StreetInsider.com Unusual 11 Mid-Day Movers 11/27/06
Conolog Corp. (Nasdaq: CNLG) 135% HIGHER; Stock moving higher with no specific news releases, however, the stock has lost over 60% in value over the past 6 months.
Targeted Genetics (Nasdaq: TGEN) 47% HIGHER; Momentum stock seeing interest again today with no specific news releases.
Pointer Telocation (Nasdaq: PNTR) 36.5% HIGHER; Seeing continued momentum following Friday's 89.5% move.
Scottish Re Group Limited (NYSE: SCT) 13.3% LOWER; Announced that it has entered into an agreement whereby MassMutual Capital Partners LLC, a member of the MassMutual Financial Group, and affiliates of Cerberus Capital Management, L.P., will each invest $300 million into the company, resulting in a total new equity investment of $600 million. According to the transaction agreement, the Convertible Preferred Shares may be converted into 150,000,000 ordinary shares of Scottish Re at any time, representing a 68.8% Ordinary Share ownership on a fully diluted basis at the time of investment. Scottish Re's board of directors has unanimously approved the transaction.
Revlon (NYSE: REV) 10% LOWER; Stock moving down as the DOW falls over 120 points today.
SORL Auto Parts (Nasdaq: SORL) 8.9% LOWER; Priced its follow-on offering of 4,285,714 shares at $7.25 per share. Net proceeds after underwriters' commissions and non-accountable will be approximately $28.352 million.
Sigma Designs (Nasdaq: SIGM) 7.5% LOWER; Stock moving lower ahead of tomorrow's earnings conference call.
Medifast Inc. (NYSE: MED) 5.6% HIGHER; Stock moving higher with no specific news releases today.
J Crew Group (NYSE: JCG) 5.3% LOWER; CIBC downgrades JCG from Sector Outperformer to Sector Performer on valuation.
Hess Corp. (NYSE: HES) 3% HIGHER; Citigroup raises price target from $58 to $68. Also, a weekend Barron's article discusses the LBO boom and mentions Hess as a potential target.
Las Vegas Sands (NYSE: LVS) 3% HIGHER; Jefferies analyst raises price target from $87.50 to $124.50 and says "We believe LVS is quickly becoming the world's #1 convention-based integrated resort company and remains one of our top picks."
Targeted Genetics (Nasdaq: TGEN) 47% HIGHER; Momentum stock seeing interest again today with no specific news releases.
Pointer Telocation (Nasdaq: PNTR) 36.5% HIGHER; Seeing continued momentum following Friday's 89.5% move.
Scottish Re Group Limited (NYSE: SCT) 13.3% LOWER; Announced that it has entered into an agreement whereby MassMutual Capital Partners LLC, a member of the MassMutual Financial Group, and affiliates of Cerberus Capital Management, L.P., will each invest $300 million into the company, resulting in a total new equity investment of $600 million. According to the transaction agreement, the Convertible Preferred Shares may be converted into 150,000,000 ordinary shares of Scottish Re at any time, representing a 68.8% Ordinary Share ownership on a fully diluted basis at the time of investment. Scottish Re's board of directors has unanimously approved the transaction.
Revlon (NYSE: REV) 10% LOWER; Stock moving down as the DOW falls over 120 points today.
SORL Auto Parts (Nasdaq: SORL) 8.9% LOWER; Priced its follow-on offering of 4,285,714 shares at $7.25 per share. Net proceeds after underwriters' commissions and non-accountable will be approximately $28.352 million.
Sigma Designs (Nasdaq: SIGM) 7.5% LOWER; Stock moving lower ahead of tomorrow's earnings conference call.
Medifast Inc. (NYSE: MED) 5.6% HIGHER; Stock moving higher with no specific news releases today.
J Crew Group (NYSE: JCG) 5.3% LOWER; CIBC downgrades JCG from Sector Outperformer to Sector Performer on valuation.
Hess Corp. (NYSE: HES) 3% HIGHER; Citigroup raises price target from $58 to $68. Also, a weekend Barron's article discusses the LBO boom and mentions Hess as a potential target.
Las Vegas Sands (NYSE: LVS) 3% HIGHER; Jefferies analyst raises price target from $87.50 to $124.50 and says "We believe LVS is quickly becoming the world's #1 convention-based integrated resort company and remains one of our top picks."
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