Wednesday, May 11, 2011

Today's Top Movers: AIG, SHPGY, ASTC, RTK

American International Group Inc. (NYSE: AIG) rallied more than 4% Wednesday after the global insurer and federal government said in a regulatory filing they would sell 300 million shares to the public.

Shares of Shire plc (NASDAQ: SHPGY) rallied more than 3% Wednesday on speculation that the company could be a takeover target.  

Astrotech Corporation (NASDAQ: ASTC)  surged more than 7% after it announced that its Astrotech Space Operations subsidiary has been awarded a $16.2 million contract to fabricate, install, and test Ground Support Equipment (GSE) for the U.S. government. Under a firm fixed-price contract, fabrication begins immediately with delivery targeted for the first quarter of fiscal year 2013.

Rentech, Inc. (AMEX: RTK) slumped more than 12% after the clean energy provider said that its loan guarantee application for a proposed renewable energy center has been placed on hold by the U.S. Department of Energy. The company's Port St. Joe Renewable Energy Project was expected to produce about 55 megawatts (MW) of power from woody biomass.

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