Morning Movers (LIVE, SYNO, SSW, IVN, BBY)

By Paul Ausick Published Dec 13, 10:52AM EST

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There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include LiveDeal Inc. (NASDAQ: LIVE), Synovis Life Technologies, Inc. (NASDAQ: SYNO), Seaspan Corp. (NYSE: SSW), Ivanhoe Mines Ltd. (NYSE: IVN), and Best Buy Co. Inc. (NYSE: BBY).

After about 45 minutes of trading this morning, LiveDeal is up nearly 138% at $3.45. Volume is very heavy, at 69x the daily average of just over 1,000 shares traded. The customer acquisition company issued 1.6 million shares of new stock, raising its capital by by $2 million and enabling it to meet Nasdaq listing requirements.

Synovus is up nearly 51% at $27.78, a new 52-week high. Volume is about 30x the daily average of about 46,000 shares traded. The medical device maker agreed to be acquired by Baxter International Inc. (NYSE: BAX) for $28/share, a 52% premium to the stock’s Monday closing price. The deal is worth $325 million.

Seaspan is up more than 17% at $12.25. Volume is already about 4x total average daily volume. The container ship operator has agreed to acquire its privately held management company for $54 million and to retire the outstanding shares held by the management company. Seaspan also launched a tender offer to purchase 10 million of its outstanding shares at a price of $15/share.

Ivanhoe Mines is down nearly -13% at $18.08. Volume is already equal to more than the daily average. The junior miner lost a court decision to Rio Tinto plc (NYSE: RIO) which essentially kills Ivanhoe’s poison pill plan. Rio owns 49% of Ivanhoe and can maintain that stake regardless of new share issuances until April 2013.

Best Buy is down more than -10% at $25.16. Volume is already greater than the usual daily average. The electronics retailer missed earnings expectations in its third quarter ended in November.

About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.