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Unusual 11 Mid-Day Movers 03/28: (NVGN) (OBCI) (GSIC) Higher; (CBEH) (FUQI) (WAC) Lower

March 28, 2011 1:40 PM EDT
Novogen (Nasdaq: NVGN) 119.8% HIGHER; shares have rallied extremely sharply this morning however we are not hearing any company-specific news. Volume today is better then ten-times the trailing three-month daily average.

Ocean Bio-Chem Inc. (Nasdaq: OBCI) 59.5% HIGHER; reports FY10 EPS of $0.24, versus $0.14 reported for the same period a year ago. Revenue for the quarter was $27.40 million, compared to $24.63 million in Q409.

GSI Commerce, Inc. (Nasdaq: GSIC) 50.0% HIGHER; entered an agreement to be acquired by eBay (Nasdaq: EBAY) for $29.25 per outstanding common share.

Spectrum Control, Inc. (Nasdaq: SPEC) 39.9% HIGHER; in a deal to be acquired by API Technologies Corp. (OTCBB: ATNY) foe $20 per outstanding common share.

Rural/Metro Corporation (Nasdaq: RURL) 36.4% HIGHER; entered into an agreement whereby it will be acquired by Warburg Pincus for $17.25 per outstanding share of common stock, or about $440 million total. Closing is expected in Q2.

China Integrated Energy (Nasdaq: CBEH) 29.2% LOWER; shares remain extremely volatile this week following news on Monday of last week of a $20 million buyback program. The stock is also seeing increased volume as shares passed though the $3.50 support level that China Integrated breached following their fourth-quarter earnings report on March 10th.

IVAX Diagnostics Inc. (AMEX: IVD) 26.1% HIGHER; upside comes ahead of earnings due later Monday, which was confirmed by a source familiar with the company. This source also indicated traders could be speculating on an update from majority-holder ERBA Diagnostics Mannheim GmbH about its plans with the company. One possibility could be a roll-up of the entire company.

Fuqi International, Inc. (Nasdaq: FUQI) 14.6% LOWER; reports that the completion of the audit of the Company's 2009 financial statement has been delayed due to the internal investigation into the cash transfer transactions.

Walter Investment Management Co. (AMEX: WAC) 12.3% LOWER; has entered into a definitive agreement for the acquisition of GTCS Holdings LLC in a transaction valued at $1.065 billion.

On Track Innovations Ltd. (Nasdaq: OTIV) 11.5% LOWER; reports Q4 loss of $0.14, versus the analyst estimate of $0.00. Revenue for the quarter came in at $10.04 million, versus the consensus estimate of $10.20 million.

CNinsure Inc. (NASDAQ: CISG) 11.2% LOWER; late Friday the company announced that it will invest RMB500 million in order to develop the first of its kind independent e-commerce platform in China. CNinsure also said that it will sell its Datong life unit for $63.7 million. This morning JPMorgan downgraded the stock from Neutral to Underweight. PT slashed from $20 to $12.

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

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JPMorgan, Warburg Pincus, Unusual 11 Mid-Day Movers, Earnings, Spectrum Control, Inc./API Technologies