Editor's note: In this feature from Stockpickr, we highlight lists of stocks that have been upgraded by analysts or are experiencing activist investor situations or some other market-moving events.
: The charitable trust that owns a controlling interest in
is not satisfied with the candy maker's performance. According to a statement from the Hershey Trust, its board is "actively engaged in an ongoing process, the goal of which has been to ensure vigorous company board focus on resolving the company's current business challenges and on implementing new growth strategies."
The Wall Street Journal
reports Wednesday that the trust met with representatives of
to discuss a possible merger. The statement and maneuvering follows last week's announcement that CEO Richard Lenny plans to retire. Shares of Hershey sunk 79 cents, or 1.7%, at $45.26, while Cadbury jumped $1, or 2%, at $50.26.
to develop and commercialize Synta's skin cancer drug STA-4783. Synta, which will receive an upfront cash payment of $80 million, fell 7.3% to $9.50 in recent trading, while Glaxo is down a mere 15 cents at $53.45.
warned Wednesday that its third-quarter profits will
fall well short
of analysts' estimates. Earnings from continuing operations for the quarter, excluding special items, will likely be in the range of $1.30 to $1.40 a share. Analysts are calling for $1.91. The stock is trading 67 lower at $71.52.
: Friedman, Billings Ramsey downgraded
from outperform to market perform, citing valuation based on a $46 price target. However, FBR said the fundamental outlook remains strong. The downgrade sent shares 3% lower to $43.95.
: Merrill Lynch upgraded
from sell to neutral. The firm believes buybacks should support the stock in the near term and business is poised to recover some time in 2008. In response, the stock added 52 cents to $23.71.
:StreetInsider.com 13D Tracker points to a regulatory filing that's moving shares of
( BGP). William Ackman's
, which has an 11.7% stake in the bookstore chain, revealed in the filing that Borders had solicited the firm's views on "certain corporate governance and other matters including the composition of
its board of directors." Shares of Borders are up 19 cents, or 1.2%, at $15.74.
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