Unusual 11 Mid-Day Movers: EPIX, LOCM, PIR Higher; TUES, STAR Lower
EPIX Pharmaceuticals (NASDAQ: EPIX) 34% HIGHER; announced compelling top-line results from a Phase 2a two-week clinical trial of its novel 5-HT4 agonist, PRX-03140, in patients with Alzheimer's disease.
VISICU, Inc. (NASDAQ: EICU) 32.5% HIGHER; entered into a merger agreement through which an affiliate of Philips will acquire the entire share capital of VISICU for $12.00 per share.
Tuesday Morning Corporation (Nasdaq: TUES) 30.1% LOWER; lowers guidance. Sees 2008 revenue in the range of $943 to $955 million with low single digit negative comparable store sales. The Wall Street consensus is $977.05 million. Diluted earnings per share, based on these sales results, would be approximately $0.58 to $0.65 per diluted share for the fiscal year 2008. The Wall Street consensus is $0.76.
Local.com Corp. (Nasdaq: LOCM) 20.9% HIGHER; may be feeling upward pressure today as a result of Borrell Associates ranking Local.com as the leader in online advertising revenue growth for 2007, with a 138% year over year increase.
Pier 1 Imports (NYSE: PIR) 18.3% HIGHER; appears to be moving higher today on no recent news.
Starent Networks Corp. (Nasdaq: STAR) 13.2% LOWER; downgraded by J.P. Morgan from Overweight to Neutral.
Quicksilver Resources (NYSE: KWK) 12.6% HIGHER; upgraded at Canaccord Adams from Hold to Buy with a $66 price target, saying they were impressed with the growth outlook following a recent visit. Also announced a $885 million budget for 2008.
eHealth, Inc. (Nasdaq: EHTH) 12% LOWER; is being corrected after yesterdays 10% rally in the Company's stock price.
Zix Corp. (Nasdaq: ZIXI) 11.7% LOWER; appears to be selling-off in mid-day for no apparent reason.
EMCORE Corp. (Nasdaq: EMKR) 10.4% HIGHER; announced it would buy certain telecom assets from Intel's (Nasdaq: INTC) optical platform division for about $85 million.
WellCare Health Plans, Inc. (NYSE: WCG) 3.2% LOWER; continues yesterdays 8.7% drop, which was related to fears of more negative new related to the DOJ probe.
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