Brocade, Manitowoc, Vimpel and PetSmart Rise

Mayank Mehta
05 Oct, 2009
New York City

Boston Scientific declined after it reached settlement agreement with a subsidiary of Johnson & Johnson. Blackstone Group is interested in acquiring theme park business of Anheuser-Busch InBev NV. Brocade Communications surged after the company is looking for a buyer.

[R]12:30 PM New York – Boston Scientific declined after it reached settlement agreement with a subsidiary of Johnson & Johnson. Blackstone Group is interested in acquiring theme park business of Anheuser-Busch InBev NV. Brocade Communications surged after the company is looking for a buyer.[/R]

Of the stocks in S&P 500 index, 361 increased, 136 declined and 3 were unchanged.

Boston Scientific Corporation led the decliners in the S&P 500 index with a loss of 1.9% followed by losses in CareFusion Corporation of 1.9%, in Tyson Foods, Inc of 1.5%, in Avon Products, Inc of 1.4% and in Hormel Foods Corporation of 1.3%.

Convergys Corporation led gainers in the S&P 500 index with a rise of 7.5% followed by gains in Eastman Kodak Company 5.8%, in Nordstrom, Inc of 5.7% and in Macy''s, Inc of 5.2%.

Other Movers

Allos Therapeutics, Inc ((ALTH)) closed unchanged at $6.94 after the developer of cancer-fighting medicines today announced that Folotyn is now available for commercial sale in the United States. The U.S. Food and Drug Administration granted accelerated approval for FOLOTYN for use as a single agent for the treatment of patients with relapsed or refractory peripheral T-cell lymphoma on September 24, 2009.

The Blackstone Group L.P ((BX)) increased 1.7% or 24 cents to $13.69 after the Wall Street Journal reported that the private equity group is nearing a roughly $2.5 to $3 billion acquisition of Anheuser-Busch InBev''s theme parks according to people familiar with the situation.

Boston Scientific Corporation ((BSX)) decreased 1.7% or 17 cents to $9.84 after the marketer of medical devices said the subsidiary of Johnson & Johnson, has recently reached a settlement agreement with the company.

Brocade Communications Systems, Inc ((BRCD)) the maker of switches for data- storage networks surged 17.3% or $1.33 to $8.98 on the media reports that the company is looking for a buyer.

Endo Pharmaceuticals Holdings Inc ((ENDP)) rose 5.9% or $1.32 to $23.43 after the drugmaker was upgraded to “outperform” from “market perform” at Oppenheimer & Co.

General Dynamics Corporation ((GD)) added 1.7% or $1.10 to $64.18 after the defense contractor was upgraded to “overweight” from “equal weight” at Morgan Stanley.

The Manitowoc Company, Inc ((MTW)) advanced 12.0% or 98 cents to $9.14 after the division that makes food-service equipment was upgraded to “buy” from “hold” at Deutsche Bank AG.

PetSmart, Inc ((PETM)) rose 4.1% or 89 cents to $21.73 after the pet-store chain was upgraded to “buy” from “neutral” at Janney Montgomery Scott.

RPM International Inc ((RPM)) added 2.4% or 45 cents to $18.53 after the maker of specialty chemical product lines reported first quarter sales fell 7% to $916 million from $985.5 million a year ago. Net income in the quarter rose 5% to $73 million or 57 cents per diluted share compared to net income of $69.5 million or 53 cents per share a year ago.

SciClone Pharmaceuticals, Inc ((SCLN)) plunged 16.8% or 66 cents to $3.49 after the drugmaker today announced the discontinuation of the investigational treatments of late-stage pancreatic cancer.

Seattle Genetics, Inc ((SGEN)) decreased 16.4% or $2.16 to $11.00 after the maker of agriculture chemicals was upgraded to “outperform” from “neutral” at Credit Suisse Group AG.

Valero Energy Corporation ((VLO)) rose 0.8% or 17 cents to $18.79 after the refiner was downgraded to “sell” from “hold” at Deutsche Bank.

Vimpel-Communications ((VIP)) increased 8.6% or $1.55 to $19.48 and two largest shareholders Altimo and Telenor ASA plan to list its holding in Vimpel and ZAT Kyivstar under a new company on the New York Stock Exchange.