This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks in Motion: Index Additions

Several stocks moved after Standard & Poor's announced changes to its indices Tuesday night, including the addition of Whole Foods (WFMI), which will replace Visteon (VC) in the S&P 500. Whole Foods was recently up 5.3% to $79.45, reflecting demand anticipated when index-fund managers add the stock to their portfolio. Visteon, which was kicked out for having too low a market cap, lost 5.4% to $6.49.

Other movers included Affymetrix (AFFX - Get Report), which will enter the S&P MidCap 400, and Blue Coat (BCSI), which will enter the S&P 600 along with Digitas (DTAS). Affymetrix was recently up 7.8% to $47.12, and Blue Coat rose 5.2% to $45.78.

Celgene (CELG) jumped after the Food and Drug Administration cleared its Revlimid to treat transfusion-dependent anemia. Initial shipments are expected to begin early next year. Celgene also split its stock 2-for-1 and said its CEO, John Jackson, will retire on June 1. The shares were recently up 4.7% to $60.19.

Shares of Linens N Things (LIN - Get Report) took off after the company said it expects to meet two conditions of a private equity buyout and scheduled a shareholders' vote on the transaction. Linens N Things agreed last month to be acquired by Apollo Management for $28 a share. Before completing the deal, Apollo insisted that the company's fourth-quarter same-store sales decline be no more than 6%, and that the company produce earnings before interest, taxes, depreciation and amortization of $140 million this year. It expects to do both. In recent trading, Linens N Things rose 10.3% to $26.35.

Riviera Holdings (RIV) soared after a group of investors filed with the Securities and Exchange Commission to say they are cooperating on a possible $15-a-share bid for the Las Vegas hotel and casino operator. The group, which includes former Starwood (HOT - Get Report) chairman Barry Sternlicht, hired Bear Stearns as financial advisers. Shares of Riviera were up 14.3% to $16.50.

Calmine (CALM - Get Report) shot up after reporting a narrowed second-quarter loss and saying revenue rose 52% from a year ago. The Jackson, Miss., company said sales for the second quarter ended Nov. 26 rose to $138.3 million from $90.7 million last year. Cal-Maine lost $685,000, or 3 cents a share, compared with a loss of $5.3 million, or 23 cents a share, in the year-ago period. "Egg demand, sales volume, and egg prices started slow in the second quarter but finished on a very strong note, with robust sales and improved egg prices during the three weeks leading up to Thanksgiving," the company said in a press release. Shares of Cal-Maine were up 8.8% to $7.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
AFFX $12.11 -3.00%
CALM $43.02 -2.60%
HOT $85.34 -0.97%
TWX $84.52 -1.60%
LIN $25.00 0.00%

Markets

DOW 17,931.90 -138.50 -0.77%
S&P 500 2,092.94 -21.55 -1.02%
NASDAQ 4,948.0080 -68.9210 -1.37%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs