Unusual 11 Mid-Day Movers 4/17: DFR, REV, UIS, RAD Higher; LPS, CHP, CYT, MGM Lower

April 17, 2009 12:28 PM EDT

Deerfield Capital (AMEX: DFR) 41.3% HIGHER; making its appearance at the top of the Unusual 11 Movers list for the third day in a row. Since Tuesday, when the company announced that it has entered into a new investment venture with Pegasus Capital Advisors, shares have rocketed more than 360%.

Revlon (NYSE: REV) 36.5% HIGHER; bullish traders are targeting the most beaten up stocks this week. Momentum stocks (such as Revlon) are bouncing off lows on substantial volume despite no news. Shares of Revlon have surged more than 60% yesterday.

Unisys Corporation (NYSE: UIS) 31.7% HIGHER; momentum is continuing in this name today following news yesterday of a $92 million task order for the Defense Finance and Accounting Service Desktop Management Initiative. Shares rallied more than 60% yesterday on the news.

Lender Processing (NYSE: LPS) 29% LOWER; shares plummeted this morning following reports that the US Department of Justice is investigating whether LPS's automated mortgage systems provided inaccurate information to lawyers who rely on it for court evidence.

Rite Aid (NYSE: RAD) 27.7% HIGHER; we are seeing a strange trend developing this week: investors are picking out some of the most beaten down stocks are bidding them up as they rebound off extremely depressed levels. Many of these stocks are seeing increased momentum with technical traders jumping in as breakouts are occuring all over.

Pacific Sunwear (Nasdaq: PSUN) 25.6% HIGHER; another stock which is surging as momo traders are jumping in.

Cedar Shopping Centers (NYSE: CDR) 25.5% HIGHER; see Pacific Sunwear.

C&D Technologies (NYSE: CHP) 17.8% LOWER; reports Q4 GAAP loss of $0.55, compared to a GAAP loss of $0.40 in the same quarter last year. Sales for the quarter were $85.46 million, which compares to the Street estimate of $89.45 million. The stock was also downgraded at CL King from Strong Buy to Neutral.

Cytec Industries Inc. (NYSE: CYT) 17.7% LOWER; reports Q1 EPS of $0.06, ex-items, versus the analyst estimate of $0.29. Revenue for the quarter was $612 million, versus the consensus of $771.41 million. Sees FY09 EPS of $1.35-$1.75, versus the consensus of $2.12. Will cut its quarterly dividend from $0.1125 to $0.0125 per common share, effective immediately.

MGM Mirage (NYSE: MGM) 15.3% LOWER; just before the close, the WSJ reported that Carl Icahn and Oaktree Capital are pushing for an MGM bankruptcy. Click here for the full report.

Orthofix International N.V., (NASDAQ: OFIX) 13.7% LOWER; announced preliminary Q1 results, indicating sales of about $129.0 million and EPS of $0.14-$0.16. The Company's spine implant and biologic businesses generated total revenue of approximately $28.8 million during the quarter. (Q1 revenue consensus is $130.50M and EPS consensus is $0.12) The stock was also downgraded to Underperform at Wachovia.

To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.

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• Carl Icahn
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• Wachovia
• CL King
• Dividend
• Unusual 11 Mid-Day Movers
• Bankruptcy

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