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Unusual 11 Mid-Day Movers 2/19: PIII, RAS, MHJ, NR, DRAM Higher; ARYX, ES, MMSI, ELGX Lower

February 19, 2010 12:30 PM EST
ARYx Therapeutics Inc. (NASDAQ: ARYX) 44.4% LOWER; today announced that it has retained Cowen and Company to explore strategic options for ARYx. While discussions continue with pharmaceutical companies regarding the licensing of its oral antiarrythmic agent, budiodarone, the companies with whom ARYx was engaged in advanced discussions have recently indicated that they do not intend to proceed to an agreement. As a result, it has become clear that ARYx will not complete a partnership on the product in the near term. By retaining Cowen, ARYx will explore the possibility of capturing full near-term value for its three lead programs rather than pursuing licensing deals that provide value over an extended period of time.

PECO II, Inc. (Nasdaq: PIII) 43.9% HIGHER; today announced the signing of a definitive agreement with Lineage Power Holdings, Inc., a Gores Group company and a provider of intelligent power conversion solutions. Under the terms of the agreement, Lineage will acquire all of the outstanding shares of PECO II for $5.86 per share in cash. The offer price represents a 51 percent premium over the closing price of PECO II shares on February 17, 2010.

RAIT Financial Trust (NYSE: RAS) 38.8% HIGHER; reports Q4 EPS of $0.24, compared to a loss of $7.78 in the same quarter last year.

Man Sang International Limited (Amex: MHJ) 28% HIGHER; today announced that it and Creative Gains Limited, its wholly owned subsidiary, have entered into a definitive merger agreement with China Metro-Rural Limited to combine the companies in an all stock transaction.

EnergySolutions, Inc. (NYSE: ES) 19.1% LOWER; announced today that its Board of Directors has accepted the resignation of Steve Creamer as CEO of the Company and has appointed Val John Christensen as its Chief Executive Officer and President, effective immediately. Mr. Christensen was also elected to serve on the Board of Directors of the Company.

Newpark Resources Inc. (NYSE: NR) 17.3% HIGHER; reports Q4 EPS of $0.00, 1 cent better than the analyst estimate of ($0.01). Revenue for the quarter was $135.5 million, which compares to the estimate of $123.78 million.

Merit Medical Systems, Inc. (Nasdaq: MMSI) 16.8% LOWER; reports Q4 EPS of $0.18, 3 cents lower than the analyst estimate of $0.21. Revenue for the quarter was $67.5 million, which compares to the estimate of $68.31 million.

Dataram Corporation (NASDAQ: DRAM) 16.7% HIGHER; today announced the signing of a strategic teaming agreement with Government Acquisitions, Inc., a proven provider of IT infrastructure solutions and a trusted advisor to the federal government. Click here to see the full report.

Endologix Inc. (Nasdaq: ELGX) 16.2% LOWER; reports Q4 loss of $0.01, inline with the analyst estimate of ($0.01). Revenue for the quarter was $13.7 million, which compares to the estimate of $14.03 million. Sees FY10 sales of $62-$66 million, versus the consensus of $64.46 million. The stock was also downgraded to Hold at Capstone.

GFI Group Inc. (Nasdaq: GFIG) 16.1% HIGHER; reports Q4 EPS of $0.04, ex-items, 1 cent lower than the analyst estimate of $0.05. Revenue for the quarter was $185.6 million, which compares to the estimate of $194.61 million. Sees Q1 sales up 4-7%.

The Knot, Inc. (Nasdaq: KNOT) 15.6% LOWER; reports Q4 GAAP loss of $0.19, which includes items and may not compare to the analyst estimate of $0.00. Revenue for the quarter was $25.1 million, which compares to the estimate of $25.3 million.

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