Largest $ Movers of Note - StreetInsider.com - 04/16/2007
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UPWARD MOVERS:
Chicago Mercantile Exchange Holdings Inc. (NYSE: CME) +$10.74; Stock moves up 2% with no specific news reports.
Google Inc. (Nasdaq: GOOG) +$9.15; Shares pop as investors like this morning's announcement that Google would acquire DoubleClick for $3.1 billion.
Trina Solar Ltd. (NYSE: TSL) +$8.25; December IPO continues momentum with no specific news reports.
SLM Corporation (NYSE: SLM) +$8.20; Agreed to be acquired by an investor group led by J.C. Flowers & Co for approximately $25 billion or $60.00 per share of common stock.
Rural Cellular (Nasdaq: RCCC) +$4.00; Bear Stearns upgrades RCCC from Peer Perform to Outperform. Bear Stearns analyst makes positive comments, seeing dramatic improvement in balance sheet and strong performance.
DOWNWARD MOVERS:
First Marblehead (NYSE: FMD) -$7.48; JPMorgan and Bank of America are providing funding for the SLM buyout (a competitor of FMD). JPM and BAC are also two of FMD's largest sources of service revenue and their loss could materially impact results. However, FMD says SLM's LBO will not affect the relationship with the two banks.
Quest Diagnostics (NYSE: DGX) -$2.58; Company has signed a definitive agreement to acquire AmeriPath in an all cash transaction valued at approximately $2 billion, including approximately $770 million in debt at closing. AmeriPath
Bunge Ltd. (NYSE: BG) -$1.71; Stock falls as Farm Products Sector loses stream mid-day.
The Knot, Inc. (Nasdaq: KNOT) -$1.38; Stock giving back gains from past few sessions when the company announced Macy's registry deal.
Dendreon (Nasdaq: DNDN) -$1.24; Brean Murray comments on Dendreon (Nasdaq: DNDN), saying a PROVENGE panelist voiced concerns to FDA. The firm said Dr. Howard Scher, who had voted against recommending PROVENGE for approval, recently published a letter to the FDA reiterating his vote and outlining his concerns. Scher said the FDA cannot approve PROVENGE based on data to date and the approval should be deferred. The firm said, Dr. Scher's letter points out the lack of data establishing clear efficacy of PROVENGE, poor trial design, and a concern over varying criteria required for different reviewing committees recommending approval to the FDA.
Chicago Mercantile Exchange Holdings Inc. (NYSE: CME) +$10.74; Stock moves up 2% with no specific news reports.
Google Inc. (Nasdaq: GOOG) +$9.15; Shares pop as investors like this morning's announcement that Google would acquire DoubleClick for $3.1 billion.
Trina Solar Ltd. (NYSE: TSL) +$8.25; December IPO continues momentum with no specific news reports.
SLM Corporation (NYSE: SLM) +$8.20; Agreed to be acquired by an investor group led by J.C. Flowers & Co for approximately $25 billion or $60.00 per share of common stock.
Rural Cellular (Nasdaq: RCCC) +$4.00; Bear Stearns upgrades RCCC from Peer Perform to Outperform. Bear Stearns analyst makes positive comments, seeing dramatic improvement in balance sheet and strong performance.
DOWNWARD MOVERS:
First Marblehead (NYSE: FMD) -$7.48; JPMorgan and Bank of America are providing funding for the SLM buyout (a competitor of FMD). JPM and BAC are also two of FMD's largest sources of service revenue and their loss could materially impact results. However, FMD says SLM's LBO will not affect the relationship with the two banks.
Quest Diagnostics (NYSE: DGX) -$2.58; Company has signed a definitive agreement to acquire AmeriPath in an all cash transaction valued at approximately $2 billion, including approximately $770 million in debt at closing. AmeriPath
Bunge Ltd. (NYSE: BG) -$1.71; Stock falls as Farm Products Sector loses stream mid-day.
The Knot, Inc. (Nasdaq: KNOT) -$1.38; Stock giving back gains from past few sessions when the company announced Macy's registry deal.
Dendreon (Nasdaq: DNDN) -$1.24; Brean Murray comments on Dendreon (Nasdaq: DNDN), saying a PROVENGE panelist voiced concerns to FDA. The firm said Dr. Howard Scher, who had voted against recommending PROVENGE for approval, recently published a letter to the FDA reiterating his vote and outlining his concerns. Scher said the FDA cannot approve PROVENGE based on data to date and the approval should be deferred. The firm said, Dr. Scher's letter points out the lack of data establishing clear efficacy of PROVENGE, poor trial design, and a concern over varying criteria required for different reviewing committees recommending approval to the FDA.
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