Shares of Giant Industries ( GI) were among the NYSE's losers Monday, falling 5% after Western Refining ( WNR) cut the price it will pay in its acquisition of the company. Western Refining will now pay $77 a share, down from an earlier offer of $83 a share. The company said the change was caused by a number of unexpected events, including recent refinery fires and increased insurance costs. The deal is expected to close in the first quarter. Separately, Giant Industries reported third-quarter earnings of $44 million, or $3 a share. During the year-earlier period, the company earned $46.6 million, or $3.38 a share. The company plans to post its full results tomorrow before the bell. Shares of Giant were trading down $4.35 to $76.60, while shares of Western Refining added 15 cents to $25.87. Wynn Resorts ( WYNN) rose 7% after they declared a special cash distribution of $6 a share. The distribution will be payable on Dec. 4 to shareholders of record on Nov. 23. Separately, the company also said that Jack Binion will cede his day-to-day operational responsibilities at the Wynn Macau casino and will now serve as director and principal in the development team in the company's Macau operations. Shares recently changed hands at $87.66, up $5.47. Shares of The Knot ( KNOT) rose 8% after the wedding-planning Web site posted better-than-expected third-quarter results. The company earned $3.3 million, or 11 cents a share, on revenue of $18.5 million. Analysts polled by Thomson First Call expected earnings of 10 cents a share and revenue of $17.8 million. During the year-earlier quarter, The Knot earned $722,000, or 3 cents a share, on revenue of $13.1 million. The company said that results in the latest period were bolstered by the acquisition of WeddingChannel.com. Shares were trading up $1.81 to $23.94.
Shares of CorVel ( CRVL) jumped 10% after the company declared a 3-for-2 stock split. The company, a provider of systems for managed-health care companies, said the stock dividend will be distributed Dec. 8 to stockholders of record Nov. 20. Shares were trading up $4.67 to $51.30. Shares of Xerium Technologies ( XRM) slumped 15% after the maker of clothing and roll covers posted disappointing third-quarter results. The company earned $5.7 million, or 13 cents a share, on revenue of $145.5 million. Analysts expected earnings of 26 cents a share and revenue of $147.4 million. A year earlier, Xerium posted a loss of $8 million, or 18 cents a share, on revenue of $140.1 million. The company said that earnings were hurt by significant investments in its businesses. Shares were trading down $1.55 to $10.12. NYSE volume leaders included Pfizer ( PFE), up 15 cents to $25.86; Motorola ( MOT), down 20 cents to $21.18; Nortel ( NT), up 4 cents to $2.07; Sprint Nextel ( S), up 15 cents to $20.51; EMC ( EMC), down 8 cents to $12.62; Lucent Technologies ( LU), up 1 cent to $2.51; and Wal-Mart ( HPQ), down 36 cents to $46.11. Among the Nasdaq's heavily traded stocks were Sun Microsystems ( SUNW), up 10 cents to $5.37; Cisco Systems ( CSCO), down 2 cents to $26.72; Intel ( INTC), up 39 cents to $20.97; Microsoft ( MSFT), up 15 cents to $29.39; Isis Pharmaceuticals ( ISIS), up $2.85 to $13.23; and Sirius Satellite Radio ( SIRI), up 1 cent to $4.14.