Friday, June 29, 2012
Orexigen Therapeutics Extends Rally For 3rd Session (NAV, AA, GD, OREX, ENA)
Navistar International Corp (NYSE:NAV) shares gained 9.15% to $27.90 in the morning hour. On June 22, 2012, According to Reuters, Fitch Ratings has lowered the long-term debt rating and senior unsecured notes rating of Navistar International Corporation and Navistar Financial Corporation (“NFC”) to "BB-" from "BB". Fitch has also downgraded the rating on Navistar International’s senior subordinated notes to "B" from "B+."
Alcoa Inc. (NYSE:AA) stock increased 2.35% to $8.71 in the early hour after the company announced that it has reached an agreement to sell its 351-megawatt Tapoco Hydroelectric Project to Brookfield Renewable Energy Partners. Alcoa anticipates receiving proceeds of $600 million from the sale upon closing, which is subject to customary federal and state regulatory approvals. The transaction, which involves non-core assets, is expected to close by year-end.
Orexigen Therapeutics, Inc. (NASDAQ:OREX) stock climbed 1.53% to $5.99 in the morning hour. The company was upgraded by equities researchers at JPMorgan Chase from a “neutral” rating to an “overweight” rating in a report issued yesterday. The shares of the company have a 52-week low of $1.22 and a 52-week high of $5.57.
General Dynamics Corporation (NYSE:GD) shares climbed 3.61% to $65.44 in the early hour after the company entered into an agreement to acquire the Ship Repair and Coatings Division of Earl Industries. The value of the cash transaction, which General Dynamics expects to be accretive to earnings in 2013, has not been disclosed. The transaction is subject to customary closing conditions and is expected to close this summer.
Enova Systems, Inc. (NYSEAMEX:ENA) shares gained 0.83% to $0.0605 in the morning hour. The 52 week trading range for the company is $0.03 - $0.90. In the last one year, the shares of the company has plunged over 90%. Enova is engaged in the development, design and production of power train systems and related components for electric and hybrid electric buses and medium and heavy duty commercial vehicles and stationary power generation systems.