With a week of relatively stable news in Europe, shares of certain European companies are benefitting from the calm. Allied Irish Banks (AIB) shares are up more than 9.5% in New York today and the Bank of Ireland (NYSE:IRE) has gained more than 4.6%.
Covanta Holding (NYSE:CVA) announced that its Board of Directors has declared a special cash dividend and increased the Company's authorization to repurchase shares of its outstanding common stock.
The special cash dividend in the amount of $1.50 per share will be payable on July 20, 2010 to stockholders of record as of the close of business on July 12, 2010. The total dividend payout is expected to be approximately $230 million based on the number of shares of common stock currently outstanding and will be satisfied using cash on hand and, if needed, cash available under the Company's undrawn revolving credit facility.
Shares of Covanta are up 9.5%.
Following BP's (BP) move to put $20 billion in escrow for potential Gulf liabilities, investors appear to embracing Transocean (NYSE:RIG) another player in the saga, driving shares up over 8%.
Roche Holding delayed their application for taspogulatide due to certain patients' hypersensitivity reactions in a late stage study. Competitor Amylin Pharmaceuticals (NASDAQ:AMLN) is gaining as a result, up over 17.4% so far today.
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