Today's Morning Top Gainers (SNR,NVGN,GCI,WAG,CIT)

Sunair Services Corp. (AMEX: SNR) is the top percentage gainers in morning trade and surged among 45% today to $2.68 on unusual volume of 1.72 million shares after today it announced that it has entered into a definitive merger agreement with Massey Services, Inc. pursuant to which Massey would acquire all of the outstanding common stock of Sunair in an all-cash transaction valued at $2.75 per share, which represents a premium of approximately 47% over the stock's closing price on September 25, 2009.

Novogen Limited (ADR) (NASDAQ: NVGN) rallied 45% on 350K shares and now trades at $3.73  on no news.  So far, shares of NVGN have rallied over 147% in the past six months

Gannett Co., Inc. (NYSE: GCI)  is also moving higher by 16% to $11.60 on 9.33  million shares  after the company said it expects third quarter non-GAAP earnings of $0.39 to $0.42 per share on revenue of $1.307 billion to $1.320 billion. The current consensus earnings estimate is $0.29 per share on revenue of $1.38 billion for the quarter ending September 30, 2009.

Walgreen Company (NYSE: WAG) soared 10% now trades at $37.38 on an unusual volume of 13.13 million shares after after it reported its 4^th Quarter results. The largest U.S. drugstore chain, posted a slightly smaller quarterly profit on Tuesday. In the fiscal fourth quarter ended on Aug. 31, profit fell to $436 million, or 44 cents per share from $443 million, or 45 cents per share, a year earlier. The latest quarter included 3 cents in costs and 7 cents in savings from Walgreen's transformation plans. Sales rose 7.6% to $15.7 billion, while sales at stores open at least a year rose 2.4%. Analysts expected earnings per share to drop 13% to 39 cents a share for the fourth quarter that ended Aug. 31 and revenue of $15.68 billion.

CIT Group Inc. (NYSE: CIT) jumped up 13% to $1.90 on 65.21 million shares after according to the NY Post Hedge fund manager John Paulson is thinking about engineering a merger between CIT Group Incand IndyMac Federal Bank. His hedge fund, Paulson & Co., is part of a group that bought the failed IndyMac from the FDIC earlier this year and he holds CIT's debt. Sources emphasized to the Post that that a merger has not been part of any formal discussions between CIT and IndyMac.- George White.