Morning Movers 12/31: Puget Energy (PSD) Up After Buyout Gets Okay; VeriFone (PAY) Lower On 10-K Delay

December 31, 2008 10:00 AM EST

StreetInsider.com Morning Movers:

Akorn, Inc. (NASDAQ: AKRX) 44% HIGHER; Akorn-Strides, LLC announced that the FDA has granted approvals for two Abbreviated New Drug Applications for Sterile Vancomycin HCl USP, 500 mg/vial, 1 g/vial and Sterile Vancomycin HCl USP, 5 g/vial Pharmacy Bulk Package. Akorn-Strides, LLC is a Joint Venture that was formed in 2004 by Akorn, Inc. (NASDAQ: AKRX) and Strides Arcolab Limited.

Labopharm Inc. (Nasdaq: DDSS) 43% HIGHER; announced that RYZOLT, its once-daily formulation of the analgesic tramadol, has been approved by the FDA. RYZOLT is indicated for the management of moderate to moderately severe chronic pain in adults who require around-the-clock treatment of their pain for an extended period of time.

Puget Energy Inc. (NYSE: PSD) 19% HIGHER; investment group Puget Holdings LLC received approval from Washington State regulators to buy the company for about $7.4 billion.

Gilat Satellite Networks Ltd. (Nasdaq: GILT) 18% HIGHER; announced that the lengthy negotiations with the Ministry of Communications in Colombia have led to signature of new agreements for the provision of services under the Compartel I, Compartel II and Telecentros projects which were awarded to Gilat’s Colombian subsidiaries in 1999 and 2002.

Riverview Bancorp (Nasdaq: RVSB) 9% LOWER; today announced that no dividend would be paid on shares of Riverview common stock for the fiscal third quarter.

VeriFone Holdings (NYSE: PAY) 8% LOWER; announced it has filed a Notification of Late Filing in accordance with Rule 12b-25 of the Securities Exchange Act of 1934, as amended, with the Securities and Exchange Commission (SEC) for its Annual Report on Form 10-K for the fiscal year ended October 31, 2008, which provides for a 15 calendar day extension for the filing of its Annual Report on Form 10-K until January 14, 2009.

Photronics Inc. (Nasdaq: PLAB) 7% HIGHER; Merrill upgrade

Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) 7% LOWER; cuts its Q4 sales guidance from $18-$22 million to $15-$16 million, versus the consensus of $20.15 million. Also, Q4 earnings per ADS are expected to be about breakeven.

Brookdale Senior Living Inc. (NYSE: BKD) 5% LOWER; announced today that its Board of Directors has voted to suspend the Company's quarterly cash dividend indefinitely.

GLG Partners, Inc. (NYSE: GLG) 2% LOWER; announced that its Board has determined not to continue paying a regular quarterly dividend on its common stock.

BlackRock (NYSE: BLK) 1% HIGHER; will act as a manager under the Federal Reserves program to purchase $500 billion in mortgage-backed securities. The program is expected to begin in early January, slightly later than previously expected.

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