Pre-Open Movers 12/27: Document Sciences (DOCX) Soars On Buyout, SLM (SLM) Slammed On Offering
Tweet
Share
E-mail
StreetInsider.com Pre-Open Movers:
Document Sciences Corporation (Nasdaq: DOCX) 75% HIGHER; EMC Corporation (NYSE: EMC) announced a definitive agreement to acquire Document Sciences in a cash transaction valued at approximately $85 million, or $14.75 per share. Shares of Document Sciences closed at $8.23 yesterday.
SLM Corporation (NYSE: SLM) 12% LOWER; is commencing concurrent public offerings of common stock and mandatory convertible preferred stock to raise a total of $2.5 billion of capital. The company intends to apply approximately $2.0 billion of the net proceeds from the proposed offerings to physically settle its outstanding equity forward purchase contract, pursuant to which it will effect the repurchase of 44,039,890 shares of common stock deliverable to Sallie Mae under the contract
Noven Pharmaceuticals (NASDAQ: NOVN) 8% HIGHER; announced that the FDA has issued a tentative approval letter related to the NDA for Stavzor in 125mg, 250mg and 500mg strengths.
China Sunergy Co. Ltd. (NASDAQ: CSUN) 7% HIGHER; Sees continued momentum after yesterday's 39% run-up.
China Technology Development Group (NASDAQ: CTDC) 6% LOWER; Sees profit taking after yesterday's 70% run-up.
Cirrus Logic Inc. (Nasdaq: CRUS) 5% HIGHER; In a 13G filing, Soros Funds disclosed a 5.18% (4,616,666 shares). The firm held 679,000 shares at the quarter ended September 30, 2007.
FreeSeas Inc. (Nasdaq: FREE) 4% HIGHER; agreed to acquire two second-hand drybulk carriers from affiliated parties for a total combined purchase price of approximately US$76.75 million.
Akeena Solar, Inc. (NASDAQ: AKNS) 2.8% HIGHER; Sees continued momentum after yesterday's 22% run-up.
Citigroup Inc. (NYSE: C) 2.3% LOWER; Goldman Sachs said Citigroup may cut its divided by 40% to preserve cash. The firm also sees Q4 CDO-related write-offs of $18.7 billion. The firm also said Citigroup will have to raise more capital.
Potash Corp. (NYSE: POT) 2% HIGHER; Goldman Sachs upgrades to Buy
For Real-Time Market Moving News Sign Up for StreetInsider.com Premium - FREE TRIAL
Document Sciences Corporation (Nasdaq: DOCX) 75% HIGHER; EMC Corporation (NYSE: EMC) announced a definitive agreement to acquire Document Sciences in a cash transaction valued at approximately $85 million, or $14.75 per share. Shares of Document Sciences closed at $8.23 yesterday.
SLM Corporation (NYSE: SLM) 12% LOWER; is commencing concurrent public offerings of common stock and mandatory convertible preferred stock to raise a total of $2.5 billion of capital. The company intends to apply approximately $2.0 billion of the net proceeds from the proposed offerings to physically settle its outstanding equity forward purchase contract, pursuant to which it will effect the repurchase of 44,039,890 shares of common stock deliverable to Sallie Mae under the contract
Noven Pharmaceuticals (NASDAQ: NOVN) 8% HIGHER; announced that the FDA has issued a tentative approval letter related to the NDA for Stavzor in 125mg, 250mg and 500mg strengths.
China Sunergy Co. Ltd. (NASDAQ: CSUN) 7% HIGHER; Sees continued momentum after yesterday's 39% run-up.
China Technology Development Group (NASDAQ: CTDC) 6% LOWER; Sees profit taking after yesterday's 70% run-up.
Cirrus Logic Inc. (Nasdaq: CRUS) 5% HIGHER; In a 13G filing, Soros Funds disclosed a 5.18% (4,616,666 shares). The firm held 679,000 shares at the quarter ended September 30, 2007.
FreeSeas Inc. (Nasdaq: FREE) 4% HIGHER; agreed to acquire two second-hand drybulk carriers from affiliated parties for a total combined purchase price of approximately US$76.75 million.
Akeena Solar, Inc. (NASDAQ: AKNS) 2.8% HIGHER; Sees continued momentum after yesterday's 22% run-up.
Citigroup Inc. (NYSE: C) 2.3% LOWER; Goldman Sachs said Citigroup may cut its divided by 40% to preserve cash. The firm also sees Q4 CDO-related write-offs of $18.7 billion. The firm also said Citigroup will have to raise more capital.
Potash Corp. (NYSE: POT) 2% HIGHER; Goldman Sachs upgrades to Buy
For Real-Time Market Moving News Sign Up for StreetInsider.com Premium - FREE TRIAL
You May Also Be Interested In
- Morgan Stanley sees India steel stocks continuing gains
- Deutsche Bank sees mixed impact from potential US-Canada tariff cut
- Jefferies: 38% of Australian companies beat estimates this season
Create E-mail Alert Related Categories
General News, Special ReportsSign 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!
