No Deal for New York Times? (NYT)

The New York Times Company (NYSE: NYT) started rising earlier today on buyout rumors and we have seen a virtual 300% of trading volume with more than 90 minutes left in the day.  The rumor mill noted billionaire Mexican investor Carlos Slim as potentially buying the rest of the company he does not own.  He owns approximately 6.5% of the company and if conversions of debt were all made it may be 14% or so.  CNBC just issued a brief note that a spokesperson for Carlos Slim has denied the rumors and said the rumor is absolutely not true.

Shares are up 4% at $11.38 on 7.7 million shares as of 2:21 PM EST.  Shares have traded as high as $12.00.

JON OGG

Top Day Trader Alert Stocks (OSIP, ARIA, SIRI, PALM, MIL, PLL, GAME)

These are this Monday’s top day trader and active trader alerts.  We have given added price and volume data and given the news or events behind the move with added color where applicable:

OSI Pharmaceuticals Inc. (NASDAQ: OSIP) is soaring this morning after Astellas in Japan said it was commencing a hostile tender offer directly to shareholders.  The $52.00 cash offer is actually under the current price now because holders anticipate that a higher offer will come.  At 8:34 AM EST we have seen 6 million shares trade hands and the stock is up 48% at $55.02.  The 52-week trading range was $27.01 to $39.83.

Ariad Pharmaceuticals, Inc. (NASDAQ: ARIA) is trrading up after it received Orphan Drug Designations for its investigational BCR-ABL inhibitor, AP24534, in chronic myeloid leukemia.  Shares are up 6% at $2.69 on almost 100K shares as of 8:42 AM EST.  The week range is $0.97 to $3.48 and the average volume is 1.7 million shares.

SIRIUS XM Radio Inc. (NASDAQ: SIRI) is down 5% at $0.966 this morning after Wunderlich cut its Buy rating down to Hold.  This was a valuation call as it issued a $1.00 target when it gave its Buy recommendation.  At 8:33 AM EST we have already seen close to 3 million shares trade hands.

Palm, Inc. (NASDAQ: PALM) is up marginally but it might not seem to be after Barron’s said it could down much further and go back toward $3.00 per share.  Shares are up 1% at $6.16 but that is on broad market gains and on traders hoping for a grossly oversold bounce rather than based on any real news.

Millipore Corporation (NYSE: MIL) is shooting this morning.  It got the big buyout it wanted… but from a different suitor.  Merck KGaA of Germany is paying $107 per share plus debt.  The stock is up 11.2%at $105.00 on 1.3 million shares as of 8:38 AM EST.

Pall Corp. (NYSE: PLL) is up in conjunction with Milipore.  This fluids and filtration play has also been thought of as a takeover target.  Thermo Fisher (NYSE: TMO) was supposed to be the Millipore buyer, and then there were rumors last week that 3M Co. (NYSE: MMM) had an interest in Millipore.  Maybe Pal is looking more and more attractive now.  Volume is thin but the stock is indicated up almost 5% at $41.35 as of 8:40 AM EST.

Shanda Games Limited (NASDAQ: GAME) posted a 13% rise in income but it doesn’t look t be pleasing investors.  At 8:44 AM EST we have shares down 12% at $7.28 and the volume is over 250,000 shares.  Its range since last year’s IPO is $7.95 to $13.00.  Today will mark its lowest levels…

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Jon C. Ogg