Largest $ Movers of Note - StreetInsider.com - 07/23/07
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UPWARD MOVERS:
Intuitive Surgical Inc. (Nasdaq: ISRG) +$8.60; Stock seeing continued momentum with no specific news releases.
NAVTEQ Corp. (NYSE: NVT) +$8.25; UBS upgrades NVT from Neutral to Buy.
Arrow International (NASDAQ: ARRO) +$6.40; Teleflex Incorporated, (NYSE: TFX) and Arrow International entered into a definitive agreement pursuant to which Teleflex will acquire Arrow in an all cash transaction valued at approximately $2 billion. The merger agreement, which was unanimously approved by both companies\' Boards of Directors, provides for a cash payment of $45.50 per share for each outstanding share of Arrow stock.
Transocean Inc. (NYSE: RIG) +$6.35; The company and GlobalSantaFe (NYSE: GSF) announced that their boards of directors have unanimously approved a definitive agreement for a merger of equals.
Merck & Co. Inc. (NYSE: MRK) +$3.92; Reports Q2 EPS of $0.82, 10 cents better than estimates. Revenues came in at $6.11 billion versus the consensus of $5.77 billion. Sees 2007 EPS of $3.00-$3.10 versus the consensus of $2.93.
DOWNWARD MOVERS:
Lifepoint Hospitals Inc. (Nasdaq: LPNT) -$5.42; Reports Q2 Earnings, Guides Below for Q3 and FY
Baidu.com, Inc. (Nasdaq: BIDU) -$4.60; Stock continues to slide after recently hitting a 52-wk high.
EOG Resources, Inc. (NYSE: EOG) -$3.00; Citigroup downgrades EOG Resources, Inc. (NYSE: EOG) from Hold to Sell. Price target lowered to $72.
Expedia, Inc. (Nasdaq: EXPE) -$2.51; Company is amending its tender offer to purchase shares of the Company\'s common stock to reduce the maximum number of shares that the Company is offering to purchase to 25,000,000 shares, due to the lack of available financing, on terms satisfactory to the Company, as a result of current conditions in the credit markets. The terms and conditions of the original tender offer are set forth in the Offer to Purchase, dated June 29, 2007, and related letter of transmittal.
Netflix, Inc. (Nasdaq: NFLX) -$1.88; Company is dropping the price of two of its most popular subscription plans by $1. Jefferies & Co and Cantor Fitzgerald downgraded the stock this morning.
Intuitive Surgical Inc. (Nasdaq: ISRG) +$8.60; Stock seeing continued momentum with no specific news releases.
NAVTEQ Corp. (NYSE: NVT) +$8.25; UBS upgrades NVT from Neutral to Buy.
Arrow International (NASDAQ: ARRO) +$6.40; Teleflex Incorporated, (NYSE: TFX) and Arrow International entered into a definitive agreement pursuant to which Teleflex will acquire Arrow in an all cash transaction valued at approximately $2 billion. The merger agreement, which was unanimously approved by both companies\' Boards of Directors, provides for a cash payment of $45.50 per share for each outstanding share of Arrow stock.
Transocean Inc. (NYSE: RIG) +$6.35; The company and GlobalSantaFe (NYSE: GSF) announced that their boards of directors have unanimously approved a definitive agreement for a merger of equals.
Merck & Co. Inc. (NYSE: MRK) +$3.92; Reports Q2 EPS of $0.82, 10 cents better than estimates. Revenues came in at $6.11 billion versus the consensus of $5.77 billion. Sees 2007 EPS of $3.00-$3.10 versus the consensus of $2.93.
DOWNWARD MOVERS:
Lifepoint Hospitals Inc. (Nasdaq: LPNT) -$5.42; Reports Q2 Earnings, Guides Below for Q3 and FY
Baidu.com, Inc. (Nasdaq: BIDU) -$4.60; Stock continues to slide after recently hitting a 52-wk high.
EOG Resources, Inc. (NYSE: EOG) -$3.00; Citigroup downgrades EOG Resources, Inc. (NYSE: EOG) from Hold to Sell. Price target lowered to $72.
Expedia, Inc. (Nasdaq: EXPE) -$2.51; Company is amending its tender offer to purchase shares of the Company\'s common stock to reduce the maximum number of shares that the Company is offering to purchase to 25,000,000 shares, due to the lack of available financing, on terms satisfactory to the Company, as a result of current conditions in the credit markets. The terms and conditions of the original tender offer are set forth in the Offer to Purchase, dated June 29, 2007, and related letter of transmittal.
Netflix, Inc. (Nasdaq: NFLX) -$1.88; Company is dropping the price of two of its most popular subscription plans by $1. Jefferies & Co and Cantor Fitzgerald downgraded the stock this morning.
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