Largest $ Movers of Note - StreetInsider.com - 03/23/2007
UPWARD MOVERS:
Bel Fuse Inc. (NASDAQ: BELFA) +$9.30; Technitrol, Inc., (NYSE: TNL) has sent a letter to the Board of Directors of Bel Fuse Inc. (NASDAQ: BELFA) (Nasdaq: BELFB) offering to acquire the company for $40.30 per share, or $480 million, in cash. The offer price represents premiums of 38% and 21% to the closing prices on Thursday, March 22, 2007 of Bel Fuse's Class A and Class B shares, respectively.
Kronos Incorporated (Nasdaq: KRON) +$6.33; Kronos has signed a definitive agreement to be acquired by the private equity firm Hellman & Friedman Capital Partners VI, L.P. and its related funds in a transaction valued at approximately $1.8 billion. Under the terms of the agreement, Kronos shareholders will receive $55.00 in cash for each share of Kronos common stock, representing a 34.4% premium over Kronos' closing share price from 20 trading days ago.
Daimlerchrysler AG (NYSE: DCX) +$4.82; Stock moving up after reports Magna Int'l (NYSE: MGA) is teaming up with private equity firms to offer a bid to acquire Daimlerchrysler AG's (NYSE: DCX) Chrysler unit. The report says the bid could be $4.6-4.7 billion.
Paxar Corporation (NYSE: PXR) +$4.45; Avery Dennison Corporation (NYSE: AVY) and Paxar announced that their boards of directors have unanimously approved a definitive agreement for Avery Dennison to acquire all outstanding shares of Paxar for $30.50 per share in a cash transaction valued at approximately $1.34 billion.
MEMC Electronic Materials Inc. (NYSE: WFR) +$2.84; Stock continues higher with no specific news releases.
DOWNWARD MOVERS:
Genentech Inc. (Nasdaq: DNA) -$3.21; Says Avastin lung cancer study stopped for safety, says study was in small cell lung cancer, DNA notifying doctors of trachea issue.
CECO Environmental Corp. (Nasdaq: CECE) -$2.98; Reports Q4 EPS of $0.09 vs. consensus of $0.20. Revenues were $41.5 million vs. consensus of $37.25 million.
Jabil Circuit (NYSE: JBL) -$2.52; Reports Q2 revenues, delays EPS report. Stock receives multiple downgrades this morning.
Amgen (NASDAQ: AMGN) -$2.18; Company has discontinued Vectibix treatment in the PACCE trial evaluating the addition of Vectibix to standard chemotherapy and Avastin for the treatment of first-line metastatic colorectal cancer. The PACCE trial investigated a treatment regimen that used dual biologics combined with oxaliplatin- or irinotecan-based chemotherapy. This regimen is not currently used in clinical practice.
Priceline.com Inc. (Nasdaq: PCLN) -$2.12; Stock moving lower with no specific news releases. Today's move could be attributed to profit taking.
Create E-mail AlertRelated Categories
Special ReportsStocks Mentioned
+0.52
-0.55Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
