Unusual 11 Mid-Day Movers 9/28: (AVXL) (SPU) (HLIT) Higher; (GALT) (TPX) (FGP) Lower

September 28, 2016 12:50 PM EDT
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Anavex Life Sciences Corp. (Nasdaq: AVXL) 48.1% HIGHER; signed a material transfer agreement with Biogen (Nasdaq: BIIB) under which Biogen will test Anavex’s lead drug candidate, ANAVEX 2-73 in an oligodendrocyte precursor cell (OPC) differentiation assay. A satisfactory result from the OPC assay study may lead to an in vivo remyelination study using a chemical demyelination model.

SkyPeople Fruit Juice (Nasdaq: SPU) 45.0% HIGHER; seeing a high-volume, high-volatility trading session today with shares rising over 58 percent at one point.

Galectin Therapeutics Inc. (Nasdaq: GALT) 43.8% LOWER; announced topline results from NASH-FX, its Phase 2a clinical trial evaluating the efficacy, safety, and tolerability of GR-MD-02 in 30 nonalcoholic steatohepatitis (NASH) patients with advanced fibrosis. This exploratory, single site, short-treatment (four months of therapy), randomized study did not meet its primary biomarker endpoint as measured by LiverMultiScan (LMS, Perspectum Diagnostics), a magnetic resonance imaging test that evaluates inflammation and fibrosis. The trial also did not meet secondary endpoints that measure liver stiffness as a surrogate for fibrosis, with FibroScan® and magnetic resonance elastography (MRE).

Tempur Sealy International, Inc. (NYSE: TPX) 24.6% LOWER; provided an update to its financial guidance for full year 2016 and sales trends in advance of its participation at a financial conference. Tempur Sealy International, Inc. Chairman and CEO Scott Thompson commented, "Third quarter net sales are below our prior expectations. We currently expect net sales for the full year to be down 1 to 3 percent as compared to 2015. For the full year 2016, the Company currently expects Adjusted EBITDA to range from $500 million to $525 million."

Ferrellgas Partners (NYSE: FGP) 22.2% LOWER; reported Q4 EPS of ($6.68), $6.26 worse than the analyst estimate of ($0.42). Revenue for the quarter came in at $409.5 million versus the consensus estimate of $461.99 million. FGP announced that James E. Ferrell, the Company’s founder and Chairman of the Board of Directors, has been appointed as Interim President and Chief Executive Officer, effective immediately.

Harmonic (Nasdaq: HLIT) 18.2% HIGHER; announced it has entered into a warrant agreement with Comcast Corporation (Nasdaq: CMCSA). The agreement provides Comcast with the opportunity to acquire shares of common stock of Harmonic based on specific CableOS™ and other Harmonic product sales and deployment milestones during the term of the warrant.

Origin Agritech Limited (Nasdaq: SEED) 16.3% HIGHER; announced the company has entered into a definitive agreement to sell its proprietary China-based commercial corn seed production and distribution business for RMB 400 million (approximately USD $60 million) to Beijing Shihui Agricultural Development Co, Ltd

Exelixis (Nasdaq: EXEL) 14.2% LOWER; shares lower anid to concerns about cabozantinib and Opdivo data and a numerically lower objected response rate vs other drugs combinations in testing.

PetroQuest Energy, Inc. (NYSE: PQ) 14.0% HIGHER; announced that it has closed its previously announced private exchange offers (the "Exchange Offers") to Eligible Holders (as defined below) of its outstanding 10% Senior Notes due 2017 (CUSIP No. 716748 AA6) and its outstanding 10% Second Lien Senior Secured Notes due 2021 (CUSIP 716748 AE8 / U7167U AB0) for the consideration set forth below, and related consent solicitation to adopt certain amendments to the indenture governing the 2021 Notes and the registration rights agreement with respect to the 2021 Notes.

Cloud Peak Energy Inc. (NYSE: CLD) 12.2% HIGHER; announced the extension of the early tender deadline in connection with the previously announced offers to exchange by its direct and indirect wholly-owned subsidiaries, Cloud Peak Energy Resources LLC and Cloud Peak Energy Finance Corp., of up to $400,000,000 aggregate principal amount of their outstanding 8.50% Senior Notes due 2019 and 6.375% Senior Notes due 2024, for new secured 12.00% Second Lien Notes due 2021 to be issued by the Issuers (the “New Secured Notes”) and, in some cases, cash consideration, upon the terms and conditions described in the Issuers’ Offer to Exchange dated September 12, 2016

National Beverage Corp. (Nasdaq: FIZZ) 9.7% LOWER; lower following negative commentary from Glaucus Research. For more color, click here.

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