Unusual 11 Mid-Day Movers 4/1: CAO, ITMN, CEGE, TMA, BWLD Higher; TA, CATM, MCGC, CDE Lower

April 1, 2008 12:16 PM EDT

TravelCenters of America (AMEX: TA) 34.3% LOWER; reports a Q4 loss of $4.86, which may not compare to the analyst estimate of ($1.13). Revenues for the quarter were $1.8 billion, versus the consensus of $1.69 billion.

CSK Auto Corporation (NYSE: CAO) 24.8% HIGHER; O'Reilly Automotive, Inc. (Nasdaq: ORLY) and CSK Auto Corporation announced that the two companies have signed a definitive merger agreement under which O'Reilly will acquire all of the outstanding shares of CSK common stock pursuant to an exchange offer, in a transaction valued at approximately $1.0 billion, including approximately $500 million of debt. Under the terms of the agreement, CSK shareholders will receive $11.00 of O'Reilly common stock, subject to a collar, plus $1.00 in cash for each share of CSK common stock.

Intermune (Nasdaq: ITMN) 21% HIGHER; today announced positive top-line results from Phase Ib trials of its drug ITMN-191, saying treatment with ITMN-191 resulted in rapid and significant reductions in HCV RNA.

Cell Genesys, Inc. (Nasdaq: CEGE) 20.4% HIGHER; The company and Takeda Pharmaceutical formed a global alliance for the development and commercialization of GVAX immunotherapy for prostate cancer, Cell Genesys' lead product candidate currently in Phase 3 clinical development.

Thornburg Mortgage Inc. (NYSE: TMA) 17.4% HIGHER; raises $1.35 billion through private placement of senior subordinated secured notes and warrants.

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Cardtronics (Nasdaq: CATM) 12.8% LOWER; is moving today despite no recent news. Notably, Cardtronics filed its Form 10-K after the market closed yesterday.

Buffalo Wild Wings (Nasdaq: BWLD) 11.8% HIGHER; Morgan Keegan upgrades BWLD from Market Perform to Outperform, citing "easing wing prices and strong marketing efforts. The analyst noted Buffalo Wild Wings share price decline from above $40, implying its shares have declined too much despite no change in fundamentals.

UBS (NYSE: UBS) 11.8% HIGHER; pre-announcement of first quarter 2008 estimated writedowns of approximately $19 billion on US real estate and related structured credit positions. After the announcement, Deutsche Bank upgraded shares of UBS from Hold to Buy, calling today's writedown announcements a negative, but with underlying positive catalysts: this is the first quarter where UBS's total risk exposure has declined, ie. writedowns have exceeded the discovery of new problems and UBS's Chairman resignation could be an indication for shifts in management's strategies.

MCG Capital (Nasdaq: MCGC) 10% LOWER; Jefferies & Co downgrades MCG from Buy to Hold, citing continued risk from debt markets. Price target lowered from $15 to $9.

Coeur d'Alene Mines (NYSE: CDE) 7.2% LOWER; is sinking with the broader commodities sector. Also, Deutsche Bank cut its price target on shares of Coeur d'Alene from $4.60 to $4.40.

KKR Financial Holdings LLC (NYSE: KFN) 5.8% LOWER; announced a proposed public offering of 20,000,000 of its common shares.

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• Deutsche Bank
• UBS
• Jefferies & Co

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