RadioShack, Apple Gain; BP, Schlumberger Fall

Mayank Mehta
01 Jun, 2010
New York City

RadioShack Corporation led gainers in the S&P 500 index with a rise of 6.8%. AIG to adhere to original AIA transaction terms. CONSOL Energy Inc. completes acquisition of CNX Gas Corp. HP to invest $1 billion to launch new era of enterprise services.

[R]11:00 AM New York - RadioShack Corporation led gainers in the S&P 500 index with a rise of 6.8%. AIG to adhere to original AIA transaction terms. CONSOL Energy Inc. completes acquisition of CNX Gas Corp. HP to invest $1 billion to launch new era of enterprise services.[/R]

Of the stocks in S&P 500 index, 55 increased, 444 declined and 1 were unchanged.

Anadarko Petroleum Corporation led the decliners in the S&P 500 index with a loss of 11.9% followed by losses in Halliburton Company of 6.6% and in Cameron International Corporation of 6.0%, in Smith International, Inc. of 4.7% and in Schlumberger Limited of 4.7%.

RadioShack Corporation led gainers in the S&P 500 index with a rise of 6.8% followed by gains in Tesoro Corporation of 2.0%, in Newmont Mining Corporation of 2.0% and in Apple Inc. of 1.7%.

Other Movers

American International Group, Inc. ((AIG)) rose 0.2% or 8 cents to $35.46 after the insurer announced today that after careful consideration the company will adhere to the original terms of its previously announced agreement with Prudential plc for Prudential to acquire AIG''s wholly owned pan-Asian life insurance subsidiary, AIA Group Limited.

Beasley Broadcast Group, Inc. ((BBGI)), the radio broadcaster rose 0.2% or 1 cent to $5.18.

The Bank of Nova Scotia ((BNS)) rose 4.4% or $2.03 to $47.69 after the bank reported second quarter revenues rose 7.5% to $3.87 billion from $3.60 billion a year ago. Net income in the quarter rose 28% to $1.05 billion or $1.02 per diluted share compared to net income of $821.0 million or 81 cents per share a year ago.

BP Plc ((BP)) plunged 11.8% or $5.16 to $37.79 after the energy producer was downgraded to “sell” from “buy” at Arbuthnot.

Citigroup Inc. ((C)), the diversified financial services holding company declined 1.5% or 6 cents to $3.90.

CONSOL Energy Inc. ((CNX)) declined 4.0% or $1.46 to $35.02 after the coal and natural gas company today announced that it has completed its acquisition of CNX Gas pursuant to a short-form merger in which CNX Gas became a wholly owned subsidiary of CONSOL. In connection with the merger, all public stockholders of CNX Gas, other than those who validly exercise appraisal rights, will receive $38.25 in cash for their shares.

eLong, Inc. ((LONG)) fell 3.2% or 39 cents to $11.72.

Fifth Third Bancorp ((FITB)), the lender fell 1.9% or 26 cents to $13.00.

Hewlett-Packard Company ((HPQ)), the personal-computer maker dropped 1.1% or 51 cents to $45.50.

Icahn Enterprises L.P. ((IEP)), the investment company rose 1.6% or 57 cents to $34.33.

Ryanair Holdings plc ((RYAAY)) gained 6.4% or $1.51 to $25.05 after the low-fares, scheduled passenger airline said fiscal year 2010 revenues rose 2% to €2.99 billion from €2.94 billion a year ago. Net profit for the year was €305.3 million or 20.60 cents per diluted share compared to net loss of €169.2 million or cents per share a year ago.

Transocean Ltd ((RIG)) declined 6.3% or $3.62 to $53.15.