Mid-day Movers (SURW, CHUX, BLRX, SOHU, CYOU)

At about noon, the DJIA is still down 43 points at about 12,819, the Nasdaq has made up some ground, but is still down about 8 points at around 2,898, and the S&P 500 has also made up some of its earlier losses but remains down about 3 points at 1,342.

Among the major movers at around noon today are SureWest Communications (NASDAQ: SURW), O’Charley’s Inc. (NASDAQ: CHUX), BioLineRx Ltd (NASDAQ: BLRX), Sohu.com Inc. (NASDAQL: SOHU), and Changyou.com Ltd. (NASDAQ: CYOU).

Shares of SureWest are up about 43% at $22.27. About 565,000 shares have been traded so far today, compared with a 3-month daily average of about 46,000 shares traded. The telecom provider has agreed to be acquired by Consolidated Communications Holdings Inc. (NASDAQ: CNSL) for about $341 million, or $23/share.

O’Charley’s is up nearly 42% at $9.80 after posting a new 52-week high of $9.88 earlier. Nearly 15 million shares have traded this morning, compared with a 3-month daily average of around 87,000. The company has agreed to be acquired by Fidelity National Financial Inc. (NYSE: FNF) for $221 million, about $9.85/share.

BioLineRx is up nearly 34% at $5.52. Nearly 2 million shares have traded this morning, compared with a 3-month daily average of about 158,000. The pharmaceuticals firm has signed a worldwide licensing agreement for its oral hepatitis C drug.

Sohu.com is down nearly -15% at $53.96. About 5 million shares have traded by mid-day, compared with a daily average of about 1.25 million. The Chinese internet company posted solid earnings, but its Q1 forecast was below expectations.

Changyou.com shares are down more than -12% at $25.56. More than 1 million shares have already traded this morning, compared with a 3-month daily average of about about 273,000 shares. The Chinese gaming company reported better-than-expected earnings today, but Sohu.com’s weakness is weighing on shares.

Paul Ausick