Unusual 11 Mid-Day Movers 5/21: SINO, SSN, FPP, BDCO Higher; AMR, REGN, MCO, UAUA Lower

May 21, 2008 1:03 PM EDT

Sino-Global Shipping America, Ltd. (Nasdaq: SINO) 67.7% HIGHER; announced its initial public offering of 1,229,032 shares of common stock at a price of $7.75 per share. Shares opened at about $15.40, marking almost a double from its pricing, but the stock has since come back and most recently traded at $13.

Samson Oil & Gas (AMEX: SSN) 74% HIGHER; after the close yesterday announced it had reached an agreement to acquire the 320 acre half section for $96,000, meaning $300 per acre. The plot is immediately west of the producing State GC Oil Field.

Fieldpoint Petroleum (AMEX: FPP) 40.5% HIGHER; micro cap oil & gas operations companies continue their astonishing run once again today. StreetInsider's report from yesterday should explain this momentous play accurately. Shares of Fieldpoint are up nearly 300% since Monday of last week.

Blue Dolphin (Nasdaq: BDCO) 40.3% HIGHER; read StreetInsider's report on speculative oil plays recently to find out what is causing the drastic move in these stocks.

Mexco Energy (AMEX: MXC) 30.4% HIGHER; moving for similar reasons as Fieldpoint and Blue Dolphin above.

Palm Harbor Homes (Nasdaq: PHHM) 22% HIGHER; reports a Q4 loss of $0.55, versus the analyst estimate of ($0.34). Revenues for the quarter were $126.50 million, versus the consensus of $123.07 million.

AMR Corporation (NYSE: AMR) 17.8% LOWER; announced significant reductions to its 2008 domestic flight schedule, including a fourth quarter mainline domestic capacity reduction of 11 percent to 12 percent from the previous year.

Regeneron Pharmaceuticals, Inc. (Nasdaq: REGN) 15% LOWER; announced that a study for aflibercept did not achieve its primary endpoint of demonstrating that patients in either arm of the study achieved a RECIST response rate as assessed by the IRC that was statistically significantly greater than 5%.

Cheniere Energy (AMEX: LNG) 14.8% LOWER; after rising more than 60% from Thursday's close (May 15), shares appear to be correcting today.

Moody's (NYSE: MCO) 14.2% LOWER; this morning, Financial Times reported that the company incorrectly handed out AAA ratings on certain debt products due to a computer coding error. Moody's said it is reviewing the matter. Warren Buffet is out defending Moody's following the claims. Buffett has a large stake in the company.

UAL Corporation (NASDAQ: UAUA) 13.6% LOWER; Soleil Securites downgraded the stock from Buy to Sell and lowered its price target from $30 to $7. The price target decrease reflects a 50% chance of bankruptcy in the firm’s view.

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