ICx, Intellicheck Rise; YRC Worldwide Falls

Mayank Mehta
31 Dec, 2009
New York City

YRC Worldwide reached a last minute agreement with its bond holders that will dilute shareholders more than expected. Scanning and detection security systems providers surged for the second day in a row on the hopes of higher sales after a failed terrorist attempt.

[R]12:10 PM New York – YRC Worldwide reached a last minute agreement with its bond holders that will dilute shareholders more than expected. Scanning and detection security systems providers surged for the second day in a row on the hopes of higher sales after a failed terrorist attempt.[/R]

Of the stocks in S&P 500 index, 265 increased, 216 declined and 19 were unchanged.

Regions Financial Corporation led the decliners in the S&P 500 index with a loss of 2% followed by losses in FedEx Corporation of 1.2% and in The New York Times Company of 0.8%, in Carnival Corporation of 0.7% and in Huntington Bancshares Incorporated of 0.6%.

The Interpublic Group of Companies, Inc led gainers in the S&P 500 index with a rise of 4.1% followed by gains in Micron Technology, Inc 1.7%, in Novell, Inc of 1.6% and in Titanium Metals Corporation of 1.6%.

Other Movers

Biodel Inc ((BIOD)) increased 9.2% to $4.51 after the company requested an approval for its insulin for the treatment of diabetes.

Carnival Corporation ((CCL)) the cruise operator dropped 0.3% or 10 cents to $32.00.

China Valves Technologies Inc ((CVVT)) dropped 6.1% to $9.35 after it agreed to sell 2.41 million shares at $9 each to raise $21.7 million. The direct offering was priced at 11% discount to the yesterday’s closing price.

FedEx Corporation ((FDX)) the parcel delivery company fell 1.4% or $1.26 to $83.91.

ICx Technologies, Inc ((ICXT)) increased 12.7% or $1.07 to $9.60, the second day jump of more than ten percent. The security systems providers have surged after a failed terrorist attempt on a flight bond to Detroit from Amsterdam on Dec 25.

Intellicheck Mobilisa Inc ((IDN)) surged 73% to $4.14 on the expectations that the company will receive new orders for its scanning devices used to check if the passenger is on a security watch list. The scanners made by the company currently checks 140 lists and have a capacity to expand to 1,000.

The Interpublic Group of Companies, Inc ((IPG)) an advertising agency added 3% or 22 cents to $7.50.

Kforce Inc ((KFRC)) the recruitment firm decreased 0.2% or 3 cents to $12.67.

Micron Technology, Inc ((MU)) the semiconductor maker advanced 0.7% or 8 cents to $10.72.

Marvell Technology Group Ltd ((MRVL)) increased 0.2% or 5 cents to $20.88 after the maker of chips for computers and mobile phones was upgraded to “buy” from “hold” at Kaufman Brothers LP.

The New York Times Company ((NYT)) the media group fell 1.9% or 25 cents to $12.38.

Novell, Inc ((NOVL)) climbed 2.1% or 8 cents to $4.22.

Nvidia Corporation ((NVDA)) rose 0.8% or 16 cents to $18.83 after the maker of graphics chips was upgraded to “buy” from “hold” at Kaufman Brothers LP.

Quixote Corp ((QUIX)) soared 114% to $6.33 after it agreed to be acquired by Trinity Industries Inc for $61 million or $6.38 a share. The company makes highway transportation safety products and had sales of $94 million and a loss of $11.1 million in the fiscal year ending in June 2009.

Regions Financial Corporation ((RF)) decreased 0.9% or 5 cents to $5.27 and the financial company said that it has exceeded its goal of opening one million new checking accounts for consumers and small businesses in 2009.

Trico Marine Services, Inc ((TRMA)) rose 1.7% or 8 cents to $4.77 and a day ago the drilling equipment services provider took a charge and said that the current quarter sales are impacted by lower demand.

YRC Worldwide Inc ((YRCW)) plunged 12% to 87 cents and the company reached last minute agreement with its bond holders that will delay certain payment and dilute shareholders. Other trucking companies in the industry also declined with losses of more than 7% at Old Dominion Freight Lines Inc and Con-Way Inc.