Georgia Gulf and Westlake Chemical Lead These 4 Big Percentage Gainers
Having traded in a 52-week range of $12.19 to $40.59, Georgia Gulf Corporation (NYSE:GGC) shares closed at $32.93, up $8.45, or 34.52%. Lending credability to comments by Telly Zachariades that he wouldn’t be surprised to see a higher bid, Georgia Gulf traded nearly 10% higher than the $30 per share offer from Westlake Chemical (NYSE:WLK). Westlake expcets that M&A activity in the chemical sector will pick up steam in 2012, arising from ample cash on the balance sheets of the larger players.
The Roxio sale caused Rovi Corporation (NASDAQ:ROVI) shares to rise 13 percent after the digital media services provider said it would sell its Roxio product line to Canada’s Corel Corp for an undisclosed amount. The company also forecast a strong 2012. Having traded in a 52-week range of $28.00 to $69.50, shares closed at $30.39, up $2.88, or 10.47%.
Following an announcement that it will acquire 4G tech developer Adaptrix, Acacia Research Corporation (NASDAQ:ACTG) became one of the highest percentage winners of the day. Acacia shares closed at $39.53, up $2.55, or 6.9%, havimg traded in a 52-week range of $22.12 to $47.24.