Here’s what’s hot in the market today: Pharmaceutical company Icagen got a major boost from hints that Pfizer would purchase the company; EXCO Resources dropped as shareholders grew shifty waiting for big changes; Universal Forest Products was hurt by poor trends in the lumber industry; and toy company LeapFrog got a boost from playing coy with potential bidders.
Continucare (NYSE: ), a healthcare company that operates primary care medical centers nationwide, was up more than 30% on nearly 11 million shares. Metropolitan Health Networks (AMEX: ) said it would pay $416 million in cash and stock for Continucare and its shares were trading above $6.
Icagen (NASDAQ: ) was up nearly 130% on almost 3 million shares. Shares were trading around $5 after a Friday report from the AP suggested that Pfizer (NYSE: ) is considering acquiring Icagen. The acquisition still hasn’t been confirmed.
EXCO Resources (NYSE: ) fell about 9% on nearly 9 million shares traded in the oil and gas company. EXCO CEO Douglas Miller is attempting to take the company private, but according to
, he is having problems financing the take over. Shares were trading around $17.
LeapFrog Enterprises (NYSE: ) was up more than 3% on more than 850,000 shares. LF, a toy and educational products company, saw shares climb above $4 after CEO John Barbour said at the that the company was open to acquisition
Universal Forest Products (NASDAQ: ) announced on Friday it would seek to lower costs through layoffs following a drop in net sales this year and lower prices for lumber. The stock fell almost 11% to trade below $24.
As of this writing, Anthony John Agnello did not own a position in any of the stocks named here. Follow him on Twitter at and become a fan of
