Mid-Afternoon Movers (GTXI, PBY, TNB, CTIC, PMC)
At mid-afternoon, we’ve seen some changes among today’s big movers. On the plus side are GTX Inc. (NASDAQ: GTXI), Pep Boys – Manny, Joe and Jack (NYSE: PBY), and Thomas & Betts Corp. (NYSE: TNB). On the down side are…
At mid-afternoon, we’ve seen some changes among today’s big movers. On the plus side are GTX Inc. (NASDAQ: GTXI), Pep Boys – Manny, Joe and Jack (NYSE: PBY), and Thomas & Betts Corp. (NYSE: TNB). On the down side are Cell Therapeutics Inc. (NASDAQ: CTIC) and Pharmerica Corp. (NYSE: PMC).
GTX remains the day’s biggest gainer, up more than 57% at $6.20. The drug maker’s shares have been given a new price target of $19/share from Citigroup. We have more coverage here.
Pep Boys are up nearly 24% at $14.96 on a $1 billion buyout from private equity firm Gores Group.
Thomas & Betts is up nearly 23% on a $3.9 billion buyout from ABB Ltd. (NYSE: ABB).
Cell Therapeutics is down more than -17% at $1.10. The drug maker has withdrawn its application with FDA for approval of its non-Hodgkin’s lymphoma treatment.
Pharmerica is down more than -12% at $12.56. The drug maker wants a hostile takeover bid from Omnicare Inc. (NYSE: OCR) to be withdrawn following a Federal Trade Commission suit to block the deal. More coverage here.
The DJIA is off -0.30% at around 12, 623, the S&P 500 is down -0.41% at about 1,311, and the Nasdaq Composite is down –0.10% at about 2,814.
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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.