Monday's Winners & Losers

Marsh & McLennan (MMC Quote) fell after saying Brian M. Storms is stepping down from his position as chief executive officer of Marsh Inc., the company's insurance broking subsidiary, effective immediately.

The search for a successor is already underway. In the interim, Michael G. Cherkasky, president and chief executive of Marsh & McLennan, will serve as acting CEO of Marsh. Marsh & McLennan was down 5.7% at $24.69.

ITT (ITT Quote) set plans to acquire EDO (EDO Quote), an aerospace and defense company, for $56 a share in cash.

Including approximately $120 million of net debt and the anticipated conversion of convertible notes, the transaction values EDO at $1.7 billion. Shares of ITT were down 76 cents at $63.53. EDO was up 6.6% at $54.90.

AnnTaylor Stores (ANN Quote) named Michael J. Nicholson as executive vice president and chief financial officer, effective immediately. Nicholson, 41, joins AnnTaylor after seven years at Limited (LTD Quote), most recently as an executive with Victoria's Secret.

Shares of the retailer were down 6 cents at $32.30.

Homebuilder Standard Pacific (SPF Quote) said it has amended its revolving credit facility, $100 million term loan and $250 million term loan. Standard Pacific was up 5 cents at $8.08.

The amendments, among other things, provide the company with additional operating flexibility under the facilities' borrowing base, consolidated tangible net worth and minimum interest coverage covenants, tighten the leverage covenant over time and modestly revise pricing. In addition, the company reduced the total commitment available under the revolver from $1.1 billion to $900 million and the outstanding principal amount of the larger term loan from $250 million to $225 million.