Unusual 11 Mid-Day Movers 4/3: RHIE, AIB, IRE, ENTR Higher; HTCH, AEHR, ALKS, GET Lower

April 3, 2009 1:12 PM EDT

RHI Entertainment (Nasdaq: RHIE) 40.5% HIGHER; adding to yesterday's 26% surge following news that Seth Klarman's Baupost Group purchased another 437K shares.

Hutchinson Technology Incorporated (Nasdaq: HTCH) 40.1% LOWER; reports preliminary shipments of about 107 million suspension assemblies during Q2, down from about 155 million in Q1. Hutchinson also reported average selling prices fell from $0.76 to $0.71, resulting in sales of about $79 million during the quarter. The stock was also downgraded to Underperform at Needham.

Allied Irish Banks (NYSE: AIB) 30.9% HIGHER; the Irish Times reported that Allied Irish Banks offered workers unpaid leave to save on costs. Recently, Ireland's government set-up a plan to remove risky loans from the balance sheets of the nation's banks. With shares of AIB at penny-stock levels just days ago, this weeks move is likely the result of technical trading and short-covering.

Bank of Ireland (NYSE: IRE) 30.3% HIGHER; see AIB.

Aehr Test Systems (Nasdaq: AEHR) 28.9% LOWER; reports Q3 loss of $3.28, compared to a gain of $0.23 in the same quarter last year. Revenue for the quarter was $1.2 million, versus $10.8 million in Q308.

Entropic Communications (Nasdaq: ENTR) 25.7% HIGHER; the semiconductor space is outperforming today amid a positive analyst note which suggests that fundamentals in the sector could be bottoming.

Zale Corp. (NYSE: ZLC) 24.6% HIGHER; momentum in this stock is continuing today. The stock has nearly doubled in just this week on heavy volume. Zale has seen substantial insider buying soon.

Delta Petroleum (Nasdaq: DPTR) 19% HIGHER; continuing higher today as momo traders are targeting this stock. The stock continues to see very heavy volume.

Alkermes (Nasdaq: ALKS) 16.7% LOWER; likely falling today on news out of Novo Nordisk (NYSE: NVO) that its oral diabetes drug, liraglutide, failed to get an approval recommendation by the FDA yesterday. Shares of Amylin (Nasdaq: AMLN) are also tumbling today as its Byetta will be a direct competitor to the Novo Nordisk product. Click here for the full report.

Gaylord Entertainment (NYSE: GET) 12.1% LOWER; Wachovia downgrades the stock from Outperform to Market Perform. Click here for full color on the downgrade.

ACCO Brands Corporation (NYSE: ABD) 11.2% LOWER; announced last night that on March 30, 2009, the NYSE notified the company that it is not in compliance with one of the continued listing standards of the NYSE.

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

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• Baupost Group
• Seth Klarman
• Wachovia
• Needham & Co
• Unusual 11 Mid-Day Movers

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