ACPW, BUD, PEP, CRME, CBSH, GTE, HW, IGT, SI Popular Stocks
U.S. stocks rose Wednesday with the Dow Jones Industrial Average climbing 1.42% to 10011, the S&P 500 gaining 1.70% to 1091 and the Nasdaq Composite rising 1.45% to 2171.
Active Power Inc. (NASDAQ:ACPW, $1.21, +$0.30, 32.96%), a manufacturer of critical backup power systems, said it has received the largest order in its history. It is the second multi-million dollar order from one of the world’s largest Internet search engine providers for more than 16 megawatts of Active Power’s CleanSource uninterruptible power supply systems. Active Power didn’t name the search engine provider.
Anheuser-Busch Inbev NV (NYSE:BUD, $49.75, +$2.20, 4.63%) and food and beverage company PepsiCo Inc. (NYSE:PEP, $61.52, +$0.92, 1.52%) agreed to jointly purchase goods and services for their U.S. operations to get more competitive prices.
Cardiome Pharma Corp. (NASDAQ:CRME, $4.43, -$0.37, -7.71%), a drug maker specializing in heart conditions and gout, said it will spend $27.5 million in buying back 6.47 million shares at $4.25 a piece in its Dutch Auction tender offer, reducing shares outstanding by about 9.7%. Shares had closed at $4.80 Tuesday. While it’s fundamentally good news that the company will be able to repurchase the shares at a low price, analysts say it may be a “psychological” negative that the shares weren’t valued higher in the offer.
Commerce Bancshares Inc.’s (NASDAQ:CBSH, $39.95, +$2.82, 7.59%) third-quarter profit more than doubled on prior-year losses from auction-rate securities as the Midwest bank holding company reported results above analysts’ expectations.
UBS initiated coverage of Gran Tierra Energy Inc. (AMEX:GTE, $4.85, +$0.23, 4.98%) with a stock investment rating of buy, as the analysts said they believe the oil and gas company is poised for exploration levered growth over the next 12 to 24 months. Meanwhile Cormark Securities raised its target price on the company’s Canadian-listed shares to C$6.75 from C$6.25.
Headwaters Inc. (NYSE:HW, $4.64, +$0.33, 7.66%) continued climbing a day after saying fiscal fourth-quarter results will show “signs of stabilization” in some sales areas. Wedbush Morgan also raised its rating to neutral from underperform.
International Game Technology (NYSE:IGT, $22.21, +$0.61, 2.82%) announced it would take a total of about $77 million in fourth-quarter charges, about 26 cents a share, related to relationships and partnerships. The slot-machine company said the charges won’t impact its compliance with its debt.
Siemens AG (NYSE:SI, $102.71, +$4.91, 5.02%) said Wednesday its Healthcare segment won a $135 million integrated service management contract from the University of Pennsylvania Health System, one of the largest health systems in the United States.
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