Aegean Marine, Las Vegas Sands Rise; Kraft Falls

123jump.com Staff
05 Jan, 2010
New York City

Kraft and Cadbury declined after the revised offer from Kraft was rejected by the UK chocolate maker. Tenet Healthcare increased on a recommendation from a broker. China based casino operators increased on the hopes that China will relax travel rules. Aegean Marine surges after a deal.

[R]1:00 PM New York – Kraft and Cadbury declined after the revised offer from Kraft was rejected by the UK chocolate maker. Tenet Healthcare increased on a recommendation from a broker. China based casino operators increased on the hopes that China will relax travel rules. Aegean Marine surges after it acquired marine bunker fuel seller.[/R]

Of the stocks in S&P 500 index, 178 increased, 311 declined and 11 were unchanged.

IntercontinentalExchange, Inc led the decliners in the S&P 500 index with a loss of 4.3% followed by losses in Nicor Inc of 2.4% and in Salesforce.com, Inc of 1.9%, in The Charles Schwab Corporation of 1.8% and in Cabot Oil & Gas Corporation of 1.7%.

Tenet Healthcare Corporation led gainers in the S&P 500 index with a rise of 9.7% followed by gains in RadioShack Corporation 6.4%, in Southwest Airlines Co of 3.9% and in Capital One Financial Corporation of 3.3%.

Other Movers

Aegean Marine Petroleum Network Inc ((ANW)) surged 15% to $32.94 after it agreed to acquire Verbeke Bunkering NV that operates nine bunkering vessels and charters additional nine vessels and sells about 3.5 million tons of marine fuel in the Antwerp-Rotterdam-Amsterdam region.

Aluminum Corporation of China Limited ((ACH)) added 6.7% or $1.94 to $30.54.

Brightpoint, Inc ((CELL)) plunged 15.3% or $1.19 to $6.57 after the wholesaler of mobile phones said company expects to announce for the fourth quarter of 2009 income from continuing operations on a GAAP basis of approximately 22 cents to 26 cents per diluted share.

Cadbury plc ((CBY)) dropped 3.4% or $1.77 to $49.87 after the Dairy Milk chocolate maker rejected the revised $16 billion offer with a 20% higher cash component. Kraft offer is deemed at 756 pence per share but most investors and the company are looking for 800 pence a share.

Calavo Growers, Inc ((CVGW)) decreased 0.4% or 8 cents to $16.07 after the fresh avocados seller and processor said fourth quarter sales fell 13.6% to $80.9 million from $93.6 million a year ago. Net income in the quarter fell 42.5% to $2.3 million or 16 cents per diluted share compared to net income of $4.0 million or 28 cents per share a year ago.

Concho Resources Inc ((CXO)) fell 2.9% or $1.44 to $45.96 after the oil and natural-gas company was downgraded to “neutral” from “overweight” at JPMorgan Chase & Co.

Georgia Gulf Corporation ((GGC)) rose 2.6% or 47 cents to $18.50 after the maker of vinyl construction products was upgraded to “hold” from “underweight” at BB&T Capital Markets.

Las Vegas Sands Corp ((LVS)) the casino operator rose 7.5% or $1.26 to $17.88.

Merix Corporation ((MERX)) surged 22.8% or 53 cents to $2.85 after the manufacturer of printed circuit boards said second quarter sales fell 7.3% to $71.3 million from $76.9 million a year ago. Net income in the quarter was $464,000 or 2 cents per diluted share compared to net loss of $6.1 million or 29 cents per share a year ago.

RadioShack Corporation ((RSH)) increased 7.4% or $1.48 to $21.24 after the electronics chain was upgraded to “buy” from “neutral” and added to the “conviction list” at Goldman Sachs Group Inc.

Salesforce.com, Inc ((CRM)) fell 0.7% or 57 cents to $74.25 and the seller of Internet-based software for managing customer information garnered several industry awards.

Tenet Healthcare Corporation ((THC)) surged 9.2% or 51 cents to $5.97 after the hospital chain was added to Goldman Sachs Group Inc.’s “conviction buy” list.