Unusual 11 Mid-Day Movers 7/18: PNCL, FNM, ACO, VMI Higher; OSTK, SFI, MVIS, SGLP Lower

July 18, 2008 11:32 AM EDT

StreetInsider.com Unusual 11 Mid-Day Movers:

Pinnacle Airlines Corp. (NASDAQ: PNCL) 37.6% HIGHER; announced that its Pinnacle Airlines, Inc. subsidiary will continue to fly for Delta Air Lines as a Delta Connection carrier under its existing contract, which expires in 2017. Delta previously served notice that it intended to terminate the contract, effective July 31.

Overstock.com, Inc. (Nasdaq: OSTK) 29.6% LOWER; reports a Q2 loss of $0.28, in-line with the analyst estimate of ($0.28). Revenues for the quarter were $188.8 million, versus the consensus of $180.66 million.

Fannie Mae (NYSE: FNM) 24% HIGHER; the financial sector is having another historic day on Wall Street today. The sector is once again leading the markets higher and Fannie and Freddie (NYSE: FRE) are leading the financials higher today as they continue bouncing off their recent lows.

iStar Financial (NYSE: SFI) 23.4% LOWER; sees a Q2 adjusted loss of $1.45-$1.55, versus the Street consensus of $0.80 gain.

Microvision (NASDAQ: MVIS) 21.3% LOWER; announced it has priced a public offering of approximately 11.2 million shares of its common stock and warrants to purchase approximately 6.7 million shares of its common stock at a price of $2.33 per unit, which represents a 12.5% discount to the 10-day volume weighted average closing bid price. Gross proceeds before placement agent fees and offering expenses are expected to be approximately $26 million and will be used for general corporate purposes. The offering is expected to close on July 23, 2008, subject to the satisfaction of customary closing conditions.

AMCOL International Corporation (NYSE: ACO) 18.9% HIGHER; reports Q2 EPS of $0.58, 7 cents better than the analyst estimate of $0.51. Revenues for the quarter were $233.8 million, versus the consensus of $211.05 million.

SemGroup Energy Partners, L.P. (NASDAQ: SGLP) 18.2% LOWER; has been informed by SemGroup, L.P., SGLP's parent, that SemGroup, L.P. is experiencing liquidity issues and is exploring various alternatives, including raising additional equity, debt capital or the filing of a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code.

Valmont (NYSE: VMI) 17% HIGHER; reports Q2 EPS of $1.41, 6 cents better than the analyst estimate of $1.35. Revenues for the quarter were $497.1 million, versus the consensus of $479.50 million. Also, Sterne Agee upgraded the stock from Hold to Buy.

Tempur Pedic International (NYSE: TPX) 15.7% HIGHER; reports Q2 EPS of $0.27, 4 cents better than the analyst estimate of $0.23. Revenues for the quarter were $238.7 million, versus the consensus of $232.85 million. Sees FY08 EPS of $1.05-$1.20, versus the consensus of $1.15 and revs of $980 million-$1.02 billion, versus $1.02 billion.

Avocent Corporation (Nasdaq: AVCT) 13.7% LOWER; reports Q2 EPS of $0.41, 2 cents worse than the analyst estimate of $0.43. Revenues for the quarter were $159.2 million, versus the consensus of $154.76 million. AVCT sees Q3 revenues between $175-$183 million vs. $168.06 million consensus. Sees Q3 EPS between $0.54-$0.58 vs. $0.52 consensus.

Mattel (NYSE: MAT) 13.5% HIGHER; reports Q2 earnings of $0.03 per share, above the consensus of $0.02. Revenues came in at $1.11 billion, versus the consensus of $1.04 billion. Also, Mattel has announced that it has prevailed over MGA in ownership of Bratz Drawings.

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