Unusual 11 Mid-Day Movers 11/03: LNY, BNI, DDRX, BDK Higher; CKEC, TPGI, CHTP, CMLS Lower

November 3, 2009 12:36 PM EST

Landry's Restaurants, Inc. (NYSE: LNY) 28.3% HIGHER; entered into a definitive merger agreement with a company wholly-owned by Tilman J. Fertitta, Chairman, Chief Executive Officer and President of Landry's. Pursuant to the agreement, the Fertitta company has agreed to acquire all of Landry's outstanding common stock not already owned by Mr. Fertitta for $14.75 per share in cash. The offer price represents a premium of approximately 37% over the closing share price of Landry's common stock on November 2, 2009.

Burlington Northern Santa Fe Corporation (NYSE: BNI) 28.2% HIGHER; The boards of directors of Berkshire Hathaway Inc. (NYSE: BRK.A) (NYSE: BRK.B) and Burlington Northern today announced a definitive agreement for Berkshire Hathaway to acquire for $100 per share in cash and stock the remaining 77.4% of outstanding BNI shares not currently owned to increase its holdings to 100%. Based on the number of outstanding BNI shares (including shares currently owned by Berkshire) on Nov. 2, 2009, the transaction is valued at approximately $44 billion, including $10 billion of outstanding BNSF debt, making it the largest acquisition in Berkshire Hathaway history. Click here for the full report.

Carmike Cinemas, Inc. (NASDAQ: CKEC) 27% LOWER; reports Q3 loss of $1.62, which may not compare to the analyst estimate of $0.14. Revenue for the quarter was $122.4 million, which compares to the estimate of $125.30 million.

Diedrich Coffee, Inc. (NASDAQ: DDRX) 26.3% HIGHER; Peet's Coffee & Tea, Inc. (NASDAQ: PEET) and Diedrich announced today that they have entered into a definitive agreement under which Peet's will acquire Diedrich in a cash-and-stock transaction valued at $26.00 per share or a total value of approximately $213 million.

Black & Decker (NYSE: BDK) 24.6% HIGHER; Stanley Works has agreed to acquired Black & Decker in a merger that will create an $8.4 billion global industrial leader in an all-stock transaction valued at $4.5 billion. The merger has caused a 20 percent jump in the stock price for Black & Decker in the after-hours market. Click here for the full report. Black & Decker shareholders will receive a fixed ratio of 1.275 shares of Stanley common stock for each share of Black & Decker common stock that they own as of October 30, 2009. This gives an implied premium of 22.1 percent to the Black & Decker share price.

Thomas Properties Group Inc. (NASDAQ: TPGI) 23.9% LOWER; reports Q3 non-GAAP EPS of $0.02, compared to $0.15 in the same quarter last year. Revenue for the quarter was $42.88 million, versus $25.72 million in Q308.

Chelsea Therapeutics (NASDAQ: CHTP) 23.5% LOWER; reports Q3 loss of $0.22, 6 cents better than the analyst estimate of ($0.28).

Altra Holdings Inc. (NASDAQ: AIMC) 22.8% HIGHER; reports Q3 EPS of $0.06, 6 cents better than the analyst estimate of $0.00. Revenue for the quarter was $104.8 million, which compares to the estimate of $103.35 million. Narrows FY EPS guidance to $0.20-$0.25, versus the consensus of $0.20. The stock was also upgraded at Baird.

Albany International Corp (NYSE: AIN) 22% HIGHER; reports Q3 loss of $0.20, versus the analyst estimate of $0.16. Revenue for the quarter was $217.93 million, which compares to the estimate of $208.93 million.

Cumulus Media Inc. (NYSE: CMLS) 19.6% LOWER; reports Q3 loss of $3.56, compared to the $0.14 gain reported in the same quarter last year. Revenue for the quarter was $65.1 million, which compares to the estimate of $64.80 million.

Ness Technologies, Inc. (NASDAQ: NSTC) 19.3% LOWER; reports Q3 EPS of $0.09, 1 cent better than the analyst estimate of $0.10. Revenue for the quarter was $164.1 million, which compares to the estimate of $145.92 million.

To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.

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