Morning Movers 09/27: NHWK, BLTI, AAI, BIOF, ACV, HNR, BBX, SGEN, GFRE Higher; BPZ Lower
NightHawk Radiology (Nasdaq: NHWK) 96.2% HIGHER; Virtual Radiologic (Nasdaq: VRAD) and NightHawk today announced that they have entered into a definitive agreement under which VRAD will acquire all of the outstanding common stock of NightHawk for $6.50 per share in cash. The offer price represents a premium of 100% over NightHawk's last closing stock price of $3.25 per share. The transaction is valued at approximately $170 million.
Biolase (Nasdaq: BLTI) 69.5% HIGHER; announces a definitive pact with Henry Schein (Nasdaq: HSIC); the pact changes to a non-exclusive distribution deal. Also announced that it has completed a corporate-wide reorganization. The company has achieved the goal of reducing its current sales breakeven level by 30%. Click here to see the full report.
AirTran (NYSE: AAI) 59.4% HIGHER; Southwest Airlines (NYSE: LUV) to acquire AirTran for about $7.69/share. Click here to see the full report.
Biofuel Energy Corp. (Nasdaq: BIOF) 45.8% HIGHER; announced that they have entered into a six-month bridge loan agreement with Greenlight Capital, Inc., its affiliates, and an affiliate of Third Point LLC. Click here to see the full report.
Alberto Culver Company (NYSE: ACV) 19.6% HIGHER; confirmed entered into a definitive agreement to be acquired by Unilever (NYSE: UL) for $37.50 per share in cash, or approximately $3.7 billion. Click here to see the full report.
Harvest Natural Resources, Inc. (NYSE: HNR) 17.4% HIGHER; hired BofA Merrill Lynch to assist the Company in exploring a broad range of strategic alternatives for enhancing shareholder value.
BankAtlantic Bancorp (NYSE: BBX) 16.3% HIGHER; appears to be breaking above the $0.90 resistance level. Volume is very heavv this morning.
Seattle Genetics, Inc. (Nasdaq: SGEN) 15.5% HIGHER; and Takeda Pharmaceutical Co.'s, Millennium, announce positive top-line results from a single-agent brentuximab vedotin (SGN-35) trial. The trial was conducted in 102 relapsed or refractory Hodgkin lymphoma patients.
Gulf Resources (Nasdaq: GFRE) 13.4% HIGHER; announces a $10 million buyback.
BPZ Resources, Inc. (NYSE: BPZ) 12% LOWER; announced today the completion of well CX11-23D with a sustained initial production rate of approximately 1,500 barrels of oil per day. The Company has also received a denial of its request for reconsideration of the Extended Well Testing permit for the Corvina 19D well. The stock was also downgraded at Wunderlich.
The Greenbrier Companies (NYSE: GBX) 10.6% HIGHER; today announced that it has received orders for 3,000 new railcars with an aggregate value of approximately $200 million.
LDK Solar Co., Ltd. (NYSE: LDK) 9.3% HIGHER; enters into strategic financing agreement with China Development Bank Corporation. CDB will provide up to RMB 60 billion (or approximately $8.9 billion) of credit facilities to LDK Solar over a five-year period.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Biolase (Nasdaq: BLTI) 69.5% HIGHER; announces a definitive pact with Henry Schein (Nasdaq: HSIC); the pact changes to a non-exclusive distribution deal. Also announced that it has completed a corporate-wide reorganization. The company has achieved the goal of reducing its current sales breakeven level by 30%. Click here to see the full report.
AirTran (NYSE: AAI) 59.4% HIGHER; Southwest Airlines (NYSE: LUV) to acquire AirTran for about $7.69/share. Click here to see the full report.
Biofuel Energy Corp. (Nasdaq: BIOF) 45.8% HIGHER; announced that they have entered into a six-month bridge loan agreement with Greenlight Capital, Inc., its affiliates, and an affiliate of Third Point LLC. Click here to see the full report.
Alberto Culver Company (NYSE: ACV) 19.6% HIGHER; confirmed entered into a definitive agreement to be acquired by Unilever (NYSE: UL) for $37.50 per share in cash, or approximately $3.7 billion. Click here to see the full report.
Harvest Natural Resources, Inc. (NYSE: HNR) 17.4% HIGHER; hired BofA Merrill Lynch to assist the Company in exploring a broad range of strategic alternatives for enhancing shareholder value.
BankAtlantic Bancorp (NYSE: BBX) 16.3% HIGHER; appears to be breaking above the $0.90 resistance level. Volume is very heavv this morning.
Seattle Genetics, Inc. (Nasdaq: SGEN) 15.5% HIGHER; and Takeda Pharmaceutical Co.'s, Millennium, announce positive top-line results from a single-agent brentuximab vedotin (SGN-35) trial. The trial was conducted in 102 relapsed or refractory Hodgkin lymphoma patients.
Gulf Resources (Nasdaq: GFRE) 13.4% HIGHER; announces a $10 million buyback.
BPZ Resources, Inc. (NYSE: BPZ) 12% LOWER; announced today the completion of well CX11-23D with a sustained initial production rate of approximately 1,500 barrels of oil per day. The Company has also received a denial of its request for reconsideration of the Extended Well Testing permit for the Corvina 19D well. The stock was also downgraded at Wunderlich.
The Greenbrier Companies (NYSE: GBX) 10.6% HIGHER; today announced that it has received orders for 3,000 new railcars with an aggregate value of approximately $200 million.
LDK Solar Co., Ltd. (NYSE: LDK) 9.3% HIGHER; enters into strategic financing agreement with China Development Bank Corporation. CDB will provide up to RMB 60 billion (or approximately $8.9 billion) of credit facilities to LDK Solar over a five-year period.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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Daniel Loeb, Greenlight Capital, David Einhorn, Merrill Lynch, Bank of America, Third Point LLC, Morning Movers, Unilever/Alberto Culver, Virtual Radiologic/NightHawk RadiologySign up for StreetInsider Free!
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