Unusual 11 Mid-Day Movers 7/31: CADX, ZONS, IMCL, SCA Higher; IOSP, HRS, BARE, AKAM Lower

July 31, 2008 12:29 PM EDT

StreetInsider.com Unusual 11 Mid-Day Movers:

Cadence Pharmaceuticals, Inc. (Nasdaq: CADX) 60.4% HIGHER; received written guidance from the FDA that one post-operative pain trial (Sinatra Study) and one fever trial (Study 302) are sufficient to meet the pivotal clinical trial requirements for submission of a New Drug Application (NDA) for Acetavance, the company's intravenous formulation of acetaminophen for the treatment of acute pain and fever in adults and children.

Zones, Inc. (NASDAQ: ZONS) 52% HIGHER; reports Q2 EPS of $0.25, compared to $0.30 in the same quarter last year. Revenues for the quarter were $158.3 million, versus the consensus of $192.2 million in Q207.

Imclone Systems Inc. (Nasdaq: IMCL) 37.3% HIGHER; Bristol -Myers Squibb (NYSE: BMY) offers to acquire the company for $60 per share.

Security Capital Assurance Ltd. (NYSE: SCA) 32.6% HIGHER; after announcing that it would receive about $1.775 billion in a capital injection on July 28, shares of SCA have only seen upside. Since Tuesday of this week, the stock is up from $0.52 to about $1.80 today.

Innospec Inc. (Nasdaq: IOSP) 31.3% LOWER; reports Q2 EPS of $0.03 does not compare, versus the analyst estimate of $0.40. Revenues for the quarter were $145.3 million, versus the consensus of $147.60 million.

Harris Corporation (NYSE: HRS) 31% LOWER; the company filed a report with the SEC on Form 8-K regarding management's determination that the company will need to restate prior period financial statements. The company also announced that the earnings release for the fourth quarter of fiscal 2008 will be rescheduled.

Bare Escentuals, Inc. (Nasdaq: BARE) 30.7% LOWER; reports Q2 EPS of $0.26, 4 cents lower than the analyst estimate of $0.30. Revenues for the quarter were $138.5 million, versus the consensus of $163.21 million. Sees FY08 sales growth of 15-20% and EPS in the range of $1.13-$1.18.

PharmaNet Development Group, Inc. (Nasdaq: PDGI) 30.1% HIGHER; reports Q2 earnings of $0.11 per share, below the consensus of $0.30. Revenues came in at $96.8 million, versus the consensus of $103.7 million. Sees FY08 EPS of $0.53-$0.63 versus the consensus of $0.16. Sees FY revs of $390-$399 million, versus the consensus of $385.72 million. Additionally, Jefferies upgraded the stock to Buy this morning.

Famous Dave's of America (Nasdaq: DAVE) 26.5% HIGHER; reports Q2 EPS of $0.23, 5 cents better than the analyst estimate of $0.18. Revenues for the quarter were $38.8 million, versus the consensus of $37.40 million.

Akamai Technologies Inc. (Nasdaq: AKAM) 26.2% LOWER; reports Q2 EPS of $0.41, versus the analyst estimate of $0.41. Revenues for the quarter were $194 million, versus the consensus of $196.72 million. Akamai sees Q3 EPS of $0.39-$0.40, versus the consensus of $0.41. Sees '08 EPS of $1.63-$1.69, versus the consensus of $1.70.

Deluxe Corporation (NYSE: DLX) 24% LOWER; reports Q2 EPS of $0.63, 1 cent better than the analyst estimate of $0.62. Revenues for the quarter were $367.7 million, versus the consensus of $382.93 million. Sees Q3 sales in the range of $367-$374 million, versus the consensus of $390.45 million and EPS of $0.56-$0.60, versus the consensus of $0.79. For FY08, revenues are expected to be $1.515-$1.535 billion, versus $1.58 billion and EPS of $2.52-$2.62, versus $2.93.

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