Midday movers: Beazer Homes, Sherwin-Williams

Stocks are slightly lower amid light holiday trading volume.

By MSN Money Partner Nov 12, 2012 2:18PM
Wall Street sign copyright Corbis, SuperStockMergers dominated the domestic headlines, as Leucadia National (LUK) agreed to acquire the remaining 71.4% of Jefferies (JEF) it doesn't own for about $3.7 billion, or $17.66 per share, in an all-stock transaction. 

Annaly Capital Management (NLY) struck a deal to pay $12.50 per share for the remaining shares of CreXus (CXS). 

Also, after Friday's closing bell, Precision Castparts (PCP) announced a deal to buy Titanium Metals (TIE) for $16.50 per share, or $2.9 billion, a 43% premium to its closing price that day. 

Two homebuilders, D.R. Horton (DHI) and Beazer Homes (BZH), both declined following their quarterly reports. D.R. Horton's earnings beat consensus and its net sales orders climbed 24% but shares slid 3%. Beazer reported stronger than expected revenue but a wider than expected loss and its shares plunged 15%.

Among the notable stock market gainers Monday was Sherwin-Williams (SHW), which rose 6% following its agreement to buy privately held Comex for $2.34 billion to gain a bigger presence in Mexico. 

Also higher were shares of Sarepta Therapeutics (SRPT), which climbed over 13% after a JMP Securities analyst said a Duchenne muscular dystrophy treatment developed by GlaxoSmithKline (GSK) that will compete with Sarepta's eteplirsen is unlikely be approved until 2014 or 2015. 

Among the noteworthy losers were Clovis Oncology (CLVS), down more than 35% after a trial of one of its drugs failed to meet its primary or secondary endpoints, and Achillion Pharmaceuticals (ACHN), down almost 12% after its competitor Gilead (GILD) reported positive hepatitis C virus data.
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