Unusual 11 Mid-Day Movers 8/8: (MFRM) (ISNS) (CRC) Higher; (SAEX) (CHEK) (CRNT) Lower

August 8, 2016 12:48 PM EDT

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Mattress Firm Holding Corp. (Nasdaq: MFRM) 114.2% HIGHER; announced that the Company and Steinhoff International Holdings N.V. have entered into a definitive merger agreement under which Steinhoff will, subject to the successful consummation of a cash tender offer and satisfaction of other customary closing conditions, acquire Mattress Firm for $64.00 per share in cash.

Image Sensing Systems (Nasdaq: ISNS) 104.6% HIGHER; reported Q2 EPS of $0.24, versus $0.13 reported last year. Revenue for the quarter came in at $4.7 million, versus $4.4 million reported last year.

SAExploration Holdings, Inc. (Nasdaq: SAEX) 46.3% LOWER; continuing to pullback following strong gains last week. Today, BlueMountain Capital Management disclosed a 25.8%, or 2,409,106 share, stake in the company.

California Resources Corporation (NYSE: CRC) 28.7% HIGHER; announced that it increased from $525 million to $750 million the maximum amount of cash it may use to purchase its outstanding 5.0% Senior Notes due 2020, 5.5% Senior Notes due 2021, 6.0% Senior Notes due 2024 and 8.00% Second Lien Secured Notes due 2022 pursuant to its offer to purchase, upon the terms and conditions set forth in the offer to purchase, dated August 1, 2016, and the related letter of transmittal.

Heat Biologics, Inc. (Nasdaq: HTBX) 28.2% HIGHER; shares adding to a 18 percent gain last Friday.

Check-Cap Ltd. (Nasdaq: CHEK) 26.3% LOWER; announced that it has entered into an agreement with a single health-care focused institutional investor for a registered direct placement of $5.9 million.

Magellan Petroleum Corporation (Nasdaq: MPET) 23.2% HIGHER; announced that Mr. Wilson tendered his resignation as the President and Chief Executive Officer ("CEO") and a director of the Company effective as of August 5, 2016, and the board of directors appointed Mr. Lafargue, the Company's current Chief Financial Officer, as President and CEO.

MEI Pharma, Inc. (Nasdaq: MEIP) 23.1% HIGHER; Helsinn and MEI Pharma announced that they have entered into an exclusive licensing, development and commercialization agreement for Pracinostat, a Phase III-ready drug candidate for the treatment of acute myeloid leukemia (AML) and other potential indications. The deal provides the complementary resources from both organizations to rapidly advance Pracinostat into Phase III clinical development and expand into additional indications, including high-risk myelodysplastic syndrome (MDS).

Ceragon Networks (Nasdaq: CRNT) 12.7% LOWER; reported Q2 EPS of $0.02, $0.02 better than the analyst estimate of $0.00. Revenue for the quarter came in at $70 million versus the consensus estimate of $67.59 million.

Epizyme (Nasdaq: EPZM) 12.0% LOWER; reported Q2 EPS of ($0.49), $0.03 better than the analyst estimate of ($0.52). Revenue for the quarter came in at $473 thousand versus the consensus estimate of $888 thousand.

Lantheus Holdings (Nasdaq: LNTH) 11.0% LOWER; reported Q2 EPS of $0.24, $0.18 better than the analyst estimate of $0.06. Revenue for the quarter came in at $78 million versus the consensus estimate of $72.66 million.

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