Largest Net $ Movers of Note 07/11
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UPWARD MOVERS:
Harbor Florida Bancshares (Nasdaq: HARB) +$6.61; National City Corporation (NYSE: NCC) agrees to acquire Harbor Florida Bancshares for $45 per share in National City common stock. The transaction has a total indicated value of approximately $1.1 billion.
FLIR Systems (Nasdaq: FLIR) +$4.80; Textron (NYSE: TXT), and FLIR announced that Bell Helicopter has selected FLIR's BRITE Star II airborne stabilized multi-sensor system as the Target Acquisition Sensor Suite (TASS) for the US Army's Armed Reconnaissance Helicopter (ARH-70A) Program. FLIR was selected following a Dual Path Development Program designed to reduce program risk.
Talbots (NYSE: TLB) +$3.87; The company reported that its J. Jill integration efforts are ahead of plan, and anticipates an increase in expected cost saving synergies to be greater than $30 million for fiscal 2007, compared to its original expectation of $25 million. The company also said it now sees a Q2 loss between $0.08-0.10 vs. previous announcement of a loss between $0.05-0.15.
WellPoint (NYSE: WLP) +$2.80; St. Francis Hospital announced that an agreement for a five-year contract with Blue Cross Blue Shield of Georgia has been signed, enabling St. Francis to rejoin the BCBSGa HMO/POS and PPO networks, effective July 15, 2006. Also, the HMO sector has been moving higher over the past few sessions.
Intevac, Inc. (Nasdaq: IVAC) +$2.36; Company received orders from multiple customers for a total of eleven 200 Lean magnetic disk sputtering systems. The 200 Lean is Intevac's latest-generation disk sputtering system that provides significantly enhanced capabilities relative to the installed base of Intevac MDP-250 systems.
DOWNWARD MOVERS:
US Airways Group, Inc. (NYSE: LCC) -$3.98; Merrill downgrades LCC from Buy to Neutral
ChoicePoint (NYSE: CPS) -$3.71; Company announced its intent to divest various businesses resulting from its company-wide strategic review. ChoicePoint expects internal revenue (core revenue less revenue from acquisitions) growth from continuing operations for Q2 to be modestly higher than Q1 and in the mid-single digit range. Credit Suisse and ThinkEquity downgraded the stock this morning.
Stericycle Inc. (Nasdaq: SRCL) -$3.39; Merrill Lynch downgrades SRCL from Buy to Neutral
Infosys Technologies Ltd. (Nasdaq: INFY) -$2.70; Indian companies seeing pressure after reported rail system explosions
Joy Global Inc. (Nasdaq: JOYG) -$2.47; Stock down with no significant news. The stock has moved up from $20 range over the last 12 months.
Harbor Florida Bancshares (Nasdaq: HARB) +$6.61; National City Corporation (NYSE: NCC) agrees to acquire Harbor Florida Bancshares for $45 per share in National City common stock. The transaction has a total indicated value of approximately $1.1 billion.
FLIR Systems (Nasdaq: FLIR) +$4.80; Textron (NYSE: TXT), and FLIR announced that Bell Helicopter has selected FLIR's BRITE Star II airborne stabilized multi-sensor system as the Target Acquisition Sensor Suite (TASS) for the US Army's Armed Reconnaissance Helicopter (ARH-70A) Program. FLIR was selected following a Dual Path Development Program designed to reduce program risk.
Talbots (NYSE: TLB) +$3.87; The company reported that its J. Jill integration efforts are ahead of plan, and anticipates an increase in expected cost saving synergies to be greater than $30 million for fiscal 2007, compared to its original expectation of $25 million. The company also said it now sees a Q2 loss between $0.08-0.10 vs. previous announcement of a loss between $0.05-0.15.
WellPoint (NYSE: WLP) +$2.80; St. Francis Hospital announced that an agreement for a five-year contract with Blue Cross Blue Shield of Georgia has been signed, enabling St. Francis to rejoin the BCBSGa HMO/POS and PPO networks, effective July 15, 2006. Also, the HMO sector has been moving higher over the past few sessions.
Intevac, Inc. (Nasdaq: IVAC) +$2.36; Company received orders from multiple customers for a total of eleven 200 Lean magnetic disk sputtering systems. The 200 Lean is Intevac's latest-generation disk sputtering system that provides significantly enhanced capabilities relative to the installed base of Intevac MDP-250 systems.
DOWNWARD MOVERS:
US Airways Group, Inc. (NYSE: LCC) -$3.98; Merrill downgrades LCC from Buy to Neutral
ChoicePoint (NYSE: CPS) -$3.71; Company announced its intent to divest various businesses resulting from its company-wide strategic review. ChoicePoint expects internal revenue (core revenue less revenue from acquisitions) growth from continuing operations for Q2 to be modestly higher than Q1 and in the mid-single digit range. Credit Suisse and ThinkEquity downgraded the stock this morning.
Stericycle Inc. (Nasdaq: SRCL) -$3.39; Merrill Lynch downgrades SRCL from Buy to Neutral
Infosys Technologies Ltd. (Nasdaq: INFY) -$2.70; Indian companies seeing pressure after reported rail system explosions
Joy Global Inc. (Nasdaq: JOYG) -$2.47; Stock down with no significant news. The stock has moved up from $20 range over the last 12 months.
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