Visa, XTO Energy Rise; Oshkosh Falls

Mayank Mehta
14 Dec, 2009
New York City

Citigroup declined after it plans to raise $20 billion and repay TARP funds. XTO Energy surges on an acquisition offer from Exxon Mobil. Oshkosh Corp declines 13%. Visa Inc increases after the company was selected for the S&P 500 index.

[R]1:00 PM New York – Citigroup declined after it plans to raise $20 billion and repay TARP funds. XTO Energy surges on an acquisition offer from Exxon Mobil. Oshkosh Corp declines 13%. Visa Inc increases after the company was selected for the S&P 500 index.[/R]

Of the stocks in S&P 500 index, 398 increased, 91 declined and 11 were unchanged.

MBIA Inc led the decliners in the S&P 500 index with a loss of 5.1% followed by losses in Citigroup Inc of 4.3% and in Motorola, Inc of 3.6%, in Convergys Corporation of 3.5% and in Exxon Mobil Corporation of 3.0%.

XTO Energy Inc led gainers in the S&P 500 index with a rise of 16.7% followed by gains in Sun Microsystems, Inc 8.6%, in Range Resources Corporation of 8.5% and in Cabot Oil & Gas Corporation of 6.7%.

Other Movers

Amazon.com, Inc ((AMZN)) decreased 2.9% or $3.95 to $130.21 after the Internet retailer today announced that Kindle for iPhone application.

Brookdale Senior Living Inc ((BKD)) added 5.6% or 97 cents to $18.30 after the operator of assisted living homes for seniors was upgraded “conviction buy-list” at Goldman Sachs.

China Petroleum & Chemical Corporation ((SNP)) advanced 5.8% or $4.87 to $87.82.

Citigroup Inc ((C)) fell 4.7% or 19 cents to $3.76 the bank to issue $17 billion of common stock and $3.5 billion of Tangible Equity Units to repay $20 billion of TARP Trust Preferred Securities. Citibank is the last large bank to repay the government.

GTx, Inc ((GTXI)) dropped 3.8% or 15 cents to $3.74 and the biopharmaceutical company said a reduction in force reflecting the delay in the potential commercialization of toremifene 80 mg to reduce fractures in men with prostate cancer on androgen deprivation therapy.

Hansen Medical, Inc ((HNSN)) surged 10.1% or 28 cents to $2.96 after the maker of medical robotics said that it has entered into a settlement with Luna Innovations Incorporated and its wholly-owned subsidiary, Luna Technologies, Inc.

Luna Innovation soared 83.6% to $2.70.

ImmunoGen, Inc ((IMGN)) dropped 3.8% or 34 cents to $8.43 after the maker of anticancer drugs presented positive trastuzumab-DM1 (T-DM1) clinical data at the 32nd Annual San Antonio Breast Cancer Symposium.

Invesco Ltd ((IVZ)) an independent global investment management company increased 2.1% or 46 cents to $21.93.

Oshkosh Corp ((OSK)) dropped 13% to $35.65 after the Government Accountability Office agreed with the issues raised by BAE Systems and Navistar International Corp about the armored vehicle production $3 billion contract with the company.

Philip Morris International Inc ((PM)) rose 3.5% or $1.70 to $50.18 after the tobacco company was added to Goldman “conviction buy list.”

Sun Microsystems, Inc ((JAVA)) gained 9.2% or 78 cents to $9.14 after Oracle Corp made a revised proposal to acquire the company that meets the European Union regulatory requirements.

Terra Industries Inc ((TRA)) dropped 1.4% or 56 cents to $34.74 after the nitrogen-fertilizer producer rejected CF Industries Holdings, Inc.’s latest proposal to acquire Terra for $29.25 per share in cash plus 0.1034 of a share of its stock and said that it undervalue the company.

Vail Resorts, Inc ((MTN)) the ski resort operator fell 0.08% or 3 cents to $38.51.

Visa Inc ((V)) increased 2.7% to $84 after the company was chosen to be added to the S&P 500 index.

XTO Energy Inc ((XTO)) surged 15.6% or $6.47 to $47.94 after Exxon Mobil agreed to acquire the company for $31 billion or $51 a share. The largest natural gas producer is active in the extraction of natural gas from shale formations in Texas, North Dakota and region spread between Pennsylvania, New York and West Virginia.