Morning Movers 12/01: Mentor (MNT) Up On J&J Buyout, Oil Services Down Down Merrill Downgrade (SLB, BJS, BHI, more...)

December 1, 2008 9:51 AM EST

StreetInsider.com Morning Movers:

Mentor Corp. (NYSE: MNT) 90% HIGHER; Johnson & Johnson (NYSE: JNJ) and Mentor Corporation (NYSE: MNT) announced a definitive agreement whereby Mentor will be acquired for approximately $1.07 billion in a cash tender offer. Under the terms of the agreement, Johnson & Johnson will commence a tender offer to purchase all outstanding shares of Mentor at $31.00 per share.

XL Capital Ltd. (NYSE: XL) 16% LOWER; Merrill downgrades to Neutral

Schlumberger Limited (NYSE: SLB) 12% LOWER; Merrill downgrades to Neutral

Baidu.com (Nasdaq: BIDU) 11% LOWER; According to a report from the Financial Times, Baidu.com may be forced to face a wave of legal battles as more and more groups are coming out saying the search-giant's business practices are not abiding by China's new anti-monopoly law.

Baker Hughes Inc. (NYSE: BHI) 10% LOWER; Merrill downgrades to Neutral

Complete Production Services, Inc. (NYSE: CPX) 10% LOWER; Merrill downgrades to Neutral

Nabors Industries Ltd. (NYSE: NBR) 10% LOWER; Merrill downgrades to Underperform

Hercules Offshore, Inc. (Nasdaq: HERO) 10% LOWER; Merrill downgrades to Underperform

BJ Services Company (NYSE: BJS) 10% LOWER; Merrill downgrades to Underperform

Noble Corp. (NYSE: NE) 10% LOWER; Merrill downgrades to Neutral

Helmerich & Payne Inc. (NYSE: HP) 10% LOWER; Merrill downgrades to Neutral

Ford Motor Co. (NYSE: F) 10% HIGHER; Ford Motor (F) To Re-Evaluate Strategic Options for Volvo. General Motors (GM) And Ford (F) Approach Sweden Gov't Regarding Volvo and Saab

Goldman Sachs Group Inc. (NYSE: GS) 8% LOWER; New York State Approves Goldman Sachs (GS) Application for Bank Charter

GE (NYSE: GE) 6% LOWER; Citigroup Said General Electric (GE) Could Lower Guidance At Tomorrow's Event

STMicroelectronics NV (NYSE: STM) 4% LOWER; Soc Gen downgrades to Sell

General Motors (NYSE: GM) 2.5% HIGHER; General Motors (GM) And Ford (F) Approach Sweden Gov't Regarding Volvo and Saab

Yahoo!'s (Nasdaq: YHOO) 1.4% HIGHER; AllThingsDigital is calling a report from The Times of London, that Microsoft (Nasdaq: MSFT) is in new talks to buy Yahoo!'s (Nasdaq: YHOO) online search business for $20 billion, "total fiction".

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