Ctrip, Lincare Decline; Netflix, GE Gain

Mayank Mehta
06 Jul, 2010
New York City

Ctrip.com International Ltd. led the decliners in the S&P 500 index with a loss of 12.8%. Brown & Brown acquires assets of Meridian Group of New York. Fidelity National affirms outlook and raises new debt. GE contracts for Salalah Independent Water & Power Project totaling nearly $300 million.

[R]11:00 AM New York - Ctrip.com International Ltd. led the decliners in the S&P 500 index with a loss of 12.8%. Brown & Brown acquires assets of Meridian Group of New York. Fidelity National affirms outlook and raises new debt. GE contracts for Salalah Independent Water & Power Project totaling nearly $300 million.[/R]

Ctrip.com International Ltd. led the decliners in the S&P 500 index with a loss of 12.8% followed by losses in China Wireless Technologies Ltd. of 13.0% and in Dalian Port PDA Co. Ltd. of 10.9%, and in Boart Longyear Group of 10.5% and in Lincare Holdings Inc. of 3.3%.

Allied Irish Banks, Plc led gainers in the S&P 500 index with a rise of 8.2% followed by gains in E-House (China) Holdings Limited of 7.2%, in Yanzhou Coal Mining Company Limited of 7.1% and in Hitachi, Ltd. of 7.0% and in Alaska Air Group, Inc. of 6.8%.

Other Movers

Aeropostale, Inc. ((ARO)) rose 0.7% or 22 cents to $30.15 after the clothing retailer may rise to as high as $50 as it gains market share by focusing on preteen kids, Barron’s reported.

Brown & Brown, Inc. ((BRO)) added 0.3% or 7 cents to $18.97 after the insurer said the subsidiary has acquired assets of the Meridian Group of New York.

Coventry Health Care, Inc. ((CVH)) fell 1.5% or 27 cents to $17.23 after the managed health-care company may rise as it expands through acquisitions and raises prices on its policies, Barron’s reported.

Clean Energy Fuels Corp. ((CLNE)) rose 0.2% or 3 cents to $14.50 after the builder and operator of natural gas filling stations for vehicle fleets and IMW Industries, Ltd. signed an agreement to acquire IMW for a consideration of $125 million plus a cash earn-out arrangement.

General Electric Company ((GE)) added 1.7% or 24 cents to $14.12 after the maker of jet engines, power- generation equipment and locomotives received contracts totaling nearly $300 million to provide advanced gas turbines and long-term services for the Salalah Independent Water & Power Project, which will help support Dhofar region of southern Oman.

Leap Wireless International, Inc. ((LEAP)) rose 0.1% or 2 cents to $12.19 after the provider of mobile wireless services said a U.S. district court approved a proposed settlement of two shareholder derivatives suits, according to a filing with the Securities and Exchange Commission.

Micron Technology, Inc. ((MU)) rose 3.8% or 32 cents to $8.54 after the chipmaker introduced its third-generation reduced latency DRAM that enables a more efficient transfer of information across the network.

Netflix, Inc. ((NFLX)) advanced 2.2% or $2.42 to $109.50 after the online movie rental service and Relativity Media, LLC today announced a long-term agreement through which major theatrically released films owned by Relativity will be licensed directly and exclusively to Netflix for streaming to its subscribers during the ""pay TV window.""

Par Pharmaceutical Companies, Inc. ((PRX)) rose 0.6% or 16 cents to $26.25 after the company today announced that it began shipping the 20mg/1100mg and 40mg/1100mg strengths of omeprazole and sodium bicarbonate capsules to the trade.

Petroleo Brasileiro S.A ((PBR)) rose 1.4% or 49 cents to $34.12 after the American depositary receipts of Brazil’s state-controlled oil producer may rise to $50 or higher as investors focus more on the company’s growing output than on concern about increased government control, Barron’s reported.