This Day On The Street
Continue to site
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

Tuesday's Winners & Losers

Updated from 11:45 a.m. EDT

Lyondell Chemical (LYO) was among the NYSE's winners Tuesday, jumping 17.3% after the company agreed to be acquired by Basell for about $12.1 billion in cash, or $48 a share.

The price reflects a 20% premium to Lyondell's closing price of $40.12 on Monday. Including debt, the deal is worth about $19 billion. "We believe this transaction offers significant value for Lyondell's shareholders," Lyondell said. "We are very pleased that Basell recognizes the value and fit of our portfolio of chemical and refining assets."

The deal should close during the next several months. Basell's buyout comes on the heels of its failed attempt to buy Huntsman (HUN), which agreed to be acquired by Hexion Specialty Chemicals last week. Shares of Lyondell closed up $6.93 to $47.05.

Pogo Producing (PPP - Get Report) climbed 13.9% after the oil and gas producer agreed to be acquired by rival Plains Exploration & Production (PXP) for about $3.6 billion, or $60 a share. The cash and stock deal represents a 19% premium to Pogo's closing price of $50.48 on Monday.

"Today's announcement represents a significant milestone in the proud and productive 38-year history of Pogo Producing Company," Pogo said. "This transaction with Plains Exploration & Production Company creates a combined company with impressive financial and operational strength able to successfully capture the best of opportunities in our industry."

The deal is expected to close during the fourth quarter. Shares of Pogo Producing closed up $7.02 to $57.50, while shares of Plains Exploration were down $3.31 to $47.88.
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
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
MOD $10.46 -4.10%
PPP $1.87 -1.10%
STLY $2.52 -1.90%
KEYS $25.98 -0.08%
AAPL $95.18 1.64%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs