OI Corp. (Nasdaq: OICO) 45.6% HIGHER; ITT Corp. (NYSE: ITT) announced that they, and OICO, entered an agreement whereby ITT would acquire OICO for $29 million, or about $12 per share.

Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) 37.1% LOWER; is lower as FDA briefing documents have been posted. Click here to see the FDA’s full report. The stock was also downgraded at Oppenheimer and Barclays today.

China Direct (Nasdaq: CDII) 24.2% HIGHER; the company announces that a subsidiary, CDI Beijing International Trading Co., Ltd., has received a contract from Beijing Tianrun Construction Co, Ltd. for the