Mid-day Movers (ATPG, PEIX, LNG, DNDN, BCPC)

In the last half hour of the morning today, all three major US stock indexes pushed their way into positive territory, with the DJIA up nearly 4 points at about 13,987, the Nasdaq up more than 5 points at 2,969, and the S&P 500 up less than 1 point to 1,367. After opening sharply lower this morning, markets rebounded from an early dip following a better-than-expected report on pending home sales. The dollar is stronger today, with the dollar index up 0.19% at 78.548. The stronger dollar is pushing some commodities down, with grains losing the most.

Among the major movers at around noon today are ATP Oil & Gas Corp. (NASDAQ: ATPG), Pacific Ethanol Inc. (NASDAQ: PEIX), Cheniere Energy Inc. (AMEX: LNG), Dendreon Corp. (NASDAQ: DNDN), and Balchem Corp. (NASDAQ: BCPC).

ATP is up more than 21% at $8.63. Volume is already nearly 4x the daily average of about 1.7 million shares traded. The independent oil & gas company reported a fourth successful well at its Telemark Hub project.

Pacific Ethanol is up nearly 19% at $1.65. Volume is more than 3x the daily average of about 6 million shares traded. The ethanol maker is expected to report solid earnings and revenues after markets close today.

Cheniere is up about 12% at $15.72 after posting a new 52-week high of $16.25 earlier. Volume is already double the daily average of 5.6 million shares traded. The liquefied natural gas company announced an investment from Blackstone Group LP (NYSE: BX). More coverage here.

Dendreon is down nearly -18% at $12.20. Volume is already nearly triple the daily average of around 9 million shares traded. The drug maker reported lower-than-expected revenues this morning. More coverage here.

Balchem is down more than -11% at $31.67 after posting a new 52-week low of $31.24 earlier this morning. Volume is about 3x the daily average of around 130,000 shares traded. The chemical company reported weaker-than-expected earnings this morning.

Paul Ausick