Unusual 11 Mid-Day Movers 9/5: SNDK, UST, SIRF, SPNC Higher; PEC, ABM, GBE, SWHC Lower

September 5, 2008 12:32 PM EDT

SankDisk (Nasdaq: SNDK) 27.3% HIGHER; issued a statement in response to rumors, Samsung Electronics is looking to acquire the company. The company said, "SanDisk periodically has conversations with multiple parties, including Samsung."

UST (NYSE: UST) 22.5% HIGHER; Altria Group (NYSE: MO) in in advanced talks to buy UST, people with close knowledge of the negotiations said. Terms of a deal could not be learned.

SiRF Technology Holdings Inc. (Nasdaq: SIRF) 21.9% HIGHER; is moving higher on speculation the company will announces a patent infringement settlement with Broadcom Corporation (Nasdaq: BRCM). In August, a International Trade Commission judge ruled that SiRF infringe six patents related to improving global positioning system positioning system processing and sensitivity held by Global Locate, Inc., a wholly-owned subsidiary of Broadcom.

Pike Electric Corp. (NYSE: PEC) 19.6% LOWER; reports Q4 EPS of $0.17, 3 cents better than the analyst estimate of $0.14. Revenues for the quarter were $137.8 million, versus the consensus of $136.47 million. Sees FY09 EPS of $0.55-$0.65, versus the consensus of $0.59 and revs of $620-$650 million, versus the Street estimate of $590 million.

ABM Industries (NYSE: ABM) 19.4% LOWER; reports Q3 EPS of $0.32, versus the analyst estimate of $0.39 and compared to $0.24 in Q307. Revenues for the quarter were $930.64 million, compared to $690.94 million in the same quarter last year. ABM narrows its FY08 adj-EPS guidance to $1.10-$1.15, versus the consensus of $1.25. (only 1 analyst covers the stock)

Spectranetics Corporation (NASDAQ: SPNC) 16.1% HIGHER; this morning the company confirmed it was jointly served by the U.S. FDA and Immigration and Customs Enforcement yesterday morning with a search warrant issued by the United States District Court, District of Colorado. Shares are rebounding today after yesterday's 47% drop.

Grubb & Ellis Company (NYSE: GBE) 12.8% LOWER; Michael Kojaian, the largest shareholder and a director of the company, this morning disclosed insider purchases made yesterday (09/04) totaling 1 million shares. Yesterday, Kojaian disclosed purchases of 1 million shares made on Wednesday (09/03). This brings the total shares bought by Kojaian to 2 million shares so far this week. As the stock jumped more than 38% on the news yesterday, today's move to the downside appears to be a slight correction.

Smith & Wesson Holding Corporation (Nasdaq: SWHC) 12.2% LOWER; reports Q2 EPS of $0.05, 2 cents better than the analyst estimate of $0.03. Revenues for the quarter were $78 million, versus the consensus of $75.38 million.

Quiksilver (NYSE: ZQK) 12.1% HIGHER; reports Q2 adj-EPS of $0.22, 1 cent better than the analyst estimate of $0.21. Revenues for the quarter were $564.9 million, versus the consensus of $543.92 million. Sees FY08 EPS slightly below $0.90, which includes a $0.03 tax benefit, versus the consensus of $0.86.

Cascade Corporation (NYSE: CAE) 12.1% LOWER; reports Q2 EPS of $0.94, 9 cents better than the analyst estimate of $1.03. Revenues for the quarter were $150.1 million, versus the consensus of $156.03 million.

PLATO Learning (Nasdaq: TUTR) 12% HIGHER; reports a Q3 loss of $0.05, ex-items, versus the analyst estimate of ($0.16). Revenues for the quarter were $18.64 million, versus the consensus of $17.45 million.

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