Monday's Winners and Losers: LJ International
On the winning side, Transmeridian Exploration (TMY), a Houston-based acquirer of Kazakh and Russian oil and natural gas, rose 40.7% to $1.97. Transmeridian Exploration announced it agreed to a cash offer from a British Virgin Islands-based entity set up by Lorrie Olivier, Transmeridian's chairman and CEO. The entity, Trans Meridian International, has offered to buy the company for about $825 million, or $3 a share, a 114% premium over Friday's closing price.
Vonage, which recently settled disputes brought by AT&T (T), Verizon (VZ) and Sprint (S), said it will not pay Nortel any money as part of the settlement. Shares of Vonage were up 30 cents to $2.30. Nortel was off 15 cents, or 1%, to $15.09. AT&T fell 88 cents, or 2.1%, to $41.56.
In a huge pop, LJ International (JADE) blasted off 64.8% to $5.72. The gemstone manufacturer announced results for the first six months of 2007 after Friday's market close. The Hong Kong company posted income of $1.83 million, or 8 cents a share, up from $950,000, or 5 cents a share, in the first six months of 2006.BlackBerry maker Research In Motion (RIMM) capped the year by giving up some of its gains. RIM was off $3.54, or 3%, to $113.40. The stock has run up a whopping 165% this year.
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