Source: Photo by Spencer Platt/Getty Images
This is Tuesday’s market winner and loser.
Biggest Winner
Shares of New Frontier Media Inc. (NASDAQ: NOOF) are up 54.23% to $2.01 on trading volume of 2.2 million shares. The company will be bought by the broadcasting arm of Larry Flint’s L.F.P. Inc. for about $33 million. Before Tuesday, the 52-week high was $1.75.
Biggest Loser
Shares of Bankrate Inc. (NYSE: RATE) are down 26% to $10.73 on trading volume of 3.5 million shares. The company announced that third-quarter revenue would be between $115.5 million and $117.5 million, well below the $132.7 million that analysts polled by Reuters were expecting. Before Tuesday, the 52-week low was $13.93.
Samuel Weigley
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