Monday's biggest gaining and declining stocks
6/18/12 4:23 PM ET (MarketWatch)
CHICAGO (MarketWatch) -- Here are some of the biggest gaining and declining stocks on Monday:
Shares of Arena Pharmaceuticals(ARNA) jumped almost 12% ahead of an expected decision on diet drug lorcaserin. The Food and Drug Administration is slated to decide on whether to approve the product by June 27.
U.S.-listed shares of Extorre Gold Mines Ltd. (XG) (XG) rallied more than 56% after the developer of a flagship project in Argentina agreed to be acquired for C$4.26 a share of cash and stock by Yamana Gold Inc. (AUY) (YRI) , the companies said. The deal price represents a 68% premium over Extorre's Friday closing price at C$2.54 on the Toronto Stock Exchange.
U.S.-listed shares of Elster Group SE(ELT) rallied more than 18%. The company is in talks to be acquired by Melrose PLC, (MRO) , the parties said.
Groupon Inc. (GRPN) rose nearly 11% after Morgan Stanley analysts upgraded their rating to overweight from equal weight.
Osiris Therapeutics Inc. (OSIR) traded up 10%. Last week, the company said it received a second approval for stem-cell drug Prochymal, used in the treatment of acute graft-vs-host disease in children.
Suntech Power Holdings Co. (STP) added more than 9%. Japanese press reports said the country is trying to bolster solar energy use through tax incentives. Shares of First Solar Inc. (FSLR) also gained, up nearly 4%.
VeriFone Systems Inc. (PAY) rose almost 6%, gaining after UBS raised its rating to buy from neutral.
Body Central Corp. (BODY) plunged almost 49%. The retailer cut revenue and earnings forecasts for the second quarter and the fiscal year on sluggish same-store sales.
Buckeye Technologies Inc. (BKI) shed 9%. The industrial materials provider said it was forced to shut down a Florida plant after a dryer-drum failure on Sunday led to structural damage at the facility.
DSW Inc. (DSW) fell more than 11% after it projected weak second-quarter earnings, pointing to a more normalized mix of regular-priced and clearance-priced sales as well as pre-opening costs tied to its expansion plans. The retailer also unveiled a new $100 million stock-repurchase program.
Infinity Pharmaceuticals Inc. (INFI) closed down by 7.4% after the firm said it had ended Phase II trials of saridegib, an experimental drug for bone and cartilage cancers. The company described study results as "disappointing."