Today's Big Gainers: SXE, AWH, GKK, SMP, LQDT Friday, May 7, 2:57 PM ET
CGI Group (NYSE:GIB) (TSE:GIB.A.CA) and Stanley Inc. (NYSE:SXE) announced that they have entered into a definitive merger agreement for CGI to acquire Stanley through a cash tender offer at $37.50 per share, representing an enterprise value of approximately $1.07 billion.
Shares of Stanley are up about 27%.
Allied World Assurance Company Holdings (NYSE:AWH) reported net income of $133.7 million, or $2.52 per diluted share, for the first quarter of 2010 compared to net income of $131.4 million, or $2.57 per diluted share, for the first quarter of 2009.
The company also announced a $500 million share repurchase program.
Allied World Assurance shares are up 6.75%.
Gramercy Capital (GKK) posted a net loss of $24.8 million, or $0.50 per common diluted share, as compared to the net loss of $27.3 million, or $0.55 per diluted common share, for the same quarter in the previous year.
The company repurchased $19.0 million of CDO bonds previously issued by the Company’s 2005-1 CDO, including $15.0 million of the senior-most class, generating gains on early extinguishment of debt of $7.7 million for the quarter.
Shares of Gramercy Capital are up about 12.5%.
Standard Motor Products (NYSE:SMP) posted net sales for the first quarter of 2010 of $179.4 million, compared to $172.2 million during the comparable quarter in 2009. Earnings from continuing operations were $2.9 million or 13 cents per diluted share, compared to $787 thousand or 4 cents per diluted share a year ago. Excluding items, earnings from continuing operations for the quarter were $3.1 million or 14 cents, compared to $1.3 million or 7 cents per diluted share in the first quarter of 2009.
Standard Motor Products shares are higher by 8.3%.
Liquidity Services (NASDAQ:LQDT) reported consolidated second quarter revenue of $75.8 million, an increase of approximately 27% from the prior year’s comparable period. Adjusted EBITDA was $10.2 million, an increase of approximately 87% from the same year-ago period.
Net income was $3.6 million or $0.13 diluted earnings per share. Adjusted net income came in at $4.9 million or $0.18 adjusted diluted earnings per share, an increase of approximately 96% and 100%, respectively, from the prior year’s comparable period.
Shares of Liquidity Services are up more than 7.75%.
Family Dollar Stores, Inc. is Oversold Friday, December 6, 11:34 AM ET, by Market News Video Staff The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, ...
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