( RUTX) surged on news the Wilmington, Del.-based insurance company agreed to be acquired by a subsidiary of Israel's
for $20.40 a share. Thursday's closing price of Republic's common stock was $15.22.
Republic also announced second-quarter earnings, with revenue increasing 13.3% to $72.1 million. The company earned $441,000, or 3 cents a share, compared with a loss of $463,000, or 9 cents a share, a year ago. Shares gained $4.56, or 30%, to $19.78.
stumbled after the Coral Gables, Fla., building contractor swung to a second-quarter loss. The company lost $23.7 million, or 36 cents a share, compared with earnings of $1.1 million, or 2 cents a share, a year ago. Revenue totaled $232.1 million, up 11% from a year ago. Income from continuing operations was 18 cents a share.
For the year, MasTec reiterated its forecast of revenue in the range of $950 million to $975 million and earnings from continuing operations of 70 cents to 80 cents a share. Wall Street is looking for earnings of 73 cents a share. Shares declined $2.15, or 16.6%, to $10.78.
( HYC) sank after the Phoenix-based electronic-payments company missed second-quarter revenue expectations. The company earned $6.2 million, or 11 cents a share, compared with a loss of $16.7 million, or 32 cents a share, a year ago. Revenue increased 10% to $66.1 million. Analysts were expecting earnings of 6 cents a share on $67 million in revenue. Shares fell $1.41, or 15%, to $7.99.