Top Percentage Gainers and Losers as of 2pm 06/09/11

Best

1) Coffee Holding (NASDAQ: JVA): Trading up 40.2% from yesterday's close to $11.96. Coffee Holding reported Q2 EPS of $0.22 versus $0.15 for the same period last year. Revenue came in at $37.3 million – 87% higher than the same period last year. Shares hit a 52-week high of $12.39 earlier in the session.

2) Double Eagle Petroleum (NASDAQ: DBLE); Trading up 15% from yesterday's close to $8.02. The company announced a $0.578125 per share cash dividend on its 9.25% Series A Cumulative Preferred Stock.

3) Gramercy Capital (NYSE: GKK): Trading up 14.3% from yesterday's close to $2.87. Shares have broken above their 50- and 200-day simple moving averages (one year daily chart) in today's trading action.

4) Multiband (NASDAQ: MBND): Trading up 13.8% from yesterday's close to $3.47. Multiband was initiated with an Outperform rating at Northland Securities. The stock had traded as high as $3.84 earlier in the session.

5) Majesco Entertainment (NASDAQ: COOL): Trading up 10.8% from yesterday's close to $4.07. Shares of Majesco are climbing toward their 52-week high of $4.15, which was set on April 5th.

Other Notable Gainers

Forestar Group (NYSE: FOR): Trading up 10.4% from yesterday's close to $16.28. Forestar cancelled their proposed $150 million dollar senior note offering. The company cited “deterioration in the capital markets” as the reason for the move.

Move (NASDAQ: MOVE): Trading up 10% from yesterday's close to $2.20.

Hollysys Automation Technologies (NASDAQ: HOLI): Trading up 9.5% from yesterday's close to $8.40. Hollysys was upgraded from Market Perform to Market Outperform by Rodman & Renshaw.

Worst

1) China-Biotics (NASDAQ: CHBT): Trading down 12.4% from yesterday's close to $4.89. The stock started out the day in positive territory, but came under heavily selling pressure starting at 9:58am. Shares are nearing their 52-week low of $4.65, which was recently set on June 7th.

2) Five Star Quality Care (NYSE: FVE): Trading down 11.5% from yesterday's close to $6.37. Five Star announced plans to offer at least $10 million shares to repay loans and to fund possible future acquisitions.

3) Spartech (NYSE: SEH): Trading down 10.4% from yesterday's close to $5.95. Spartech reported Q2 EPS of $0.10 versus estimates of $0.07. Revenue came in at $282.6 million versus estimates of $277.87 million. The company projected 2011 earnings per share of $0.16 to $0.20 per share versus estimates of $0.31 per share.

4) China Green Agriculture (NYSE: CGA): Trading down 10.3% from yesterday's close to $3.84. Shares started out the day in neutral territory, but came under heavy selling pressure beginning at 11:12am. Shares hit a 52-week low of $3.60 in today's session.

5) Vertex Pharmaceuticals (NASDAQ: VRTX): Trading down 10% from yesterday's close to $47.84. The company has already traded nearly four times its average daily volume.

Other Notable Losers

China Transinfo Technology (NASDAQ: CTFO): Trading down 8.8% from yesterday's close to $3.62. Shares hit a 52-week low of $3.52 in today's session.

Renren (NYSE: RENN): Trading down 8.56% from yesterday's close to $9.62. Shares hit an all time low of $9.49 earlier in the session.

A-Power Energy Generation systems (NASDAQ: APWR): Trading down 7.4% from yesterday's close to $2.18.