Mid-Day Market Movers (CASC, ICCC, ABK, CERP)

Cascade Corporation (NYSE: CASC) climbed 22.73% to $33.80 by 10:01 am. CASC reported its Q1 profit at $5.7 million after losing money in the same quarter last year.

ImmuCell Corporation (NASDAQ: ICCC) soared 7.02% to $3.66. ICCC develops, manufactures and sells products aimed at improving animal health and productivity in the dairy and beef industries across the globe.

Ambac Financial Group Inc (NYSE: ABK) jumped 13.59% to $1.17. ABK has commuted the remaining $16.4 billion in debt securities by agreeing to pay back $2.6 billion in cash and $2 billion in newly issued surplus notes to counterparties.

Cereplast Inc (NASDAQ: CERP) shares advanced 20.33% to $3.63. CERP expects to produce and ship around 16 million pounds of their proprietary bio-plastic resins to customers in 2010.

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