Unusual 11 Mid-Day Movers 9/23: SIL, FNM, FRE, SYUT Higher; DTG, CACH, GFIG, ENER Lower

September 23, 2008 1:20 PM EDT

Apex Silver Mines (AMEX: SIL) 70% HIGHER; appearing on StreetInsider.com's mid-day movers for the second day in a row, Apex is surging more today than it did yesterday. From Friday's close, Apex is up more than 200%.

Fannie Mae (NYSE: FNM) 54.4% HIGHER; investors may be buying Fannie and Freddie today on hopes that the meeting on Capital Hill will produce results. Notably, both Fannie and Freddie have jumped over the $1.00 psychological level today and have held this ground.

Freddie Mac (NYSE: FRE) 51.8% HIGHER; see Fannie.

Dollar Thrifty Automotive Group (NYSE: DTG) 28.4% LOWER; reported that results in Q3 continue to be affected by challenges in the areas of revenue per day and vehicle depreciation costs. Results are also expected to be affected by the bankruptcy of one of the Company's tour operators. In light of performance to date, Dollar Thrifty is seeking an amendment to its senior secured credit facility as it relates to the Company's permitted leverage, failing which Dollar Thrifty expects to use a portion of its excess liquidity to repay a portion of its term debt under the facility to maintain covenant compliance.

Cache Inc. (NASDAQ: CACH) 27.4% LOWER; lowers its Q3 sales guidance from $62-$64 million to $58 million, versus the consensus of $61.72 million. Cache's EPS for the quarter moves from $0.01-$0.02 to a loss of $0.12-$0.14, versus the Street estimate of $0.01. Q4 revenues go from $82-$84 million from $78-$80 million, versus the consensus of $81.95 million. EPS for the quarter lowered from $0.38-$0.40 to $0.24-$0.29, versus the consensus of $0.39. For FY08, sales are lowered from $286-$290 million to $278-$280 million, versus the consensus of $285.36 million. EPS for the year down from $0.53-$0.56 to $0.24-$0.31, versus the Street estimate of $0.57.

GFI Group (Nasdaq: GFIG) 17.9% LOWER; the market seems to be disappointed with the answers Treasury Secretary Hank Paulson and Fed Chairman Ben Bernanke are giving regulators on Capitol Hill today. While financials are not leading the markets lower today, the majority of the big name financials are seeing significant downside during today's trading session.

Energy Conversion Devices (Nasdaq: ENER) 17.2% LOWER; the stock is plummeting today despite no new news. The selling may be based on technical indicators as ENER moved below its 50-day smooth moving average this morning.

Chico's FAS (NYSE: CHS) 15.7% LOWER; Piper Jaffray downgrades Chico's from Buy to Neutral. Price target lowered from $9 to $7.

Synutra Int'l (Nasdaq: SYUT) 15.5% HIGHER; shares of Synutra fell as much as 70% last week. After bouncing on Friday, the stock continues higher this week, gaining more than 45% in just two days.

Tempur-Pedic (NYSE: TPX) 9.7% HIGHER; at the beginning of September, Tempur-Pedic had nearly 70% of its float shorted. With shares rallying everyday since Thursday, when rumors of a massive government plan to fix the economy were first heard, the upside could be the result of shorts covering their downside bets.

ImClone Systems (Nasdaq: IMCL) 5.6% HIGHER; Bristol-Myers Squibb Company (NYSE: BMY) is increasing its initial offer for ImClone and intends to commence a tender offer for the currently outstanding shares of common stock of ImClone that are not already owned by Bristol-Myers Squibb for $62.00 per share in cash. The offer is valued at approximately $4.7 billion, to equity holders of ImClone, other than Bristol-Myers Squibb. Bristol-Myers Squibb currently owns approximately 16.6 percent of all outstanding shares of ImClone.

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