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Monday's Winners & Losers: Wynn

Shares of Giant Industries (GI) were among the NYSE's losers Monday, falling 5% after Western Refining (WNR) cut the price it will pay in its acquisition of the company.

Western Refining will now pay $77 a share, down from an earlier offer of $83 a share. The company said the change was caused by a number of unexpected events, including recent refinery fires and increased insurance costs. The deal is expected to close in the first quarter.

Separately, Giant Industries reported third-quarter earnings of $44 million, or $3 a share. During the year-earlier period, the company earned $46.6 million, or $3.38 a share. The company plans to post its full results tomorrow before the bell. Shares of Giant were trading down $4.35 to $76.60, while shares of Western Refining added 15 cents to $25.87.

Wynn Resorts (WYNN - Get Report) rose 7% after they declared a special cash distribution of $6 a share. The distribution will be payable on Dec. 4 to shareholders of record on Nov. 23.

Separately, the company also said that Jack Binion will cede his day-to-day operational responsibilities at the Wynn Macau casino and will now serve as director and principal in the development team in the company's Macau operations. Shares recently changed hands at $87.66, up $5.47.

Shares of The Knot (KNOT) rose 8% after the wedding-planning Web site posted better-than-expected third-quarter results. The company earned $3.3 million, or 11 cents a share, on revenue of $18.5 million. Analysts polled by Thomson First Call expected earnings of 10 cents a share and revenue of $17.8 million. During the year-earlier quarter, The Knot earned $722,000, or 3 cents a share, on revenue of $13.1 million. The company said that results in the latest period were bolstered by the acquisition of Shares were trading up $1.81 to $23.94.

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CRVL $35.43 0.00%
PFE $34.32 0.00%
XRM $15.96 0.00%
WR $38.85 0.00%
WYNN $142.50 0.00%


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