GRM vaults, C busy, INVE falls

Posted on Wednesday, April 13th, 2011

Graham Packaging Co. (NYSE: GRM) shares climbed 25.7% to $21.01, on volume of 10.6 million shares, dwarfing a daily average around 437,000, after Silgan Holdings Inc. (Nasdaq: SLGN) said it would acquire its rival supplier of consumer-goods packing products in a deal worth roughly $4.1 billion, including debt. Shares of Silgan gained 12.4% to $41.38.

Citigroup Inc. (NYSE: C) was a volume behemoth on Wednesday, trading in 178.1 million shares, compared to a daily average of 477.1 million, at prices of $4.49, down 1.3% from Tuesday’s close.

Identive Group Inc. (Nasdaq: INVE) took a nose dive in Wednesday, losing 30.1% to $3.98, on volume of 13.1 million shares, well above its daily average of 624,000.

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