Morning Movers 8/31: DCTH, MVL, VG, SVA, BJS, POZN Higher; TSEM, AIG, CMM, SPF Lower
Delcath Systems, Inc. (Nasdaq: DCTH) 34.2% HIGHER; announced that the FDA granted Delcath's request for orphan drug designation for doxorubicin for the treatment of hepatocellular carcinoma, also known as primary liver cancer. Clinicians in the U.S. diagnose nearly 20,000 cases of HCC annually. Click here for the full report.
Marvel (NYSE: MVL) 25.9% HIGHER; Disney (NYSE: DIS) and Marvel announced today that it has acquired is a deal valued at $4 billion dollars, or $50 per Marvel share based on the closing price of Disney stock on Friday, August 28. Under the terms of the agreement and based on the closing price of Disney on August 28, 2009, Marvel shareholders would receive a total of $30 per share in cash plus approximately 0.745 Disney shares for each Marvel share they own.
Vonage (NYSE: VG) 12.4% HIGHER; wild swings in this stock are continuing this week. From August 18 to August 26, shares jumped more than 500%, correcting on both Thursday and Friday. The stock fell 31% to close last week's trading and seems to be correcting today.
Sinovac Biotech Ltd. (NYSE: SVA) 11.4% HIGHER; said its H1N1 vaccine has passed the experts evaluation organized by State Food and Drug Administration. The vaccine is expected to obtain the production license within this week.
BJ Services Company (NYSE: BJS) 11.1% HIGHER; Baker Hughes Incorporated (NYSE: BHI) has agreed to acquire BJ Services in a transaction valued at $5.5 billion. Click here for the full report.
POZEN Inc. (NASDAQ: POZN) 10.8% HIGHER; announced that the U.S. FDA has accepted the New Drug Application for VIMOVO.
KKR Financial (NYSE: KFN) 10.2% HIGHER; upgraded to Market Outperform at JMP.
Tower Semiconductor, Ltd. (NASDAQ: TSEM) 10.8% LOWER; selected by TAEJIN Technology to manufacture its low power, high efficiency voltage regulator ICs. Tower was chosen for its advanced power management platform to enable TAEJIN to quickly address the needs of the multi-billion dollar voltage regulators market which, according to iSuppli is expected to grow from $5 billion in 2009 to approximately $7 billion in 2013.
AuthenTec (NASDAQ: AUTH) 9.9% HIGHER; announced it will expand its software, customer support, marketing and sales team in China.
AIG (NYSE: AIG) 9.7% LOWER; falling on a negative Barron's article. The publication called shares of AIG "overpriced".
Pacer International, Inc. (Nasdaq: PACR) 9.5% HIGHER; has successfully entered into an Amended and Restated Credit Agreement with its syndicate of financial institutions led by Bank of America, N.A. The A&R Credit Agreement provides for an asset-based, revolving credit facility of up to $125 million, subject to borrowing base availability, with an accordion feature that offers an increase of up to $50 million in the credit facility subject to certain conditions. The amended agreement does not change the original maturity date of April 5, 2012.
Crosstex Energy, L.P. (NASDAQ: XTEX) 9.1% HIGHER; Kinder Morgan Energy Partners, L.P. (NYSE: KMP) has entered into a purchase and sales agreement to acquire the natural gas treating business from Crosstex Energy L.P. and Crosstex Energy, Inc. (NASDAQ: XTXI) for approximately $266 million, including working capital, subject to certain closing adjustments.
Martha Stewart (NYSE: MSO) 8.5% HIGHER; trading higher on the Disney/Marvel M&A news.
China Mass Media Corp. (NYSE: CMM) 8.5% LOWER; reports Q2 EPS of $0.00, 1 cent lower than the analyst estimate of $0.01. Revenue for the quarter was $11.3 million, versus the consensus of $10.90 million. Sees Q3 sales of RMB65-RMB75 million.
Standard Pacific (NYSE: SPF) 8.2% LOWER; Raymond James downgrades from Market Perform to Underperform.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
Create E-mail AlertRelated Categories
Special ReportsStocks Mentioned
+0.16
-0.08Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
