Unusual 11 Mid-Day Movers 12/26: Jones Apparel (JNY) Up On Amended Credit Facility; GM (GM) Up On GMAC Bank Holding News
StreetInsider.com Unusual 11 Mid-Day Movers:
Allied Capital Corporation (NYSE: ALD) 44% HIGHER; Possible short covering. The company's $0.65/share dividend was payable today.
Jones Apparel Group, Inc. (NYSE: JNY) 35% HIGHER; Completes $600 Million Amended and Restated Bank Credit Facility
Spreadtrum Communications, Inc. (Nasdaq: SPRD) 17% LOWER; expects its fourth quarter revenue to be approximately $10 million, compared with revenue of $20 million in the third quarter of 2008.
General Motors (NYSE: GM) 13% HIGHER; GMAC has finally received federal approval to become a bank holding company. The move will allow GMAC to access the Fed's discount window, and, more importantly, the option to use the Treasury's Capital Purchase Program. Also, as a federally-regulated bank, GMAC will be able to issue debt backed by the FDIC.
Capstone Turbine Corp. (NASDAQ: CPST) 10% LOWER; files $150 million mixed securities shelf
Ford Motor Co. (NYSE: F) 6% HIGHER; Up with GM news
CommScope, Inc. (NYSE: CTV) 5% HIGHER; has amended the terms of its credit agreement originally entered into on December 27, 2007. The amended credit agreement permits CommScope to make, on or prior to March 23, 2009, cash payments of up to $200 million in the aggregate to acquire, prepay, redeem or purchase its 1.00% Convertible Senior Subordinated Debentures Due 2024.
Ashford Hospitality Trust, Inc. (NYSE: AHT) 4% HIGHER; Comments on Liquidity Position; Suspends Dividend
Amazon.com, Inc. (NASDAQ: AMZN) 2% HIGHER; announced the 2008 holiday season finished as its best ever, with over 6.3 million items ordered worldwide on the peak day, Dec. 15, which is a record-breaking 72.9 items per second.
New York Times (NYSE: NYT) 2% LOWER; Is looking to sell its 17.5% stake in New England Sports Ventures, the holding company of the Boston Red Sox baseball club.
Apple Inc. (NASDAQ: AAPL) 1% HIGHER; Wal-Mart (NYSE: WMT) confirms it will sell Apple's iPhone starting December 28th. Wal-Mart will offer the black 8 GB iPhone 3G model with the every day price of $197 and the 16 GB black or white model for $297, with a new two-year service agreement from AT&T or qualified upgrade.
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Allied Keeps going up
Johnny on Dec 26, 2008 02:04 PMWhat is causing the huge volume and upward pressure?