Unusual 11 Mid-Day Movers 9/22: (HTCH) (WCIC) (SAEX) Higher; (AXON) (OMN) (LBIX) Lower

September 22, 2016 12:51 PM EDT

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Hutchinson Technology Incorporated (Nasdaq: HTCH) 166.7% HIGHER; announced that the U.S. Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), with respect to the proposed merger of HTI with and into a wholly owned subsidiary of TDK Corporation (“TDK”). The early termination of the waiting period under the HSR Act satisfies one of the remaining conditions to the closing of the pending merger.

WCI Communities, Inc. (NYSE: WCIC) 38.3% HIGHER; Lennar Corporation and WCI Communities announced that they have entered into a definitive merger agreement under which Lennar will acquire all of the outstanding shares of WCI Communities, Inc. ("WCI") common stock in a cash and stock transaction valued at $23.50 per WCI share, representing a 37% premium to WCI's closing stock price on September 21, 2016.

SAExploration (Nasdaq: SAEX) 34.5% HIGHER; seeing a volume move higher on Thursday.

Anavex Life Sciences Corp. (Nasdaq: AVXL) 23.8% HIGHER; presented preclinical data demonstrating that ANAVEX 2-73, a sigma-1 receptor agonist, restores function in a classic animal model of Parkinson’s disease. Significant improvements were seen on all measures: behavioral, histopathological, and neuroinflammatory endpoints.

Ocera Therapeutics, Inc. (Nasdaq: OCRX) 14.6% HIGHER; announced completion of enrollment in STOP-ALF, a Phase 2a clinical trial to evaluate the Safety and Tolerability of Ornithine Phenylacetate in patients with Acute Liver Failure. The study was conducted by the Acute Liver Failure Study Group, an NIH-sponsored network of university tertiary care liver transplant sites, with support and supply of study medication from Ocera.

Axovant Sciences (NYSE: AXON) 14.3% LOWER; shares hit amid news that the Lundbeck 5-HT6 antagonist Phase III failed in Alzheimer's disease.

Omnova Solutions (NYSE: OMN) 14.3% LOWER; reported Q3 EPS of $0.14, $0.03 worse than the analyst estimate of $0.17. Revenue for the quarter came in at $195.6 million versus the consensus estimate of $195.1 million.

Caesars Entertainment Corporation (Nasdaq: CZR) 13.7% HIGHER; announced that it, along with affiliates of Apollo Global Management, LLC and TPG Capital, L.P., have proposed an enhancement to their contributions to Caesars Entertainment Operating Company, Inc.'s current restructuring plan. The proposed increase follows discussions with major creditor constituencies of CEOC and its Chapter 11 debtor subsidiaries in an effort to reach a consensual debt restructuring agreement with all creditor groups in CEOC's restructuring. Caesars Entertainment believes this proposal meets the requirements of the holders of CEOC's second lien notes and is optimistic that such proposal will be acceptable.

Leading Brands (Nasdaq: LBIX) 9.7% LOWER; reported Q2 EPS of CDN$0.00, versus CDN$0.09 reported last year. Revenue for the quarter came in at CDN$2.97 million, versus CDN$3.78 million reported last year.

Herman Miller (Nasdaq: MLHR) 7.9% LOWER; reported Q1 EPS of $0.60, $0.02 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $598.6 million versus the consensus estimate of $614.2 million. Herman Miller sees Q2 2017 EPS of $0.52-$0.60, versus the consensus of $0.60. Herman Miller sees Q2 2017 revenue of $580-600 million, versus the consensus of $601.1 million.

CoLucid Pharmaceuticals (Nasdaq: CLCD) 6.3% LOWER; shares ticking lower once again following a recent surge higher. Shares remain up over 200 percent for September.

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