10/17 StreetInsider.com Unusual Mid-day Movers

InterMune Inc. (Nasdaq: ITMN) 27.2% HIGHER; Roche and InterMune entered into an exclusive worldwide collaboration agreement to develop and commercialize products from InterMune's HCV protease inhibitor program. Upon closing, InterMune will receive from Roche an upfront payment of $60 million. In addition, assuming the successful development and commercialization of ITMN-191 in the U.S. and other countries, InterMune could potentially receive up to $470 million in milestones, including $35 million within the next 12 months.

Lumera Corp. (Nasdaq: LMRA) 19.7% HIGHER; Continued momentum following today's 216% run-up on successful testing of its millimeter wave wireless bridge that will enable government and commercial entities to transmit vast amounts of data via a variety of high speed telecommunications networks.

Pemstar Inc. (NASDAQ: PMTR) 18.9% HIGHER; Announced Benchmark Electronics, Inc. (NYSE: BHE) and Pemstar have signed a definitive merger agreement pursuant to which each outstanding share of Pemstar common stock will be converted into the right to receive 0.160 of a common share of Benchmark at transaction close. Based on Benchmark's closing price of $28.93 on October 16, 2006, the transaction values Pemstar at $4.63 per common share, or approximately $300 million including the assumption of Pemstar net debt. The merger is expected to be a tax-free exchange of common shares.

Broadwing Corporation (Nasdaq: BWNG) 14.5% HIGHER; Level 3 Communications (Nasdaq: LVLT) announced that it has signed a definitive agreement to acquire Broadwing for $8.18 of cash plus 1.3411 shares of Level 3 common stock for each share of Broadwing.

Robbins & Myers (NYSE: RBN) 13.7% HIGHER; Reports Q4 EPS of $0.56, 16 cents better than estimates.(0.40) (Excluding special items, diluted net earnings per share were $0.64 per share, as compared with $0.20 in the fourth quarter of 2005) Revenues were $183 million vs. $170.42 million consensus.

CBOT Holdings Inc. (NYSE: BOT) 13.25% HIGHER; Chicago Mercantile Exchange Holdings Inc. and CBOT Holdings, Inc. announced a definitive agreement to merge the two organizations to create the most extensive and diverse global derivatives exchange.

Sapient (Nasdaq: SAPE) 12.9% LOWER; Announced that its board of directors has named executive vice president Alan J. Herrick to the position of president and chief executive officer. Herrick has been elected to Sapient's board of directors. He succeeds former co-chairman and chief executive officer Jerry A. Greenberg, who has resigned from the company and its board.

Lear Corporation (NYSE: LEA) 12.4% HIGHER; Announced that it has entered into a definitive agreement to issue $200 million of common stock in a private placement to affiliates of and funds managed by Carl C. Icahn (Icahn). The offering includes 8,695,653 shares of Lear common stock issued at $23.00 per share. The transaction is subject to receipt of applicable antitrust clearance and is expected to close within forty-five days.

Callaway Golf Company (NYSE: ELY) 10.6% LOWER; Sees third quarter net sales of $193 million to $195 million, with a a pro forma loss per diluted share is expected to range from $0.12 to $0.14. The current consensus is $223.08 million and earnings of $0.08, respectively.

A. O. Smith Corporation (NYSE: AOS) 10% LOWER; Reports Q3 earnings of $0.55, 3 cents better than estimates. Revenues were $564.0 million vs. $560.89 million consensus. Sees FY EPS between $2.30 and $2.40 vs. $2.50 consensus.

Jefferies Group, Inc. (NYSE: JEF) 9.3% LOWER; Reports Q3 EPS of $0.32, in-line with estimates. Revenues were $340.6 million vs. $348.38 million consensus.

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