Unusual 11 Mid-Day Movers 11/21: DISK, LGND, SOLR, AU Higher; BGP, BHS, FL, MED Lower

November 21, 2008 1:14 PM EST

Image Entertainment, Inc. (NASDAQ: DISK) 111.6% HIGHER; has entered into a definitive merger agreement with Nyx Acquisitions, Inc. to sell Image in a transaction valued at approximately $100 million, including the assumption of the company's outstanding debt under its credit facility, replication advance obligation and convertible note. Under the terms of the merger agreement, Image stockholders will receive $2.75 per share in cash. The agreed-upon acquisition price represents a 299% premium to Image's closing share price of $0.69 on November 20, 2008, and a 267% premium to the 30-day average closing price of $0.75 ended November 20, 2008.

Borders Group (NYSE: BGP) 36.5% LOWER; shares are sliding again today on the back of concerning results from Barnes & Noble (NYSE: BKS). After opening today's trading session around $1.35, selling in shares of Borders intensified after the price dipped below the $1 level for the first time ever.

Ligand Pharmaceuticals, Inc. (NASDAQ: LGND) 35.3% HIGHER; partner GlaxoSmithKline (NYSE: GSK) granted accelerated approval of PROMACTA.

Brookfield Homes (NYSE: BHS) 32% LOWER; homebuilders are tumbling today; Centex (NYSE: CTX), Lennar (NYSE: LEN), Pulte Homes (NYSE: PHM), KB Home (NYSE: KBH), Ryland (NYSE: RYL), Hovnanian (NYSE: HOV), DR Horton (NYSE: DHI), Beazer Homes (NYSE: BZH), Meritage Homes (NYSE: MTH) and Toll Brothers (NYSE: TOL) have all high new 52-week lows today. Astonishing...

GT Solar (Nasdaq: SOLR) 31.7% HIGHER; despite several negative news items today (disappointing results at Canadian Solar (Nasdaq: CSIQ) and a Merrill downgrade of First Solar (Nasdaq: FSLR) and SunPower (Nasdaq: SPWRA)), solar stocks are rising and GT Solar is leading the sector higher.

Foot Locker, Inc. (NYSE: FL) 31.2% LOWER; reports Q3 EPS of $0.18, ex-items, 7 cents lower than the analyst estimate of $0.25. Revenue for the quarter was $1.309 billion, versus the consensus of $1.35 billion. Lowers its FY08 EPS guidance from $0.70-$0.85 to $0.50-$0.63.

AngloGold Ashanti Limited (NYSE: AU) 31.1% HIGHER; today announces that it has entered into a $1 billion term loan facility agreement with Standard Chartered Bank to refinance its convertible bond. Additionally, gold stocks are rising across the board as the commodity has jumped more than 7% as is once again approaching the $800/oz level.

Media General (NYSE: MEG) 29.6% LOWER; in a Form 4 late last night, Harbinger Capital's Phillip Falcone disclosed that over 11/18 and 11/19, he sold about 278,500 shares of Media General Class A stock.

Collective Brands (NYSE: PSS) 28.9% LOWER; after trading in a relatively limited range (atleast for this market) since the beginning of 2008, shares of PSS have absolutely tumbled since Nov. 12, falling about 60% since that date. Prior to the 12th, the stock had fallen only 30% since Jan. 1. Today's move is certainly notable as the stock is seeing unusually heavy volume: it has already traded about 1.9 million times, compared to the stocks average daily volume of 1.55 million.

Gold Fields (NYSE: GFI) 25.3% HIGHER; gold is surging today.

Barrick Gold (NYSE: ABX) 21.9% HIGHER; gold is surging today.

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Stocks Mentioned

ABX 28.75

-6.25 -17.86%
Volume: 442,865
Track ABX

AU 26.22

-11.33 -30.17%
Volume: 436,682
Track AU

BGP 28.75

+25.10 +687.67%
Volume: 448,475
Track BGP

BHS 27.46

+23.57 +605.91%
Volume: 438,246
Track BHS

BKS 25.15

+4.13 +19.65%
Volume: 442,064
Track BKS

BZH 29.79

+27.96 +1,527.87%
Volume: 441,414
Track BZH

CSIQ 12.02

-0.39 -3.14%
Volume: 964,689
Track CSIQ

CTX 25.17

+16.52 +190.98%
Volume: 443,985
Track CTX

DHI 25.04

+15.70 +168.09%
Volume: 441,103
Track DHI

DISK 0.85

-0.06 -6.59%
Volume: 412,922
Track DISK

FL 29.92

+19.56 +188.80%
Volume: 450,599
Track FL

FSLR 154.20

-1.09 -0.70%
Volume: 3,340,531
Track FSLR

GFI 26.35

+13.81 +110.13%
Volume: 443,471
Track GFI

GSK 28.70

-7.34 -20.37%
Volume: 445,783
Track GSK

HOV 2.30

-0.11 -4.56%
Volume: 752,664
Track HOV

KBH 12.93

-0.38 -2.85%
Volume: 3,967,111
Track KBH

LEN 9.16

-0.46 -4.78%
Volume: 4,709,753
Track LEN

LGND 2.87

-0.08 -2.71%
Volume: 300,151
Track LGND

MEG 28.62

+26.50 +1,250.00%
Volume: 441,150
Track MEG

MTH 28.60

+10.05 +54.18%
Volume: 445,616
Track MTH

PHM 28.73

+19.77 +220.65%
Volume: 442,412
Track PHM

PSS 25.05

+10.25 +69.26%
Volume: 438,171
Track PSS

RYL 27.46

+10.30 +60.02%
Volume: 445,997
Track RYL

SOLR 5.41

-0.17 -3.05%
Volume: 902,684
Track SOLR

SPWRA 26.23

-0.83 -3.07%
Volume: 2,096,507
Track SPWRA

TOL 27.49

+10.28 +59.73%
Volume: 445,563
Track TOL


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