StreetInsider.com Unusual 11 Mid-Day Movers 11/20/06

November 20, 2006 12:11 PM EST

Cardica (Nasdaq: CRDC) 77.3% HIGHER; Company has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market its C-Port xA Distal Anastomosis System in the U.S. The C-Port xA system is the next generation of Cardica's C-Port system, and automates the creation of anastomoses, or attachments of blood vessels and grafts, such as those in coronary artery bypass graft surgeries.

Phelps Dodge (NYSE: PD) 28.4% HIGHER; Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) and Phelps Dodge Corporation have signed a definitive merger agreement under which FCX will acquire Phelps Dodge for approximately $25.9 billion in cash and stock, creating the world's largest publicly traded copper company.

CoTherix (Nasdaq: CTRX) 20.3% HIGHER; Actelion Ltd announced that it has entered into a definitive agreement to acquire CoTherix, Inc. for $13.50 per share.

Pacificnet (Nasdaq: PACT) 17% LOWER; reports Q3 results. Seeks Strategic Alternative for Low-Margin Telecom Business.

Cyberonics (Nasdaq: CYBX) 16.8% HIGHER; Announced that the Audit Committee of the Company's Board of Directors has completed its previously announced review of the Company's stock option grants, practices and procedures. CYBX) also announced today that Reese S. Terry, Jr., the Company's co-founder, former CEO and a current director, has been named Interim Chief Executive Officer. In addition, George E. Parker III has been named Interim Chief Operating Officer and John A. Riccardi has been named Interim Chief Financial Officer.

Acorda Therapeutics (Nasdaq: ACOR) 10% HIGHER; Stock is seeing momentum this morning , continuing a 3 day sprint from the mid-$14 level. The move is being attributed to takeover speculation, short covering and the addition to Nasdaq Biotech Index. Recently rumors surfaced Elan Corp. (NYSE: ELN) could be a buyer for the company, although the probability of such a deal appears low.

Mentor Corp (NYSE: MNT) 9.7% HIGHER; Announced that the U.S. Food and Drug Administration (FDA) has approved for sale the Company's MemoryGel silicone gel-filled breast implants with post-approval conditions.

OM Group (NYSE: OMG) 8.5% LOWER; Has entered into a definitive agreement to sell all of its nickel assets to Norilsk Nickel ("Norilsk") for $408 million in cash, on a debt-free/cash-free basis, plus a potential post closing adjustment for net working capital. The transaction, which has been unanimously approved by the Board of Directors of both companies, is subject to approval by regulatory authorities as well as other customary closing conditions.

Oregon Steel Mills (NYSE: OS) 8.5% HIGHER; Evraz Group S.A. and Oregon Steel Mills announced that they have signed a definitive agreement under which Evraz will acquire Oregon Steel for $63.25 per share, or an aggregate price of approximately $2.3 billion.

Equity Office Properties Trust (NYSE: EOP) 7% HIGHER; Announced that it has signed a definitive merger agreement to be acquired by Blackstone Real Estate Partners, an affiliate of The Blackstone Group, in a transaction valued at approximately $36 billion.

Allergan (NYSE: AGN) 6.5% HIGHER; Announced that the United States Food and Drug Administration (FDA) has approved Allergan's INAMED Silicone-Filled Breast Implants for use in breast augmentation, reconstruction and revision surgery.

Related Categories

Special Reports

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?