Midday movers: Acadia, McMoRan Exploration

Stocks gain as consumer confidence climbs and orders for core durable goods rise.

By MSN Money Partner Nov 27, 2012 2:29PM
Wall Street sign copyright Corbis, SuperStockInformation provided by Theflyonthewall.com

ConAgra Foods (CAG) agreed to acquire Ralcorp Holdings (RAH) for $90 per share, or about $6.8 billion, including the assumption of debt. 

Shares of Ralcorp shot up 26.4% to $88.76 following the deal announcement and ConAgra also advanced 4.7% after the news.

Continuing a recent trend, several companies declared new special dividends, with Dillard's (DDS) to pay a one-time dividend of $5 per share, Brown-Forman (BF.A, BF.B) declaring one at $4 per share, and  Las Vegas Sands (LVS) approving its own $2.75 per share special dividend.

Among the notable gainers was Acadia Pharmaceuticals (ACAD), up 140% following its report of positive results from a trial of its treatment for Parkinson's disease psychosis, or PDP. Also higher were shares of Corning (GLW), up nearly 8% after the company said it now sees stronger than forecasted Q4 LCD glass volume and Topeka raised its rating on the shares to "buy."

Among the noteworthy losers was McMoRan Exploration (MMR), which fell over 15% after being down Monday, as well, after the company provided an update on its Gulf of Mexico exploration results and indicated ongoing well difficulties. 

Also lower were shares of Thor Industries (THO), down 10% after its disappointing quarterly report. 
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