Unusual 11 Mid-Day Movers 9/9: ENCO, VVUS, CLZR, HITK, DPTR Higher; OPXA, LRN, ROSG, ELOS Lower

September 9, 2009 12:14 PM EDT

Encorium Group, Inc. (Nasdaq: ENCO) 289.5% HIGHER; the company announced the signing of approximately $8.7 million of new business contracts, including selection by a major pharmaceutical company for participation in a swine flu vaccine program.

VIVUS, Inc. (Nasdaq: VVUS) 68.7% HIGHER; announced positive results from two final, phase 3 pivotal 56-week studies, EQUIP (OB-302) and CONQUER (OB-303), evaluating the safety and efficacy of Qnexa, an investigational drug, in more than 3,750 patients across 93 sites. Click here for the full report.

Candela Corporation (NASDAQ: CLZR) 33.5% HIGHER; Syneron Medical Ltd. (NASDAQ: ELOS) and Candela entered into a definitive agreement to combine the companies in an all stock transaction, creating a global leader in medical aesthetic devices. Under the terms of the merger agreement, Candela shareholders will receive 0.2911 ordinary shares of Syneron for each share of Candela common stock they own. Based upon the closing stock price of Syneron common stock on September 8, 2009, this represents $2.84 per share of consideration to be received by Candela shareholders, or a total consideration of approximately $65 million.

Hi-Tech Pharmacal Co., Inc. (NASDAQ: HITK) 25.7% HIGHER; reported that first quarter sales rose 175% to $43.48 million and EPS rose to $0.73 from $0.13.

Delta Petroleum Corp. (Nasdaq: DPTR) 23.7% HIGHER; is surging higher this morning despite a new 'Neutral' rating and $2.05 price target at Macquarie this morning. Volume is already double its average daily volume.

Energy XXI (Bermuda) Limited (Nasdaq: EXXI) 23.1% HIGHER; since reporting its Q1 earnings on Friday of last week, the stock has been the target of momo traders. The stock has rallied more than 110% since the results.

Opexa Therapeutics, Inc. (NASDAQ: OPXA) 18.9% LOWER; correcting today following yesterday's 270% surge on favorable data from a trial on Tovaxin.

K12, Inc. (NYSE: LRN) 14.9% LOWER; reports Q4 loss of $0.02, inline with the analyst estimate of ($0.02). Revenue for the quarter was $72.2 million, versus the consensus of $76.49 million.

Rosetta Genomics Ltd. (Nasdaq: ROSG) 13.1% LOWER; Cantor Fitzgerald downgrades Rosetta Genomics from Buy to Hold. Price target slashes from $11 to $3. Click here for more color on the downgrade.

Syneron Medical Ltd. (NASDAQ: ELOS) 8.6% LOWER; falling on news that it will merge with Candela.

United Natural Foods (Nasdaq: UNFI) 7% LOWER; reports Q4 EPS of $0.36, 1 cent better than the analyst estimate of $0.35. Revenue for the quarter was $853.5 million, versus the consensus of $873.28 million. For fiscal 2010, UNFI expects EPS in the range of approximately $1.48 to $1.58 per share versus consensus of $1.56.

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

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