Unusual 11 Mid-Day Movers 11/02: HGSI, EAC, IUSA, VRTX Higher; CIT, YRCW, GTXI, CPF Lower
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- Unusual 11 Mid-Day Movers 11/02: HGSI, EAC, IUSA, VRTX Higher; CIT, YRCW, GTXI, CPF Lower
- Hapoalim Securities Upgrades Amylin (AMLN) to Hold; Two Important Milestones Achieved
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- Unusual 11 Mid-Day Movers 11/02: HGSI, EAC, IUSA, VRTX Higher; CIT, YRCW, GTXI, CPF Lower
- NYSE To Suspend Trading of CIT Group (CIT) Tomorrow
- Morning Movers 11/02: CIT, HGSI, EAC, VRTX, CTB, BC, F Higher; YRCW, GTXI, FSNM, LDK Lower
- CIT (CIT) Files Prepackaged Bankruptcy Plan
CIT (NYSE: CIT) 63.3% LOWER; As expected, over the weekend, CIT announced that, with the overwhelming support of its debtholders, the Board of Directors voted to proceed with the prepackaged bankruptcy plan. Click here for the full report.
YRC Worldwide Inc. (Nasdaq: YRCW) 54.7% LOWER; today announced that it intends to launch an exchange offer this week based upon terms discussed with representatives of a committee of the holders of its contingent convertible notes and a committee of the holders of its USF 8 1/2% notes. The successful completion of this exchange would allow the company open access to the existing $106 million revolver reserve and to begin deferring payment of lender interest and fees of approximately $25 million per quarter under its recently amended credit agreement and asset-backed securitization facility. The company currently has access to $50 million of the revolver reserve for certain operational purposes and the remaining reserve with a two-thirds approval from its lenders. Click here for the full report.
GTx, Inc. (NASDAQ: GTXI) 46.8% LOWER; received a Complete Response Letter issued by the FDA regarding its New Drug Application for toremifene 80 mg to reduce fractures in men with prostate cancer receiving androgen deprivation therapy. Click here for the full report.
Human Genome Sciences, Inc. (Nasdaq: HGSI) 32.9% HIGHER; HGSI and GlaxoSmithKline PLC (NYSE: GSK) announced that BENLYSTA met the primary endpoint in BLISS-76, the second of two pivotal Phase 3 trials in seropositive patients with systemic lupus erythematosus. Click here for the full report.
Central Pacific Financial (NYSE: CPF) 25.4% LOWER; B. Riley downgrades the stock from Buy to Neutral. Price target slashed from $3.50 to $1.50.
Encore Acquisition Company (NYSE: EAC) 21.1% HIGHER; Denbury Resources Inc. (NYSE: DNR) announced plans to acquire EAC in a transaction valued at approximately $4.5 billion, including the assumption of debt and the value of the minority interest in Encore Energy Partners LP (NYSE: ENP). Click here for the full report.
LDK Solar (NYSE: LDK) 18.3% LOWER; Q-Cells ends supply agreement with LDK.
infoGROUP Inc. (NASDAQ: IUSA) 14.3% HIGHER; yesterday issued a press release responding a recent media report. The company said "we are continually evaluating the operations and prospects for the Company to determine what course is best for our shareholders. The Chairman continued, "we have made no decision to sell the Company. We have several options before us, which include continuing to operate the Company as an independent organization. Whichever course we follow will be determined by what optimizes value for all our shareholders."
Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) 11.4% HIGHER; announced that more than 80 percent of hepatitis C patients in each arm of the Phase 2 Study C208 achieved a sustained viral response with a telaprevir-based regimen according to results of an intent-to-treat analysis. More from the release.
Sonic Solutions (NASDAQ: SNIC) 11.1% HIGHER; Sonic Solutions and Blockbuster Inc. (NYSE: BBI), today announced that the recently launched BLOCKBUSTER On Demand movie service, has exceeded all initial launch expectations and is being rapidly embraced by consumers who are looking for the latest movie releases on their connected TVs and set-top players.
Amylin Pharmaceuticals, Inc. (Nasdaq: AMLN) 11.1% HIGHER; Amylin and Takeda Pharmaceutical Company Limited entered into a worldwide exclusive license, development and commercialization agreement to co-develop and commercialize pharmaceutical products for the treatment of obesity and related indications. Click here for the full report. The stock was also upgraded to Hold at Hapoalim.
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