Unusual 11 Mid-Day Movers 1/28: LNY, KWD, MDVN, VVTV Higher; ADS, DISK, MELI Lower

January 28, 2008 12:57 PM EST

Alliance Data (NYSE: ADS) 34.5% LOWER; receives notice that Blackstone doesn't see meeting merger conditions.

Image Entertainment (Nasdaq: DISK) 27.2% LOWER; extends last week's loses this morning. Shares pulled back about 44% on Friday after the Company announced that BTP Acquisition Company notified Image that it was in breach of the amended and restated merger agreement. Image is selling off today as it appears the Company could be another broken M&A attempt.

Landry's Restaurants, Inc. (NYSE: LNY) 22.8% HIGHER; received a letter from Tilman J. Fertitta, Chairman, President and CEO, proposing to acquire all of the Company's outstanding common stock for $23.50 per share in cash, representing a 41% premium over the closing price of the Company's common stock on January 25, 2008.

Acorda Therapeutics, Inc. (Nasdaq: ACOR) 19.3% HIGHER; announced results from a thorough QT study of Fampridine-SR. This study evaluated the potential to cause an increase in the electrocardiographic QT interval. Fampridine-SR, at both therapeutic and supratherapeutic doses, was found to be no different than placebo.

Ceragon Networks (Nasdaq: CRNT) 17.5% LOWER; reports Q4 adj-EPS of $0.14, compared to $0.09 in the same quarter last year. Revenues for the quarter came in at $46.1 million, up 40% from $32.9 million in Q406.

Kellwood Company (NYSE: KWD) 17% HIGHER; today announced that it intends to remove all impediments to the $21.00 per share cash tender offer made by an affiliate of Sun Capital Securities Group ("Sun Capital") so that it can be consummated on February 12, 2008 if a majority of the shares are tendered. Sun Capital's $21.00 per share cash tender offer, under its terms, is not subject to financing or due diligence.

Subscribe to EasyStockAlerts and be the first to get market-breaking news!

MercadoLibre (Nasdaq: MELI) 16.6% LOWER; on Friday after the close, MercadoLibre filed to offer up to $292 million in stock.

Medivation (NASDAQ: MDVN) 16.4% HIGHER; announced that, based on its end-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA), the Company plans to begin a pivotal confirmatory Phase 3 trial of Dimebon™ for mild-to-moderate Alzheimer’s Disease in the second quarter of 2008.

YRC Worldwide (Nasdaq: YRCW) 14.9% LOWER; reports Q4 EPS of $0.01, ex-items, which may not compare to the consensus of $0.54. Revenues came in at $2.35 billion, versus the consensus of $2.29 billion. YRC Worldwide also announced that it expects Q1 to be difficult.

ValueVision Media (Nasdaq: VVTV) 13.1% HIGHER; shares of ValueVision have been extremely volatile lately. It seems another correction is happening today after the stock sold-off by more than 10% on Friday.

Penwest Pharmaceuticals (Nasdaq: PPCO) 11.3% HIGHER; Soleil Securities Group called last weeks investor sell-off of Penwest "WAY overdone" and maintains a Buy rating and $16 price target on the Company. This price target represents a more than 350% return from Penwest's current price of $3.45.

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• Sun Capital Partners
• Soleil Securities

Add Your Comment

Name

Subject

Body

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