Unusual 11 Mid-Day Movers 8/24: FNM, MERC, FRE, WCRX Higher; RPRX, TWI, NRP, VRX Lower
Fannie Mae (NYSE: FNM) 45.8% HIGHER; shares are continuing higher this week following last week's solid upside momentum. Over the last 3 trading sessions, shares of Fannie have nearly doubled, up about 90%. Just after noon, the stock has already traded 517 million times, which compares to the stock's average daily volume of just 18 million shares.
Mercer International (Nasdaq: MERC) 35.8% HIGHER; since announcing it's Q2 results on July 29, share of Mercer have skyrocketed more than 340%.
Freddie Mac (NYSE: FRE) 28.9% HIGHER; momentum is continuing in this bailed-out names.
Warner Chilcott plc (Nasdaq: WCRX) 28% HIGHER; The Procter & Gamble Company (NYSE: PG) and Warner Chilcott today announced an agreement for the sale of P&G's global pharmaceuticals business to Warner Chilcott for an up-front cash payment of $3.1 billion. Click here for the full report.
Charlotte Russe Holding, Inc. (NASDAQ: CHIC) 25.9% HIGHER; announced today that it has entered into a definitive agreement to be acquired and taken private by investment funds managed by Advent International Corporation at a price of $17.50 per share.
Repros Therapeutics (Nasdaq: RPRX) 9.8% LOWER; correcting today following a 50% jump on Friday. Shares have fallen below the $1 level today.
Mechel OAO (NYSE: MTL) 9.7% HIGHER; have jumped mid-day following an upgrade at Morgan Stanley. The firm lifted its investment rating on Mechel from Equalweight to Overweight.
Titan International (NYSE: TWI) 9.5% LOWER; announced earlier that it will halt output of its 13-foot tires as the company has said some of the tires have failed earlier at several oil-sands mines. The company has said it will resume output of this tire by the end of August.
Natural Resources Partners (NYSE: NRP) 9.4% LOWER; Citi downgrades from Hold to Sell. Price target lowered from $22 to $16.50.
Valeant Pharmaceuticals International (NYSE: VRX) 8.1% LOWER; today announced preliminary results from its Phase IIa proof-of-concept clinical trial of retigabine for the treatment of pain associated with postherpetic neuralgia, a painful and common complication of shingles. While retigabine was generally well tolerated, the study did not meet its pre-specified primary efficacy endpoint. Further detailed analyses are warranted and are ongoing.
Open Text (Nasdaq: OTEX) 5.5% LOWER; falling today following Thursday night's Q4 results and the ensuing wave of analyst calls.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
Mercer International (Nasdaq: MERC) 35.8% HIGHER; since announcing it's Q2 results on July 29, share of Mercer have skyrocketed more than 340%.
Freddie Mac (NYSE: FRE) 28.9% HIGHER; momentum is continuing in this bailed-out names.
Warner Chilcott plc (Nasdaq: WCRX) 28% HIGHER; The Procter & Gamble Company (NYSE: PG) and Warner Chilcott today announced an agreement for the sale of P&G's global pharmaceuticals business to Warner Chilcott for an up-front cash payment of $3.1 billion. Click here for the full report.
Charlotte Russe Holding, Inc. (NASDAQ: CHIC) 25.9% HIGHER; announced today that it has entered into a definitive agreement to be acquired and taken private by investment funds managed by Advent International Corporation at a price of $17.50 per share.
Repros Therapeutics (Nasdaq: RPRX) 9.8% LOWER; correcting today following a 50% jump on Friday. Shares have fallen below the $1 level today.
Mechel OAO (NYSE: MTL) 9.7% HIGHER; have jumped mid-day following an upgrade at Morgan Stanley. The firm lifted its investment rating on Mechel from Equalweight to Overweight.
Titan International (NYSE: TWI) 9.5% LOWER; announced earlier that it will halt output of its 13-foot tires as the company has said some of the tires have failed earlier at several oil-sands mines. The company has said it will resume output of this tire by the end of August.
Natural Resources Partners (NYSE: NRP) 9.4% LOWER; Citi downgrades from Hold to Sell. Price target lowered from $22 to $16.50.
Valeant Pharmaceuticals International (NYSE: VRX) 8.1% LOWER; today announced preliminary results from its Phase IIa proof-of-concept clinical trial of retigabine for the treatment of pain associated with postherpetic neuralgia, a painful and common complication of shingles. While retigabine was generally well tolerated, the study did not meet its pre-specified primary efficacy endpoint. Further detailed analyses are warranted and are ongoing.
Open Text (Nasdaq: OTEX) 5.5% LOWER; falling today following Thursday night's Q4 results and the ensuing wave of analyst calls.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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