Unusual 11 Mid-Day Movers 7/29: CNO, ELRN, ATAC, KEYN Higher; FTBK, THQI, CERS, ALVR Lower

July 29, 2009 12:38 PM EDT

Conseco, Inc. (NYSE: CNO) 50% HIGHER; announced preliminary Q2 net income of $86.7 million which was up 47% from last year. Net operating income per diluted share was $0.22, up 69% from last year. Net income per diluted share in the range of 9 cents to 15 cents, compared to a net loss per diluted share of $2.65 in 2Q08.

Elron Electronic Industries Ltd. (NASDAQ: ELRN) 49.7% HIGHER; announced today, that further to it previous announcement on July 28, 2009, Medingo Ltd., a group company held 92% by Elron and its subsidiary, RDC - Rafael Development Corporation Ltd., has received formal clearance from the FDA, to market its Solo(TM) MicroPump Insulin Delivery System in the United States. Click here for the full report.

ATC Technology Corporation (Nasdaq: ATAC) 23% HIGHER; reports Q2 EPS of $0.54 (ex-items), 10 cents better than the analyst estimate of $0.44. Revenue for the quarter was $118.5 million, versus the consensus of $118.50 million. Sees FY09 sales of $485-$505 million, versus the consensus of $480.56 million, and EPS in the range of $2.05-$2.15, which compares to the Street estimate of $1.88.

Keynote Systems, Inc. (Nasdaq: KEYN) 21.7% HIGHER; reports Q3 EPS of $0.25 versus the analyst estimate of ($0.01). Revenue for the quarter was $20.2 million, versus the consensus of $18.56 million. Sees Q4 EPS 5c to 9c versus consensus of $0.00. Sees Q4 revenues $18.3M to $19.3M versus $18.8M.

MDRNA (Nasdaq: MRNA) 19.5% HIGHER; started at Buy at Cantor Fitzgerald. The firm said MDRNA was poised to open higher. It did.

Frontier Financial Corporation (NASDAQ: FTBK) 19.5% LOWER; reports Q2 loss of $1.06, versus the analyst estimate of ($0.79).

THQ (Nasdaq: THQI) 18.9% LOWER; reports Q1 EPS of $0.10 ex-items, 18 cents better than the analyst estimate of ($0.08). Revenue for the quarter was $243.5 million, versus the consensus of $203 million. Sees 2010 sales above 2009. Expects to achieve profitability in FY10. Sees Q2 sales $85M to $95M versus consensus $123.3 million.

eFuture Information Technology Inc. (Nasdaq: EFUT) 18.1% HIGHER; announced that it has entered into a strategic relationship with Microsoft Corporation (Nasdaq: MSFT) to provide a standardized POS-ERP system for retailers in China. This system will integrate Microsoft Windows Embedded POSReady 2009 into eFuture's POS-ERP Store Operation System.

Cerus (Nasdaq: CERS) 16.5% LOWER; this extremely volatile stock is continuing to fall today. Yesterday an analyst at Baird downgraded the stock to Neutral, citing the stock's run-up through July. The firm has a $3 price target on the stock.

Alvarion Ltd. (Nasdaq: ALVR) 16.1% LOWER; reports Q2 loss of $0.01, better than the analyst estimate of a $0.05 loss. Revenue for the quarter was $58.7 million, versus the consensus of $58.2 million. The stock was also downgraded to Neutral at CL King.

Perry Ellis Int'l (Nasdaq: PERY) 15.4% LOWER; SunTrust downgrades the stock from Buy to Neutral.

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

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