Intercell AG offered $189 million, a 126% premium over the closing price on Monday, to purchase Iomai Corp. (
Nasdaq: IOMI). Shares of the biopharmaceutical leaped $3.41 to $6.33....
Falling home prices and a drop in retail sales weighed down the markets during the midday with the Dow dropping 55 points to 12,822. Nasdaq slipped a fraction to 2488.
Iomai Corp. (
Nasdaq:IOMI) shares are skyrocketing 116% after the Gaithersburg, Md.-based biopharmaceutical firm announced it is being bought by Intercell AG for $189 million in a stock-and-cash deal. Intercell, and Austria-based vaccine developer, will pay $6.60 per share, a 126% premium from Mondays closing price.
Major indices closed up the week here the details:
Nasdaq 3,4%
Dow Jones 1,9%
S&P 500 2,7%
Here The Weekly Movers:
GAINERS
Iomai Corporation
(IOMI) China Architectural Engineering, Inc.
(RCH) Pyramid Oil Company
(PDO) China Shenghuo Pharmaceutical Hldg, Inc.
(KUN) National Coal Corp.
(NCOC) VisionChina Media Inc
(VISN)
LOSERS
Gencor Industries, Inc. (DE)
(GENC) Crystal River Capital, Inc.
(CRZ) NxStage Medical, Inc.
(NXTM) Corus Bankshares, Inc.
(CORS) Website Pros, Inc.
(WSPI) Advance America, Cash Advance Centers
(AEA)
MOST NOTEWORTHY: Quicksilver Gas Services, Hireright, DaimlerChrysler and Masimo were today's noteworthy initiations:
AG Edwards initiated Quicksilver Gas Services (NYSE: KGS) with a Buy rating and $26 target as the firm believes the company's distribution growth has high visibility, based on its current asset base and the possibility of third-party acquisitions. UBS initiated shares with a Buy rating and $34 target.
Hireright (NASDAQ: HIRE) was initiated with a Market Perform rating and $13 target at Piper Jaffray, as the firm believes the company's distribution growth has high visibility, based on its current asset base and the possibility of third-party acquisitions. CIBC is positive on Hireright's extensive solution set and strategic alliances and initiated shares with a Sector Outperformer rating.
DaimlerChrysler (NYSE: DAI) was started at Bear Stearns with an Outperform rating. Following the Chrysler transaction, Bear expects Daimler to raise its margin guidance now that the company can focus on its truck platform.
Masimo Corporation (NASDAQ: MASI) was initiated with an Outperform rating at Piper Jaffray, as the firm believes the company's "best in class" technology will drive continued pulse oximetry share gains. Cowen initiated shares with a Neutral rating on valuation and Deutsche Bank started shares with a Buy rating and $30 target..
OTHER INITIATIONS:
TD Newcrest started shares of Vitran Corporation (NASDAQ: VTNC) with a Hold rating.
Lazard started shares of E-House China Holdings (NYSE: EJ) with a Buy rating; CIBC initiated shares with a Sector Outperformer rating and $25 target.
Rodman & Renshaw initiated shares of Iomai Corporation (NASDAQ: IOMI) with a Market Outperform rating and $4.25 target.
Here are the late Tuesday and early Wednesday calls.
UPGRADES
Apple AAPL Citigroup Hold » Buy RealNetworks RNWK Soleil Sell » Hold ArvinMeritor ARM UBS Neutral » Buy Iomai IOMI UBS Neutral » Buy Atlantic Tele-Network ATNI UBS Neutral » Buy Apria Healthcare AHG Oppenheimer Sell » Neutral HSBC Holdings HBC Citigroup Hold » Buy Westamerica Banc WABC Citigroup Hold » Buy AGCO Corp AG Bear Stearns Peer Perform » Outperform Advanta Corp ADVNB Friedman Billings Mkt Perform » Outperform Emdeon HLTH Friedman Billings Mkt Perform » Outperform Fresh Del Monte FDP BB&T Capital Mkts Underweight » Hold Alliance One AOI Davenport Neutral » Buy Universal Corp UVV Davenport Neutral » Buy Plum Creek PCL DA Davidson Neutral » Buy American Dental ADPI Dougherty & Company Neutral » Buy ValueClick VCLK Pacific Growth Equities Sell » Neutral Sensient SXT KeyBanc Capital Mkts / McDonald Hold » Buy Rohm and Haas ROH KeyBanc Capital Mkts / McDonald Buy » Aggressive Buy Intl Flavors IFF KeyBanc Capital Mkts / McDonald Buy » Aggressive Buy Koppers Holdings KOP KeyBanc Capital Mkts / McDonald Buy » Aggressive Buy Heartland Express HTLD Stifel Nicolaus Hold » Buy Centene CNC Matrix Research Buy » Strong Buy Inverness Medical IMA Caris & Company Above Average » Buy Sun Microsystems SUNW Caris & Company Average » Above Averag
DOWNGRADES
AC Moore ACMR Credit Suisse Outperform » Neutral First Marblehead FMD JP Morgan Overweight » Neutral ECI Telecom ECIL Jefferies & Co Buy » Hold Maguire Properties MPG Deutsche Securities Hold » Sell Community Health CYH Citigroup Buy » Hold Newcastle Investment NCT Citigroup Buy » Hold RAIT Invtmt Trust RAS KeyBanc Capital Mkts / McDonald Aggressive Buy » Hold MGIC Investment MTG Keefe Bruyette Outperform » Mkt Perform OSI Pharm OSIP CE Unterberg Towbin Buy » Market Perform Health Management HMA Deutsche Securities Buy » Hold Hot Topic HOTT AG Edwards Hold » Sell Energy Transfer Equity ETE UBS Neutral » Reduce West Marine WMAR Morgan Joseph Buy » Hold CV Therapeutics CVTX Needham & Co Buy » Hold Intevac IVAC Needham & Co Buy » Hold Simpson Manufacturing SSD Matrix Research Buy » Hold Goodyear Tire GT Matrix Research Hold » Sell
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