Unusual 11 Mid-Day Movers 6/19: AHG, ESLR, CWST, GU Higher; TGIC, HUN, BE, PIR Lower

June 19, 2008 12:08 PM EDT

Triad Guaranty Inc. (Nasdaq: TGIC) 40% LOWER; today announced that it has ended its negotiations with Lightyear Capital LLC to form a new mortgage insurance company. Triad also reported today that Freddie Mac informed Triad that the appeal of its subsidiary's suspension as an approved mortgage insurer has been denied. As a result of these developments, Triad's subsidiary, Triad Guaranty Insurance Corporation, will cease issuing commitments for mortgage insurance effective July 15, 2008

Huntsman (NYSE: HUN) 39.9% LOWER; Hexion Specialty Chemicals filed suit in the Delaware Court of Chancery alleging its $10.6 billion merger agreement with Huntsman is no longer viable.

BearingPoint (NYSE: BE) 32.7% LOWER; after closing at $1.04 yesterday, shares of BearingPoint fell below the $1.00 level and continued falling sharply as this psychological level was breached.

Apria Healthcare Group Inc. (NYSE: AHG) 27.4% HIGHER; entered into a definitive merger agreement with an affiliate of The Blackstone Group (NYSE: BX) in a transaction valued at approximately $1.6 billion.

Pier 1 Imports (NYSE: PIR) 26.8% LOWER; reports a Q1 loss of $0.37, which may not compare to the consensus of a $0.15 loss. Revenues came in at $310 million, versus the consensus of $338.2 million. Q1 comp sales fell 5.4%. Sees year comp sales unchanged to 'slightly positive'.

Discovery Laboratories, Inc. (Nasdaq: DSCO) 21.8% LOWER; today announced that it has received clarification from the U.S. FDA on its proposals in regards to potentially gaining U.S. marketing approval of SURFAXIN(r) and believes that it could submit its formal response to the Approvable Letter in September 2008. Discovery Labs also believes that this response may be designated by the FDA as a Class 1 resubmission with a target review period of 60 days.

Evergreen Solar, Inc. (Nasdaq: ESLR) 13.5% HIGHER; signed two new long-term sales contracts valued at approximately $600 million with United States-based groSolar and German-based Wagner & Co Solartechnik GmbH. These contracts extend through 2012 and bring the company’s total contractual backlog to approximately $1.7 billion.

Casella Waste Systems, Inc. (Nasdaq: CWST) 13.7% HIGHER; reports a Q4 loss of $0.18, ex-items, 4 cents better than the analyst estimate of ($0.22). Revenues for the quarter were $139.6 million, versus the consensus of $137.66 million. Sees FY09 revs of $610-$628 million, versus the consensus of $605.7 million. JP Morgan also upgraded Casella to Overweight.

Gushan Environmental Energy (NYSE: GU) 10.5% HIGHER; shares of Gushan have spiked intraday on reports that China could raise the retail price of gas and diesel by more than 1,000 Yuan per ton.

The Pantry, Inc. (NASDAQ: PTRY) 10.5% HIGHER; reaffirms its most recent financial guidance: the company sees merchandise and retail gasoline sales for FY08 in the range of $1.6-$1.7 billion and 2.1-2.2 billion gallons, respectively. The merchandise gross profit margin is expected to be approximately 37%, with a retail gasoline margin of $0.10-$0.12 per gallon. The Company also continues to expect that fiscal 2008 store operating and general and administrative expenses will be at the low end of the previously announced range of $615-$630 million. The Pantry also said that it expects Q3 EPS to exceed the current Street estimate of $0.23.

The Talbots, Inc. (NYSE: TLB) 6% HIGHER; today announced the promotions of John Fiske to the position of Executive VP of Human Resources, Julie Lorigan to the position of Director of Investor Relations and Carol Stone to the position of Senior VP of Finance.

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