Unusual 11 Mid-Day Movers 3/27: CWCO, AINV, SNX, CLRT Higher; OSIR, CBK, KHD, MGRC Lower

March 27, 2009 1:33 PM EDT

Consolidated Water (Nasdaq: CWCO) 33.5% HIGHER; not hearing any company-specific news items today. Volume in the stock is strong: shares have already traded hands 525,000 times, which compares to the average daily volume of 77,000.

Apollo Investment (Nasdaq: AINV) 27.8% HIGHER; BMO Capital upgrades the stock from Market Perform to Outperform. Price target $5.

SYNNEX Corporation (NYSE: SNX) 26.5% HIGHER; reports Q1 EPS of $0.59, 7 cents better than the analyst estimate of $0.52. Revenue for the quarter was $1.73 billion, versus the consensus of $1.74 billion. Sees Q2 EPS $0.47 to $0.50 versus 47 cents. Sees Q2 revs $1.63B to $1.73B versus $1.72 billion. Needham also upgraded Synnex from Hold to Buy with a price target of $21.

Clarient, Inc. (Nasdaq: CLRT) 25.9% HIGHER; announced yesterday that it has entered into a $50 million convertible preferred stock private placement with Oak Investment Partners, a multi-stage venture capital firm with $8.4 billion in committed capital. $40 million of the preferred stock will be sold in two initial tranches. The additional $10 million of preferred stock will only be sold upon further mutual agreement of the parties. The Company received $29.1 million in proceeds from the first tranche today. The proceeds of this first tranche were used to retire approximately $23.8 million of Clarient's existing debt obligations, pay transaction expenses, and provide working capital. It is expected that the second tranche will close within 60 days. The second tranche proceeds of $10.9 million will be used to retire any remaining debt obligations of the Company to Safeguard Scientifics, Inc. (NYSE: SFE) and provide additional working capital to fund the Company's growth.

Osiris Therapeutics, Inc. (NASDAQ: OSIR) 25.5% LOWER; announced today that it has elected to end enrollment at 210 patients in its Phase III trial evaluating Prochymal for Crohn's disease. Click here for the full report.

Christopher & Banks (NYSE: CBK) 25% LOWER; sees Q4 EPS from continuing operations of $0.81-$0.84, including a $0.17-$0.19 one-time charge related to store asset impairment, severance and IT related costs. Same store sales during the quarter fell 20%. Sees FY09 sales of about $531 million, with a loss of $0.22-$0.25. The Street is currently expecting sales of $536.87 million, with a gain of $0.18.

KHD Humboldt Wedag International Ltd. (NYSE: KHD) 21.7% LOWER; reports FY08 loss of $0.23, versus the analyst estimate of $2.12 and compared to $1.39. Revenue for the quarter was $638.35 million, versus the consensus of $596.51 million.

Barclays (NYSE: BCS) 20.4% HIGHER; following it's stress test by Britain's financial regulator, the bank has come out saying it does not need to raise any additional capital.

McGrath RentCorp (Nasdaq: MGRC) 17.4% LOWER; Sidoti & Co. downgrades the stock from Buy to Neutral.

Xyratex Ltd (Nasdaq: XRTX) 16.9% LOWER; reports a Q1 loss of $0.37, 11 cents worse than estimates. Revenues for the first quarter were $183.9 million vs. $214.74 million consensus.

Evergreen Solar (Nasdaq: ESLR) 14.7% HIGHER; following yesterday's massive sector-wide surge in solar stocks on hopes that China will support the industry, Evergreen is one of the only solar stocks that is seeing continued momentum. Volume is massive in this name today: the stock has already been traded 8.3 million times, which compares to its average daily volume of 3.65 million.

To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.

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Related Entities

• Needham & Co
• BMO Capital
• Barclays
• Oak Investment Partners
• Sidoti & Company
• Unusual 11 Mid-Day Movers

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