Zix Corp. ( ZIXI) shares surged 28% Wednesday on news the software company won two separate contracts to provide e-payment service for Blue Cross Blue Shield of Massachusetts and a statewide deal to provide a 500-physician e-prescribing program. Shares were up 21 cents, or 20.2%, at $1.24 in recent trading. Shares of Cadmus Communications ( CDMS) got a boost Wednesday after Cenveo ( CVO) agreed to buy the journal publisher for $24.75 a share in cash. Cadmus shares were higher by $3.48, or 16.6%, at $24.46, and Cenveo shares were up $1.62, or 8.2%, at $21.47. Shares of Gorman-Rupp ( GRC) climbed on news its subsidiary, Patterson Pump Co., will fill a $15 million order for pumps that will be used for New Orleans flood control. The company expects to receive the revenue from the sale of the eight pumps in mid-2007. Shares were up $3.03, or 9.6%, at $34.43. Evergreen Energy ( EEE) was trading some 13% higher Wednesday on news the company signed deals with two major utilities to integrate its K-Direct coal refineries in existing and new coal power plants. The company said it would provide further details of the deals next month. Its Buckeye Industrial Mining subsidiary successfully demonstrated a test burn of its K-Fuel refined coal in Painesville, Ohio, the results of which complied with a new federal clean air standard for industrial boilers, a standard that goes into effect next year. Shares were up 58 cents, or 6.4%, at $9.66.
Shares of McDermott International ( MDR) were trading higher Wednesday after the Houston-based energy company said it made its final payment related to Babcock & Wilcox Co.'s asbestos-related reorganization. McDermott paid $355 million with cash on hand, and, by borrowing from its credit facility, it paid off a $250 million promissory note, which is expected to result in a $5 million charge in the fourth quarter of 2006. Shares were up $1.04, or 2.1%, at $50.12. Sempra Energy ( SRE) was trading higher after the company raised its outlook for 2006 due to increased profitability at its commodities business. Sempra expects 2006 earnings to exceed $4 a share, up from a previous estimate range of $3.50 to $3.70. Separately, the company has decided to sell its interests in two natural gas distribution companies in Buenos Aires, Argentina. Sempra Energy, which owns 37% of Camuzzi Gas Pampeana and 39% of Camuzzi del Sur, expects to record a $200 million charge in the fourth quarter as a result of the dispositions, but it said the sales will not materially affect its balance sheet or net equity. Sempra shares were up 70 cents, or 1.3%, at $55.99. HCC Insurance Holdings ( HCC) shares moved higher after the company reported a third-quarter earnings beat Wednesday and said it concluded an independent review of its options granting practices. HCC posted earnings of $93.3 million, or 80 cents a share, up from $7.4 million, or 7 cents a share, a year ago. Analysts were looking for earnings per share of 74 cents. Shares were up 42 cents, or 1.3%, at $32.08.
Delta and Pine Land Co. ( DLP) fell slightly after reporting a fiscal first-quarter loss Wednesday. The company reported a net loss of 26 cents a share, including a 6-cent charge related to its pending merger with Monsanto ( MON). A year ago, the company had a first-quarter loss of 27 cents a share, including a 2-cent charge. Its revenue was $14.2 million, up from the year-ago figure of $9.8 million. Shares were down 8 cents, or 0.2%, at $40.74 in recent trading. Inverness Medical Innovations ( IMA) climbed on news the medical technology company inked a joint venture with Procter & Gamble ( PG) that will seek to develop, manufacture, market and sell existing and yet-to-be-developed consumer diagnostic products outside of the fields of cardiology and diabetes. Under terms of the 50-50 partnership, Inverness will contribute its related consumer diagnostic assets and P&G will pay $325 million in cash to acquire its interest in the joint venture. Shares of Inverness were up 58 cents, or 1.6%, at $37.99, and P&G was up 18 cents, or 0.3%, at $64.37.