This Day On The Street
Continue to site right-arrow
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 Under $10 with 50-100% upside potential - 14 days FREE!

Thursday's Winners & Losers: Tecumseh

Updated from 12:27 p.m. EDT

Tecumseh Products (TECUA) was among the Nasdaq's winners Thursday, as shares soared 45.6% after the industrial goods company said that it is selling the majority of its electrical components operations to Regal Beloit for $220 million in cash.

"This is another important step in our ongoing efforts to reduce the company's debt, sharpen its strategic focus, and improve its financial performance," Tecumseh said. The deal is expected to close during the third quarter. Shares closed up $7.21 to $23.01.

Hilton Hotels (HLT) soared 25.9% after the hotel operator agreed to be acquired by the Blackstone Group (BX) for about $26 billion, or $47.50 a share, in cash. "Our priority has always been to maximize shareholder value," Hilton said. "Our board of directors concluded that this transaction provides compelling value for our shareholders with a significant premium." The deal is expected to close during the fourth quarter. Shares closed up $9.34 to $45.39.

Shares of other hotel operators were also higher, following the Hilton bid. Starwood Hotels (HOT) climbed $5.42 to $74.55; shares of Host Hotels & Resorts (HST) were trading up $2.17 to $26.01; Choice Hotels International (CHH) was trading up $2.92 to $42.60; and LaSalle Hotel Properties (LHO) was trading up $3.01 to $48.36.

Shares of Huntsman (HUN) climbed 12.5% after the chemical company received a bid from Hexion Specialty Chemicals, an Apollo Management portfolio company, worth $10.4 billion, or $27.25 a share. The bid is better than Basell's $9.6 billion, or $25.25 a share, offer made in June. Huntsman is reviewing the new offer by Hexion. Shares of Huntsman closed up $3.06 to $27.46.

Penson Worldwide (PNSN) tumbled 24.7% after the provider of trade clearing services warned that its full-year earnings would fall short of expectations. The company now sees earnings of $1.20 to $1.24 a share. Analysts polled by Thomson First Call project earnings of $1.39 a share. Previously, the company said that it was comfortable with analysts' expectations of $1.35 to $1.44 a share. "We are disappointed at having to make today's announcement, but it recently became clear that our second quarter results would be below our expectations, which caused us to review our financial plan for the year," the company said. Shares closed down $6.25 to $19.11.

Shares of Tefron (TFR) stumbled 14.8% after the clothing maker warned that second-quarter earnings and sales would be well below last year's comparable period. The company sees sales of about $40.5 million, down from last year's $49.7 million. "The expected decrease is due mainly to lower than anticipated active-wear and intimate apparel sales," the company said. The company also said that second- and third-quarter earnings would be "significantly below" last year's second- and third-quarter results. Shares closed down $1.33 to $7.75.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs