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),…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
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.
Contact [email protected] for any questions or corrections.
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.