Wednesday's Early Winners & Losers
Valero L.P. (VLI) agreed to acquire the St. James crude oil facility in Louisiana for $140 million. The facility is owned by Koch Supply & Trading. Valero expects to close the acquisition during the next 90 days, pending regulatory approvals.
Medtronic (MDT) received Japanese regulatory approval for the Micro-Driver coronary stent system. The system is the first cobalt-chromium stent designed for small blood vessels requiring stents smaller than 3 millimeters in diameter, Medtronic said. Micro-Driver is an extension of the Medtronic Driver stent, the most-used bare metal stent in Japan for patients with larger blood vessels.
Genta (GNTA) sank 27% after setting plans to sell 20 million shares for gross proceeds totaling $16 million. The stock was dropping 30 cents to 80 cents a share before the open.
Krispy Kreme Doughnuts (KKD) named Andrew Schindler to its board. Schindler was formerly chairman and chief executive of R.J. Reynolds Tobacco and chairman of Reynolds American (RAI), the company formed by the merger of R.J. Reynolds Tobacco and the U.S. operations of Brown & Williamson Tobacco.Travelzoo (TZOO), an Internet media company, named Wayne Lee as its chief financial officer. Lee was appointed vice president of finance in June. Chairman and Chief Executive Ralph Bartel had also served as CFO since founding the company in 1998. Bartel continues in his other posts.
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