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Obagi Medical Products (NASDAQ: OMPI) shares moved up 27.98% to $19.70 at 10:25 am. The volume of Obagi Medical Products shares traded was 40444% higher than normal. Obagi Medical agreed to be bought by Valeant Pharmaceuticals (NYSE: VRX) for $19.75 per share in cash.

Williams-Sonoma (NYSE: WSM) shares climbed 8.72% to $49.15. The volume of Williams-Sonoma shares traded was 714% higher than normal. Williams-Sonoma reported better-than-expected fourth-quarter profit. The company also announced its plans to buy back up to $750 million in stock and lift its dividend by 41%.

Walter Investment Management (NYSE: WAC) shares gained 1.11% to $33.35. The volume of Walter Investment Management shares traded was 600% higher than normal. Analysts at Sterne Agee upgraded Walter Investment from “neutral” to “buy.”

Philippine Long Distance Telephone Company (NYSE: PHI) shares rose 2.87% to $68.90. The volume of Philippine Long Distance Telephone shares traded was 555% higher than normal. Philippine Long Distance's trailing-twelve-month operating margin is 29.70%.

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