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Tickers in this Article: MNTA, NVS, NG, ABX, ALDA, CDI
Big Winners:

Shares of Momenta Pharmaceuticals (MNTA) climbed on Tuesday due to an announcement of a deal with Sandoz, a division of Novartis (NVS), one of the world's largest pharmaceutical companies. The deal involves the development of four generic drugs in which the drugs will be developed and manufactured mutually by both companies with profits being shared. Sandoz will also take an equity stake in Momenta with the purchase of 4.7 million shares, an investment of nearly $75 million. If certain milestones are met Momenta is subject to receive an additional $188 million in payments making the deal worth potentially $263 million to Momenta. After the announcement Momenta shares, which opened at $13.11, rose 37% to close at $18.02.

On Monday, NovaGold (NG) was the target of a $1.29 billion take-over offer by Barrick Gold Corp. (ABX), the world's largest producer of gold. The deal would give Barrick control of 75% of NovaGold's fully diluted shares. To fund the purchase, Barrick will use a combination of cash and credit, at a purchase price of $14.50 per share. Currently NovaGold is operating two early stage projects, Donlin Creek in Alaska and Galore Creek in British Columbia. After the offer NovaGold's shares gapped up 30% to open at $15.15 from a close of $11.67 on July 21st. On Tuesday NovaGold responded to the offer with a press release that stated they were disappointed with the $14.50 per share offer by Barrick. NovaGold believes that Barrick undervalued their "...world-class portfolio of gold and copper assets..." It appears that investors agreed with this statement bidding up the stock price over $2 above the offer price, anticipating a higher counter-bid by Barrick.



Big Losers:

Aldila Inc. (ALDA), the industry leader in the manufacture of graphite golf shafts, was left looking for a mulligan on Thursday after releasing second quarter earnings. The company's shares opened trading on Thursday at $17.13, a drop of approximately 33% from Wednesday's close of $25.72. Shares continued their freefall dropping another 19% to close the day at $13.92, a total decline of 45%. The company reported a significant decrease in both net income and sales when compared to the same quarter last year. Net Income decreased to $2.7 million from $3.6 million while revenue dropped to $17.4 million from $21.8 million. Although the company had recently enjoyed headlines of being the top shaft manufacturer at both the U.S. and British Opens, it cited a 21% drop in shaft sales and an overall slowdown in the golf market for their poor performance. Several analysts also recognized a decline in Aldila's market share that may lead to future problems for the company.

Shares of staffing service and outsourcing solutions company CDI Corp. (CDI) fell sharply after announcing its second quarter earnings on Thursday. The Philadelphia based company missed analyst estimates, which sent its stock down 26% from its open of $25.83 to end the day at $19.00. Analysts were looking for earnings of $0.31 per share on revenue of $319 million but the company missed both estimates as it reported earnings of $0.27 per share on $315 million in sales. Even though the company did see an increase in earnings and revenue on a year-over-year basis the expectations miss was enough to send share spiraling. It was also not the only bad piece of news as the company announced that they are being investigated on charges of anti-competitive behavior in Britain.

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