Unusual 11 Mid-Day Movers 2/25: TTWO, GTXI, CRME, GYI Higher; IMM, SMSI, ANAD Lower
Take-Two Interactive Software Inc. (NASDAQ: TTWO) 54.6% HIGHER; Electronic Arts made an unsolicted offer to acquire the company for $26 per share. TTWO rejected the offer.
Immtech Pharmaceuticals, Inc. (Amex: IMM) 45.5% LOWER; said it will focus on its new drug discovery programs targeting Hepatitis C, and drug-resistant bacterial and fungal infections, and will discontinue all development programs for pafuramidine maleate, an investigational therapy. The decision was made in response to recent reports related to additional events identified in a cohort of volunteers in a safety study involving the drug.
GTx, Inc. (NASDAQ: GTXI) 39.2% HIGHER; announced the results of Phase III clinical trials for its toremifene citrate 80 mg, an investigational therapy for the treatment of multiple side effects of androgen deprivation therapy (ADT) for advanced prostate cancer. The results showed that toremifene met key endpoints, according to Phase III data.
Cardiome Pharma Corp. (Nasdaq: CRME) 30.2% HIGHER; appears to be surging on no news. Such situations often suggest short sellers have begun covering their bets, causing a stock's price to rise.
Getty Images Inc. (NYSE: GYI) 30.2% HIGHER; entered into a definitive merger agreement to be acquired by affiliates of the private equity firm Hellman & Friedman LLC in a transaction valued at approximately $2.4 billion, including the assumption of existing debt. Under the terms of the agreement, Getty Images stockholders will receive $34.00 in cash for each outstanding share of common stock they own.
For Real-Time Market Moving News Sign Up for StreetInsider.com Premium - FREE TRIAL!
Michael Baker Corp. (AMEX: BKR) 23.8% LOWER; announced that the law firm Girard Gibbs LLP is investigating alleged securities fraud by Michael Baker and its executives between May 8, 2007 and February 22, 2008.
Security Capital Assurance (NYSE: SCA) 16.7% HIGHER; appears to be jumping on no recent news. With about 17.4% of SCA's float shorted so far this month, short sellers may be covering their bets, causing a short squeeze of shares of Security Capital Assurance.
Smith Micro Software Inc. (Nasdaq: SMSI) 15.4% LOWER; J.P. Morgan downgrades Smith Micro Software from Overweight to Neutral.
Valassis Communications (NYSE: VCI) 11.8% HIGHER; prior to the open on last Thursday, Valassis reported Q4 earnings results: EPS were $0.43 for the quarter, versus the consensus of $0.35. Revenues came in at $661.5 million, versus the consensus of $643.1 million. Valassis sees FY08 EPS of $2.14-$2.39, which may not compare to the consensus of $1.27. After jumping about 15% to $12 on Thursday, shares lost ground, falling back to the $11 level by the end of Friday, but today investors appear to be responding once again to strong numbers.
Repligen Corp. (Nasdaq: RGEN) 8.5% LOWER; is sinking despite no recent news. Shares of Repligen have already traded twice as many times as its average daily voulme of 289,000 shares.
ANADIGICS (Nasdaq: ANAD) 8% LOWER; continues to today, despite no news. In February's 16 trading days, shares of ANADIGICS have only seen up days five times.
Create E-mail AlertRelated Categories
Special ReportsStocks Mentioned
+0.00Related 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!
