Wall Street Pit’s Midday Market Gainers: ZION, MICC, STLD, PCAR, ICUI

Shares of Zions Bancorp. (ZION) advanced 8.5 percent, the most intraday since May 10, to $24.90. The Salt Lake City-based lender reported this morning Q1 profit of $0.08 a share, versus the $0.18 loss analysts had expected. The bank was lifted to “Outperform” from “Market Perform” at FBR Capital Markets Corp. Shares of ZION are currently up $1.60, or 6.97%, to $24.56. Volume has exploded with nearly 5.5 million shares already trading hands compared to a daily average volume of 3.4 million shares. Day’s range: $24.18 – $24.92.

Millicom Int’l Cellular SA’s (MICC) U.S.-listed shares jumped 5.4 percent to $102.00 at the start of trading Tuesday after the Luxembourg-based emerging-markets telecom firm said the combination of lower costs and higher revenue pushed its Q1 profits higher. Results: MICC’s net income rose to $230.1 million ($2.17/share) vs. $155.5 million ($1.43/share) y/y-basis. A rise of 48% from the year earlier quarter. Revenue rose 19.5% to $1.08 billion y/y. The co. raised its forecast for the year. MICC shares are currently up on high trading volume ; 769,000 shares  have already traded hands compared to a daily average volume of 474,000 shares. Day’s range: $98.23 – $102.00.

Steel Dynamics Inc. (STLD) shares spiked more than 5 percent to $18.60 in early trading Tuesday, the most intraday since Dec. 16, after the Fort Wayne, Indiana-based producer of the metal beat Wall Street targets. The co.’s bottom line came in at about $106 million, or 46 cents a share, exceeding the average analyst estimate by 41 cents. Steel Dynamics turned in revenue of $2 billion against Wall Street’s forecast of $1.8 billion. Today’s trading range for shares of STLD has been between $17.92 and $18.62 per share. Volume: 3.1 million vs daily average of 4 million.

Shares of Paccar Inc. (PCAR) advanced as much as 5.4 percent to $53.01 this morning, the most since Sept. 1. The maker of Kenworth, Peterbilt and DAF trucks said its Q1 profit nearly tripled. Results: net income spiked to $193.3 million, or 53 cents a share, compared with $68.3 million, or 19 cents a share, y/y-basis. Revenue climbed 47 percent, to $3.28 billion vs $2.23 billion. PCAR shares are up on high trading volume. Volume of 2.3 million shares is already approaching the daily average volume of 2.7 million shares. Day’s range: $51.46 – $53.04.

ICU Medical Inc. (ICUI) shares added almost 5% after the San Clemente, Calif.-based co. said it earned $8.1 million, or 57 cents p/sh, compared with net income of $4.3 million, or 30 cents p/sh, y/y. ICUI boosted its guidance for the year. It now expects earnings in 2011 to be as much as $2.50 a share, beating the $2.35 estimate by analysts on average. Today’s trading range for shares of ICU Medical, Inc has been between $44.20 and $45.50 per share. Volume of 105,000 shares is already more than double the daily average volume of 72,353 shares.

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