Monday's Winners & Losers
InfoSpace (INSP) rose 8.6% to $19.68 after saying it signed a deal to sell its mobile services business to Motricity, a privately held provider of mobile content services, for $135 million in cash.
Following the close of the transaction, the company expects to return a significant portion of the net proceeds to shareholders as a special cash distribution.
New Oriental Education & Technology Group (EDU), a China-based provider of private educational services, climbed following its latest quarterly results.
Revenue for the quarter ended Aug. 31 increased by 42.5% year-over-year to $81.1 million, and net income surged 55.1% to $33.9 million. Shares of New Oriental were up 10.2% at $73.64.Rohm & Haas (ROH) said its third-quarter results will include an after-tax noncash charge of $42 million, or 20 cents a share, to recognize the potential impact of a recent court decision regarding its U.S. pension plan. The company, a provider of technologies to the specialty materials industry, said that excluding the charge, restructuring costs and asset impairments, earnings for the quarter should be 85 cents to 87 cents a share. Analysts are looking for 85 cents. Shares of Rohm & Haas were down 0.7% at $54.61. Apria Healthcare (AHG) agreed to buy Coram, a privately held provider of home infusion and specialty pharmaceutical services, for $350 million. Shares of Apria, a company that offers home respiratory therapy, home infusion therapy and home medical equipment, were losing 2.4% at $24.71.
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