Morning Movers 2/23: Nova Chemicals (NCX) Up On Abu Dhabi Buyout, Citigroup (C) Up On Govt Talks
StreetInsider.com Morning Movers:
Nova Chemicals Corp. (NYSE: NCX) 300% HIGHER; International Petroleum Investment Company, wholly owned by the Government of the Emirate of Abu Dhabi, announced plans to acquire Nova Chemicals for $6 per share in cash.
UAL Corporation (Nasdaq: UAUA) 15% HIGHER; Bank of America upgrades to Buy
Citigroup (NYSE: C) 13% HIGHER; reports the govenment could convert its preferred stock into common stock in a plan that could boost the govenment's ownership to 40%.
Bank of America (NYSE: BAC) 13% HIGHER; Citi news
DryShips, Inc. (Nasdaq: DRYS) 11% HIGHER; Oppenheimer upgrades to Market Perform
JPMorgan Chase & Co. (NYSE: JPM) 7% HIGHER; Citi news
Arcelor Mittal (NYSE: MT) 5% LOWER; UBS downgrades to Neutral
Barrick Gold Corporation (NYSE: ABX) 3% LOWER; RBC downgrades to Sector Perform
General Electric Co. (NYSE: GE) 3% LOWER; Deutsche Bank cuts price target, makes cautious comments.
Exxon Mobil Corp. (NYSE: XOM) 2% HIGHER; Deutsche Bank upgrades to Buy
ConocoPhillips (NYSE: COP) 2% HIGHER; Deutsche Bank upgrades to Hold
SPDR Gold Shares (NYSE: GLD) 1.3% LOWER; Gold sees profit taking after rising to $1000 on Friday.
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