Unusual 11 Mid-Day Movers 5/6: AHD, ARM, APAC, VIGN Higher; ACAS, CT, FDML, DPTR Lower

May 6, 2009 11:55 AM EDT

Atlas Pipeline Holdings, L.P. (NYSE: AHD) 45.9% HIGHER; a partner company, Atlas Energy Resources, announced today that its third horizontal Marcellus Shale well had achieved an initial 24-hour rate into a pipeline of 10.1 million cubic feet of natural gas equivalents.

ArvinMeritor (NYSE: ARM) 44.2% HIGHER; reports Q1 loss of $0.65, 3 cents better than the analyst estimate of ($0.68). Revenue for the quarter was $1.1 billion, versus the consensus of $1.24 billion. Click here for the full report.

APAC Customer Services Inc. (Nasdaq: APAC) 37.8% HIGHER; reports Q1 EPS of $0.20, cents better than the analyst estimate of $0.11. Revenue for the quarter was $73.2 million, versus the consensus of $67 million.

Vignette Corporation (NASDAQ: VIGN) 35.4% HIGHER; Open Text Corporation (NASDAQ: OTEX) announced an agreement to acquire Vignette for $8.00 in cash plus 0.1447 of an Open Text common share for every Vignette common share which equates to approximately US $12.70 at close of market on May 5, 2009. This represents a premium of approximately 74% above the 30 trading day average closing price of Vignette's shares and approximately 41% above the most recent closing price. This values the transaction at approximately US $310 million.

Cambrex (NYSE: CBM) 31.3% HIGHER; reports Q1 EPS of $0.16, 7 cents better than the analyst estimate of $0.09. Revenue for the quarter was $61.03 million, versus the consensus of $59.80 million. Click here for the full report.

American Axle (NYSE: AXL) 28.2% HIGHER; the entire auto supplier sector is moving higher today amid solid earnings out of ArvinMeritor and TRW (NYSE: TRW).

American Capital, Ltd. (Nasdaq: ACAS) 25.3% LOWER; reports Q1 EPS of $0.31, 6 cents worse than the analyst estimate of $0.37. Revenue for the quarter was $181 million, versus the consensus of $185.8 million.

Capital Trust, Inc. (NYSE: CT) 22.1% LOWER; reports Q1 loss of $3.38, versus the analyst estimate of ($0.05).

Federal-Mogul Corp. (Nasdaq: FDML) 19.8% LOWER; removed from Goldman Sachs' Conviction Buy list, but maintained at Buy. FDML reported its Q1 results yesterday morning and downside momentum remains today.

Delta Petroleum Corporation (Nasdaq: DPTR) 18.9% LOWER; reports Q1 loss of $0.25, 3 cents worse than the analyst estimate of ($0.22). Revenue from oil and gas sales for the quarter was $22.1 million, versus the consensus of $25.97 million. Also announced that it has commenced an underwritten registered public offering of 70,000,000 shares of common stock.

BigBand Networks (Nasdaq: BBND) 16% LOWER; reports Q1 EPS of $0.09, 4 cents better than the analyst estimate of $0.05. Revenue for the quarter was $43.9 million, versus the consensus of $44.29 million. For the second quarter of 2009 management provides the following outlook: Net revenues are expected to be in the range of $40 million to $42 million vs. consensus of $46.87 million. Non-GAAP net earnings per share are expected to be in the range of $0.02 to $0.04 vs. consensus of $0.06.

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

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