Wednesday's Winners & Losers: Nabors
Updated from 11:39 a.m. EST
Shares of EGL (EAGL) were among the Nasdaq's winners Wednesday, soaring 25% after the freight forwarding and logistics company received a $36-a-share offer to be taken private.
The bid, which represents a 21% premium over EGL's closing price Friday, came from Chairman and CEO James Crane and private equity firm General Atlantic. Crane currently owns 18% of EGL. The company said its board has formed a special committee to review the proposal. Shares of EGL recently were trading up $7.75 to $37.53, suggesting that investors are looking for an offer higher than the current bid.
Home Depot (HD) shares climbed 4% on news of the departure of Chairman and CEO Robert Nardelli. The home-improvement retailer named Frank Blake, its vice chairman, as Nardelli's replacement. Nardelli, who has been criticized over his stewardship of the company and a slumping stock price, will receive a $210 million compensation package. Shares of Home Depot recently were up $1.64 to $41.80.Shares of Whirlpool (WHR) rose 2% after the appliance seller said it sold a number of former Maytag facilities. Whirlpool, which bought Maytag last April, sold buildings in Newton, Iowa; Florence, S.C.; Galesburg and Herrin, Ill.; Searcy, Ark.; and Ranson, W.Va. The Newton, Iowa, facility was formerly Maytag's headquarters; Whirpool plans to lease back some of that space through 2007. Shares of Whirlpool were up $1.93 to $84.95.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV