( AVZ) were among the
winners Wednesday, rising 14% after the asset management company confirmed that it received an unsolicited approach from Toronto's
CI Fund Management
to buy its Canadian operations.
Amvescap, which owns the AIM and Invesco mutual fund families, said its board considered the acquisition interest but "unanimously concluded that it is not in the best interests of shareholders." CI also indicated, according to Amvescap, that it might have an interest in buying all of Amvescap. "The board of Amvescap doubts that CI has the ability to make a firm offer for Amvescap at a level that would be in the best interests of Amvescap's shareholders," Amvescap said in a statement. Shares were recently trading up $1.75 to $14.01.
rose 9% after the company received multiyear contracts worth up to $25 million from
and one of its joint venture partners. The contracts call for Ultralife to produce and supply custom-designed Ultralife HiRate nonrechargeable lithium backup batteries for GM's OnStar Telematics system. The batteries will be used in two of GM's vehicle platforms. Shares were trading up $1.52 to $17.88.
rose 18% after the company previewed second-quarter sales that rose 27% from a year ago. The maker of cultured dairy products posted sales of $5.1 million. A year ago the company reported sales of $4 million. The single-analyst estimate called for sales of $4.7 million, according to Thomson First Call. The company said that it would report its full results on Aug. 15. Shares were trading up $2.18 to $14.33.
rose modestly after the company posted third-quarter financial results. The metal recycler and steel manufacturer reported earnings of $33.5 million, or $1.08 a share, on sales of $226.8 million. A year ago, the company posted earnings of $42.5 million, or $1.37 a share, on sales of $193.8 million. Looking ahead, Schnitzer expects fourth-quarter net selling prices in its recycled metals business to be lower than the $230 per ton average reported during the third quarter but above the $199 per ton average that it posted during last year's fourth quarter. Fourth-quarter sales volumes, meanwhile, are expected to be below fiscal 2005's quarterly run rate, but total fiscal 2005 sales should be about equal to last year's level, the company said. Shares were trading up 8 cents to $24.73.
rose 4% after the chemicals maker said that it would sell its toluene diisocyanate business to BASF for an undisclosed amount. The sale also includes the transfer of Huntman's customer list and sales contracts. The manufacturing plant, which will not be transferred as part of the deal, will be shut down. Huntsman expects to record charges of about $39 million in association with the sale, with the bulk of the writedown taking place during the second quarter of 2005. Shares were trading up 84 cents to $21.57.
NYSE volume leaders included
, down 26 cents to $26.79;
( KRB), down 4 cents to $25.49;
( NT), down 2 cents to $2.55;
, up 34 cents to $7.16;
Bank of America
, down 27 cents to $44.84;
, down 32 cents to $59.82;
( LU), down 1 cent to $2.96; and
, down 13 cents to $34.59.
volume leaders included
, up 18 cents to $13.45;
, up 7 cents to $3.71;
, down 4 cents to $24.94;
, up 18 cents to $26.86;
, up 15 cents to $18.97; and
, down 84 cents to $22.14.