Movers: Rio Tinto, Bristol-Myers, Broadcom
Tibco Software (TIBX)
Up 0.69 to 7.44
Bear Stearns reportedly upgrades to peer perform from underperform.
Rio Tinto PLC (RTP)
Up 33.01 to 438.74
Higher on report that BHP Billiton is expected to boost its proposed all-share takeover offer for RTP by about a fifth, possibly by adding a cash sweetener to entice shareholders, according to a Reuters poll.
CNOOC Ltd. (CEO)
Up 13.55 to 172.55
Citigroup reportedly upgraded the shares to buy from hold.
Felcor Lodging Trust (FCH)
Up 0.19 to 17.23
JP Morgan removes from Focus List due to stop-loss thresholds, reiterates overweight.See Pg. 5
Arcelor Mittal (MT)
Up 1.44 to 71.18
In response to media reports, the company confirms it is in talks with controlling shareholders in China Oriental Group about future co-operation and including increasing its stake in the company. MT currently holds a 28% equity stake in China Oriental Group.
Hecla Mining (HL)
Down 0.31 to 11.93
CIBC World downgrades the shares to sector underperform from sector perform.
Bristol-Myers Squibb (BMY)
Up 0.56 to 28.02
The company and Pierre Fabre Medicament terminate their license agreement for the development of vinflunine, a chemotherapy agent under investigation for the treatment of advanced or metastatic bladder cancer and other tumor types.
Up 0.18 to 27.32
Broadcom said that a federal judge has let stand a jury verdict that found that Qualcomm (QCOM) infringes three Broadcom patents. Broadcom will now seek to enjoin Qualcomm from making, using, selling and developing third generation (3G) WCDMA and EV-DO cellular chips that infringe any of the patents.
City Telecom (H.K.) (CTEL)
Down 1.18 to 5.70
The company posted HK$28.9 million fiscal 2007 vs. HK$92.2 million loss, driven by EBITDA margin expansion from 21.1% in fiscal 2006 to 31.0% in fiscal 2007.
Massey Energy (MEE)
Up 0.79 to 30.58
Massey says a higher court overturned a $76 million judgment against the company.
Up 0.39 to 122.17
Shares of Transocean (new) will be added to the S&P 500 index after the close of trading on Nov. 26, replacing existing shares of Transocean. Transocean is acquiring GlobalSantaFe (GSF) in a transaction that involves the shares of both companies being converted into a new class of stock.