The Day's WinnersShares of e-business relationship company Netegrity (NETE - Get Report) jumped 12% to $6.12 in early trading on news that the company has signed a new multi-faceted agreement with HP. HP will resell Netegrity's Secure Relationship Management platform, and the HP Services division will expand its security practice to bring in Netegrity products. The two companies also plan to develop multiple integration points between their respective products. Netegrity said the agreement will allow its services to reach new markets and facilitate the delivery of those services. Dutch telecom company Versatel (VRSA) was climbing about 30% to $3 on news that the company will file for bankruptcy protection to help speed the conversion of its debt to equity. The high speed Internet access company said the bankruptcy filing cuts the need for it to have 99% bondholder approval for the restructuring, moving the timetable for the restructuring up by about three months. Versatel already has support of the majority of its bondholders for the action, but the company plans to ask the court to force the other holders to convert the high-yield bonds of its 1.7 billion euro debt into equity shares and cash.
Trucking company Celadon Group (CLDN) tacked on about 15% to $12.95 after raising its fourth-quarter earnings outlook. The company said it now expects to earn 12 cents to 14 cents a share, up from a loss of 5 cents a year ago and ahead of the Thomson Financial/First Call consensus estimate of 11 cents. Celadon said the growth is driven by cost cutting measures and higher revenue associated with the integration of customers from Burlington Motor Coaches, which it purchased in March. The company added that it expects the Mexican border to be opened this summer, which should positively impact earnings going forward. AES Corp. (AES - Get Report) was gaining 12% to $5.63 on news that electricity and natural gas provider Ameren Corp. (AEE) plans to buy AES's electricity unit Cilcorp. Ameren filed an application with the Illinois Commerce Commission to make the purchase of its rival, which AES is selling as part of its plan to raise as much as $1.5 billion and cut spending. The $1.4 billion deal, which includes the assumption of debt, could be dependent on Ameren's pledge to continue to operate Cilcorp as a separate unit and to preserve existing electric rates.