Midday movers: AIG, Plains Exploration, Peregrine

Trading volume remains light as investors stay on the sidelines ahead of the Fed's next rate decision, expected later this week.

By MSN Money Partner Sep 10, 2012 12:50PM
 Wall Street sign copyright Corbis, SuperStockInformation provided by Theflyonthewall.com

The Treasury Department offered a further $18 billion of its holdings in AIG (AIG) common stock, which is expected to lower the government's ownership stake in the company below the 50% level. In connection with the offering, AIG plans to buy up to $5 billion in shares at the initial public offering price.

Plains Exploration (PXP) agreed to acquire certain BP (BP) Gulf of Mexico interests for $5.55 billion and also agreed to purchase Shell's (RDS.A) stake in one of the related Gulf fields for $560 million.

Among the notable gainers Monday were GT Advanced Technologies (GTAT), up 12% following a positive mention from Piper Jaffray in a note to investors, and Peregrine Pharmaceuticals (PPHM), up 4% after two firms raised their price targets on its shares and the company's quarterly revenues beat consensus.

Among the noteworthy losers were Geron (GERN), down 57% after the company said it was discontinuing a trial of an experimental cancer drug, and Nordion (NDZ), down 35% after it was unsuccessful in its claim for specific performance or monetary damages in a case against Atomic Energy of Canada Limited.



0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

122
122 rated 1
288
288 rated 2
472
472 rated 3
638
638 rated 4
628
628 rated 5
704
704 rated 6
609
609 rated 7
489
489 rated 8
275
275 rated 9
129
129 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
AAPLAPPLE Inc10
ATVIACTIVISION BLIZZARD Inc10
CTSHCOGNIZANT TECHNOLOGY SOLUTIONS10
FOXATWENTY-FIRST CENTURY FOX Inc CLASS A10
ITUBITAU UNIBANCO BANCO MULTIPLO S.A.10
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.