Unusual 11 Mid-Day Movers 8/1: ABK, IPHS, USMO, PEET Higher; CSK, TOMO, ELN, PAET Lower

August 1, 2008 12:44 PM EDT

StreetInsider.com Unusual 11 Mid-Day Movers:

Chesapeake Corporation (NYSE: CSK) 55.3% LOWER; reports a Q2 loss of $0.44, versus the analyst estimate of ($0.27). Revenues for the quarter were $251.4 million, versus the consensus of $247.15 million.

TomoTherapy (Nasdaq: TOMO) 46% LOWER; reports a Q2 loss of $0.12, 12 cents lower than the analyst estimate of $0.00. Revenues for the quarter were $52 million, versus the consensus of $54.78 million. Sees FY08 revs of $190-$210 million, versus the consensus of $261.6 million. Sees Q3 revs below Q1. Sees FY08 loss of $0.28-$0.43, versus the consensus of $0.14 gain.

Elan Corporation (NYSE: ELN) 44.4% LOWER; Biogen and Elan notified relevant regulatory agencies of two confirmed cases of progressive multifocal leukoencephalopathy (PML) in multiple sclerosis (MS) patients treated with TYSABRI in the commercial setting.

PAETEC Holding Corp. (NASDAQ: PAET) 43.3% LOWER; expects preliminary Q2 revenues in the range of $401-$406 million, versus the consensus of $421.89 million.

Ambac Financial Group, Inc. (NYSE: ABK) 39.3% HIGHER; has settled one of its largest CDO exposures, AA Bespoke, in exchange for a final cash payment of $850 million to its sole counterparty. AA Bespoke is a $1.4 billion transaction that originally comprised AA rated CDO of ABS tranches, most of which have been downgraded to below investment grade since the inception of the transaction.

Innophos (Nasdaq: IPHS) 30.2% HIGHER; reports Q2 EPS of $2.74, which does not compare to the analyst estimate of $0.88. Revenues for the quarter were $264 million, versus the consensus of $211.60 million.

Biogen Idec (Nasdaq: BIIB) 25.4% LOWER; Biogen and Elan notified relevant regulatory agencies of two confirmed cases of progressive multifocal leukoencephalopathy (PML) in multiple sclerosis (MS) patients treated with TYSABRI in the commercial setting.

USA Mobility (Nasdaq: USMO) 22.8% HIGHER; reports Q2 EPS of $0.37, 10 cents better than the analyst estimate of $0.27. Revenues for the quarter were $92.1 million, versus the consensus of $91.20 million. Announces a $50 million buyback. Sees FY08 revenue $355-$360 million versus prior guidance $345 to $355 million, consensus is $355 million.

Peet's Coffee & Tea, Inc. (Nasdaq: PEET) 21.8% HIGHER; reports Q2 EPS of $0.21, 2 cents lower than the analyst estimate of $0.23. Revenues for the quarter were $70.1 million compared to $60.1 million in the same quarter last year.

Boyd Gaming (NYSE: BYD) 21.7% HIGHER; reports Q2 earnings of $0.30 per share, ex-items, above the consensus of $0.27. Revenues came in at $460.8 million, versus the consensus of $462.9 million. Increase its share repurchase program to $100 million. Also, announced they plan to delay their Echelon project on the Las Vegas Strip.

thinkorswim Group Inc. (Nasdaq: SWIM) 19.4% HIGHER; reports Q2 EPS of $0.27, 10 cents better than the analyst estimate of $0.17. Revenues for the quarter were $97 million, versus the consensus of $88.05 million. Announces a buyback of up to 5 million shares

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