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Thursday's biggest gaining and declining stocks

CHICAGO (MarketWatch) -- Here are some of Thursday's biggest gaining and declining stocks:

Gainers

Flagstone Reinsurance (FSR) rose 22% after the company agreed to be acquired by Validus Holdings (VR) for $2 a share in cash, plus 0.1935 Validus share, for each of its shares. The deal values Flagstone at a 19.4% premium, the companies said.

Geron(GERN) shares rose 9%. Stifel Nicolaus analysts started the biotech company with a buy rating on Thursday morning.

Pandora (P) shares rose 14% on Thursday. Late Wednesday, reported that it broke even on an adjusted per-share basis for the second quarter ended July 31, as revenue jumped to $89.4 million from the prior year's $58.3 million. The Oakland, Calif., Internet radio-service provider issued a better-than-expected revenue forecast for the third quarter.

Decliners

Ampal-American Israel Corp. (AMPL) shares fell 26%. Late Wednesday, Ampal filed a voluntary petition for Chapter 11 reorganization in U.S. Bankruptcy Court for the Southern District of New York. Ampal is an investment company that acquires interests primarily in businesses located in or related to Israel.

Ciena(CIEN) shares fell 20%. The company reported an improved loss for the fiscal third quarter compared with a year ago. However, the computer-equipment maker predicted sales below analyst estimates.

Vera Bradley(VRA) shares fell 9%. The women's fashion accessory company's fiscal second-quarter earnings slipped 1.9% as margins weakened, though revenue improved. The earnings fell short of the handbag maker's expectations and as the company lowered its full-year guidance.