Morning Movers 12/01: Mentor (MNT) Up On J&J Buyout, Oil Services Down Down Merrill Downgrade (SLB, BJS, BHI, more...)

December 1, 2008 9:51 AM EST

StreetInsider.com Morning Movers:


Mentor Corp. (NYSE: MNT) 90% HIGHER; Johnson & Johnson (NYSE: JNJ) and Mentor Corporation (NYSE: MNT) announced a definitive agreement whereby Mentor will be acquired for approximately $1.07 billion in a cash tender offer. Under the terms of the agreement, Johnson & Johnson will commence a tender offer to purchase all outstanding shares of Mentor at $31.00 per share.

XL Capital Ltd. (NYSE: XL) 16% LOWER; Merrill downgrades to Neutral

Schlumberger Limited (NYSE: SLB) 12% LOWER; Merrill downgrades to Neutral

Baidu.com (Nasdaq: BIDU) 11% LOWER; According to a report from the Financial Times, Baidu.com may be forced to face a wave of legal battles as more and more groups are coming out saying the search-giant's business practices are not abiding by China's new anti-monopoly law.

Baker Hughes Inc. (NYSE: BHI) 10% LOWER; Merrill downgrades to Neutral

Complete Production Services, Inc. (NYSE: CPX) 10% LOWER; Merrill downgrades to Neutral

Nabors Industries Ltd. (NYSE: NBR) 10% LOWER; Merrill downgrades to Underperform

Hercules Offshore, Inc. (Nasdaq: HERO) 10% LOWER; Merrill downgrades to Underperform

BJ Services Company (NYSE: BJS) 10% LOWER; Merrill downgrades to Underperform

Noble Corp. (NYSE: NE) 10% LOWER; Merrill downgrades to Neutral

Helmerich & Payne Inc. (NYSE: HP) 10% LOWER; Merrill downgrades to Neutral

Ford Motor Co. (NYSE: F) 10% HIGHER; Ford Motor (F) To Re-Evaluate Strategic Options for Volvo. General Motors (GM) And Ford (F) Approach Sweden Gov't Regarding Volvo and Saab

Goldman Sachs Group Inc. (NYSE: GS) 8% LOWER; New York State Approves Goldman Sachs (GS) Application for Bank Charter

GE (NYSE: GE) 6% LOWER; Citigroup Said General Electric (GE) Could Lower Guidance At Tomorrow's Event

STMicroelectronics NV (NYSE: STM) 4% LOWER; Soc Gen downgrades to Sell

General Motors (NYSE: GM) 2.5% HIGHER; General Motors (GM) And Ford (F) Approach Sweden Gov't Regarding Volvo and Saab

Yahoo!'s (Nasdaq: YHOO) 1.4% HIGHER; AllThingsDigital is calling a report from The Times of London, that Microsoft (Nasdaq: MSFT) is in new talks to buy Yahoo!'s (Nasdaq: YHOO) online search business for $20 billion, "total fiction".


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BHI 45.35

+0.80 +1.80%
Volume: 1,113,846
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BIDU 441.53

-1.70 -0.38%
Volume: 439,730
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BJS 20.70

+0.37 +1.82%
Volume: 1,702,156
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CPX 13.00

+0.44 +3.50%
Volume: 164,266
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F 11.16

+0.19 +1.73%
Volume: 20,645,075
Track F

GE 15.69

+0.09 +0.58%
Volume: 17,419,022
Track GE

GM 1.43

+0.00 +0.00%
Volume: 341,588,570
Track GM

GS 152.42

+1.32 +0.87%
Volume: 2,955,977
Track GS

HERO 3.62

+0.02 +0.56%
Volume: 325,264
Track HERO

HP 40.69

+0.68 +1.70%
Volume: 198,615
Track HP

JNJ 62.88

+0.51 +0.82%
Volume: 2,161,808
Track JNJ

MNT 31.01

+0.00 +0.00%
Volume: 491,365
Track MNT

MSFT 28.06

+0.34 +1.23%
Volume: 9,025,432
Track MSFT

NBR 22.18

+0.65 +3.02%
Volume: 1,742,801
Track NBR

NE 40.37

+1.43 +3.67%
Volume: 1,423,850
Track NE

SLB 63.99

+1.87 +3.01%
Volume: 1,483,565
Track SLB

STM 8.04

+0.04 +0.50%
Volume: 276,255
Track STM

XL 16.77

+0.26 +1.57%
Volume: 458,851
Track XL

YHOO 15.12

+0.13 +0.87%
Volume: 2,339,786
Track YHOO


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