Shares of

Circuit City

(CC) - Get Report

gained $1.17, or 30%, to $5.07 after movies rental giant

Blockbuster

( BBI) made an unsolicited

$1.35 billion

bid for the electronics retailer. Blockbuster is offering $6 to $8 a share to Circuit City shareholders.

Blockbuster shares were down 44 cents, or 14.1%, to $2.68 on the news.

Meanwhile,

InterMune

(ITMN)

shares gave up 3.9%, to $17.20, while

Genentech

( DNA) shed 2.7% to $74.73.

Bear Stearns analyst Mark Schoenebaum sent a note to investors Monday alerting them of interim survival data from the AVAIL trial comparing chemotherapy alone to low and high doses of Genentech's Avastin in addition to chemotherapy in lung cancer.

Schoenebaum said that the interim survival data -- based on 50% of the events to occur in the trial -- are not statistically significant for either dose. Based on the data Schoenebaum said the probability has increased that only the low dose arm -- or possibly neither dose -- will reach statistical significance in the trial, which could hurt sales of the drug in lung cancer. But, he cautioned that the data are interim and that the trial uses a different chemotherapy regimen than is typical in the U.S. Genentech's shares were trading down 2.7% to $74.68.

On Friday, U.S. House Democrats John Dingell and Bart Stupak said that an investigation piqued questions about meeting minutes documented by

Merck

(MRK) - Get Report

and Schering-Plough on their now infamous ENHANCE trial for the cholesterol drug Vytorin. Dingell and Stupak say the minutes were created after-the-fact to appease lawmakers.

Merck shares were trading up 0.7% at $41.42 on Monday, but Schering's shares gave up 4% to $16.52.

Online gaming company

The9

(NCTY) - Get Report

gained $1.15, or 6.1%, to $19.90. The company said it expanded its original license agreement in mainland China with

Vivendi's

Blizzard Entertainment to include the rollout of the second expansion pack for Blizzard's blockbuster

World of Warcraft

game.

Orlando, Fla., airline

AirTran

( AAI) shares ascended 19% to $4.91. Raymond James upgraded the stock to outperform from market perform. The stock had fallen substantially Friday on news that sector buddy

Frontier Airlines

( FRNT) was

filing for bankruptcy

.

Clayton Holdings

( CLAY), a provider of outsourced services, analytics and consulting services for buyers and sellers of mortgage-related loans and securities, climbed 19% to $5.74. An affiliate of Greenfield Partners, a private equity firm, announced that it would buy the Shelton, Conn., company for $134 million, or $6 a share, plus repayment of $23.8 million in debt.

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