Unusual 11 Mid-Day Movers 6/11: ABPI, KMGB, FCN, AGU Higher; CENT, FED, SNIC, MTG Lower

June 11, 2008 12:44 PM EDT

Central Garden & Pet Company (NASDAQ: CENT) 33.1% LOWER; indicated that management can no longer expect to report financial results that are better than last year's. The company said it is now "less optimistic that its results will meet or exceed its results for the last fiscal year as a result of a number of factors, which are adversely affecting the Company in the current quarter including continued grain cost increases, which the Company has not been able to fully offset through price increases, and further increases in operating expenses and input costs." SunTrust also downgraded the stock to Neutral following the announcement.

Accentia Biopharmaceuticals, Inc. (NASDAQ: ABPI) 28.4% HIGHER; a majority-owned subsidiary, Biovest International, Inc. (OTCBB: BVTI), today reported what the company believes to be highly encouraging blinded results from its randomized controlled pivotal Phase 3 Fast-Tracked clinical trial of BiovaxID(R) for the treatment of indolent follicular non-Hodgkin's lymphoma, an often fatal blood cancer.

FirstFed Financial (NYSE: FED) 17.6% LOWER; so far this week, the financial sector has been beaten up amid speculation that the Fed could hike rates due to increasing concerns about inflation. Shares of FirstFed have had a very rough week so far, down more than 30% since Friday's close.

Sonic Solutions (Nasdaq: SNIC) 14.6% LOWER; reports Q4 non-GAAP EPS of $0.08, 5 cents better than the analyst estimate of $0.03. Revenues for the quarter were $34.89 million, versus the consensus of $35.62 million. Sees Q1 sales of $29 million or more, versus the consensus of $32.23 million. Sees Q1 loss of $0.09, versus a $0.01 gain.

MGIC Investment Corp. (NYSE: MTG) 13.5% LOWER; after the close yesterday, Saxena White P.A. announced that it has filed a suit on behalf of shareholders of MGIC related to misleading comments about the company's financial strength. The stock may also be seeing downside due to the financial sector being one of the worst performing sectors today.

Hooker Furniture Corp. (Nasdaq: HOFT) 13.3% LOWER; reports Q1 EPS of $0.23, below the consensus of $0.40. Revenues came in at $71 million, versus the consensus of $80.4 million.

KMG Chemicals (Nasdaq: KMGB) 11% HIGHER; reports Q3 EPS of $0.15, compared to $0.13 in the same quarter last year. Revenues for the quarter were $50.26 million, versus the consensus of $31.45 million.

FTI Consulting, Inc. (NYSE: FCN) 8.8% HIGHER; announced that is has signed a merger agreement to acquire Attenex Corporation, a leading eDiscovery software provider. The total purchase price for the transaction is approximately $88 million in cash and is expected to close in the third quarter of 2008 after expiration of the HSR waiting period. After amortization of intangibles, the acquisition is expected to be neutral to FTI's earnings per share in 2008 and accretive in 2009. Attenex had revenue of approximately $25 million in 2007.

Royale Energy (Nasdaq: ROYL) 8.6% HIGHER; with crude oil up about $4.50 today, speculative oil plays are back in the spotlight. Other popular plays have been Pyramid Oil (AMEX: PDO), which is up 5.8% and Fieldpoint Petroleum (AMEX: FPP), which is up 4%.

Agrium Inc. (NYSE: AGU) 8.5% HIGHER; expects to earn between $2.80 to $3.00 diluted earnings per share in the second quarter of 2008, or $4.03 to $4.23 for the first half of 2008. The significant increase from the previous guidance of $1.92 to $2.22 diluted earnings per share for the second quarter is due to very strong results from both our Retail and Wholesale operations, with Retail expected to account for half of the increase. The second quarter consensus is $2.50.

James River Coal (Nasdaq: JRCC) 7.8% HIGHER; leading the coal industry higher today. The industry as a whole is on the move today.

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