Largest Net $ Movers of Note 09/25
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UPWARD MOVERS:
Maritrans Inc. (NYSE: TUG) +$11.16; Overseas Shipholding Group, Inc. (NYSE: OSG) and Maritrans jointly announced today that they have entered into a definitive merger agreement pursuant to which OSG will acquire Maritrans Inc. Under the terms of the merger agreement, unanimously approved by the Boards of Directors of each company, OSG will acquire Maritrans in an all-cash transaction for $37.50 per share.
Warrior Energy Service (Nasdaq: WARR) +$9.42; Warrior Energy Services Corporation (Nasdaq: WARR) has entered into a merger agreement to be acquired by Superior Energy Services, Inc. (NYSE: SPN). Under the terms of the agreement, for each share of Warrior Energy Common Stock, a stockholder will receive upon the closing of the transaction $14.50 in cash and 0.452 shares of Superior common stock.
GPC Biotech AG (Nasdaq: GPCB) +$5.15; Announced positive topline results for the double-blinded, randomized satraplatin Phase 3 registrational trial for prostate cancer.
DJO Incorporated (NYSE: DJO) +$3.86; The Company provided an update on its expectations for third quarter 2006 revenues and activities related to the integration of its Aircast business, acquired in April 2006. The Company said that it expects third quarter revenue to be at least at the upper end of its previous revenue guidance of between $106 million and $108 million. Current consensus is $107.11 million.
Armor Holdings (NYSE: AH) +$2.15; Announced the receipt of an order from AM General valued at $50.3 million and also announced the receipt of purchase orders that total approximately $15 million from the U. S. Department of State for the delivery of a large number of Centigon(R) armored passenger vehicles.
DOWNWARD MOVERS:
Superior Energy Services (NYSE: SPN) -$3.76; Company to acquire Warrior Energy Service Corp. (Nasdaq: WARR) for $14.50 in cash and 0.452 shares of Superior common stock.
Altria Group Inc. (NYSE: MO) -$3.52; US judge certifies class action suit in lights cigarette case.
Lufkin Industries Inc. (Nasdaq: LUFK) -$3.50; The stock has fallen over 23% since August 29th, 2006. Lufkin Industries, Inc. sells and services oil field pumping units, foundry castings, power transmission products and highway trailers throughout the world.
Microsemi Corp. (Nasdaq: MSCC) -$3.18; Expects fourth quarter revenues for fiscal 2006 to be flat to up 2 percent compared to revenues of the third quarter of fiscal 2006 and non-GAAP earnings to be $0.25 to $0.27 per share, excluding one-time charges. Current consensus is $0.30.
Chaparral Steel Company (Nasdaq: CHAP) -$2.67; UBS analyst downgrades some large steel makers, citing excess steel supply concerns.
Maritrans Inc. (NYSE: TUG) +$11.16; Overseas Shipholding Group, Inc. (NYSE: OSG) and Maritrans jointly announced today that they have entered into a definitive merger agreement pursuant to which OSG will acquire Maritrans Inc. Under the terms of the merger agreement, unanimously approved by the Boards of Directors of each company, OSG will acquire Maritrans in an all-cash transaction for $37.50 per share.
Warrior Energy Service (Nasdaq: WARR) +$9.42; Warrior Energy Services Corporation (Nasdaq: WARR) has entered into a merger agreement to be acquired by Superior Energy Services, Inc. (NYSE: SPN). Under the terms of the agreement, for each share of Warrior Energy Common Stock, a stockholder will receive upon the closing of the transaction $14.50 in cash and 0.452 shares of Superior common stock.
GPC Biotech AG (Nasdaq: GPCB) +$5.15; Announced positive topline results for the double-blinded, randomized satraplatin Phase 3 registrational trial for prostate cancer.
DJO Incorporated (NYSE: DJO) +$3.86; The Company provided an update on its expectations for third quarter 2006 revenues and activities related to the integration of its Aircast business, acquired in April 2006. The Company said that it expects third quarter revenue to be at least at the upper end of its previous revenue guidance of between $106 million and $108 million. Current consensus is $107.11 million.
Armor Holdings (NYSE: AH) +$2.15; Announced the receipt of an order from AM General valued at $50.3 million and also announced the receipt of purchase orders that total approximately $15 million from the U. S. Department of State for the delivery of a large number of Centigon(R) armored passenger vehicles.
DOWNWARD MOVERS:
Superior Energy Services (NYSE: SPN) -$3.76; Company to acquire Warrior Energy Service Corp. (Nasdaq: WARR) for $14.50 in cash and 0.452 shares of Superior common stock.
Altria Group Inc. (NYSE: MO) -$3.52; US judge certifies class action suit in lights cigarette case.
Lufkin Industries Inc. (Nasdaq: LUFK) -$3.50; The stock has fallen over 23% since August 29th, 2006. Lufkin Industries, Inc. sells and services oil field pumping units, foundry castings, power transmission products and highway trailers throughout the world.
Microsemi Corp. (Nasdaq: MSCC) -$3.18; Expects fourth quarter revenues for fiscal 2006 to be flat to up 2 percent compared to revenues of the third quarter of fiscal 2006 and non-GAAP earnings to be $0.25 to $0.27 per share, excluding one-time charges. Current consensus is $0.30.
Chaparral Steel Company (Nasdaq: CHAP) -$2.67; UBS analyst downgrades some large steel makers, citing excess steel supply concerns.
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