This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Monday's Winners & Losers: First Horizon National

First Horizon National (FHN - Get Report) climbed 9.2% to $21.36 on word the Memphis, Tenn., bank will halt lending to national homebuilders and commercial real estate businesses while remaining in the construction-lending industry in its home state and elsewhere in the Southeast. That will hasten the company's intended $2 billion reduction in its national real estate portfolio this year, First Horizon said.

Also riding higher was Nymex Holdings (NMX) after it and CME Group (CME - Get Report), a fellow commodities exchange, confirmed that they're in "preliminary" merger discussions with an exclusive 30-day negotiating period. Current numbers being kicked around would have CME paying $36 in cash and 0.1323 of its shares for each Nymex share -- in total, about $119.22 per Nymex share, based on CME's Friday closing price.

As of Nymex's last reported share count in November, that would mean a deal worth roughly $11.07 billion. Another component to the agreement, if and when it closes, may have Nymex buying back its 816 memberships for no up to $500 million.

New York-based Nymex was rising $8.26, or 7.7%, to $115.42 as Chicago's CME shed 1.8% to $617.85.

Satellite radio company Sirius (SIRI - Get Report) added 19 cents, or 6.6%, to $3.08 on renewed speculation that the company's $4.6 billion bid for its rival XM (XMSR) may be nearing regulatory approval.

Sirius has been waiting for FCC approval of the purchase since it announced the deal 11 months ago. Shares of XM were up 16 cents, or 1.5%, to $11.15.

Yahoo! (YHOO - Get Report) was off $1.16, or 5.3%, to $20.78, a day ahead of the company's fourth-quarter earnings report.

For the fourth quarter, Yahoo! forecast revenue between $1.31 billion and $1.45 billion. It didn't offer guidance on its EPS. Yahoo posted earnings of 19 cents a share on revenue of $1.22 billion a year ago.

Analysts polled by Thomson Financial expect EPS of 11 cents on revenue of $1.41 billion for the quarter. For the current quarter, analysts expect earnings of 12 cents a share on revenue of $1.37 billion.

Shares of Houston-based Landry's Restaurants (LNY) rose 22.7% to $20.45 on news that CEO Tilman Fertitta made an offer to buy the company for $1.3 billion, or $23.50 a share. The proposal represents a 41% premium over Landry's stock closing price Friday.

Ceragon Networks (CRNT - Get Report) shares fell 16.9% to $8.58 on less-than-knockout fourth-quarter earnings. Non-GAAP income for the Israeli maker of point-to-point wireless backhaul solutions was $4.9 million, or 14 cents a share, in line with analysts' expectations and up from $2.7 million, or 9 cents a share, in 2006.

This article was written by a staff member of TheStreet.com.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
CME $90.79 0.98%
CRNT $1.20 2.56%
FHN $14.37 0.63%
SIRI $3.91 0.77%
YHOO $44.66 0.46%

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs