10 Stocks to Watch: RIM, Merit Medical
NEW YORK (TheStreet) -- Shares of Research In Motion (RIMM) were plunging by 17.2% to $29.25 in premarket trading Friday after the BlackBerry maker again lowered its outlook for the full year and announced plans for unspecified layoffs.
Merit Medical Systems (MMSI) shares were plunging 7.4% to $17.20 after the medical devices company said it is planning a public offering of common stock. Merit expects to use proceeds from the offering to partially repay debt, expand manufacturing facilities and for potential acquisitions and general corporate purposes.
Shares of BJ's Wholesale Club (BJ) were popping by 5.4% to $50.44 on news that private-equity firm Leonard Green & Partners said it is joining forces with CVC Capital Partners to enter a bid to buy BJ's.
Harbin Electric (HRBN) endured an ugly session on Thursday, losing more than half its value, after Citron Research again hammered away at whether a $24 per share buyout offer from the company's CEO will come to pass. Harbin shares were recovering in premarket trading Friday, rising 3.8% to $7.25.
Steel producer Steel Dynamics (STLD) expects second-quarter earnings of between 35 cents to 40 cents a share vs. the average analyst estimate of 57 cents a share. Shares were falling 2.9% to $14.91.
Shares of Internet radio station Pandora (P) dropped more than 20% Thursday, falling below their initial pricing level just a day after the company's strong public debut. Pandora shares were falling 2.9% to $12.88 in premarket trading.
Shares of Potash Corp. (POT) were rising 2.4% to $53.20 after the fertilizer company was raised to buy from hold by TD Newcrest.
Capital One Financial (COF) said it plans to buy ING's (ING) online bank for $9 billion. Capital One shares were rising 1.5% to $49.75.
Software giant Oracle (ORCL) is seeking billions of dollars in damages in the patent suit it has filed against Internet search giant Google (GOOG). Oracle shares were up 1.4% to $31.24, and Google shares were up 0.7% to $504. >>Search for Highest Dividends by Rate or Yield
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