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Hot Stocks Of The Day: LVS, WL, BIOD, RTN, ANPI

 November 01, 2010 01:27 PM
 


US stocks rose on Monday as better-than-expected manufacturing data lifted investor sentiment.

Below we highlight few companies whose shares are actively trading in Monday's session.

Shares of Las Vegas Sands Corp. (NYSE: LVS) rallied more than 2% after Macau's Gaming Inspection and Coordination Bureau said that casino revenue in the world's biggest gambling hub jumped 50 percent to a record high of 18.869 billion patacas ($2.37 billion) in October from a year ago.

Wilmington Trust Corporation (NYSE: WL) plunged more than 42% after the company agreed to be bought by M&T Bank Corporation (NYSE: MTB) in a stock-for-stock transaction valued at $351 million. The deal values Wilmington Trust at $3.84 a share, or 46 percent less than its closing price on Friday.

Biodel Inc. (NASDAQ: BIOD) sank more than 42% after the U.S. Food and Drug Administration said that the company's new drug application for Linjeta injection for the treatment of type 1 and type 2 diabetes mellitus cannot be approved in its present form.

Shares of Raytheon Co. (NYSE: RTN) rallied more than 3% on Monday after a senior company official said that the missile maker intends to sell up to $4 billion in military sales to Saudi Arabia. The company is also planning to expand its Patriot air-defense system in the Persian Gulf.

Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI) tumbled more than 40% after the company announced that it has entered into a Recapitalization Support Agreement with the holders of approximately 73% of its 7.75% Senior Subordinated Notes to effectuate a recapitalization of the company that will result in a significant reduction of its debt.  Upon implementation, the recapitalization transaction will eliminate $250 million in total indebtedness and provide significant improvements to Angiotech's credit ratios, liquidity and financial flexibility.

Disclosure: Author doesn't own any of the stocks discussed here.
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