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Monday, June 12, 2006

06/12 Unusual 11 Mid-Day Movers

BriteSmile Inc. (NASDAQ: BSML) 42% HIGHER; Company rejects the unsolicited proposal by Futuredontics, Inc., parent company of 1-800-DENTIST, to acquire the outstanding shares of BriteSmile for $2.00 per share in cash and $2.00 per share in Futuredontics common stock.

Zale Corp. (NYSE: ZLC) 12.5% HIGHER; Signet Group plc (NYSE: SIG) confirmed that it has held preliminary discussions with Zale Corporation (NYSE: ZLC) regarding a possible merger.

China Natural Resources (Nasdaq: CHNR) 9.7% HIGHER; Continued momentum - Stock jumped 35.8% Friday, after announcing that its new listing application for inclusion on The Nasdaq Capital Market has been approved.

Comverse Technology, Inc. (NASDAQ: CMVT) 9.3% LOWER; The company indicating that its Quarterly Report on Form 10-Q for the quarter ended April 30, 2006 will not be filed with the SEC by the SEC deadline of June 9, 2006

Pozen, Inc. (NASDAQ: POZN) 9% HIGHER: The stock bounces after dropping 60.5% Friday on an FDA approvable letter. In addition, HSBC upgraded the stock to Overweight.

Tellabs (Nasdaq: TLAB) 8.8% LOWER; Deutsche Bank downgrades TLAB from Buy to Hold

NRG Energy, Inc. (NYSE: NRG) 8.1% LOWER; Mirant Corp. (NYSE: MIR) withdrew its proposal to acquire NRG Energy.

First Marblehead Corp. (NYSE: FMD) 6.2% HIGHER; Continued momentum on Friday's upgrade from J.P. Morgan. On Friday, the CEO said, "we believe that our fiscal 2006 net income is likely to exceed the guidance we previously provided of 25-30% net income growth over fiscal 2005 levels."

Corning Inc. (NYSE: GLW) 5.7% LOWER; Stock down after LG Philips LCD Co. lowered it second quarter outlook on slower LCD TV shipment growth. GLW manufactures glass substrates for liquid crystal displays that are used in notebook computers, flat panel desktop monitors, and LCD televisions.

Pacific Energy Partners, L.P. (NYSE: PPX) 5.1% HIGHER; Plains All American Pipeline, L.P. (NYSE: PAA) executed definitive agreements to acquire Pacific Energy Partners, L.P.. The total value of the transaction is approximately $2.4 billion, including the assumption of debt and estimated transaction costs, and is expected to close near the end of 2006.

Teekay Shipping (NYSE: TK) 4.7% HIGHER: Company to Spin-off Teekay Offshore Partners L.P with an IPO; Approves $150 million buyback