Casino operator Wynn Resorts (WYNN Quote) priced a public offering of 3.75 million new shares at $158 each. The offering is expected to close on Oct. 3.
In connection with the offering, Wynn has granted Deutsche Bank Securities, the underwriter, an option to purchase up to an additional 562,500 shares to cover any overallotments. Shares of Wynn were losing 5.8% to $157.35. Herman Miller (MLHR Quote), a maker of office furniture, said its board has expanded the company's stock repurchase program by $300 million, in addition to the approximately $73 million remaining from a previous program. Shares were down 1.1% to $27.33. Environmental Power (EPG Quote) fell after saying it would sell 5.4 million shares at $5.25 each. The underwriters have been granted an option to buy up to 810,000 added shares to cover any overallotments. Following the news, shares of the owner of renewable energy production facilities were falling 14.4% to $5.31. Target (TGT Quote) rose after Merrill Lynch put a buy rating and a $77 price target on the retailer's stock. Shares of Target were gaining 2.7% to $63.38. Spartech (SEH Quote) was advancing 2.9% to $17 following word that its board approved a plan to buy back up to 2 million shares. Currently, Spartech has about 32 million shares outstanding.- Loading Comments...
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