Ryder, Novartis, Hertz, Dynegy Are Big Movers
NEW YORK (AP) â¿¿ Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:
Ryder System Inc., up $2.24 at $49.28
An RBC analyst raised his investment rating on the trucking company, saying he expects demand for its services to rise.Novartis AG, up $3.16 at $58.99 The Swiss pharmaceutical company reached a deal to complete a $51 billion takeover of eye care company Alcon Inc. Boston Beer Co., up $10.22 at $94.97 The maker of Sam Adams beer raised its 2010 earnings forecast, citing 12 percent growth in shipments over 2009 levels. Hertz Global Holdings Inc., up 26 cents at $13.90 A Barclays analyst was upbeat about the rental car service's ability to beat its own earnings forecasts and Wall Street estimates. Dynegy Inc., up 18 cents at $5.63 The power plant operator agreed to billionaire investor Carl Icahn's $665 million takeover bid, dismissing Blackstone's lower offer. NASDAQ Cypress Bioscience Inc., up 70 cents at $6.45 The drug developer agreed to be bought by Ramius LLC for $6.50 per share â¿¿ 63 percent above the hedge fund's initial bid in July. Joy Global Inc., up $5.57 at $85.78 The mining equipment maker said its quarterly profit rose 18 percent and posted a cheery outlook for 2011. Accuray Inc., up 33 cents at $6.58 The company received FDA approval for a lung cancer treatment component of its CyberKnife radiation therapy device.
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