At about noon, the DJIA is still down 43 points at about 12,819, the Nasdaq has made up some ground, but is still down about 8 points at around 2,898, and the S&P 500 has also made up some of its earlier losses but remains down about 3 points at 1,342.
Among the major movers at around noon today are SureWest Communications (NASDAQ: SURW), O’Charley’s Inc. (NASDAQ: CHUX), BioLineRx Ltd (NASDAQ: BLRX), Sohu.com Inc. (NASDAQL: SOHU), and Changyou.com Ltd. (NASDAQ: CYOU).
Shares of SureWest are up about 43% at $22.27. About 565,000 shares have been traded so far today, compared with a 3-month daily average of about 46,000 shares traded. The telecom provider has agreed to be acquired by Consolidated Communications Holdings Inc. (NASDAQ: CNSL) for about $341 million, or $23/share.
O’Charley’s is up nearly 42% at $9.80 after posting a new 52-week high of $9.88 earlier. Nearly 15 million shares have traded this morning, compared with a 3-month daily average of around 87,000. The company has agreed to be acquired by Fidelity National Financial Inc. (NYSE: FNF) for $221 million, about $9.85/share.
BioLineRx is up nearly 34% at $5.52. Nearly 2 million shares have traded this morning, compared with a 3-month daily average of about 158,000. The pharmaceuticals firm has signed a worldwide licensing agreement for its oral hepatitis C drug.
Sohu.com is down nearly -15% at $53.96. About 5 million shares have traded by mid-day, compared with a daily average of about 1.25 million. The Chinese internet company posted solid earnings, but its Q1 forecast was below expectations.
Changyou.com shares are down more than -12% at $25.56. More than 1 million shares have already traded this morning, compared with a 3-month daily average of about about 273,000 shares. The Chinese gaming company reported better-than-expected earnings today, but Sohu.com’s weakness is weighing on shares.
Paul Ausick
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