Close

Morning Movers 12/16: (ISTA) (RRR) (MRT) (GRO) Higher; (INHX) (CVC) (MELA) Lower

December 16, 2011 10:44 AM EST
ISTA Pharmaceuticals Inc. (Nasdaq: ISTA) 57.3% HIGHER; Valeant Pharmaceuticals International, Inc. (NYSE: VRX) today announced that it had made a proposal to the Board of Directors of ISTA to acquire ISTA for $6.50 per share in cash.

RSC Holdings, Inc. (NYSE: RRR) 53.9% HIGHER; United Rentals, Inc. (NYSE: URI) and RSC have entered into a definitive merger agreement under which United Rentals will acquire RSC in a cash-and-stock transaction valued at $18.00 per share

Morton's Restaurant Group, Inc. (NYSE: MRT) 32.8% HIGHER; Tilman J. Fertitta announced today that his wholly-owned company, Fertitta's Morton's Restaurants, Inc. and is wholly owned subsidiary Fertitta Morton's Acquisition, Inc. have signed an Agreement to acquire 100% of Morton's for $6.90 a share.

Agria (NYSE: GRO) 31.1% HIGHER; reports sales increased to $158.8 million during the first six months of 2011. Net income was $4 million. The company reported sales of $3.3 million and a net loss of $16.3 million during the same period last year.

Inhibitex (Nasdaq: INHX) 24% LOWER; down following news Pharmasset (Nasdaq: VRUS) has amended its QUANTUM trial.

Gulf Resources (Nasdaq: GURE) 18.9% HIGHER; stock pushed above the 200-day SMA after gapping higher this morning. Volume is very heavy.

Cablevision Systems Corp. (NYSE: CVC) 16% LOWER; today announced that Tom Rutledge, chief operating officer, has informed the company that he will resign. BofA downgraded the stock from Buy to Underperform this morning. Miller Tabak also downgraded shares.

Pacific Ethanol (Nasdaq: PEIX) 15.2% HIGHER; following news of an $8 million private placement on December 9th, shares have tumbled nearly 40 percent. The stock is finally seeing some upside today as traders are buying the dip.

MELA Sciences, Inc. (Nasdaq: MELA) 11.8% LOWER; has priced an underwritten public offering of 5,000,000 shares of its common stock at a price of $3.25 per share.

Quiksilver, Inc. (NYSE: ZQK) 10.8% HIGHER; reported Q4 EPS of $0.06, $0.01 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $545.2 million versus the consensus estimate of $528.47 million.

Research In Motion Ltd (NASDAQ: RIMM) 10.8% LOWER; reported Q3 EPS of $1.27, $0.08 better than the analyst estimate of $1.19. Revenue for the quarter came in at $5.2 billion versus the consensus estimate of $5.27 billion. Sees Q4 sales $4.6-$4.9 billion and EPS of 80-95 cents. The Street is currently looking for quarterly sales of $5.12 billion and EPS of $1.18. The stock was downgraded at BMO, Atlantic Equities and Brigantine so far today.

GeoEye (Nasdaq: GEOY) 10.4% HIGHER; the company's third-largest shareholder Stephen Feinberg disclosed the purchase 432,500 shares of common stock late yesterday. The purchases were made on 12/13-12/14 at prices ranging from $20.96-$21.55. Feinberg now holds more than 2.4 million shares.

Idenix (Nasdaq: IDIX) 10.4% LOWER; trading lower amid Pharmasset news.

InterMune Inc. (Nasdaq: ITMN) 9% LOWER; stock continuing lower today following a 30 percent plunge yesterday amid a report that a German science board that contracts with the government raises doubt about Pirfenidone benefit.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Special Reports

Related Entities

Morning Movers