Market Overview

Biggest Losers (MERX, AAI, SGMO, CAR, GRS)

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Merix Corporation (NASDAQ: MERX) fell 26% to $2.05 on huge volume of 1.10 million shares after Viasystems Group, Inc. and Merix Corporation announced that they have entered into a definitive agreement to merge their businesses.

AirTran Holdings, Inc. (NYSE: AAI) plummeted 17% to $5.10 on unusual volume of 8.09 million shares after after the company announced a follow-on offering of nine million shares.

Sangamo Biosciences, Inc. (NASDAQ: SGMO) decreased $0.82 or 10.25% to $7.18 on huge volume of 1.31 million shares after today announced the pricing of a public offering of 3,000,000 shares of its common stock. The offering is expected to close on or about October 13, 2009, subject to the satisfaction of customary closing conditions. In addition, Sangamo has granted the underwriter a 30-day option to purchase up to an additional 450,000 shares of common stock to cover over-allotments, if any.

Avis Budget Group Inc. (NYSE: CAR) is the among the biggest percentage loser and now fell 6.55% to $12.41 on very unusual volume of 3.01 million shares after after the company said a proposed offering of $250 million in notes could reduce its earnings per share.

Gammon Gold, Inc. (NYSE: GRS) plunged 4.91% to $8.90 on very unusual volume of 2.56million shares after Gammon Gold, Inc. announced that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and UBS Securities Canada Inc. under which the underwriters have agreed to purchase on a bought deal basis 11,240,000 common shares (Common Shares) at a price of $8.90 per Common Share for gross proceeds of $100,036,000 (Offering).

Posted-In: Intraday Update Markets Movers

 

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