Largest $ Movers of Note - StreetInsider.com - 05/07/2007

May 7, 2007 2:01 PM EDT

UPWARD MOVERS:
Alcan Inc. (NYSE: AL) +$19.65; Alcoa Inc. (NYSE: AA) offered to acquire all of the outstanding common shares of Alcan for US$58.60 in cash and 0.4108 of a share of Alcoa common stock for each outstanding common share of Alcan. Alcoa expects to begin its offer on Tuesday, May 8, 2007. Based on Alcoa's closing stock price on May 4, 2007, the offer has a value of US$73.25 per Alcan share or approximately US$33 billion in enterprise value.

Ohio Casualty Corp (NASDAQ: OCAS) +$9.82; Liberty Mutual will acquire all outstanding shares of common stock of Ohio Casualty for $44.00 per share in cash. The transaction is valued at approximately $2.7 billion.

K-Tron International (Nasdaq: KTII) +$6.40; Reports Q1 EPS of $1.72, up 104.8% from $0.84 in the same period last year. Revenues were $46.88 million compared to $32.11 million for the same period last year.

Armor Holdings (NYSE: AH) +$5.42; Entered into a definitive merger agreement to be acquired by BAE Systems for $88 per share.

Darden Restaurants, Inc. (NYSE: DRI) +$2.96; Announced the closure of 56 Smokey Bones Barbeque & Grill restaurants. Darden will offer the remaining 73 restaurants for sale - all located primarily in the eastern half of the United States.


DOWNWARD MOVERS:
U.S. Global Investors, Inc. (NASDAQ: GROW) -$4.00; Reports Q1 EPS of $0.16 compared to $0.17 for the same period last year. Revenues were $12.44 million compared to $11.56 million for the same period last year.

IDM Pharma, Inc. (NASDAQ: IDMI) -$3.11; U.S. Food and Drug Administration's Oncologic Drugs Advisory Committee to review company's Junovan drug on May 9th. Briefing document shows drug not effective in childhood bone cancer.

Tenaris S.A. (NYSE: TS) -$2.33; Reports Q1 EPS of $0.81, 6 cents worse than estimates. Revenues were $2.43 billion vs. $2.46 billion consensus. Executive Says Canada Results For Q2 Will Be Very Weak - DJ

OfficeMax Inc. (NYSE: OMX) -$2.16; Stock continues lower after last Thursday's earnings report.

Hansen Natural Corp (NASDAQ: HANS) -$1.35; Reported that Q1 net sales increased 38.1% to $165.4 million, versus the consensus of $167.9 million. The company did not report EPS due to an an ongoing option investigation.

Related Categories

General News
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?