Unusual 11 Mid-Day Movers 6/2: AVAN, ACOR, BEXP, FPP Higher; HRS, ATSG, IMCL, SOL Lower

June 2, 2008 12:00 PM EDT

AVANT Immunotherapeutics (Nasdaq: AVAN) 35.1% HIGHER; today at ASCO announced that data showed that the company and Pfizer's cancer vaccine, CDX-110, significantly increased survival time of patients with a deadly brain tumor.

Acorda Therapeutics, Inc. (NASDAQ: ACOR) 29.9% HIGHER; announced positive results from its second Phase 3 clinical trial of Fampridine-SR (MS-F204) on walking ability in people with multiple sclerosis (MS). A significantly greater proportion of people taking Fampridine-SR in the trial had a consistent improvement in walking speed compared to people taking placebo (42.9% vs. 9.3%), as measured by the Timed 25-Foot Walk (p < 0.001). Consistent improvement in walking speed was the primary endpoint of the study as outlined in the Special Protocol Assessment with the FDA.

Brigham Exploration Company (NASDAQ: BEXP) 24.9% HIGHER; announced the successful completion of two additional Vicksburg wells, and as a result its Vicksburg net production is approaching record levels. Brigham also announced its second consecutive successful Williston Basin Red River well, and that full production has resumed on schedule in its Bayou Postillion Project in Southern Louisiana. Finally, Brigham announced that it has increased its senior credit facility borrowing base from $101 million to $135 million.

Harris Corporation (NYSE: HRS) 15% LOWER; has issued a statement in response to recent market rumors and media reports. Harris acknowledged that from time to time it is approached by other companies with expressions of interest in various types of transactions, including a potential sale of the company. Harris stated today that it is not pursuing a merger or a sale.

Fieldpoint Petroleum (AMEX: FPP) 14.4% HIGHER; continues its volatile trading pattern today. Since mid-May, small speculative oil stocks have been extremely momentous amid sharply rising oil prices. Mexco Energy (AMEX: MXC) and Pyramid Oil (AMEX: PDO) have also been extremely volatile lately and are up today.

Abiomed, Inc. (NASDAQ: ABMD) 12.1% HIGHER; received 510(k) clearance from the FDA for its Impella 2.5 Cardiac Assist Device. This 510(k) clearance allows Abiomed to begin selling the device to the estimated 14,000 interventional cardiologists at approximately 1,700 heart hospitals in the United States.

Air Transport (Nasdaq: ATSG) 10.9% LOWER; today announced that its subsidiary ABX Air is reviewing DHL's announced plan to restructure its U.S. operations and to pursue negotiations to outsource its domestic air network to UPS. DHL announced that it plans to remove from its U.S. air network 39 of the 55 DC-9 aircraft that ABX Air has dedicated to DHL.

Active Power, Inc. (NASDAQ: ACPW) 9.3% HIGHER; today announced an order from a China utility, one of the largest subsidiaries of the China National Power Grid, for eight PowerHouse containerized continuous power systems.

ImClone Systems, Inc. (NASDAQ: IMCL) 6.2% LOWER; reported data on Erbitux for non-small cell lung cancer and colorectal cancer.

ReneSola Ltd (NYSE: SOL) 5.2% LOWER; filed a registration statement on Form F-1 with the SEC relating to a follow-on public offering of 9,000,000 American Depositary Shares in the United States. Each ADS represents two shares of the Company.

Lehman Brothers Holdings Inc. (NYSE: LEH) 3% LOWER; Merrill Lynch downgrades Lehman from Neutral to Underperform.

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