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Herley Industries

(HRLY)

jumped after it reached an agreement with the Navy to lift a suspension on new contract awards at certain company locations. Also, co-founder Lee Blatt has left Herely after 41 years. Shares were trading up $2.39, or 19.09%, to $14.91.

FMS Financial

(FMCO)

climbed on news the Burlington, N.J.-based bank agreed to be acquired by Beneficial Mutual Bancorp for about $183.2 million. Shares were higher by $4.90, or 18.3%, to $31.65.

Contango Oil & Gas

(MCF) - Get Contango Oil & Gas Company Report

gained after the Houston-based company announced a discovery at its Dutch prospect, located offshore Louisiana. Shares were up $2.01, or 17.3%, to $13.60.

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Saifun Semiconductors

(SFUN) - Get Fang Holdings Limited Sponsored ADR Class A Report

tumbled after the Israeli company said it lost one of its most important customers. Saifun said that

Qimonda

( QI), the memory division of German chipmaker

Infineon

( IFX), is ramping down its use of NROM technology licensed from Saifun. Shares were falling $7, or 24.1%, to $22.08.

Ixia

(XXIA)

stumbled after the Calabasas, Calif.-based company postponed the release of its third-quarter financial results pending completion of an internal review of its revenue recognition. Also, the company was downgraded by Nollenberger Capital to neutral from buy. Shares were losing 86 cents, or 8.8%, to $8.89.