Mirant, RRI, DynCorp and UBS Rise

123jump.com Staff
12 Apr, 2010
New York City

DynCorp surged 48% after it agreed to be acquired by a private equity firm Cerberus Capital Management LP for $1.5 billion. Mirant Corp and RRI Energy agreed to merge in a stock transaction. UBS AG advanced after it indicated pre-tx profit.

[R]11:30 AM New York – DynCorp surged 48% after it agreed to be acquired by a private equity firm Cerberus Capital Management LP for $1.5 billion. Mirant Corp and RRI Energy agreed to merge in a stock transaction.[/R]

Of the stocks in S&P 500 index, 330 increased, 164 declined and 6 were unchanged.

Monster Worldwide, Inc led the decliners in the S&P 500 index with a loss of 2.0% followed by losses in Weyerhaeuser Timber Company of 1.8% and in NetApp, Inc of 1.4%, in Jacobs Engineering Group Inc of 1.4% and in Valero Energy Corporation of 1.1%.

Titanium Metals Corporation led gainers in the S&P 500 index with a rise of 3.9% followed by gains in NRG Energy, Inc 3.1%, in St. Jude Medical, Inc of 3.0% and in Expedia, Inc 2.6%.

Other Movers

Bruker Corporation ((BRKR)) added 3.9% or 57 cents to $15.05 after the maker of laboratory instruments and KIESTRA lab automation announce alliance in microbial identification by MALDI biotyper molecular fingerprinting and microbiology lab automation.

Carnival Corporation ((CCL)) rose 0.5% or 22 cents to $39.20 after the cruise-line operator was upgraded to “outperform” from “market perform” at Sanford C. Bernstein & Co.

Caterpillar Inc ((CAT)) rose 1.9% or $1.27 to $66.54 after the maker of bulldozers and excavators was upgraded to “outperform” from “neutral” at Robert W. Baird & Co.

California Pizza Kitchen, Inc ((CPKI)) rose 1.4% or 30 cents to $21.01 after the restaurant chain announced today first quarter revenues decreased 2.7% to $156.7 million from $161.1 million in the quarter a year ago.

Ciena Corporation gained 7.1% or $1.16 to $17.42 after the maker of fiber-optic network gear was raised to “buy” from “underperform” at Bank of America Corp.

Clean Energy Fuels Corp ((CLNE)) the provider of natural gas dropped 3.2% or 70 cents to $20.76.

C.H. Robinson Worldwide, Inc ((CHRW)) added 2.1% or $1.19 to $57.64 after the freight-shipment manager was upgraded to “overweight” from “neutral” at JPMorgan Chase & Co.

Devon Energy Corporation ((DVN)) rose 0.3% or 24 cents to $67.50 after the Apache Corp. is in final talks to buy Devon’s assets in the Gulf of Mexico for $750 million according to a report by Dow Jones News.

DynCorp International Inc ((DCP)) the defense contractor surged 48.6% or $5.71 to $17.46 after the company agreed to be acquired by Cerberus Capital Management LP for $1.5 billion.

Invesco Ltd ((IVZ)) advanced 1.9% or 43 cents to $22.50 after the manager of the AIM and PowerShares funds reported preliminary month-end assets under management of $419.6 billion. Average assets under management during the first quarter of 2010 were $417.6 billion, a 0.6% decrease from the fourth quarter 2009.

Lazard Limited ((LAZ)) the non-bank merger adviser fell 0.08% or 3 cents to $38.10.

MasterCard Inc ((MA)) increased 82 cents to $259.74 after the company appointed Ajay Banga as chief executive officer and president succeeding Robert W. Selander.

Most recently, Banga was chief executive officer of Citi Asia Pacific, responsible for company’s businesses in the region, including institutional banking, alternative investments, wealth management, consumer banking and credit cards. Prior to that, he was chairman and chief executive office or Citi’s international global consumer group in 2005.

Mirant Corporation ((MIR)) surged 13.0% or $1.40 to $12.13 after the electricity producer and RRI Energy, Inc announced that they have entered into a definitive agreement to create GenOn Energy, which will be one of the largest independent power producers in the United States, with approximately 24,700 megawatts of electric generating capacity and a pro forma market capitalization of $3.1 billion.

Palm, Inc ((PALM)) the Pre smartphone seller gained 8.9% or 46 cents to $5.62.

Texas Instruments Incorporated ((TXN)) rose 1.6% or 40 cents to $25.34 after the chipmaker was upgraded to “outperform” from “neutral” at Credit Suisse Group AG.

UBS AG, the Swiss financial services company advanced 4.1% to $17.20 after it said it expects first quarter pre-tax profit around CHF2.5 billion.

Net asset outflows in the wealth management declined to CHF 8 billion in the quarter from CHF 45.2 billion in the fourth quarter and out flows in the asset management group were CHF 3 billion in the quarter. The bank has suffered total of CHF373 billion in asset outflows during two years of financial crisis to 2009.

UBS first quarter will be published on May 4th 2010.

Under Armour, Inc ((UA)) added 2.8% or 95 cents to $33.23 after the maker of polyester workout apparel was upgraded to “overweight” from “neutral” at Piper Jaffray Cos.

ValueClick, Inc ((VCLK)) declined 6.3% or 64 cents to $9.41 after the company announced that Tom A. Vadnais is retiring and resigning from his roles as chief executive officer and director, effective today. The Company''s board of directors has elected James R. Zarley as company’s president and chief executive officer.

Vertex Pharmaceuticals Incorporated ((VRTX)) dropped 3.0% or $1.20 to $38.48 after the drugmaker was downgraded to “neutral” from “overweight” at JPMorgan.