Nexen Inc. (NXY: Quote) is jumping over 54 percent to $26.37. CNOOC Ltd. (CEO) has agreed to acquire the Canadian company for $27.50 per share in cash. A total of about $15.1 billion would be paid for Nexen's common and preferred shares, and current debt of some $4.3 billion would remain outstanding.
GeoEye, Inc. (GEOY: Quote) is rising 37 percent to $20.80. DigitalGlobe, Inc. (DGI: Quote) is up 19 percent to $16.98. The companies have entered into a definitive merger agreement to combine in a stock and cash transaction valued at approximately $900 million. GeoEye shareowners will have the right to elect either 1.137 shares of DigitalGlobe common stock and $4.10 per share in cash, 100% of the consideration in cash at $20.27 or 100% consideration in stock at 0.425 shares of DigitalGlobe common stock.
Halliburton Co. (HAL: Quote) is up 0.36 percent to $30.88. The company's second quarter profit declined slightly from the previous year period. Revenue surged from the year-ago quarter and were above Wall Street view.
RailAmerica, Inc. (RA: Quote) is up 9 percent to $27.11. Genesee & Wyoming Inc. (GWR: Quote) has agreed to acquire the company for an all cash purchase price of $27.50 per share. GWI expects to fund this transaction and the simultaneous refinancing of its existing debt with approximately $2.0 billion of new debt and approximately $800 million of equity investment from Carlyle Group (CG).
Genon Energy Inc. (GEN: Quote) is surging 31 percent to $2.39. NRG Energy, Inc. (NRG: Quote) has agreed to acquire the company in an all-stock deal valued at about $1.7 billion. NRG is up 13 percent to $20.45.
McDonald's Corp. (MCD: Quote) is down 2 percent to $89.60. The company's second quarter profit declined 4 percent from the year-ago quarter and earnings per share were below Wall Street view. Consolidated revenues were flat and were below the consensus estimate. The company said it expects global comparable sales for July to be positive, but less than second quarter.
Nokia Corp. (NOK: Quote) is down over 3 percent to $1.65 as Moody's has downgraded the company to Ba3/NP, with negative outlook. Responding to the downgrade, Nokia said, while it is disappointed with this decision, its its impact on the company is limited. Nokia said it will continue to focus on lowering its cost structure rapidly, improving cash flow and maintaining a strong financial position.
Wet Seal Inc. (WTSLA) is falling 11 percent to $2.62. The company announced it has terminated the employment of its Chief Executive Officer, Susan McGalla, effective immediately. The company expects comparable store sales for the second fiscal quarter to decline between 10% and 11%, which is at the low end of its initial guidance range. In addition, the company expects to incur a wider loss in its quarter than previously anticipated.
Williams Companies, Inc. (WMB: Quote) is declining over 4 percent to $29.85. The company expects its second quarter adjusted earnings per share to be lower from prior year and also on a sequential basis. The company also lowered its earnings outlook for 2012 and 2013 primarily because of less-favorable commodity prices.
Trading in shares of Peet's Coffee & Tea, Inc. (PEET: Quote) was halted.
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by RTT Staff Writer
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