Morning Movers 11/24: Citi (C) Up on Treasury/Fed Rescue Package, Financials Follow (BAC, MS, GS, WFC, JPM)

November 24, 2008 9:47 AM EST

StreetInsider.com Morning Movers

LandAmerica Financial (NYSE: LFG) 83% LOWER; LandAmerica, Fidelity National deal terminated

Citigroup, Inc. (NYSE: C) 57% HIGHER; Treasury, Fed Rescues Citi (C) With $40B Package

Omrix Biopharmaceuticals, Inc. (NASDAQ: OMRI) 16% HIGHER; Johnson & Johnson (NYSE: JNJ) To Acquire Omrix Biopharmaceuticals (OMRI) For $25/Share

TASER International Inc. (NASDAQ: TASR) 13% HIGHER; Los Angeles Police Department Upgrades TASER Program

CBRL Group (Nasdaq: CBRL) 12% HIGHER; reports Q1 earnings of $0.57 per share, above the consensus of $0.52. Revenues came in at $573.9 million, versus the consensus of $586.7 million. CBRL Group sees FY09 EPS of $2.65-$3.00 versus the consensus of $2.64.

Morgan Stanley (NYSE: MS) 12% HIGHER; Financials up on Citi rescue

Bank of America (NYSE: BAC) 11% HIGHER; Financials up on Citi rescue

US Bancorp (NYSE: USB) 7% HIGHER; acquired the banking operations of two separate California financial institutions from the Federal Deposit Insurance Corporation. The two acquired institutions are Downey Savings & Loan Association, F.A., the primary subsidiary of Downey Financial Corp. (NYSE: DSL), headquartered in Newport Beach, Calif. and PFF Bank & Trust, a subsidiary of PFF Bancorp Inc. (OTCBB: PFFB), headquartered in Rancho Cucamonga, Calif.

Goldman Sachs (NYSE: GS) 7% HIGHER; Financials up on Citi rescue

Sanofi-Aventis (NYSE: SNY) 6% HIGHER; Morgan Stanley upgrades to Overweight

Xerox Corporation (NYSE: XRX) 6% HIGHER; sees FY09 EPS of $1.00-$1.25, versus the consensus of $1.18. Sees operating profit between $1.4 and $1.7 billioin and cash from operations of $1.7-$1.9 billion. Free cash flow is expected to be $1.60-$1.85.

Alpharma Inc. (NYSE: ALO) 6% HIGHER; King Pharmaceuticals, Inc. (NYSE: KG) and Alpharma Inc. (NYSE: ALO) today announced that the two companies have signed a definitive merger agreement under which King will acquire all of the outstanding shares of Class A Common Stock of Alpharma for $37.00 per share in cash for a total equity value of approximately $1.6 billion. The Boards of Directors of both companies have unanimously approved the transaction.

JPMorgan Chase & Co (NYSE: JPM) 6% HIGHER; Financials up on Citi rescue

Lumber Liquidators, Inc. (NYSE: LL) 5% LOWER; Merrill Lynch downgrades

Wells Fargo & Company (NYSE: WFC) 5% HIGHER; Financials up on Citi rescue

JP Morgan (NYSE: JPM) 3% HIGHER; Financials up on Citi rescue

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