Unusual 11 Mid-Day Movers 03/17: (FTK) (RNIN) (UCBI) Higher; (TBSI) (GMR) (CBEH) Lower

Flotek (NYSE: FTK) 29.4% HIGHER; reports Q4 sales of $47.5 million, versus the consensus of $40.79 million.

TBS International (Nasdaq: TBSI) 28.9% LOWER; lower since filing their 10-K with the U.S. SEC. The company said that the state of the ocean freight market may cause the company to go into default upon the breach of any of their financial covenants. "Due to the continuing imbalance of supply and demand, we are operating at freight and charter rates that would cause us to fail to comply with certain financial covenants in our credit facilities, even as recently modified. Unless the Baltic Dry Index, and in particular the freight and charter rates that we are able to obtain, strengthen significantly in the near future, it is likely that by June 30, 2011 we would fail to meet the tests under certain of our financial covenants and that we would need to enter into further negotiations with our lenders to seek further modifications of those financial covenants. Failure to comply with our financial covenants or obtain modifications or waivers of such covenants would have a material adverse affect on our business operations, financial condition, and liquidity, and would raise substantial doubt about our ability to continue as a going concern."

Wireless Ronin Technologies, Inc. (Nasdaq: RNIN) 28.0% HIGHER; announced today that it has entered into a teaming and co-marketing agreement with Sprint (NYSE: S) to offer customers a comprehensive, fully-hosted digital signage and content management solution. The partnership pairs Sprint wireless technologies with Wireless Ronin's end-to-end corporate digital signage network.

United Community Banks (Nasdaq: UCBI) 27.5% HIGHER; reports that it has entered a pact to raise $380 million through stock and preferred shares. Shares will be sold at $1.90 per. The company said it expects charges of $140 - $155 million related to the capital raise.

Theragenics (NYSE: TGX) 24% HIGHER; shares have surged extremely sharply on very heavy volume this afternoon following reports that a unit of Eckert & Ziegler have offered to takeover the company for $2.20/share in cash. The deal would be valued around $74 million.

Maxygen, Inc. (Nasdaq: MAXY) 23.8% HIGHER; today announced that Astellas Pharma Inc. has exercised its option to purchase all of Maxygen’s equity interests in Perseid Therapeutics LLC at the current exercise price of $76.0 million.

General Maritime (NYSE: GMR) 22.8% LOWER; files to delay its 10-K. The company expects to report an adjusted-loss of about $89 million.

China Integrated Energy (Nasdaq: CBEH) 20.3% LOWER; shares are continuing lower today following a 16% decline yesterday amid fraud allegations from unidentified research group Sinclair Upton Research. Volume remains very heavy.

YRC Worldwide (Nasdaq: YRCW) 19.1% LOWER; the stock can not get any traction after falling below the $2 level on Wednesday. Shares tumbled nearly 30% yesterday.

Sanmina-SCI Corporation (Nasdaq: SANM) 18.1% LOWER; announced that its President and COO Hari Pillai resigned and also lowered its second quarter outlook. Sanmina expects revenue for the second quarter to be in the range of $1.56 to $1.60 billion and non-GAAP earnings per share to be in the range of $0.28 to $0.32. The consensus is $1.65 billion and $0.41, respectively. The company cited "a delay in defense market projects and shipments due to Federal budget uncertainty, recently resolved labor strike in India delaying certain product shipments, and short-term softness in the optical market near the end of the quarter."

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