Unusual 11 Mid-Day Movers 9/24: UQM, FRE, FNM, DSL Higher; RNIN, NFP, HEES, CTRN Lower

September 24, 2008 1:26 PM EDT
UQM Technologies (AMEX: UQM) 50.9% HIGHER; the company has not released any news recently. We are hearing that following Chrysler's announcement yesterday that it is planning to produce three electric-powered cars, investors are speculating that a UQM product could be used in one of the cars.

Freddie Mac (NYSE: FRE) 48.5% HIGHER; shares continue trending higher today. Since Thursday, when Treasury Secretary Henry Paulson said the government may be considering some kind of massive plan to help the financial markets, shares of Freddie have rallied more than 500%.

Fannie Mae (NYSE: FNM) 45.8% HIGHER; see Freddie.

Wireless Ronin Technologies, Inc. (Nasdaq: RNIN) 28.1% LOWER; today announced the resignation of CEO Jeffrey Mack. The board has appointed Stephen Birke, as interim President and CEO, effective immediately. Under the board's direction, Wireless Ronin is beginning a search for a permanent president and CEO.

Downey Financial Corp. (NYSE: DSL) 22% HIGHER; since naming a new CEO after the close on Monday, shares of Downey have risen about 45%.

National Financial Partners (NYSE: NFP) 21.6% LOWER; this morning, the company commented on its Q3 results through August. In the first 2 months of Q3, total revenue declined by about 7%, same store sales declined by about 10% compared with the prior year period, and operating expenses increased by about 11% over the period.

H&E Equipment Services (Nasdaq: HEES) 18.4% LOWER; in a Form 4 filing after the close yesterday, a director disclosed the sale of a large block of stock. While this is the only news item related to H&E today, we have not yet confirmed that the weakness is related to this SEC filing.

Citi Trends (Nasdaq: CTRN) 16.9% LOWER; analysts are currently holding meetings with management in Boston.

Lennar (NYSE: LEN) 16.6% HIGHER; Lennar is leading the homebuilder sector higher today. Yesterday morning, Lennar reported a Q3 loss of $0.56.

Sequenom, Inc. (NASDAQ: SQNM) 15% HIGHER; yesterday after the close announced additional, positive results for a study on its SEQureDx(TM) Technology, for the detection of fetal aneuploidy, which includes Down syndrome.

Jos. A. Bank Clothiers (Nasdaq: JOSB) 13.5% LOWER; after 5 straight days of trading higher, in which shares gained more than 30%, the stock is paring some gains and probably correcting slightly after so much upside recently.

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