Unusual 11 Mid-Day Movers 6/3: AGEN, TIVO, DVAX, AHD Higher; VLO, TSO, NG, PACR Lower
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Antigenics Inc. (Nasdaq: AGEN) 89.6% HIGHER; is continuing its recent momentum run after announcing positive Oncophage interim survival data at ASCO this weekend. Notably, shares have risen more than 220% since the news hit.
TiVo Inc. (Nasdaq: TIVO) 46.9% HIGHER; a Judge upheld Tivo patents and said Echostar (Nasdaq: SATS) is infringing on them, according to Bloomberg. Tivo wins ruling on Echostar DVR patent case. Echostar told to stop use of TIVO technology for DVRs. Judge said Echostar in contempt of early ban on DVR use. The Judge said Echostar continues to infringe on TIVO patent.
Dynavax Technologies Corporation (Nasdaq: DVAX) 36.9% HIGHER; presented additional Phase 3 clinical data for HEPLISAVTM hepatitis B vaccine in a poster session at the Digestive Disease Week medical conference in Chicago. In addition to meeting its primary endpoint in this Phase 3 trial as previously reported, HEPLISAV provided more rapid and increased seroprotection against hepatitis B viral infection and with fewer doses than the licensed vaccine. The data show the differences to be particularly significant in the subset of subjects over 40 years of age who are usually less likely to respond to immunization.
Atlas Pipeline Holdings (NYSE: AHD) 32.9% HIGHER; continuing higher today following news yesterday that, following the completion of Atlas Pipeline Partners JV with Williams, AHD has reduced its leverage through the repayment of $30 million on its credit facility.
La-Z-Boy (NYSE: LZB) 31.7% HIGHER; feeling a boost today from an upgrade to Strong Buy at Raymond James. Notably, just after 1pm ET, the stock has already doubled its average daily volume of about 540,000 shares.
Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI) 29.7% HIGHER; announced the completion of a collaboration transaction with Haemacure Corporation, a specialty bio-therapeutics company, relating to certain of Haemacure's proprietary fibrin and thrombin technologies, both of which are currently in development. As part of this collaboration, Angiotech has agreed to provide to Haemacure a senior secured bridge financing facility in the amount of US$2.5 million, with the option for Angiotech to invest an additional US$1 million in the facility.
Valero Energy Corporation (NYSE: VLO) 18.1% LOWER; announced today that the company expects to report a net loss of about $0.50 per share for its Q2, reflecting extended downtime at its Delaware City and McKee refineries and by the continuation of weak sour crude oil discounts and lower diesel margins. The Street is currently expecting a Q2 gain of $0.74. Also announced its intention to offer, subject to market and other conditions, 40 million shares of common stock. The company has also granted the underwriters an option to purchase an additional 6 million shares of common stock.
Tesoro Corporation (NYSE: TSO) 15.7% LOWER; announced the pricing of its $300 million 9.75% senior notes due 2019. The Company anticipates that the offering will be completed on June 5, 2009 and intends to use the proceeds for general corporate purposes, including the repayment of indebtedness, capital expenditures and working capital.
NovaGold (NYSE: NG) 15.1% LOWER; falling with the broader metals and mining sector. The stock was also downgraded to Underperform by RBC.
Pacer International (Nasdaq: PACR) 14.9% LOWER; sinking on the back of a Baird downgrade today. The firm cut its rating on Pacer from Neutral to Underperform.
JetBlue Airways Corporation (Nasdaq: JBLU) 14.5% LOWER; intends to make concurrent offerings, subject to market conditions, of 20,000,000 shares of common stock and $150 million aggregate principal amount of convertible debentures, which are to be divided into two series, each with an aggregate principal amount of $75 million and maturing in 2039.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
TiVo Inc. (Nasdaq: TIVO) 46.9% HIGHER; a Judge upheld Tivo patents and said Echostar (Nasdaq: SATS) is infringing on them, according to Bloomberg. Tivo wins ruling on Echostar DVR patent case. Echostar told to stop use of TIVO technology for DVRs. Judge said Echostar in contempt of early ban on DVR use. The Judge said Echostar continues to infringe on TIVO patent.
Dynavax Technologies Corporation (Nasdaq: DVAX) 36.9% HIGHER; presented additional Phase 3 clinical data for HEPLISAVTM hepatitis B vaccine in a poster session at the Digestive Disease Week medical conference in Chicago. In addition to meeting its primary endpoint in this Phase 3 trial as previously reported, HEPLISAV provided more rapid and increased seroprotection against hepatitis B viral infection and with fewer doses than the licensed vaccine. The data show the differences to be particularly significant in the subset of subjects over 40 years of age who are usually less likely to respond to immunization.
Atlas Pipeline Holdings (NYSE: AHD) 32.9% HIGHER; continuing higher today following news yesterday that, following the completion of Atlas Pipeline Partners JV with Williams, AHD has reduced its leverage through the repayment of $30 million on its credit facility.
La-Z-Boy (NYSE: LZB) 31.7% HIGHER; feeling a boost today from an upgrade to Strong Buy at Raymond James. Notably, just after 1pm ET, the stock has already doubled its average daily volume of about 540,000 shares.
Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI) 29.7% HIGHER; announced the completion of a collaboration transaction with Haemacure Corporation, a specialty bio-therapeutics company, relating to certain of Haemacure's proprietary fibrin and thrombin technologies, both of which are currently in development. As part of this collaboration, Angiotech has agreed to provide to Haemacure a senior secured bridge financing facility in the amount of US$2.5 million, with the option for Angiotech to invest an additional US$1 million in the facility.
Valero Energy Corporation (NYSE: VLO) 18.1% LOWER; announced today that the company expects to report a net loss of about $0.50 per share for its Q2, reflecting extended downtime at its Delaware City and McKee refineries and by the continuation of weak sour crude oil discounts and lower diesel margins. The Street is currently expecting a Q2 gain of $0.74. Also announced its intention to offer, subject to market and other conditions, 40 million shares of common stock. The company has also granted the underwriters an option to purchase an additional 6 million shares of common stock.
Tesoro Corporation (NYSE: TSO) 15.7% LOWER; announced the pricing of its $300 million 9.75% senior notes due 2019. The Company anticipates that the offering will be completed on June 5, 2009 and intends to use the proceeds for general corporate purposes, including the repayment of indebtedness, capital expenditures and working capital.
NovaGold (NYSE: NG) 15.1% LOWER; falling with the broader metals and mining sector. The stock was also downgraded to Underperform by RBC.
Pacer International (Nasdaq: PACR) 14.9% LOWER; sinking on the back of a Baird downgrade today. The firm cut its rating on Pacer from Neutral to Underperform.
JetBlue Airways Corporation (Nasdaq: JBLU) 14.5% LOWER; intends to make concurrent offerings, subject to market conditions, of 20,000,000 shares of common stock and $150 million aggregate principal amount of convertible debentures, which are to be divided into two series, each with an aggregate principal amount of $75 million and maturing in 2039.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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