StreetInsider.com Unusual 11 Mid-Day Movers 03/20/2007

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By Douglas A. McIntyre Published
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Hirsch International Corp. (NASDAQ: HRSH) 56% HIGHER; Reports 150% Increase in 2006 Net Income and Tripling of Operating Profits. Net sales increased $3.2 million to $15.2 million for the quarter ended December 31, 2006,

Accredited Home Lenders Holding (NASDAQ: LEND) 24.6% HIGHER; Received a commitment for a $200 million term loan from one or more entities managed by Farallon Capital Management, L.L.C.

Systemax Inc. (NYSE: SYX) 20.5% LOWER; Reports Q4 EPS of $0.22 compared to $0.09 for the same period last year. Net sales increased 11% to $648 million compared to $583 million in the fourth quarter of 2005. Announces Special $1.00 Per Share Dividend.

Exide Technologies (NASDAQ: XIDE) 20% HIGHER; Announces a new supply agreement with Toyota Motor Engineering & Manufacturing North America (NYSE: TM). Exide has begun shipping lead-acid starting batteries for the next generation of Toyota Tundra trucks assembled at Toyota Motor Manufacturing, Texas, Inc. (TMMTX) in San Antonio, the automotive manufacturer’s $1.28 billion assembly facility which began operations in November 2006.

Affiliated Computer Services (NYSE: ACS) 17.25% HIGHER; Founder and Chairman, Darwin Deason, announced that he, together with his investment partner Cerberus Capital Management, L.P., has submitted a proposal to acquire, for a cash purchase price of $59.25 per share, all of the outstanding shares of common stock of Affiliated Computer Services.

RF Industries Ltd. (Nasdaq: RFIL) 17.2% LOWER; Company is unable to file its Quarterly Report on Form 10-QSB for the fiscal quarter ended January 31, 2007 by the scheduled filing deadline as a result of its further review and assessment under SFAS 123R and the resulting impact to our income tax provision. SFAS 123R became effective for the Company on November 1, 2006, and this is the first fiscal quarter in which the Company has had to apply SFAS 123R to its stock option grants.

Eschelon Telecom (NASDAQ: ESCH) 13.8% HIGHER; Signed a definitive agreement to be acquired by Portland, Oregon-based Integra Telecom, Inc for $30 per share.

AtheroGenics (Nasdaq: AGIX) 8.4% LOWER; Continues to fall after yesterday’s 60.5% drop whenthen company announced that its ARISE Phase III clinical study of its lead drug candidate, AGI-1067, did not show a difference from placebo in its composite primary endpoint; however, it did achieve a number of other important predefined endpoints.

Technical Olympic USA Inc. (NYSE: TOA) 8.2% LOWER; Stock continues to fall for seventh straight session, company tied to residential construction.

Gottschalks Inc. (NYSE: GOT) 7.5% HIGHER; CL King upgrades GOT to Strong Buy.

Novastar Financial Inc. (NYSE: NFI) 7.9% HIGHER; Stock continues to rebound after crashing due to worries in sub-prime market.

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Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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