Friday, June 8, 2012

Hot Stocks Of The Day (CTFO, CNC, MCD, CHK, ARCC)

China TransInfo Technology Corp (NASDAQ:CTFO) soared 15.95% to $5.24. The Company has entered into an agreement to merge with TransCloud Company Ltd. TransCloud Company Ltd is Cayman Islands exempted company with limited liability and indirectly wholly owned by Shudong Xia. According to the terms of the merger agreement, each share of its common stock issued and outstanding immediately prior to the effective time of the merger will be converted into the right to receive $5.80 in cash without interest.

Centene Corp (NYSE:CNC) jumped up 9.56% to $35.98. The Company has been selected as one of five health plans to be awarded a contract to serve Medicaid members in Ohio. Under the new state contract, Buckeye will operate statewide through Ohio's three newly aligned regions. A.M. Best Co has upgraded the issuer credit rating to "bb" from "bb-" and debt rating to "bb" from "bb-" on $250 million 5.75% senior unsecured notes, due 2017 of Centene Corporation.

McDonald's Corporation (NYSE:MCD) decreased 1.70% to $86.88. The Company reported same-store sales increased slower-than-expected 3.3% in May. This was due to austerity measures in Europe pressured the world's largest fast-food chain's results.Baird Equity Research was expecting a 4.5% increase in global sales from restaurants open at least 13 months. Same-store sales in the U.S. rose 4.4%, below the Baird’s estimate of 5%. In Europe, same-store sales rose 2.9%.

Chesapeake Energy Corporation (NYSE:CHK) is up 0.11% to $17.87.  The Company will sell its limited partner units and its general partner interests in Chesapeake Midstream Partners L.P. to Global Infrastructure Partners for cash proceeds of $2.0 billion. Chesapeake has also entered into a letter agreement with CHKM relating to the potential sale of certain Mid-Continent gathering and processing assets to CHKM.
Ares Capital Corporation (NASDAQ:ARCC) is down marginally 0.90% to $15.39. Ares Capital CP Funding LLC, wholly owned subsidiary of Ares Capital Corporation has increased the size of its revolving funding facility from $500 million to $580 million through the addition of two new lenders.

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