Updated from 11:23 a.m. EDT
( ENN) was among the
winners Thursday, as shares jumped 17.2% after the real estate investment trust agreed to be acquired by an affiliate of Whitehall Street Global Real Estate Limited Partnership 2007 for nearly $1.3 billion in cash, or $23 a share.
The price represents a 19% premium over Equity Inns' closing price of $19.36 on Wednesday. Including debt, the deal is worth about $2.2 billion. "After careful and thorough analysis, our board has endorsed this transaction with Whitehall as being in the best interests of the company and our shareholders," Equity Inns said. The deal is expected to close during the fourth quarter. Shares of Equity Inns closed up $3.32 to $22.68.
slid 3.3% after the tax preparation and business services company posted a fourth-quarter earnings shortfall. The company reported a loss of $86 million, or 26 cents a share, on revenue of $2.35 billion. Earnings from continuing operations came in at $591.2 million, or $1.81 a share. Analysts polled by Thomson Financial expected earnings of $1.88 a share on revenue of $2.44 billion. During the year-earlier quarter, the company earned $541.7 million, or $1.63 a share, on revenue of $2.18 billion.
Looking ahead, H&R Block sees fiscal 2008 earnings of $1.25 to $1.45 a share, below the $1.47 a share that analysts project. Shares closed down 74 cents to $22.04.
( OO) jumped 12.8% after the maker of sunglasses agreed to be acquired by
for $2.1 billion, or $29.30 a share, in cash. "This is a milestone for our group," Luxottica said. "Significant changes in market dynamics require industry leaders to perfect a mix of best-in-class products and marketing with technical and operational capabilities." The deal is expected to close during the second half of 2007. Oakley shares were trading up $3.22 to $28.45, while shares of Luxottica, which makes sunglass brands such as Ray-Ban and a number of other designer lines such as Prada, were up $3.18 to $38.02.
rose 8% after the maker of engineered products posted second-quarter results that impressed investors. The company posted earnings from continuing operations of $14.8 million, or $1.63 a share, on revenue of $156.8 million. The single-analyst estimate called for earnings of $1.15 a share. During the year-earlier quarter, the company earned $17.2 million, or $1.94 a share, on revenue of $132.7 million. Shares were up $6.66 to $89.95.
rose 7.4% after the maker of greetings cards posted better-than-expected first-quarter results. The company posted earnings from continuing operations of $30.6 million, or 55 cents a share, on revenue of $418 million. Analysts expected earnings of 34 cents a share on revenue of $381.1 million. During the year-earlier period, the company earned $16.6 million, or 26 cents a share, on revenue of $404.2 million.
Looking ahead, American Greetings continues to see full-year earnings of $1.35 a share to $1.55 a share. Analysts project earnings of $1.35 a share. Shares closed up $1.86 to $26.99.