Monday's Biggest Decliners in the Market
Biomet Inc. said it was being acquired in a deal valued at $10.9 billion by a private equity group that includes Blackstone Group, Goldman Sachs Capital Partners and Kohlberg Kravis Roberts. As part of the deal, each Biomet share will be sold for $44 each, which represents a 4.8% premium to Friday's closing price of $42.
Delta Air Lines (Other OTC:DALRQ.PK - News) may file as soon as Tuesday a bankruptcy-reorganization valuing the carrier higher than a hostile merger offer from U.S. Airways does, The Wall Street Journal reported.
Imax Corp. (NASDAQ:IMAX - News) said it determined that a sale or merger of the company will not enhance shareholder value. The Toronto entertainment company said it will instead focus on the growth of its network and on strategic business initiatives.
L-3 Communications (NYSE:LLL - News) shares fellafter it said the loss of a contract to provide linguistic services to the U.S. Army in Iraq, Afghanistan and Guantanamo Bay, Cuba will cost it about 15 cents a share in 2007 earnings. The company lowered its 2007 profit forecast to $5.45 to $5.55 a share. Analysts surveyed by Thomson First Call forecast earnings of $5.73 a share, on average.
Mannatech Inc. (NASDAQ:MTEX - News) will replace American Italian Pasta Co. (NYSE:PLB - News) in the S&P SmallCap 600 after trading closes on Tuesday.
Nasdaq Stock Market Inc. (NASDAQ:NDAQ - News) approved a new employment contract for President and Chief Executive Robert Greifeld, extending his deal through Dec. 31, 2010.
Power Integrations Inc. (NASDAQ:POWI - News) said it informed the Nasdaq that it will not meet a Dec. 18 deadline to become current in its filings. The company expects its shares to be delisted from the Nasdaq Global Market as of the start of trading on Dec. 19.
Southwestern Energy Co. (NYSE:SWN - News) said late Friday its 2007 capital investment program is for $1.34 billion, up 45% from $925 million expected in 2006. For 2007, the natural gas company is looking for oil and gas production to rise 45% to 50% from the prior year.
Terex Corp. (NYSE:TEX - News) will replace Navistar International Corp. (NYSE:NAV - News) in the S&P 500 after the close of trading Tuesday.
Youbet.com (NASDAQ:UBET - News) said it will sell 6.2 million shares of its common stock at $3.25 a share. The Woodland Hills, Calif. online horse racing betting company said it plans to use the proceeds, which are estimated to be $18.5 million, to repay debt used to acquire United Tote, and for other general corporate purposes.
Delta Air Lines (Other OTC:DALRQ.PK - News) may file as soon as Tuesday a bankruptcy-reorganization valuing the carrier higher than a hostile merger offer from U.S. Airways does, The Wall Street Journal reported.
Imax Corp. (NASDAQ:IMAX - News) said it determined that a sale or merger of the company will not enhance shareholder value. The Toronto entertainment company said it will instead focus on the growth of its network and on strategic business initiatives.
L-3 Communications (NYSE:LLL - News) shares fellafter it said the loss of a contract to provide linguistic services to the U.S. Army in Iraq, Afghanistan and Guantanamo Bay, Cuba will cost it about 15 cents a share in 2007 earnings. The company lowered its 2007 profit forecast to $5.45 to $5.55 a share. Analysts surveyed by Thomson First Call forecast earnings of $5.73 a share, on average.
Mannatech Inc. (NASDAQ:MTEX - News) will replace American Italian Pasta Co. (NYSE:PLB - News) in the S&P SmallCap 600 after trading closes on Tuesday.
Nasdaq Stock Market Inc. (NASDAQ:NDAQ - News) approved a new employment contract for President and Chief Executive Robert Greifeld, extending his deal through Dec. 31, 2010.
Power Integrations Inc. (NASDAQ:POWI - News) said it informed the Nasdaq that it will not meet a Dec. 18 deadline to become current in its filings. The company expects its shares to be delisted from the Nasdaq Global Market as of the start of trading on Dec. 19.
Southwestern Energy Co. (NYSE:SWN - News) said late Friday its 2007 capital investment program is for $1.34 billion, up 45% from $925 million expected in 2006. For 2007, the natural gas company is looking for oil and gas production to rise 45% to 50% from the prior year.
Terex Corp. (NYSE:TEX - News) will replace Navistar International Corp. (NYSE:NAV - News) in the S&P 500 after the close of trading Tuesday.
Youbet.com (NASDAQ:UBET - News) said it will sell 6.2 million shares of its common stock at $3.25 a share. The Woodland Hills, Calif. online horse racing betting company said it plans to use the proceeds, which are estimated to be $18.5 million, to repay debt used to acquire United Tote, and for other general corporate purposes.
Labels: IMAX, LLL, MTEX, NAV, NDAQ, PLB, POWI, SWN, TEX, UBET
posted by Stock Administrator @ 12:58 PM
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