King Pharma, Avon, Transocean big market movers

AP News
Posted: Oct 12, 2010 5:02 PM
King Pharma, Avon, Transocean big market movers

Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market:


King Pharmaceuticals Inc., up $3.99 at $14.14

Pfizer is buying the drug developer for $3.6 billion, or $14.25 per share _ a 40 percent premium to Monday's closing price.

Avon Products Inc., up $1.38 at $34.54

A British paper said that French beauty company L'Oreal may be interested in making a bid for the cosmetics and skin care seller.

Cott Corp., down 36 cents at $7.71

A Stifel Nicolaus analyst downgraded the soft drink maker and trimmed earnings estimates because of the high cost of corn.

Entergy Corp., down 33 cents at $76.81

The Justice Department is investigating the power company's competitive practices in four states where it supplies electricty.

Transocean Ltd., up $2.90 at $64.81

The government lifted a moratorium on drilling for oil in the Gulf of Mexico six weeks ahead of schedule, boosting the oil rig operator.


Corinthian Colleges Inc., down 43 cents at $5.90

The for-profit school's president plans to resign from the company in October and there are no immediate plans to replace him.

RightNow Technologies Inc., up $3.34 at $23.48

The customer service software provider raised its third quarter guidance because of higher demand and named a new president.

Geron Corp., up 70 cents at $6.37

Shares jumped for a second day after the start of a trial on embryonic stem cell therapy for spinal cord injuries.