International Securities Exchange (ISE) shares were up more than 8% after it posted fourth-quarter profits of $15.1 million, or 38 cents a share, compared with $10 million, or 26 cents a share, a year ago. The exchange also reported that its average daily volume for equity and index options contracts jumped 17.3% year over year. Shares were gaining $3.45 to $46.15.
MGIC Investment (MTG - Get Report) and Radian Group (RDN - Get Report) both surged on word that the insurers will merge to form a new company called MGIC Radian Financial Group. MGIC shares were rising $6.88, or 10.9%, to $69.81. Radian shares were up $5.50, or 9%, to $66.34.
Security Capital Assurance (SCA) jumped on better-than-expected fourth-quarter results. The insurer said it earned $37.1 million excluding items, or 58 cents a share, beating estimates by a penny. Shares were higher by $2.30, or 7.9%, to $31.32.