Monday's Winners & Losers: Bear Stearns

Bear Stearns (BSC Quote), formerly one of the Street's largest brokerage firms, became a small-cap company this week after liquidity concerns hammered it, forcing the company to agree Sunday to sell itself to JPMorgan Chase (JPM Quote) for $2 a share. Shares were down 84% to $4.81.

In other deal news, the CME Group (CME Quote) announced its completion of its deal with futures exchange Nymex Holdings (NMX Quote). CME, which was resulted between a merger of the Chicago Mercantile Exchange and the Chicago Board of Trade last year, expects to close the $9.5 billion deal by the end of the year. Even though most analysts are positive about the merger, CME stock traded down 7.5% to $449.50 and Nymex slid 11.6% to $84.30, possibly as a result of the decline in MF Global, a large customer of CME.

Cardiome Pharma(CRME Quote) announced positive interim results from a 90-day midstage study of oral vernakalant for atrial fibrillation, or irregular heart rhythm. It also signaled that it is up for sale.

The ongoing trial of oral vernakalant was designed to find the appropriate dose to take into late-stage testing, and to further assess safety. The company said the interim analysis demonstrated statistically significant efficacy for the patient group receiving 500 milligram dose vs. placebo, and the drug was well-tolerated.

Cardiome said it hired Merrill Lynch as a financial advisor to evaluate partnership opportunities and alternative strategies that include acquisitions or a sale of all or part of the company. Shares shot up $2.23, or 36%, to $8.47.

After announcing a widened fourth-quarter loss last week, Halozyme(HALO Quote) suffered a few analyst actions Monday. Roth Capital lowered its price target for the stock to $6 from $9, and Brean Murray lowered its rating to $6 from $11. Halozyme shares lost 63 cents, or 12.7%, to $4.32.

Adobe(ADBE Quote) hit a 52-week low after it shed $1.82, or 5.6%, to $30.79. Adobe will report its first-quarter results Tuesday. Analysts are expecting revenue of $875.8 million and earnings of 45 cents a share. Meanwhile, a Goldman Sachs analyst reduced his financial estimates for the company and lowered the price target for the stock to $37 from $38 based on the belief that the decline in the macroeconomic environment will take a toll.

Other big names in tech, such as Google(GOOG Quote), Research In Motion(RIMM Quote) and Baidu(BIDU Quote), also felt the pain from the market.

Shares of Google were down $18.05, or 4.1%, to $419.87. The stock is now near its 52-week low of $413.04; Research In Motion was down $3.57, or 3.5%, to $98.12.

Chinese Internet search company Baidu also fell $20.95, or 7.8%, to $247.10.

Shares of Tempur-Pedic (TPX Quote) sagged to new lows on revised first-quarter guidance based on a "challenging economic environment." In a press release, CEO Thomas Byrant expressed his belief that "the U.S. mattress industry is experiencing an unprecedented slowdown." The company expects domestic net sales to decrease by a percentage in the high teens and international sales to increase by a high single-digit percentage. The stock fell 37.8% to $10.49.

And finally, commercial finance company CIT Group (CIT Quote) joined the carnage by giving back 27.6% of its value leaving it shares selling for $11.03. Investors worried about credit quality and liquidity began dumping shares on Monday.