Unusual 11 Midday Movers 01/09: (INHX) (IDIX) (LCAV) (CVV) Higher; (THRX) (IPCM) (PWRD) (ATX) Lower

Inhibitex, Inc. (Nasdaq: INHX) 140.2% HIGHER; Bristol-Myers Squibb Company (NYSE: BMY) announced a definitive agreement to acquire Inhibitex for $26.00 per share in cash, or approximately $2.5 billion.

Idenix Pharma (Nasdaq: IDIX) 39.4% HIGHER; trading higher amid news of the Bristol-Myers bid for Inhibitex.

Theravance, Inc. (Nasdaq: THRX) 32.2% LOWER; GlaxoSmithKline (NYSE: GSK) and Theravance today announced the completion of the phase III registration programme for the once-daily investigational medicine Relovair"* (fluticasone furoate "FF"/vilanterol "VI") in patients with chronic obstructive pulmonary disease (COPD) and of all but one of the pivotal studies in patients with asthma. For COPD, GSK intends to submit regulatory applications in the US and Europe in mid-2012. For asthma, GSK plans to submit an application in Europe in mid-2012 and will continue discussions with the FDA on the regulatory requirements for a US asthma indication.

IPC The Hospitalist Company, Inc. (Nasdaq: IPCM) 29.9% LOWER; cuts FY11 EPS guidance from $1.78-$1.86 to $1.70-$1.74, which compares to the Street estimate of $1.77. Sales move from $463-$465 million to $455-$458 million, which compares to the Street estimate of $464.2 million. The stock was downgraded at Jefferies and Dougherty this morning.

Perfect World Co., Ltd. (Nasdaq: PWRD) 26.7% LOWER; is seeing early pressure on reports of a U.S. government investigation. Traders are passing aroundthis link.

LCA-Vision (Nasdaq: LCAV) 25.3% HIGHER; continuing higher over the $5.50 level following a 50 percent surge last week amid Q4 results. Zacks Investment Research Inc. also gave the company’s shares a Number 1 rating, which is equivalent to a Strong Buy rating, on January 6th.

The Bon-Ton Stores Inc. (Nasdaq: BONT) 23.6% HIGHER; shares surged over their 200-day moving average and are trading ex-dividend as their company is scheduled to pay a $0.05 quarterly dividend on February 1st.

Achillion Pharma (Nasdaq: ACHN) 20.6% HIGHER; trading higher for the same reason as Idenix.

AT Cross (NYSE: ATX) 17.4% LOWER; sees FY11 EPS of 62-65 cents on sales growth of 10 percent. The Street is currently looking for FY11 EPS of 66 cents. Sees FY12 EPS 70-75 cents, which compares to the Street estimate of 84 cents.

CVD Equipment (Nasdaq: CVV) 17% HIGHER; shares bounced over the $11 level this morning and have traded around the $12 level for most of the day.

Transwitch (Nasdaq: TXCC) 11.7% LOWER; now sees Q4 sales of about $6.3 million, below the company's previous guidance of $7 million given on November 1st. The Street is currently looking for Q4 sales of $6.98 million. The company cited "a contractual dispute on a service agreement with a North American customer."