Morning Movers (WINN, SHIP, EGO, JAKK)
There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Winn-Dixie Stores, Inc. (NASDAQ: WINN), Seanergy Maritime Holdings Corp. (NASDAQ: SHIP), ElDorado Gold Corp. Ltd. (NYSE: EGO),…
There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Winn-Dixie Stores, Inc. (NASDAQ: WINN), Seanergy Maritime Holdings Corp. (NASDAQ: SHIP), ElDorado Gold Corp. Ltd. (NYSE: EGO), and JAKKS Pacific Inc. (NASDAQ: JAKK).
After the first hour of trading this morning, Winn-Dixie share are up more than 70% at $9.27. Volume is already nearly 40x the daily average. The regional grocery chain has agreed to a buyout offer worth about $560 million from Bi-Lo, another regional chain in the southeastern US. The offer of $9.50/share represents a premium of about 75% to Winn-Dixie’s Friday closing price.
Seanergy is up almost 17% at $2.58. Volume already equals the daily average. The dry bulk shipper has received a time charter for one of its four Capesize vessels for a period of 11-13 months.
ElDorado is down nearly -10% at $13.52. Volume has already surpassed the daily average. The gold miner has agreed to acquire European Goldfields Ltd. for about $2.4 billion.
JAKKS is down nearly -20% at $13.89, after posting a new 52-week low of $13.67 earlier. Volume is already about 4x the daily average. The toy and consumer products maker lowered full-year earnings and sales guidance this morning.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.