Unusual 11 Mid-Day Movers 12/15: RVI, ABNJ, VGZ, LMDIA Higher; HUN, OCNF, FBN, AHT Lower

December 15, 2008 1:08 PM EST

Huntsman Corp. (NYSE: HUN) 49% LOWER; Huntsman has terminated its Merger Agreement with Hexion Specialty Chemicals, Inc.. In addition, Huntsman announced that it reached an agreement with Hexion, Apollo Management, L.P. and certain of its affiliates to settle Huntsman's claims against Hexion, Apollo and its affiliates arising in connection with Huntsman's Merger Agreement with Hexion. Payments to be made to Huntsman under the Settlement Agreement total $1 billion.

Retail Ventures (NYSE: RVI) 33% HIGHER; following a 40% upside move on Friday, the stock is continuing higher this week on extremely heavy volume. This stock is bucking the trend in the retail sector, which is seeing significant downside as a whole today.

OceanFreight Inc. (NASDAQ: OCNF) 28.2% LOWER; after the close on Friday, OceanFreight announced that it has decided to suspend future cash dividend payments in order to preserve capital and potentially capitalize on market opportunities as they may arise.

American Bancorp of New Jersey, Inc. (NASDAQ: ABNJ) 27.5% HIGHER; Investors Bancorp, Inc. (NASDAQ: ISBC) and American Bancorp of New Jersey jointly announced the signing of a definitive agreement under which Investors Bancorp will acquire American Bancorp of New Jersey for $140 million in stock and cash, or $12.50 per share.

Vista Gold (AMEX: VGZ) 26.3% HIGHER; gold stocks are surging this morning as the underlying commodity is currently trading up about $21 to $840.

Furniture Brands (NYSE: FBN) 26.3% LOWER; Raymond James downgrades Furniture Brands from Market Perform to Underperform.

Liberty Media Corporation (Nasdaq: LMDIA) 25% HIGHER; today announced that its board of directors has authorized a plan to distribute to the holders of Liberty Entertainment group tracking stock shares of a subsidiary that will hold a majority of the businesses, assets and liabilities currently attributed to the Liberty Entertainment group. If the transaction is completed as currently contemplated, Entertainment will be comprised of approximately 52% of The DIRECTV Group, Inc., 50% of GSN, LLC, 100% of FUN Technologies and 100% of Liberty Sports Holdings, LLC, which holds three regional sports networks.

Gaylord Entertainment (NYSE: GET) 24.5% HIGHER; seeing substantial upside today on the back of a very bullish article in this weekend's edition of Barron's.

Ashford Hospitality Trust (NYSE: AHT) 20.6% LOWER; UBS downgrades Ashford from Neutral to Sell.

Rofin-Sinar Technologies Inc. (Nasdaq: RSTI) 15.7% LOWER; lowers its Q1 sales guidance from $120-$125 million to $100-$105 million, versus the consensus of $124.99 million.

Silver Wheaton (NYSE: SLW) 12.4% HIGHER; see Vista Gold.

To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• UBS
• Raymond James
• Apollo Management
• Barron's
• Dividend
• Unusual 11 Mid-Day Movers

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?