Tuesday's Winners & Losers: MGM Mirage

Updated from 12:03 p.m. EDT

MGM Mirage(MGM Quote) was among the NYSE's winners Tuesday, soaring 27.1% after Kirk Kerkorian's Tracinda Corp. said that it plans to enter negotiations to buy the casino company's Bellagio and City Center properties in Las Vegas.

Tracinda, which owns about 56% of MGM, is also interested in exploring strategic alternatives with regard to its investment, including a potential financial restructuring involving all or a substantial portion of the company. MGM said that its board will review Tracinda's Securities and Exchange Commission filing after its regularly scheduled meeting following its annual meeting with shareholders, which is scheduled for today. Shares of MGM closed up $17.03 to $79.98.

United Natural Foods(UNFI Quote) fell 10.6% after the organic food distributor posted third-quarter results that were below expectations. For the period ended April 28, the company earned $13.7 million, or 32 cents a share, on revenue of $732.5 million. Analysts expected earnings of 35 cents a share on revenue of $733.6 million. During the year-earlier period, the company earned $12.3 million, or 29 cents a share, on revenue of $637.1 million. "We experienced some short-term erosion of gross margin during the quarter due to our forward buying of inventory remaining below historical levels and specific inventory write-offs in broadline distribution, but we remain confident that the gross margin will improve over the next two quarters with these issues behind us," the company said. ...