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.
announced that it has extended its offer to acquire all of the outstanding common shares of
( MDG) to Sept. 24, from an initial deadline of Sept. 11. Meridian Gold has resisted overtures from Yamana Gold, but Meridian recently said third parties with whom it has been having discussions have indicated they "do not intend to make proposals relating to an acquisition of the company." Yamana shares are rising 14 cents, or 1%, to $11.83 while Meridian shares are climbing 66 cents, or 2%, to $29.78.
Positive comments Jim Cramer made this morning on
helped lift the stock.
the merger with
( XMSR) will close by year-end and shares of Sirius will climb to $6. If the deal were not to go through, Cramer believes the shares could fall to $2.50 but that that would be "the floor" on the stock. Sirius shares climbed 4% to $3.44, while XM soared 5.5% to $14.38.
is planning to sell its entire 22.4% stake in
Aluminum Corp. of China
for roughly $2 billion. Aluminum Corp. of China plunged $6.80 to $59.44 while Alcoa dropped 60 cents to $33.60.
now expects third-quarter revenue to come in between $3.56 billion and $3.72 billion, compared with a prior estimated range of $3.49 billion to $3.79 billion. The analyst consensus is $3.66 billion. The company expects earnings per share from continuing operations of 49 cents to 53 cents, compared with the previous range of 46 cents to 52 cents. The consensus is 49 cents. The revised EPS range includes about 2 cents from the gain on the sale of TI's semiconductor product line associated with DSL customer-premises equipment. The sale closed in July. Texas Instruments shares dipped 1.3% to $35.24 in recent trading.
: UBS downgraded
to neutral from buy. However, the firm lifted its price target to $53 from $50 and raised its 2008 EPS estimates to $1.34 from $1.30. The stock fell 2% to $48.97.
: Merrill Lynch upgraded
from neutral to buy, saying the company's worst issues are likely already behind it and even the worst-case scenario suggests limited downside potential. Amgen also got an upgrade from UBS, which raised its rating to neutral from sell. UBS lifted its price target to $61 from $50 and maintained its 2008 EPS estimate of $4.06. Amgen shares are climbing $2.06, or 3.8%, to $55.94.
: StreetInsider.com points to a regulatory filing on
Accredited Home Lenders
( LEND), in which 8.4% holders Michael Roth and Brian Stark disclosed a letter to the company urging the board of directors to pursue strategic alternatives to maximize shareholder value. In the letter the firm said, "On August 30, 2007, Lone Star publicly disclosed that it had made an offer to the Accredited Board of Directors to reduce the purchase price under the Agreement from $15.10 to $8.50 in exchange for resolving the pending litigation between Lone Star and Accredited." LEND was rising 2% to $10.51.
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