CH Energy Group, Inc. (CHG) is gaining 10 percent to $64.50 based on the news that Fortis Inc. (FTS.TO) has agreed to acquire the company for $65 per share in cash. The aggregate purchase price of the deal would be about $1.5 billion, including the assumption of approximately $500 million of debt on closing.
Home Depot, Inc. (HD) is up over 3 percent to $48.33. The company's fourth quarter profit improved 32 percent. Net sales for the quarter rose 5.9 percent. Both earnings per share and revenues were above analysts' estimates.
Dollar Thrifty Automotive Group, Inc. (DTG) is up more than 2 percent to $75.49. The company's fourth quarter profit soared from the previous year period and its adjusted earnings per share were above Wall Street view. Total revenue increased from the year-ago quarter, but was below consensus. The company also announced amendment to its shareholder rights plan by approving an one year extension of the original expiration date.
Wynn Resorts (WYNN) is gaining over 5 percent to $118.93. The company announced that a year-long investigation had uncovered apparent violations of U.S. anti-corruption laws by its director Kazuo Okada and companies related to him. The company said its board has requested Okada to resign as director and that it had redeemed his 20 percent stake in the company.
Kraft Foods Inc. (KFT) is rising over 1 percent to $38.45. The company's fourth quarter profit increased from the previous year period. Underlying earnings per share were in-line with analysts' estimate. Net revenues grew 6.6 percent, but were below consensus.
Prestige Brands Holdings, Inc. (PBH) is jumping 28 percent to $17.18. Genomma Lab Internacional, S.A.B. de C.V. has submitted a non-binding proposal to acquire the company's shares for $16.60 per share in cash.
Wal-Mart Stores, Inc. (WMT) is falling over 3 percent to $60.52. The company's fourth quarter profit declined from the year-ago quarter. Net sales rose 5.8 percent. Walmart U.S. reported positive comparable traffic, and comparable store sales growth of 1.5 percent in the quarter.
Anadarko Petroleum Corp. (APC) is down more than 1 percent to $86.60. The company announced that it has promoted Al Walker, its President and Chief Operating Officer, to the position of President and CEO. Jim Hackett, who was named CEO in December of 2003, will serve in the newly created position of Executive Chairman.
Ciena Corp. (CIEN) is falling more than 4 percent to $16.25 as the company lowered its first quarter revenue forecast, which is below Wall Street view. The company said it is disappointed with its expected first quarter revenue results.
GTx, Inc. (GTXI) is plunging 39 percent to $3.52 based the news that the FDA has placed a clinical hold on clinical trials evaluating Capesaris (GTx-758) for primary androgen deprivation therapy for advanced prostate cancer and secondary hormonal treatment. In addition, the company reported a net loss for its fourth quarter that widened from the previous year period.
Cobalt International Energy, In (CIE) is falling 6 percent to $32 based on the news that it has commenced a public offering of 47 million shares of its common stock. The company is offering 15.7 million shares of common stock and selling stockholders are offering an additional 31.3 million shares of common stock.
by RTT Staff Writer
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