U.S. Movers: Compellent, Dionex, GE, Exco

Mukesh Buch
13 Dec, 2010
New York City

Biglari Holdings fourth quarter revenues increased to $164.4 million. Dell Inc. to acquire Compellent Technologies, and will pay $27.75 per share. Thermo Fisher Scientific will acquire all of the outstanding shares of Dionex Corp. for $118.50 per share in cash, total purchase price $2.1 billion approximately.

[R]1:30 PM New York – Biglari Holdings fourth quarter revenues increased to $164.4 million. Dell Inc. to acquire Compellent Technologies, and will pay $27.75 per share. Thermo Fisher Scientific will acquire all of the outstanding shares of Dionex Corp. for $118.50 per share in cash, total purchase price $2.1 billion approximately.[/R]

Of the stocks in the Dow, 19 increased, 10 decreased and 1 were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, Pfizer Inc. led the gainers with a rise of 1.70% followed by increase in Caterpillar Inc. of 1.51%, in The Walt Disney Company of 1.45%, in Alcoa Inc. of 1.33%, in Chevron Corporation of 1.21%.

Hewlett-Packard Company led the decliners with a fall of 1.94%, followed by decline in Bank of America Corporation of 0.59%, in The Boeing Company of 0.59%, in Intel Corporation of 0.59%, in General Electric Company of 0.51%.

Other Movers

ACME Communications Inc. ((ACME.PK)) declined 1.9% or 2 cents to $1.00 after the operator of broadcast television stations reported third quarter net revenues increased 3% to $4.8 million for the quarter compared to net revenues of $4.7 million in the third quarter of 2009. Net loss for the quarter narrowed 259% to $390,000 or 2 cents per share compared to a net loss of $1.4 million or 9 cents per share a year ago.

Biglari Holdings Inc ((BH)) increased 1.5% or $6.63 to $430.11 after the diversified holding company reported fourth quarter revenues increased to $164.4 million from $160.4 million a year earlier. Net earnings in the quarter were $8.4 million or $6.26 per share compared to $3.4 million or $2.35 per share last year.

For the full year, revenues increased to $673.8 million from $628.7 million. Net earnings in the period surged to $28.1 million or $19.99 per share compared to $6.0 million or $4.20 per share the prior year.

Barnwell Industries, Inc. ((BRN)) rose 0.3% or 1 cent to $3.16 after the oil, natural gas fields developer reported fourth quarter revenues increased to $10.16 million from $0.76 million a year ago. Net earnings in the quarter were $0.08 million or 1 cent per diluted share compared to net loss of $0.45 million or 55 cents of per share a year ago.

For the full year, revenues soared to $41.87 million from $32.18 million a year ago. Net earnings were to $3.84 million or $0.46 per share compared to net loss of $24.36 million or $2.96 per share a year ago.

BCE Inc. ((BCE, BCE.TO)) fell 1% or 38 cents to $35.71 after the Canada-based communications services provider announced its annual common share dividend will increase 7.7% to C$1.97 per share, effective with the dividend for the first quarter of fiscal year 2011.

Compellent Technologies, Inc ((CML)) declined 3% or 88 cents to $27.83 after the network storage solution provider today entered into a definitive agreement for Dell Inc. ((DELL)).

Under terms approved by the boards of directors of both companies, Dell will pay $27.75 per share in cash for each share of Compellent for a total equity value of approximately $960 million, and aggregate purchase price of approximately $820 million.

Dionex Corporation ((DNEX)) surged 20.1% or $19.74 to $117.90 after the scientific instruments maker today announced that Thermo Fisher Scientific Inc. ((TMO)) will acquire all of the outstanding shares of Dionex for $118.50 per share in cash, or a total purchase price of approximately $2.1 billion. The transaction is not conditioned on financing and is expected to be completed in the first quarter of 2011.

Under the terms: The consideration represents a 21% premium to Dionex''s closing stock price on December 10. Thermo Fisher will financing from Barclays Capital and J.P. Morgan Securities LLC. The transaction, which is expected to be completed in the first quarter of 2011

General Electric Company ((GE)) declined 0.4% to $17.66 and the company bid to acquire UK based Wellstream Holdings Plc for $1.3 billion.

Exco Resources Inc ((XCO)) soared 3.2% to $19.10 after activist investors Wilbur Ross acquired 7.5% of the company and is looking the company to do strategic transactions that may involve asset sales or a merger.

Huntington Bancshares Inc ((HBAN)) declined 4.6% to $6.52 after the regional bank planned to sell shares of $920 million to repay $1.4 billion of U.S. Treasury.

Olin Corporation ((OLN)) fell 0.6% or 13 cents to $20.44 after the manufacturer of ammunition and chlorine and sodium hydroxide noted that its fourth-quarter 2010 results would contain around $30 million of pretax restructuring charges.

Technical Communications Corporation ((TCCO)) soared 9.3% or $1.35 to $15.75 after the communications security device and system maker reported fourth quarter revenues increased to $6.86 million from $1.76 million a year ago. Net income in the quarter was $3.18 million or $1.74 per diluted share compared to $2.35 million or $0.16 of per share a year ago.

For the full year, revenues soared to $21.55 million from $7.75 million a year ago. Net income in the period surged to $7.87 million or $4.68 per share compared to $9.43 million or $0.65 per share a year ago.

W.W. Grainger, Inc. ((GWW)) rose 0.3% or 44 cents to $134.11 after the business-to-business distributor reported that November sales increased 14% versus the prior year period. The company stated that the results for the month included a 2 percentage point contribution from acquisitions and a 1 percentage point contribution from foreign exchange.