Morning Movers (FRO, OWW, NATH, PLX, DRI)

There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Frontline Ltd. (NYSE: FRO), Orbitz Worldwide, Inc. (NYSE: OWW), Nathan’s Famous Inc. (NASDAQ: NATH), Protalix Bio Therapeutics, Inc. (AMEX: PLX), and Darden Restaurants, Inc. (NYSE: DRI).

Frontline shares are up nearly 29%, at $4.56, in a 52-week range of $2.52-$27.76. Volume is nearly 3 million shares in the first 45 minutes of trading this morning, already more than the daily average. The oil tanker company has been suffering from low day rates and lack of cargoes, but today’s injection of $500 million from a Norwegian bank controlled by the company’s major shareholder, John Fredriksen has given Frontline new life.

Orbitz Worldwide is up more than 11%, at $3.90. Volume is nearly at the normal daily average. The internet travel company’s stock was upgraded from ‘hold’ to ‘buy’ at Benchmark Co. and the price target was raised from $3.00 to $5.00.

Nathan’s Famous is up nearly 10%, at $20.93 after posting a new 52-week high this morning of $21.25. Volume is already about three times the daily average. The hot dog maker has announced an $11 million share buyback program. The buyback is in the form of a Dutch auction, where shareholders can tender shares in range of $20-$22/share.

Protalix shares are down more than -17.5%, at $5.10, in a 52-week range $4.06-$10.60. Volume is nearly five times the daily average. The drug maker has received a letter from the US FDA delaying for three months a decision on the company’s new treatment for Gaucher disease.

Darden Restaurants is down nearly -10%, at $43.02 in a 52-week range of $40.69-$53.81. Volume is already double the normal daily average. The Olive Garden restaurant owner lowered EPS growth guidance from 12%-15% to 4%-7%. Sales growth is now also forecast lower.