Stocks to Watch: DRS Tech Climbs, DiamondCluster Sinks - TheStreet

Winners

Cognos

(COGN)

said it will pay

Business Objects

(BOBJ)

$24 million to settle a patent infringement lawsuit, and the company also reaffirmed its first-quarter and full-year guidance. Cognos was up 10% to $24.33, and Business Objects was adding 0.4% to $28.94.

DRS Technologies

(DRS)

, a defense electronics maker, was climbing 5% to $39.58 after the company agreed to acquire

Eaton's

(ETN) - Get Report

Navy Controls division for $92.2 million in cash. DRS expects Navy Controls to add $90 million to sales and 20 cents to earnings per share in its first 12 months of operation.

Energy trader

Dynegy

(DYN)

was gaining 7% to $9.92 on word Chuck Watson

resigned as chairman and CEO. Dynegy was the most active issue and one of the biggest gainers on the

New York Stock Exchange.

Spartech

(SEH)

was gaining 4.4% to $24.32 after the company disclosed plans to acquire GWB Plastics. One GWB unit makes specialty plastic additives and another division provides color concentrates and specialty additives. The two businesses generated net sales of more than $40 million in the last 12 months. Spartech, a maker of engineered thermoplastic materials, polymeric compounds and other products, is acquiring the operations for about $48.5 million in cash.

Losers

A&P

(GAP)

was falling 14% to $21.60 after the supermarket chain said it would delay filing its annual report with the

Securities and Exchange Commission

. The company attributed the delay to a review of certain vendor allowances and inventory accounting measures.

Checkpoint Systems

(CKP)

was losing 8% to $12.74 on the first business day after the company lost an antitrust lawsuit with

ID Security Systems

. Checkpoint, a maker of labeling systems, plans to appeal the verdict.

Wachovia Securities downgraded consulting firm

DiamondCluster

(DTPI)

to sell from hold in the wake of the company's recent options exchange program. DiamondCluster was down 14% to $8.17.

Numerical Technologies

(NMTC)

, a provider of services to the semiconductor industry, was dropping almost 15% to $9.95 after SG Cowen downgraded the stock to buy from strong buy based on pushed-out production deals and increased uncertainty regarding the timing of production licenses.