Morning Movers (GTXI, PBY, TNB, CTIC, PMC)

There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include GTX Inc. (NASDAQ: GTX), Pep Boys — Manny, Joe & Jack (NYSE: PBY), Thomas & Betts Corp. (NYSE: TNB), Cell Therapeutics Inc. (NASDAQ: CTIC), and Pharmerica Corp. (NYSE: PMC)

After the first half-hour of trading, GTX Inc. is up more than 30% at $5.15. Volume is about 8x the daily average of about 188,000 shares traded. The drug maker’s shares have been given a new price target of $19/share from Citigroup.

Pep Boys is up nearly 23% at $14.85 after posting a new 52-week high of $15.00 earlier. Volume is already more than 13x the daily average of about 500,000 shares traded. The auto parts retailer has agreed to an acquisition at $15/share. See more of our coverage here.

Thomas & Betts is up more than 22% at $71.00 after posting a new 52-week high of $71.30 earlier. Volume is already 20x the daily average of about 330,000 shares traded. The electrical components maker has agreed to an acquisition by ABB Ltd. for $3.9 billion.

Cell Therapeutics is down nearly -17% at $1.11. Volume already more than double the daily average of 1.8 million shares traded. The drug maker has withdrawn its application with FDA for approval of its non-Hodgkin’s lymphoma treatment.

Pharmerica is down nearly -13% at $12.49. Volume is already more than double the daily average of nearly 400,000 shares traded. The pharmacy services provider has expressed its wish that a hostile takeover bid from Omnicare Inc. (NYSE: OCR) will be withdrawn, following a Federal Trade Commission suit to block the deal. More coverage here.

Paul Ausick