Friday, September 29, 2006
A second study of Corcept Therapeutics Inc.'s depression treatment Corlux failed. The first study failed a month ago. Shares of the pharmaceutical company tumbled 38 cents to close at 93 cents.
Alpharma Reports Positive Test Results
Alpharma Inc. (ALO) reported positive results for a midstage clinical trial of its non-addictive opioid pain treatment sending its stock price up $1.79 to close at $23.39.
Corel Swings To Profit
Corel Corp. (CREL) swung to a third quarter profit of 22 cents per share from losses of 15 cents per share in the year ago period. The stock price climbed $1.52 to close at $12.87.
American Vanguard Lowers Outlook
American Vanguard Corp. (AVD) lowered its 2006 income outlook due to increased operating expenses and higher interest and tax rates. The stock price plunged $2.33 to close at $14.00.
Higher Profit For Global Payments
Global Payments Inc. (GPN) posted higher profits on rising sales and raised its guidance due to demand for its credit card processing services. The stock price jumped $5.07 to close at $44.01.
RIM Surges On Growth
Research in Motion Ltd. (RIMM), maker of Blackberry communication devices, reported explosive growth sending the stock price leaping $16.59 to close at $102.65.
Thursday, September 28, 2006
Talk America Receives Competing Offer
Talk America Holdings Inc. (TALK) received a higher purchase price offer from Sun Capital after already agreeing to be acquired by Cavalier Telephone. The stock price jumped $1.03 to close at $9.35.
Energy Conversion Offers New Incentive Plan
Energy Conversion Devices, Inc. (ENER) will offer a new stock incentive program sending the stock price surging $5.17 to close at $38.87.
Novatel Faces New Competition
Novatel Wireless Inc. (NVTL) shares retreated on word that Nokia and Intel entered a partnership to create cellular connectivity technologies for notebook computers. The stock price plunged $2.07 to close at $9.64.
TVIA Expects Lower Revenue
TVIA Inc. (TVIA) expected sharply lower revenues for the current quarter due to competitive pricing pressures for its digital display processors used in flat panel TVs. The stock price plummeted $2.06 to close at $1.44.
Resources Connection Raises Outlook
Resources Connection Inc. (RECN) reported lower profits, but raised long-term guidance for its accounting services sending the stock price surging $3.27 to close at $27.02.
Align Settles Dispute
Align Technology Inc. (ALGN) investors embraced news that the company has settled a dispute with rival OrthoClear over invisible dental braces. The stock price leaped $3.76 to close at $11.56.
Wednesday, September 27, 2006
Buy Out Rumor Lifts Western Digital
Rumors of a potential buy out offer lifted shares of Western Digital Corp. (WDC) $1.10 to close at $18.07.
Molecular Devices Lowers Guidance
Molecular Devices Corp. (MDCC) lowered its third quarter guidance due to slow drug-discovery sales sending the stock price tumbling $3.81 to close at $18.03.
Earnings Rise For H.B. Fuller
HB Fuller Co. (FUL), maker of paints and adhesives, posted sharply higher profits of 40 cents per share compared with 26 cents per share in the year ago period and raised guidance sending the stock price soaring $4.77 to close at $25.12.
Profits Lower For Red Hat
Red Hat Inc. (RHAT) posted lower profits which prompted analyst downgrades sending shares of the open source software maker to plummet $6.11 to close at $20.21.
First Marblehead To Receive $173 Million In Fees
First Marblehead Corp. (FMD), a private education financing and outsourcing services provider, expects to receive $173 million in advisory fees from national Collegiate Student Loan Trust. The stock price surged $2.98 to close at $68.98.
Merck Buys Stake In Foxhollow
Foxhollow Technologies Inc. (FOXH) expanded its relationship with Merck & Co. (MRK) and sold an 11% stake for $95 million. Shares of Foxhollow leaped $5.55 to close at $32.80 while Merck stock edged up 64 cents to $42.40.
Tuesday, September 26, 2006
Avid Trims Forecast
Avid Technology Inc. (AVID) trimmed its third quarter forecast sending the stock price plunging $6.28 to close at $37.59.
Millennium To Buy AnorMed
Millennium Pharmaceuticals Inc. (MLNM) will pay $525 million in cash to acquire AnorMed Inc. (ANOR). Shares of Millennium held steady to close at $10.15 while AnorMed stock leaped $2.79 to close at $12.74.
Career Education's President Resigns
Career Education Corp. (CECO) announced the resignation of president and chief executve John M. Larson lifting the stock price $3.05 to close at $24.20.
Merix Cuts Outlook
Merix Corp. (MERX), a circuit board maker, cut its quarterly earnings outlook due to higher copper costs in Asia. The stock price plunged $3.76 to close at $10.29.
Advanced Medical Lowers Guidance
Advanced Medical Optics Inc. (EYE) lowered its year-end guidance due to weak demand for its laser vision correction products. The stock price plummeted $7.55 to close at $38.75.
Reliance Steel Raises Forecast
Reliance Steel & Aluminum Co. (RS) raised its third quarter forecast sending the stock price surging $3.84 to close at $33.06.
Monday, September 25, 2006
Earnings Rise For JGL
JGL Industries Inc. (JLG) beat expectations by 3 cents to report fourth quarter earnings of 45 cents per share compared with 35 cents per share in the year ago period. The stock price climbed $1.35 to close at $19.02.
Class Action Status Granted To Tobacco Suit
Shares of Altria Group Inc. (MO) plunged after a federal judge granted class action status to a lawsuit against tobacco companies for their marketing of light cigarettes as a safer alternative to regular cigarettes. Altria stock plummeted $5.26 to close at $77.06.
Spectrum Reports Positive Test Results
Spectrum Pharmaceuticals Inc. (SPPI) reported positive clinical trial data from its late stage study of the prostate cancer drug Satraplatin. The stock price surged $1.59 to close at $5.08.
Chiquita Suspends Dividend
Chiquita Brands International Inc. (CQB) blamed the spinach E. coli outbreak for suspending its dividend and for possibly hurting third quarter results. The stock price dropped $2.20 to close at $13.53.
Superior Energy To Buy Warrior Energy
Warrior Energy Services Corp. (WARR) will be acquired by Superior Energy Services Inc. (SPN) for approximately $358 million. Shares of Warrior Energy leaped $9.88 to close at $24.22 while Superior Energy stock tumbled $2.83 to close at $23.35.
Positive Test Results For Acorda
Acorda Therapeutics Inc. (ACOR) reported significant improvement in the walking ability of multiple sclerosis patients in its late stage clinical trial of Fampridine. The stock price jumped $6.28 to close at $8.50.
Friday, September 22, 2006
Cavalier To Buy Talk America
Privately held Cavalier Telephone & TV will acquire Talk America Holdings Inc. (TALK)for approximately $251 million. Shares of Talk America surged $1.63 to close at $8.20.
Boston Scientific Warns Of Slow Sales
Shares of Angiotech Pharmaceuticals Inc. (ANPI) plunged $1.17 to close at $9.30 after Boston Scientific Corp. (BSX) warned of slowing sales of its drug coated stents. Angiotech supplies Boston Scientific with the drug coating. Boston Scientific stock tumbled $1.51 to close at $14.85.
Tribune May Sell Itself
Tribune Co. (TRB) is exploring strategic options including selling itself. The stock price gained $1.94 to close at $33.99.
Advanced Analogic Downgraded
Analysts downgraded Advanced Analogic Technologies Inc. (AATI) after the chip maker cut its third quarter forecast. The stock price plummeted $1.56 to $5.54.
China Development In Compliance
China Technology Development Group Corp. (CTDC) is once again in compliance to be listed on Nasdaq. The stock price rose $1.19 to $4.34.
Thursday, September 21, 2006
InfoSpace Loses Customer
InfoSpace Inc. (INSP) shares plunged $4.93 to close at $17.68. The seller of content for mobile phones lost a wireless carrier as a customer for ringtones and said sales will be hurt.
Riverbed Soars In IPO
Riverbed Technology stock surged $5.55 to close at $15.30 on its first day of trading.
Wal-Mart Will Sell Generic Drugs
Shares of Walgreen tumbled $3.67 to close at $46.28 after Wal-Mart announced it will begin selling generic drugs for $4 each prescription. Shares of Wal-Mart eased 41 cents to close at $48.46.
Lear Slashes Sales Forecast
Lear Corp. (LEA) slashed its sales forecast as automakers cut production. The stock price lost $1.77 to close at $18.61.
Gymboree Lifts Forecast
Better than expected September sales prompted Gymboree Corp. (GYMB) to lift third quarter as well as full year earnings. The stock price jumped $4.81 to close at $42.78.
Herman Miller's Forecast Impresses
Herman Miller Inc. (MLHR) forecast second quarter results above analyst expectations sending the stock price soaring $4.20 to close at $33.40.
Wednesday, September 20, 2006
Eclipsys Lands Contract
Eclipsys Corp. (ECLP) landed a contract with University Hospitals. The stock price rose $1.72 to close at $18.76.
Chairman Buys Shares Of Eagle Materials
Shares of Eagle Materials Inc. (EXP) surged $4.27 to close at $38.43 after chairman Laurence Hirsch purchased $14.1 million worth of company stock.
Coal Prices Pull Down Arch Coal
Falling coal prices weighed on producers like Arch Coal Inc. (ACI) whose shares tumbled $1.37 to close at a 52-week low of $26.45.
Earnings Rise For CarMax
CarMax Inc. (KMX) said in a statement that fiscal second-quarter profit, excluding some items, increased to 46 cents a share from 35 cents a year earlier. Shares of the fourth-biggest U.S. auto dealer soared $3.16 to close at $43.30.
Morgan Stanley Beats Estimates
Morgan Stanley (MS), the world's biggest securities firm by market value, said third-quarter profit rose more than analyst estimates because of gains in bond and commodities trading and higher revenue from brokers. Per- share earnings increased to $1.75 from 13 cents, beating the $1.37 average estimate in a survey of 18 analysts by Thomson. The stock price rose 50 cents to close at $72.35.
Oracle Profit Climbs
Oracle Corp. (ORCL) increased Q1 profits to 13 cents a share from 10 cents a year earlier on higher sales of business-management programs and database products. The stock price climbed $1.80 to close at $17.93.
Tuesday, September 19, 2006
Pengrowth To Buy Carson Creek Properties
Pengrowth Energy Trust (PGH) will purchase Exxon Mobil Corp.'s (XOM) Carson Creek properties for approximately $424 million. Shares of Pengrowth dropped $1.15 to close at $19.99 while Exxon Mobile stock eased 80 cents to close at $65.50.
Analyst Approve Of Talbots Fall Line
Analysts issued upbeat notes on Talbots Inc. (TLB) for its new merchandise and marketing campaign. Shares of the retailer climbed $1.35 to close at $25.65.
Summit To Be Acquired By UCBH
Summit Bank Corp. (SBGA) was acquired by UCBH Holdings Inc. (UCBH) for $175 million in cash and stock. Shares of Summit jumped $6.28 to close at $22.38 while UCBH stock lost 54 cents to close at $17.51.
Google Falls On Yahoo's Warning
Shares of Google Inc. (GOOG) plunged $10.88 to close at $403.81 after Yahoo warned of slowing ad revenue.
Yahoo Warns Ad Revenue Slowing
Yahoo Inc. (YHOO) warned that slowing ad revenue will weigh down third quarter results. The stock price plunged $3.25 to close at $25.75.
Higher Earnings For FactSet Research
FactSet Research Systems Inc. (FDS) reported higher earnings and forecast first quarter results ahead of estimates lifting the stock price $2.45 to close at $48.10.
Monday, September 18, 2006
Nasdaq Delists Global Epoint
Nasdaq will remove Global Epoint Inc. (GEPT) from its exchange on September 19 sending shares of the digital video surveillance system company tumbling 31 cents to close at 75 cents.
Freescale To Be Acquired
Freescale Semiconductor Inc. (FSL) will be purchased for $17.6 billion cash by a private equity group. The stock price soared $2.10 to close at $39.26.
Earnings Rise For Somanetics
Somanetics Corp. (SMTS) posted higher revenues and earnings due to strong cardiac equipment sales. The stock price climbed $1.19 to close at $21.45.
Gevity Lowers Outlook
Gevity HR Inc. (GVHR) lowered its outlook due to slower than expected demand in the job market. Shares of the management consulting services firm plummeted $3.31 to close at $20.92.
Aftermarket Cuts Outlook
Aftermarket Technology Corp. (ATAC) posted a loss and cut its 3rd quarter guidance due to sluggish logistics business. The stock price plunged $3.19 to close at $17.98.
Watson Wyatt Downgraded
Analysts cited valuation concerns for downgrading Watson Wyatt Worldwide Inc. (WW) and lowering the price target for the human resources consulting services firm. The stock price lost 71 cents to close at $39.98.
Smithfield To Buy Premium Standard
Premium Standard Farms Inc. (PORK) will be acquired by Smithfield Foods Inc. (SFD) in a cash and stock deal worth approximately $674 million. Shares of Premium Standard jumped $2.26 to close at $19.99 while Smithfield stock tumbled $1.02 to close at $28.22.
Friday, September 15, 2006
Ford Cuts More Jobs
Ford Motor Co. (F) announced a plan to slash jobs and close plants, but investors wondered if the moves were sufficient. Shares of the nation's second largest automaker tumbled $1.07 to close at $8.02.
First Marblehead Sees Higher Fees
First Marblehead Corp. (FMD) expects to collect higher fees than analysts had estimated. The stock price jumped $9.10 to close at $61.45.
ICE To Buy NYBOT
InterContinentalExchange Inc. (ICE) will acquire New York Board of Trade in a cash and stock deal worth nearly $1 billion. ICE stock leaped $9.72 to close at $74.35.
Cygne Swings To Profit
Cygne Designs Inc. (CYDS) swung to a second quarter profit of 9 cents per share from a loss of 3 cents per share in the year ago period. The stock price surged $1.16 to close at $4.36.
Thursday, September 14, 2006
IAMGOLD To Buy Cambior
Canada's IAMGOLD Corp. (IAG) will acquire another Canadian mine company, Cambior, for $1.3 billion in stock. The stock price plunged $1.32 to close at $8.93.
Applica Receives Buyout Offer
Applica Inc. (APN) received a buyout offer from its biggest shareholder which lifted its stock price $1.19 to close at $5.75.
Kendle Trims Outlook
Although Kendle International Inc. (KNDL) trimmed its 2006 outlook, the forecast was still above expectations. Shares of the research organization leaped $5.40 to close at $30.20.
Jim Cramer Spotlights Hansen Natural
Hansen Natural Corp. (HANS) was mentioned by Jim Cramer's Mad Money. The stock price surged $3.62 to close at $33.38.
XM Satellite Upgraded
XM Satellite Radio Holdings Inc. (XMSR) was upgraded by analysts which lifted the stock price $1.18 to close at $13.69.
Pilgrim's Pride Introduces Healthy Products
Pilgrim's Pride Corp. (PPC) introduced a new line of healthy baked chicken products that are certified by the American Heart Association's "health-check mark" seal of approval. The stock price surged $2.45 to close at $27.30.
Wednesday, September 13, 2006
International Coal Cuts Guidance
International Coal Group Inc. (ICO) lowered its guidance for the rest of the year after cutting production plans sending the stock price down 75 cents to close at $4.78.
Lehman Bros. Beats Estimates
Lehman Brothers Holdings Inc. (LEH) posted higher profits that beat estimates due to demand for merger and IPO services. The stock price rose $2.04 to close at $70.06.
Napco Security Earnings Fall Short
Although fiscal 2006 earnings for Napco Security rose to 30 cents per share from 28 cents per share a year earlier, the results fell 7 cents short of expectations sending the stock price plunging $1.30 to close at $6.21.
Cardiome Reports Trial Results
Shares of Cardiome Pharma Corp. (CRME) tumbled $1.51 to close at $11.80 after announcing that a mid-stage clinical trial of the company's irregular heartbeat medication indicated that a lower 300 mg dose was more effective than a 600 mg dose.
Earnings Jump For RF Industries
Third quarter earnings jumped to 11 cents per share from 5 cents per share in the year ago period for RF Industries Ltd. (RFIL). The stock price leaped $3.00 to close at $8.64.
Apple Launches Online Movie Store
Apple Computer Inc. (AAPL) launched its online movie store and unveiled updates to its iPod digital music player sending shares up $1.57 to close at $74.20.
Tuesday, September 12, 2006
Sales Surge For Comverse
Second quarter sales surged for Comverse Technology Inc. (CMVT) lifting the stock price $1.68 to close at $22.20.
Plum Creek Downgraded
Weak demand for timber prompted Morgan Stanley to downgrade Plum Creek Timber Co. Inc. (PCL) sending the stock price down 79 cents to close at $33.51.
Earnings Rise For Best Buy
Best Buy Co. Inc. (BBY) reported higher earnings that beat expectations due to brisk sales of high definition televisions. Shares of the nation's largest consumer electronics retailer surged $4.37 to close at $52.14.
Mobile Gambling For FortuNet
FortuNet Inc. (FNET) was among the day's big gainers as investors viewed its mobile gambling prospects favorably. The stock price leaped $5.87 to close at $15.77.
Profit Rises For Kroger
Kroger Co. (KR) posted higher sales and profits while reaffirming guidance for the rest of the year as the nation's largest grocery chain. The stock price dropped $1.33 to close at $22.75.
Bally Reports Loss
Bally Total Fitness Holding Corp. (BFT) posted a quarterly loss and warned that it may default on some debt. Shares of the operator of fitness centers tumbled 47 cents to close at $2.22.
Monday, September 11, 2006
Newell Rubbermaid Sells Toy Unit
Newell Rubbermaid Inc. (NWL) will sell its Little Tikes toy unit to MGA Entertainment. Newell Rubbermaid stock rose $1.64 to close at $28.64.
Scottish Re Receives Bids
Several potential suitors made preliminary bids for Scottish Re Group Ltd. (SCT) lifting the stock price $1.12 to close at $10.43.
Possible Sale Of Freescale
Freescale Semiconductor Inc. (FSL) confirmed that it is in talks for a possible sale sending the stock price soaring $6.31 to close at $37.06.
Record Revenue For Angeion
Angeion Corp. (ANGN) shares more than doubled to close at $8.71 after reporting record revenues and another profitable quarter due to brisk cardiorespiratory diagnostic business.
Ipsco To Acquire NS Group
Canadian Steelmaker Ipsco Inc. (IPS) announced a $1.46 billion cash deal to buy oil-field pipe maker NS Group Inc. (NSS). Shares of NS Group leaped $18.16 to close at $64.31 while Ipsco stock plunged $6.00 to close at $87.20.
NutriSystem Makes Global Challengers List
NutriSystem Inc. (NTRI) made the top of Standard & Poor's Global Challengers List of fast growing midsize companies. The stock price jumped $4.41 to close at $57.40.
Friday, September 08, 2006
Lower Margins For Shuffle Master
Shuffle Master Inc. (SHFL) reported weak earnings due to lower margins for its casino card and chip sorting machines. The stock price plunged $2.67 to close at $24.26.
Quiksilver Cuts Forecast
Quiksilver Inc. (ZQK) blamed weak sales for third quarter earnings that dropped to 4 cents per share from 20 cents per share a year earlier prompting the company to cut its forecast. The stock price tumbled $1.47 to close at $12.17.
AirTran Lowers Forecast
AirTran Holdings Inc. (AAI) lowered its 3rd quarter growth forecast. Shares of the air transportation services company tumbled $1.19 to close at $9.48.
Earnings Rise For Volt
While earnings rose for Volt Information Sciences Inc. (VOL) to 53 cents per share from 32 cents per share a year earlier, operating profit slipped at two divisions sending the stock price plunging $6.15 to close at $34.66.
Earnings Rise For Smith & Wesson
First quarter earnings for Smith & Wesson Holding Corp. (SWHC)rose to 8 cents per share from 7 cents per share in the year ago period. Shares of the firearms maker gained 81 cents to close at $10.77.
TriPath To Be Acquired
TriPath Imaging Inc. (TPTH) is to be acquired by Becton, Dickenson and Co. for approximately $350 million. The stock price climbed 80 cents to close at $9.04.
Thursday, September 07, 2006
Palm Lowers Guidance
Palm Inc. (PALM) lowered its revenue guidance due to a decline in Treo smartphone shipments sending the stock price down $1.22 to close at $14.31.
Embarcadero Tech To Be Acquired
Embarcadero Technologies Inc. (EMBT) will be acquired by a private equity firm for $234 million. The stock price surged $1.65 to close at $8.15.
Hovnanian Beats Expectations
Although third quarter earnings for Hovnanian Enterprises Inc. (HOV) fell to $1.15 per share from $1.76 per share in the year ago period but the results beat expectations sending the stock price up $1.62 to close at $27.09.
Flow Delays Results
Flow International Corp. (FLOW) delayed releasing its first quarter results sending tyhe stock price down $1.40 to close at $12.20.
Peabody Lowers Production Outlook
Peabody Energy Corp. (BTU) revised its coal production forecast to the low end of its previous guidance. The stock price tumbled $2.21 to close at $40.39.
Martek's Outlook Disappoints
Martek Biosciences Corp. (MATK) swung to a profit of 16 cents per share but forecast full year earnings below expectations sending the stock price plummeting $7.08 to close at $21.54.
Wednesday, September 06, 2006
MasterCard More Merchant Friendly
MasterCard Inc. (MA) introduced two new policies that are more merchant friendly sending the share price soaring $2.03 to close at $58.88.
PlanetOut Lowers Outlook
Analysts downgraded PlanetOut Inc. (LGBT) after the media company lowered its outlook. The stock price plunged $1.13 to close at $3.06.
Carrier Access Cuts Forecast
Carrier Access Corp. (CACS) cut its forecast prompting a downgrade. The stock price plummeted $3.34 to close at $5.78.
Hain Swings To Profit
Hain Celestial Group Inc. (HAIN) swung to a fourth quarter profit of 22 cents per share compared with losses of 7 cents per share in the year ago period. The stock price surged $2.15 to close at $25.35.
Merge Technologies Names New CEO
Merge Technologies Inc. (MRGE) reported a second quarter loss of $6.41 per share due to a goodwill charge and named Kenneth D. Radin its new president and CEO. The stock price added 51 cents to close at $8.05.
Komag Cuts Forecast
Komag Inc. (KOMG) blamed slowing sales for cutting its sales forecast sending its stock price plummeting $4.93 to close at $31.33.
Tuesday, September 05, 2006
Mobile TeleSystems Beats Expectations
Mobile TeleSystems (MBT) reported second quarter earnings that beat expectations sending the stock price surging $2.35 to close at $39.96.
Devon Finds Oil
An exploratory oil well was successfully drilled in the Gulf of Mexico sending shares of 25% owner Devon Energy Corp. (DVN) soaring $7.99 to close at $72.14.
Barron's Says Pegasus Won't Recover
Pegasus Wireless Corp. (PGWC) shares fell 87 cents to close at $1.51 after getting negative coverage in Barron's.
Rumors Of Movie Downloads Through iTunes
Rumors that Apple Computer Inc. (AAPL) will offer full length movies for download through its iTunes Music Store lifted the stock price $3.10 to close at $71.48.
Adolor's Test Results Mixed
Adolor Corp. (ADLR) lost nearly half its value after getting mixed results for its intestinal obstruction drug Entereg. Shares of the biopharmaceutical plummeted $11.32 to close at $13.657.
Illinois Tool Works Buys Click Commerce
The supply chain management software provider Click Commerce Inc. (CKCM) was snapped up by Illinois Tool Works Inc. (ITW) for $292 million. Shares of the supply chain management software provider soared $4.59 to close at $22.54 while the stock price of Illinois Tool Works eased 4 cents to close at $44.13.
Veritas Acquired For $3.1 Billion
Seismic activity measurement firm Veritas DGC Inc. (VTS) was acquired by French oil and gas field surveyor Geophysique in a $3.1 billion cash and stock deal lifting the stock price $7.89 to close at $70.07.
Friday, September 01, 2006
Pegasus Says Warrants Non-Transferable
Pegasus Wireless Corp. (PGWC) notified its investors that warrants for its property dividend were non-transferrable as the stock hit a new 52-week low. The stock price plunged $1.05 to close at $2.38.
Peerless Posts Loss
Peerless Systems Corp. (PRLS) posted a loss and lowered guidance for its advanced imaging business. The stock price plummeted $1.08 to close at $2.93.
Advo Says Valassis Wants Renegotiation
Advo Inc. (AD) asserted that Valassis Communications Inc.'s (VCI) lawsuit was a ploy to renegotiate a lower price for their merger deal. Shares of Advo surged $2.40 to close at $30.99 while Valassis stock fell $1.23 to close at $18.49.
Analyst Calls Intergraph's Buy Out Offer Too Low
Jefferies & Co. analyst Matthew G. McKay said that Intergraph Corp.'s (INGR) $1.3 billion buy out offer from an investment group undervalued the company. The stock price leaped $6.54 to close at $43.90.
Transocean Lands Chevron Contract
Transocean Inc. (RIG) secured an $862 million contract to build a drillship for Chevron Corp. (CVX). Shares of Transocean surged $4.33 to close at $71.08 while Chevron stock edged up 43 cents to close at $64.83.