Mid-Day Market Movers (TLCR, PDO, XFN, NBIX)

By Monica Gerson
Benzinga Staff Writer
June 16, 2010 9:41 AM

Posted in: Long Ideas, News, Earnings, Markets, Movers, Trading Ideas

Somanetics Corporation (NASDAQ: SMTS) climbed 31.48% to $24.85 by 10:10 am. Healthcare products company Covidien plc (NYSE: COV) has signed a deal with SMTS to acquire all the outstanding shares of the latter company for $298.7 million in cash.

Pyramid Oil Co (AMEX: PDO) soared 30.75% to $5.74. Oil prices have started moving up to $77.06 per barrel.

Xfone Inc (AMEX: XFN) jumped 15.79% to $1.32. XFN offers voice, video and data telecommunications services to residential and business customers in the US, the UK and Israel.

Neurocrine Biosciences Inc (NASDAQ: NBIX) shares advanced 10.85% to $5.21. Abbott Laboratories has agreed to pay NBIX around $575 million in cash under a deal aimed at developing and commercializing NBIX’ endometriosis treatment.

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