Unusual 11 Mid-Day Movers 4/9: ABK, BTH, GRAN, CASY, FTBK Higher; JOEZ, AERG, FBP, ZLC Lower

April 9, 2010 12:14 PM EDT Send to a Friend
Ambac Financial (NYSE: ABK) 68.4% HIGHER; reported Q4 GAAP EPS of $1.93, which compares to a quarterly loss of $8.14 in the same quarter last year. Sales for the quarter were $566.6 million.

Blyth Industries (NYSE: BTH) 43.6% HIGHER; reports Q4 non-GAAP EPS of $3.60, versus the analyst estimate of $2.00, and $1.42 for the same period last year. Revenue for the quarter was $322.4 million, which compares to the estimate of $310.65 million. Sees FY11 EPS of $3.20-$3.50, which compares to the Street estimate of $3.47.

Bank of Granite (Nasdaq: GRAN) 34.7% HIGHER; after falling under $1 last week, the stock took back the technical and psychological level yesterday and is continuing higher today. Volume remains very heavy.

Casey's General Stores, Inc. (NASDAQ: CASY) 23.7% HIGHER; Alimentation Couche-Tard Inc. today announced that it has submitted a proposal to the Board of Directors of Casey's to acquire all of the outstanding shares of common stock of Casey's for $36.00 per share in cash.

Frontier Financial (Nasdaq: FTBK) 23.3% HIGHER; the stock has not closed in the red this week. Shares surged more than 17% yesterday. Not hearing any company-specific news today.

Atlas Energy, Inc. (NASDAQ: ATLS) 18.5% HIGHER; announces today its entry into a joint venture transaction with a wholly owned affiliate of Reliance Industries Limited, the largest private sector company in India and a global energy leader, pursuant to which Atlas will transfer an interest in its Marcellus Shale position equal to 120,000 net acres in a transaction valued at $1.7 billion. Reliance will pay approximately $340 million in cash upon closing and an additional $1.36 billion in the form of a drilling carry. Atlas will serve as the development operator for the joint venture. Reliance will have the option to operate in certain project areas in the coming years outside of Atlas’ core operating areas of Fayette, Greene, Washington, and Westmoreland Counties in southwestern Pennsylvania.

Joes Jeans, Inc. (NASDAQ: JOEZ) 16.2% LOWER; reports Q4 EPS of $0.01, even with the analyst estimate of $0.01. Revenue for the quarter was $23.2 million, which compares to the estimate of $18.39 million.

Applied Energetics (Nasdaq: AERG) 15.3% LOWER; continuing to correct today. Since March 29, the stock has rallied more than 70%. Shares sold-off 6% over Wednesday and Thursday.

First BanCorp. (NYSE: FBP) 14.3% LOWER; shares jumped almost 50% during the first 3 trading days of this week and now it seems traders are taking profits.

Zale Corp. (NYSE: ZLC) 7.8% LOWER; Soleil Securities downgrades Zale from Hold to Sell. Price target $2.

Canadian Solar (Nasdaq: CSIQ) 4.5% LOWER; the stock was downgraded from Overweight to Equalweight at Morgan Stanley this morning.

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