Stockpickr Lists: Keystone Auto Keyed Up
Editor's Note: In this feature from Stockpickr, we highlight lists of stocks that have made new highs, lows or seen other unusual activity.
Biggest % Gainers: QEP (QEPC) launched 63% after the maker of tools for flooring and tiling reported an increase in quarterly earnings. First-quarter earnings rose to $900,000, or 23 cents a share, from $300,000, or 8 cents a share, a year earlier. Tuesday, shares traded $4.06 higher to close at $10.52.
52-Week Highs: Pogo Producing (PPP) rose to a 52-week high of $58.29 after independent oil and gas producer Plains Exploration & Production (PXP) said Tuesday it would acquire the exploration company. The $3.6 billion stock-and-cash deal surprised analysts and forced shares $7.02, or 14% higher to close at $57.50.
Rising on Unusual Volume: Amid in increase of nearly 1,000% in average volume, shares of Keystone Automotive (KEYS) surged after the auto-parts distributor agreed to be acquired by LKQ (LKQX) for about $811 million in cash, or $48 a share. The price represents a 10% premium to Keystone's closing price of $43.61 on Monday. Tuesday, shares finished trading up $3.19, or 7.3%, at $46.80.Biggest % Losers: Metabasis Therapeutics (MBRX) sunk on news that its type 2 diabetes candidate revealed disappointing phase II results. A decision by Schering-Plough (SGP) to terminate its drug development agreement with the company on a hepatitis B treatment also added to the selloff. Shares closed down $3.75, or 54%, at $3.15. 52-Week Lows: Metabasis also dropped to a 52-week low of $2.75 during Tuesday's downslide. Stocks With Unusual Option Activity: Research In Motion (RIMM) experienced unusual options activity Tuesday. The stock traded 1.5% higher to close at $230.07.
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