Paper products maker
( SEO) was among the
winners Friday, as the Helsinki-based company jumped 5% after selling its North American operations for $2.52 billion.
NewPage Holding, owned by private equity group Cerberus Capital, will pay $1.5 billion in cash, $200 million in vendor notes and $370 million in shares of the new company. NewPage also will assume $450 million in liabilities. The deal is expected to be completed in the first quarter of 2008. Shares were adding 91 cents to $19.18.
was adding 5.8% after it priced its previously announced offering of 10 million shares at $25 apiece. Underwriters Wachovia Capital Markets and J.P. Morgan Securities have an option to buy 1.5 million additional shares to cover overallotments. Shares were gaining $1.45 to $26.60.
Heartland Payment Systems
was jumping 6% after Morgan Keegan initiated coverage of the electronic payment processor with a market perform rating. Shares were adding $1.49 to $26.49.
were plunging 20.1% after reports surfaced that a potential buyout of the maker of audio entertainment systems was in jeopardy.
The Wall Street Journal
, citing people familiar with the matter, said buyers Kohlberg Kravis Roberts and Goldman Sachs were having second thoughts, and Harman
later confirmed they were backing out. Shares shed $23.45 to $88.80.
was sinking 11.7%, after the swimming pool products wholesaler slashed its full-year outlook late Thursday. The company now sees earnings of $1.45 to $1.55 per diluted share, vs. its earlier guidance of $1.75 to $1.85 per share. The company blamed the weak housing market for slower swimming pool construction.
On Friday, Morgan Keegan downgraded the stock to market perform from market outperform, while Wedbush Morgan knocked it down to hold from buy. Shares were off $3.28 to $24.81.
( XJT) shed 4.7% after Soleil downgraded the stock to sell from hold. Shares lost 18 cents to $3.68.