Unusual 11 Mid-Day Movers 12/07: (TLB) (AMR) (MNI) Higher; (FRO) (THQI) (DHT) Lower
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The Talbots, Inc. (NYSE: TLB) 63.8% HIGHER; shares sharply higher after Sycamore Partners filed an amended 13D with the U.S. SEC sent a letter offering to acquire the company for $3 per share.
AMR Corp. (NYSE: AMR) 55.5% HIGHER; since announcing the filing for Chapter 11 Bankruptcy, AMR shares have not closed lower. The stock initially fell nearly 84 percent on Nov. 29th, however has gained more than 250 percent since. The stock is back over $1 today.
The McClatchy Company (NYSE: MNI) 42.4% HIGHER; has provided an update of business trends for 2011 and an outlook for 2012, including improving advertising revenues over the last three months, growing Sunday circulation and the expected receipt of nearly $30 million in dividends from the company's equity investments. Click here to see full report.
Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) 29.8% HIGHER; J. C. Penney Company, Inc. (NYSE: JCP) and MSOL announced they have entered into a strategic alliance and will join forces to create a unique and comprehensive retail experience featuring Martha Stewart products, know-how and advice. J. C. Penney has invested $38.5 million for 11 million newly issued shares of Class A common stock at $3.50 a share, for a 16.6 percent stake in MSLO. In addition, J. C. Penney will have representation on MSLO's Board of Directors. MSLO also announced today that it will pay a special dividend of $0.25 per share on Dec. 30 to shareholders of record as of Dec. 19.
Verso Paper Corp. (NYSE: VRS) 28.8% HIGHER; the stock is finally getting some traction following a 31 percent decline since reporting Q3 results on November 7th. The stock moved sharply higher on very heavy volume immediately after breaking above the 200-day SMA.
Mitcham Industries, Inc. (NASDAQ: MIND) 22.3% HIGHER; reported Q3 EPS of $0.52, $0.30 better than the analyst estimate of $0.22. Revenue for the quarter came in at $28 million versus the consensus estimate of $22.44 million.
Frontline Ltd. (NYSE: FRO) 13.6% LOWER; shares are trading down following a 18.6% increase yesterday on news the restructuring of Frontline has been approved by the Board. The stock was up 16.5 percent on Monday.
THQ Inc. (Nasdaq: THQI) 12.8% LOWER, shares continue to fall following a downgrade by Cowen yesterday to Neutral. Shares closed down roughly 9.8 percent yesterday.
DHT Holdings (NYSE: DHT) 10.4% LOWER; after retaking the $1 level yesterday (surging 26 percent), technicians are pushing the stock below this resistance level today. About an hour into trading, the stock has already traded more shares than the normal full-day average.
Jaguar Mining (NYSE: JAG) 9% LOWER; late last night the company announced its President and CEO Dan Titcomb will be leaving the company.
Nanosphere (Nasdaq: NSPH) 8.3% LOWER; stock broke below support at $1.50 just before 2pm ET today. Volume spiked as technicians pushed the stock below this level.
AMR Corp. (NYSE: AMR) 55.5% HIGHER; since announcing the filing for Chapter 11 Bankruptcy, AMR shares have not closed lower. The stock initially fell nearly 84 percent on Nov. 29th, however has gained more than 250 percent since. The stock is back over $1 today.
The McClatchy Company (NYSE: MNI) 42.4% HIGHER; has provided an update of business trends for 2011 and an outlook for 2012, including improving advertising revenues over the last three months, growing Sunday circulation and the expected receipt of nearly $30 million in dividends from the company's equity investments. Click here to see full report.
Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) 29.8% HIGHER; J. C. Penney Company, Inc. (NYSE: JCP) and MSOL announced they have entered into a strategic alliance and will join forces to create a unique and comprehensive retail experience featuring Martha Stewart products, know-how and advice. J. C. Penney has invested $38.5 million for 11 million newly issued shares of Class A common stock at $3.50 a share, for a 16.6 percent stake in MSLO. In addition, J. C. Penney will have representation on MSLO's Board of Directors. MSLO also announced today that it will pay a special dividend of $0.25 per share on Dec. 30 to shareholders of record as of Dec. 19.
Verso Paper Corp. (NYSE: VRS) 28.8% HIGHER; the stock is finally getting some traction following a 31 percent decline since reporting Q3 results on November 7th. The stock moved sharply higher on very heavy volume immediately after breaking above the 200-day SMA.
Mitcham Industries, Inc. (NASDAQ: MIND) 22.3% HIGHER; reported Q3 EPS of $0.52, $0.30 better than the analyst estimate of $0.22. Revenue for the quarter came in at $28 million versus the consensus estimate of $22.44 million.
Frontline Ltd. (NYSE: FRO) 13.6% LOWER; shares are trading down following a 18.6% increase yesterday on news the restructuring of Frontline has been approved by the Board. The stock was up 16.5 percent on Monday.
THQ Inc. (Nasdaq: THQI) 12.8% LOWER, shares continue to fall following a downgrade by Cowen yesterday to Neutral. Shares closed down roughly 9.8 percent yesterday.
DHT Holdings (NYSE: DHT) 10.4% LOWER; after retaking the $1 level yesterday (surging 26 percent), technicians are pushing the stock below this resistance level today. About an hour into trading, the stock has already traded more shares than the normal full-day average.
Jaguar Mining (NYSE: JAG) 9% LOWER; late last night the company announced its President and CEO Dan Titcomb will be leaving the company.
Nanosphere (Nasdaq: NSPH) 8.3% LOWER; stock broke below support at $1.50 just before 2pm ET today. Volume spiked as technicians pushed the stock below this level.
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