Mid-Afternoon Movers (SOA, AEN, INFI, NRGY, RVBD)
At mid-afternoon, we’ve seen a few changes among today’s big movers. On the plus side are Solutia Inc. (NYSE: SOA) and Adeona Pharmaceuticals Inc. (AMEX: AEN). On the down side are Infinity Pharmaceuticals Inc. (NASDAQ: INFI), Inergy L.P. (NYSE: NRGY),…
At mid-afternoon, we’ve seen a few changes among today’s big movers. On the plus side are Solutia Inc. (NYSE: SOA) and Adeona Pharmaceuticals Inc. (AMEX: AEN). On the down side are Infinity Pharmaceuticals Inc. (NASDAQ: INFI), Inergy L.P. (NYSE: NRGY), and Riverbed Technology Inc. (NASDAQ: RVBD).
Solutia remains the day’s biggest gainer, up nearly 40% at $27.25 on an agreed acquisition by Eastman Chemicals Co. (NYSE: EMN) that values the Solutia at $3.4 billion.
Adeona has moved up more than 16% to $2.06 on insider buying.
Infinity remains the day’s big loser, down -39% at $6.00. The company has cancelled a pancreatic cancer drug trial.
Inergy has fallen nearly -23% to $17.51 after posting a new 52-week low of $17.23. The natural gas distribution company has warned that it may cut payouts to unitholders due to low propane sales.
Riverbed is down about -19% today after warning on first quarter revenues.
The DJIA is off -0.59% at around 12, 660, the S&P 500 is down -0.28% at about 1,315, and the Nasdaq Composite is up 0.21% at about 2,811.
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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.
