YRC Worldwide, Apple, General Steel are big movers

AP News
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Posted: Dec 24, 2009 2:09 PM

The following stocks were among those that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market:

NYSE:

Merrimac Industries Inc., up $4.36 at $15.90

Diversified manufacturer Crane Co. is buying the company for $52 million, a steep premium to its closing price the day before.

Jackson Hewitt Tax Service Inc., down $1.34 at $4.50

The tax-return preparer said the bank supposed to supply its tax-refund loans would likely not be able to do so.

Valley National Bancorp, up 14 cents at $14.13

The regional bank said it repaid $100 million it owed the U.S. government under the Troubled Asset Relief Program.

General Steel Holdings Inc., down $1.22 at $4.57

The Chinese steel company will sell 5.6 million common shares and warrants for up to 2.8 million shares to raise $25 million.

NASDAQ:

Hoku Scientific Inc., up 30 cents at $2.76

A Chinese company, the new majority owner of the supplier of silicon for solar panels, canceled Hoku debt and is loaning it $50 million.

YRC Worldwide Inc., up 7 cents at $1.02

The trucking company extended the deadline on a debt-for-equity offer it needs to stave off bankruptcy for the fourth time, to Dec. 28.

Arena Pharmaceuticals Inc., down 15 cents at $3.64

Pharmaceutical giant Merck & Co. is ending a collaboration with the drug developer after a disappointing drug trial.

Apple Inc., up $6.94 at $209.04

Mounting anticipation for the debut of its rumored tablet device pumped up the technology company's shares to a record high.