Morning Movers 9/3: UPI, SVA, CRIS, BNVI, ZUMZ, VICL, MEDQ Higher; AMED, INWK, HOV, FDO, VG Lower

September 3, 2009 10:04 AM EDT
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Uroplasty, Inc. (Amex: UPI) 46.4% HIGHER; today highlighted results published in the September, 2009 edition of THE JOURNAL OF UROLOGY(R) from the OrBIT trial of its Urgent PC System. The Urgent PC System is a proprietary, minimally invasive percutaneous tibial nerve stimulation device designed for office-based treatment of urinary urgency, urinary frequency and urge incontinence, symptoms often associated with overactive bladder.

Amedisys, Inc. (NASDAQ: AMED) 26.2% LOWER; today announced that it has acquired a hospice business with nine locations in South Carolina and one location in Mississippi. This acquisition, which represents Amedisys' entry into the hospice business in both South Carolina and Mississippi, will allow Amedisys to provide coverage to the entire state of South Carolina and to 17 counties in Mississippi. The business operates as Winyah Community Hospice Care in South Carolina and Allcare Hospice in Mississippi. The agencies had annualized revenue of approximately $17 million, but are not expected to add materially to Amedisys earnings in 2009. Separately, Amedisys has accepted the resignation of Mr. Larry Graham, as President and COO of the Company. The resignation is effective September 3, 2009. Mr. Graham's duties will be temporarily assumed by William Borne, the Company's Chairman and CEO. The Company also announced the departure of Chief Information Officer Alice Ann Schwartz, effective September 3, 2009.

Sinovac Biotech Ltd. (NYSE: SVA) 21.2% HIGHER; announced today that the State Food and Drug Administration has approved the registration application for PANFLU.1, Sinovac's H1N1 vaccine, and has issued Sinovac a production license for this vaccine. Click here for the full report.

Curis, Inc. (NASDAQ: CRIS) 20% HIGHER; announced that two publications describing clinical data generated with GDC-0449 were published in the current edition of The New England Journal of Medicine (NEJM). The first publication, entitled "Inhibition of the Hedgehog Pathway in Advanced Basal-Cell Carcinoma," provides an overview of the Phase I data for the 33 basal cell carcinoma (BCC) patients treated in this study. The second paper is a case study entitled "Treatment of Medulloblastoma with Hedgehog Pathway Inhibitor GDC-0449," which provides an overview of the treatment of a single adult medulloblastoma patient with GDC-0449.

Bionovo, Inc. (Nasdaq: BNVI) 19.2% HIGHER; announced it will be presenting the positive results from the phase 2 clinical trial of their lead drug candidate for postmenopausal symptoms, Menerba, to the international community at the 8th Annual European Society for Gynecology in Rome, Italy. Click here for the full report.

InnerWorkings, Inc. (Nasdaq: INWK) 18.3% LOWER; lowers its FY09 sales guidance from $450-$475 million to $400-$425 million, versus the consensus of $443.22 million. EPS for the year move from $0.35-$0.39 to $0.14-$0.20, which compares to the Street estimate of $0.28.

Zumiez Inc. (NASDAQ: ZUMZ) 16.5% HIGHER; August comparable store sales decreased 12.1% for the four-week period, versus a comparable store sales increase of 0.2% in the year ago period. Zumiez announced that total net sales for the four-week period ended August 29, 2009 decreased 2.9% to $51.7 million, compared to $53.2 million for the four-week period ended August 30, 2008. The stock was upgraded at William Blair and MKM Partners

Vical (Nasdaq: VICL) 15.7% HIGHER; moving higher on news that Novartis (NYSE: NVS) said patients needs only one 15 microgram dose of the vaccine to be effective in H1N1. Also, Sinovac Biotech received approval in China to produce its H1N1 vaccine.

MedQuist Inc. (Nasdaq: MEDQ) 14.9% HIGHER; today announced it has entered into a five-year $25 million revolving credit facility. The credit facility provides committed revolving funding through August 2014 and includes an option whereby the Company may increase its maximum credit up to $40 million, based on certain terms and conditions. The credit facility is a working capital facility that may be used for general corporate purposes. The Company does not currently anticipate borrowing under the credit facility.

Oxford Industries (NYSE: OXM) 14.6% HIGHER; reports Q2 EPS of $0.30 adjusted, 23 cents better than the analyst estimate of $0.07. Revenue for the quarter was $192.9 million, versus the consensus of $189.91 million. Sees FY09 revs $765M to $780M. Sees FY09 EPS 90c to $1.05. The stock was upgraded to Buy at KeyBanc.

GreenHunter Energy, Inc. (Amex: GRH) 14.3% HIGHER; GreenHunter Mesquite Lake, LLC, a wholly-owned subsidiary of GreenHunter Energy, announced today the execution of a new twenty year power sales agreement for 100% of the net output of the GreenHunter Mesquite Lake biomass-fired power plant located in Southern California. In conjunction with the new power sales agreement, the Company announced the execution of an Interconnection Agreement between GreenHunter Mesquite Lake and the Imperial Irrigation District for 100% of the net output of the biomass-fired power plant. Click here for the full report.

Hovnanian Enterprises, Inc. (NYSE: HOV) 14.2% LOWER; reports Q3 loss of $2.16, versus the analyst estimate of ($1.52). Revenue for the quarter was $387.1 million, versus the consensus of $392.18 million. Q3 delivery of 1,322 homes. Credit Suisse also downgraded the stock to Underperform.

Fannie Mae (NYSE: FNM) 13% HIGHER; continuing higher from recent momentum. Freddie Mac (NYSE: FRE) and AIG have also been trading similarly.

PharmAthene, Inc. (Amex: PIP) 10.9% HIGHER; announced today that data from the Company's third generation recombinant protective antigen anthrax vaccine program and its Valortim((R)) anthrax anti-toxin program were presented at the Bacillus - ACT 2009 meeting, August 30 - September 3, 2009, organized by the American Society for Microbiology. Click here for the full report.

Del Monte Foods Co. (NYSE: DLM) 10.6% HIGHER; reports Q1 EPS from continuing operations of $0.30, versus the analyst estimate of $0.04. Revenue for the quarter was $813.7 million, versus the consensus of $771.98 million. Raises its FY10 EPS guidance from $0.76 to $0.80 to $0.88-$0.92. The Street is expecting FY10 EPS of $0.80.

AIG (NYSE: AIG) 10.4% HIGHER; after selling-off for a few days, shares of bailed-out insurer, AIG, are moving higher for the second straight session. Shares are up 8% to $41 and have rallied through yesterday's intra-day high. Today, the Wall Street Journal highlighted the antics of outspoken new CEO Robert Benmosche. There is no doubt that Benmosche's market comments have helped propel the shares higher. Will this be short term or long term? Click here to see our full report.

Helicos BioSciences Corporation (NASDAQ: HLCS) 9.4% HIGHER; announced today its operating highlights for the quarter ended June 30, 2009 and other recent developments following the filing of its Quarterly Report on Form 10-Q for the period ended June 30, 2009. Click here for the full report.

China Security & Surveillance Technology, Inc. (NYSE: CSR) 9.2% HIGHER; today announced it has signed an E-city project framework agreement valued at approximately RMB 1 billion (approximately US$146.2 million based on an exchange rate of USD 1.00 to RMB 6.84) with the local government of Haimen City in the southeast of Jiangsu Province.

Freddie Mac (NYSE: FRE) 9.2% HIGHER; see Fannie.

Family Dollar Stores (NYSE: FDO) 9.1% LOWER; reported comparable store sales for the fourth quarter increased 1.0%. Net sales for the fourth quarter ended August 29, 2009, increased 2.6% to approximately $1.811 billion compared with $1.766 billion for the fourth quarter ended August 30, 2008. FDO re-affirms Q4 EPS between $0.39 and $0.43 versus consensus of $0.47.

Costco Wholesale Corporation (NASDAQ: COST) 8.2% HIGHER; Comparable sales for the four-week retail-reporting month of August were down 2%, (-4% in the U.S. and +3% International). This was better than the analyst consensus of a 5.7% drop for August. Excluding the negative impacts from gasoline deflation and foreign exchange, Comparable sales werer up 2% (0% in the U.S. and +7% International). Costco reported net sales of $5.4 billion for the month of August, the four weeks ended August 30, 2009, compared to net sales of $5.4 billion in the same four-week period last year.

Vonage (NYSE: VG) 8.1% LOWER; correcting following yesterday's 20% jump on news that Apple has accepted its application for an iPhone app.

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