KSW Inc. (KSW: Quote) is rising 22 percent to $4.96. The company has agreed to be acquired by Related Companies, a privately-owned real estate firm in the United States, for $5.00 per share in cash. The transaction is valued in the aggregate at about $32.1 million.
Transocean Ltd. (RIG: Quote) is up over 1 percent to $48.18. The company has reached definitive agreements to sell 38 shallow water drilling rigs to Shelf Drilling International Holdings Ltd. for about $1.05 billion. The company expects a non-cash charge in its third quarter, related to impairment of long-lived assets or goodwill allocable to these assets.
American International Group Inc. (AIG: Quote) is down nearly 2 percent to $33.35. The U.S. Treasury has launched a public offering of $18 billion of company's common stock, at par value of $2.50 per share.
Plains Exploration & Production Co. (PXP: Quote) is falling nearly 6 percent to $38.00. The company has agreed to acquire certain deepwater Gulf of Mexico oil and gas properties from BP plc (BP) for $5.55 billion.
Titan Machinery, Inc. (TITN: Quote) is declining over 13 percent to $21.89. The company's second quarter profit declined from the year-ago period and its earnings per share were below Wall Street view. The company also lowered its annual net income and earnings per share outlook. That said, its second quarter revenue improved from the prior year period and also topped the consensus estimate.
Mellanox Technologies, Ltd. (MLNX: Quote) is declining more than 3 percent to $107. The company announced that its chief financial officer Michael Gray will retire from his current position effective November 5, 2012. The Company has appointed Jacob Shulman, its vice president of finance, as new finance chief.
Trading in shares of Geron Corp. (GERN: Quote) was halted. The company announced that it is discontinuing its randomized Phase 2 study of imetelstat in metastatic HER2-negative breast cancer because the median progression-free survival in the imetelstat arm was shorter than in the comparator arm. Geron also stated that it will take imetelstat forward into Phase 3 development for NSCLC.
Trading in shares of Zalicus Inc. (ZLCS: Quote) was halted. The company said it will discontinue further clinical development with Synavive, in the absence of a clinically meaningful benefit with Synavive compared to its active glucocorticoid component.
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by RTT Staff Writer
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