Unusual 11 Mid-Day Movers 3/31: ANST, VRTX, BNT, XJT Higher; SGP, FRP, TMA, MRK Lower
Ansoft Corporation (Nasdaq: ANST) 29.8% HIGHER; ANSYS, Inc. (Nasdaq: ANSS) and Ansoft Corporation signed a definitive agreement whereby ANSYS will acquire Ansoft for a purchase price of approximately $832 million in a mix of cash and ANSYS common stock.
Vertex Pharmaceuticals (Nasdaq: VRTX) 26.3% HIGHER; in an 8-K filing, Vertex released interim results for Study 107, showing the week-4 rapid virological response rate was 70% in null-responders, 100% in non-responders, and 100% in relapsers. In comparison, 12-week viral negative data for Pegasys plus Ribavirin in null-responders was 17%.
Schering-Plough (NYSE: SGP) 25.6% LOWER; showed cholesterol drug Vytorin didn't slow clogging or arteries better than current cheaper drugs, prompting doctors to use the drug only as a last resort.
Fairpoint Communications, Inc. (NYSE: FRP) 18% LOWER; Goldman Sachs downgrades Fairpoint from Neutral to Sell, adds the stock to their Conviction Sell List.
Thornburg Mortgage (NYSE: TMA) 17% LOWER; announced that the company has received an extension through March 31, 2008, for the Override Agreement that the company had announced on March 19, 2008 whereby the company agreed to raise a minimum of net proceeds of $948 million in new capital as part of the 364-day agreement the company entered into with five of its remaining reverse repurchase agreement counterparties and their affiliates to provide approximately $5.8 billion of reverse repurchase agreement financing.
Merck (NYSE: MRK) 15.4% LOWER; Study showed cholesterol drug Vytorin didn't slow clogging or arteries better than current cheaper drugs, prompting doctors to use the drug only as a last resort.
Hawaiian Holdings (AMEX: HA) 14.6% HIGHER; may be benefiting today on news that Hawaiian Airlines will likely be receiving business from intra-island passengers using Aloha Airlines.
Bentley Pharmaceuticals, Inc. (NYSE: BNT) 14.6% HIGHER; Teva Pharmaceuticals (Nasdaq: TEVA) and Bentley entered into a definitive agreement under which Teva will acquire Bentley for approximately $360 million.
ExpressJet Holdings (NYSE: XJT) 14.2% HIGHER; since 11:40 AM ET, shares of ExpressJet have spiked more than 12% in about an hour of trading. No news has been released, so today's movement can probably be attributed to a rumor or possibly short-covering.
Advanced Battery Technologies, Inc. (Nasdaq: ABAT) 13.2% LOWER; reports FY07 revenues of $31.9 million, compared to $16.3 million in the same period last year. Net income increased 32% to $10.6 million from $8.0 million in 2006.
Maxwell Technologies (Nasdaq: MXWL) 12.9% HIGHER; appears to be correcting today after selling off about 21% on Friday. In the last 20 minutes of trading, shares of Maxwell fell from about $10.50 to close at $9.13.
Create E-mail AlertRelated Categories
Special ReportsStocks Mentioned
+0.00
-0.05Related 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!
