Largest $ Movers of Note - StreetInsider.com - 03/19/2007

March 19, 2007 1:58 PM EDT

UPWARD MOVERS:
Vimpel-Communications (NYSE: VIP) +$7.09; Reports Russia's technology industry expanded 20% last year in the eighth consecutive year of growth.

ACADIA Pharmaceuticals (Nasdaq: ACAD) +$6.42; Announced positive top-line results from its Phase II schizophrenia co-therapy trial with ACP-103, ACADIA's proprietary and selective 5-HT2A inverse agonist. The co-therapy arms with ACP-103 demonstrated statistically significant antipsychotic efficacy as measured by the reduction in the Positive and Negative Syndrome Scale (PANSS), the primary endpoint of the trial. In addition, the co-therapy arm combining ACP-103 with low-dose risperidone demonstrated a statistically significant improvement in antipsychotic efficacy as compared to low-dose risperidone plus placebo, and comparable efficacy to high-dose risperidone plus placebo.

TODCO (NYSE: THE) +$5.81; Hercules Offshore (Nasdaq: HERO) and TODCO entered into a definitive merger agreement pursuant to which Hercules Offshore will acquire 100% of the outstanding stock of TODCO (NYSE: THE) in a stock and cash transaction valued at approximately $2.3 billion.

Comm Bancorp Inc. (Nasdaq: CCBP) +$4.20; announced today that its Board of Directors has approved the initiation of a modified "Dutch Auction" tender offer to purchase up to 110,000 shares of its outstanding common stock at a price not greater than $52.00 nor less than $46.00 per share net to the seller in cash, without interest. The tender offer will commence on March 19, 2007, and expire, unless extended, at 5:00 p.m., New York City time, on April 13, 2007. (NOTE - Light Volume)

ABN AMRO Holding N.V. (NYSE: ABN) +$3.53; Stocks rises on takeover speculation from whispered suitor Barclay's.


DOWNWARD MOVERS:
AMREP Corporation (NYSE: AXR) -$6.04; AMREP reports Q3 EPS of $1.04 compared to $0.79 for the same period last year. Results for the third quarter and first nine months of 2007 were entirely from continuing operations, whereas the prior year's results included a net gain from discontinued operations of $3,556,000, or $0.53 per share, for the nine month period. Revenues were $42,189,000 and $156,513,000 in this year's third quarter and first nine months versus $35,589,000 and $100,450,000 in the same periods last year.

AtheroGenics (Nasdaq: AGIX) -$4.80; Announced that its ARISE Phase III clinical study of its lead drug candidate, AGI-1067, did not show a difference from placebo in its composite primary endpoint; however, it did achieve a number of other important predefined endpoints.

NovAtel Inc. (Nasdaq: NGPS) -$4.89; Stock down after Competitor, Topcon, acquires NGPS's partner, Sokkia.

PeopleSupport (Nasdaq: PSPT) -$2.73; Cowen & Co downgrades the stock from Outperform to Neutral.

Trina Solar Ltd. (NYSE: TSL) -$2.41; Recent IPO seeing profit-taking after running-up over 100% since IPO date of 12-19-06.

Related Categories

Special Reports

Stocks Mentioned

Add Your Comment

Name

Subject

Body

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