Top Percentage Gainers and Losers as of 2:15pm 05/11/11 (QTWW, OXGN, DSCO, ROVI, IPSU, PEGA, TWER, OWW, M, SMI, IL, STEC, CPTS, KID, CYD, ALTH, WAVX, ALJ, SFUN, RENN)

Best

1) OXiGENE (NASDAQ: OXGN): Trading up 30.9% from yesterday's close to $5.21.The Bedford Report, which examines the outlook for companies in the Biotechnology Industry posted a positive outlook for OxiGene.

2) Quantum Fuel Systems Technologies Worldwide (NASDAQ: QTWW): Trading up 30.3% from yesterday's close to $4.60. Shares of Quantum Fuel have gained 104% since setting a new 52-week low ($2.25) on May 5th.

3) Discovery Laboratories (NASDAQ: DSCO): Trading up 18.5% from yesterday's close to $2.24. Discovery reported a Q1 loss of $0.21 per share versus estimates of a $0.33 loss. Sales came in at $381,000 versus estimates of $0.

4) Rovi (NASDAQ: ROVI): Trading up 18.1% from yesterday's close to $58.68. Rovi reported adjusted Q1 earnings of $0.61 per share versus estimates of $0.52 per share. Revenue came in at $161.5 million versus $129.4 million for the same period last year. The company was upgraded from Hold to Buy at Maxim.

5) Imperial Sugar (NASDAQ: IPSU): Trading up 9.6% from yesterday's close to $14.82. Imperial reported Q2 earnings of $0.34 per share versus a loss of $2.82 per share for the same period last year.

Other Notable Gainers

Pegasystems (NASDAQ: PEGA): Trading up 9.5% from yesterday's close to $40.30. Pegasystems reported adjusted Q1 earnings of $0.25 versus estimates of $0.17. Revenue came in at $102.4 million versus estimates of $97 million.

Towerstream (NASDAQ: TWER): Trading up 9.3% from yesterday's close to $4.60. Towerstream reported Q1 revenue of $6 million - a 40% increase versus the same period last year. The company announced plans to acquire assets of One Velocity operating in Las Vegas and Reno.

Orbitz Worldwide (NYSE: OWW): Trading up 8.6% from yesterday's close to $3.15. Orbitz announced that it has won a contract to transact hotel bookings for Eurostar International. Eurostar operates high-speed trains between London, Paris, and Brussels.

Macy's (NYSE: M): Trading up 7.2% from yesterday's close to $28.22. Macy's reported Q1 earnings of $0.30 per share versus estimates of $0.18 per share. The company raised its fiscal 2011 profit forecast to $2.40 - $2.45 versus estimates of $2.45.

Semiconductor Manufacturing International (NYSE: SMI): Trading up 6% from yesterday's close to $5.70. Shares hit a new 52-week high of $5.78 earlier in the session.

Worst

1) IntraLinks Holdings (NYSE: IL): Trading down 32.8% from yesterday's close to $20.15. IntraLinks forecast Q2 profit of $0.11 per share versus estimates of $0.13 per share. The company reported earnings of $0.01 per share versus a loss of $0.15 per share for the same period last year.

2) STEC (NASDAQ: STEC): Trading down 18.4% from yesterday's close to $16.38. STEC forecast Q2 earnings of $0.21 to $0.30 per share versus estimates of $0.31 per share. The company noted supply-chain issues emanating from the earthquake in Japan as reasons for the lowered guidance.

3) Conceptus (NASDAQ: CPTS); Trading down 17.8% from yesterday's close to $12.39. Conceptus reported a Q1 loss of $0.09 per share versus estimates of a $0.05 loss. Revenue came in at $21.4 million versus $27 million for the same period last year.

4) Kid Brands (NYSE: KID): Trading down 14.3% from yesterday's close to $6.34. Kids Brands reported Q1 earnings of $0.08 per share versus estimates of $0.04 per share. The company lowered FY11 guidance to “at least $0.56 per share” versus estimates of $0.70.

5) China Yuchai International (NYSE: CYD): Trading down 15.25% from yesterday's close to $26.64. China Yuchai reported Q1 earnings of $0.94 million versus $1.11 million for the same period last year. Sales came in at $645.5 million versus $773.2 million for the same period last year.

Other Notable Losers

Allos Therapeutics (NASDAQ: ALTH): Trading down 13% from yesterday's close to $2.48. Allos reported Q1 sales of $10.9 million versus estimates of $12.4 million.

Wave Systems (NASDAQ: WAVX): Trading down 11% from yesterday's close to $2.90. Wave Systems reported a Q1 loss of $0.03 versus a $0.01 loss for the same period last year.

Alon USA Energy (NYSE: ALJ): Trading down 11.5% from yesterday's close to $11.91. Alon is scrambling to find alternative means of material transportation to and from its refineries located in the Mississippi flood area.

SouFun Holdings Limited America (NYSE: SFUN): Trading down 11.3% from yesterday's close to $23.88. SouFun reported earnings of $0.09 per share, which was in line with analyst estimates. The company also matched full year guidance estimates. Shares had set a 52-week high of $27.57 in yesterday's session.

Renren (NYSE: RENN): Trading down 11.2% from yesterday's close to $13.10. Shares are now trading below their initial IPO price.