Feb
26
Movers & Shakers: Tuesday’s biggest gaining and declining stocks
February 26, 2008 |
CollaGenex, Ford, Home Depot, LDK, Nordstrom
By MarketWatch
Last Update: 7:43 AM ET Feb 26, 2008
TEL AVIV (MarketWatch) — Among the companies whose shares are expected to see
active trade in Tuesday’s session are CollaGenex, Ford, Home Depot, LDK Solar,
Nordstrom and RadioShack.
Arbitron Inc. (ARB) expects 2008 earnings of $1.30 to $1.44 a share, compared
with its previous estimate of $1.42 to $1.56 a share. The New York media and
marketing research firm said it still expects full-year revenue growth of 8% to
10% from the year earlier’s revenue from continuing operations. Arbitron cited
the termination of proposed national research service Project Apollo as part of
the reason for the updated forecast.
CME Group Inc. (CME) and Nymex Holdings Inc. (NMX) agreed to extend the 30-day
exclusive negotiating period regarding CME’s potential acquisition of Nymex until
March 15. The negotiating period between the derivatives markets operators was
scheduled to close Thursday. The $10 billion deal is still subject to the
completion of due diligence, negotiation of terms of a definitive agreement and
approvals of both companies’ boards.
CollaGenex Pharmaceuticals Inc., (CGPI) the Newtown, Pa., drugmaker focused on
dermatology, definitively agreed to be acquired for $16.60 a share, or $420
million, cash by a unit of Galderma Pharma SA, the companies said on Tuesday.
Galderma was formed in 1981 as a dermatology-focused drugmaking venture of Nestle
(NSRGY) of Switzerland and L’Oreal of Paris. CollaGenex shares closed on Monday
at $12.80, indicating that Galderma is paying a 30% premium for the stock.
Donaldson Co. (DCI) fiscal second-quarter profit rose to $34.1 million, or 42
cents a share, from $31.3 million, or 38 cents a share, in the year-ago period.
Revenue at the maker of air and liquid filtration systems increased to $511.7
million from $463.7 million. Analysts had estimated profit of 42 cents a share on
revenue of $509.1 million.
Ford Motor Co., (F) the Dearborn, Mich., auto maker, is offering what rank among
the industry’s richest buyouts, conducting job fairs and providing explanatory
DVDs to encourage thousands of workers to leave, The New York Times reported.
Among the incentives for some workers are one-time cash payments of $140,000 or
college tuition for a family, the paper reported. Ford has 54,000 hourly workers,
and analysts say the company’s goal is 8,000 buyouts, the paper said. The move
reflects the car maker’s efforts to stem losses, the Times reported.
Home Depot (HD) reported that fourth-quarter net income fell a
sharper-than-expected 27% and the chief executive called the 2008 industry
outlook “challenging.”
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