Updated from 2:11 p.m. EST with new stock prices
Shares of Marvel Entertainment (MVL) were among the NYSE's winners Monday, soaring 16.2% after the entertainment company blew past Wall Street's third-quarter profit targets.
Marvel posted third-quarter earnings of $36.3 million, or 45 cents a share, on sales of $123.6 million. Analysts polled by Thomson Financial expected a profit of 28 cents a share and sales of $90.5 million. The company attributed the performance to strength in its licensing business, particularly for Spider-Man 3 merchandise.
For the full year, Marvel now sees earnings of $1.60 to $1.65 a share, above its prior view of $1.30 to $1.55. The company lifted its sales forecast for the year to $455 million to $475 million from a prior range of $375 million to $435 million. Wall Street projects full-year earnings of $1.44 a share and sales of $431 million. Shares of Marvel were jumping $3.77 to $27.08.American Financial Realty Trust (AFR) and Alfa Corp. (ALFA) also saw big gains after each agreed to buyouts. Gramercy Capital (GKK) agreed to acquire American Financial for $5.50 a share in cash and 0.12096 shares of Gramercy stock. Including debt, the deal is valued at $3.4 billion. Gramercy, a unit of New York office owner SL Green (SLG - Get Report), expects to own approximately 27 million square feet of commercial real estate in 37 states after the deal. Shares of American Financial were up $1.61 to $8.06, while Gramercy shares were up 11 cents to $24.33.