Robbins & Myers, Inc. (NYSE:RBN) shares gained 27.12% to $59.49 in the pre-market hour after National Oilwell Varco Inc. agreed to acquire Robbins & Myers for $2.55 billion. Robbins & Myers shareholders will receive $60 a share, a 28% premium to Wednesday's close. Robbins & Myers' largest shareholder, M.H.M. & Co. with a stake of about 10%, has agreed to vote its shares in favor of the deal.
Should Investors Buy RBN After today’s Rally?
Continental Resources, Inc. (NYSE:CLR) stock fell 2.16% to $68.07 in the pre-market hour after the company posted a second quarter profit of $405.7 million, or $2.25 a share, up from $239.2 million, or $1.33 a share, in the same quarter a year earlier. Adjusted per-share earnings rose to $0.68 a share from $0.60 a share. Oil-and-gas revenue increased 35% to $523.4 million. Analysts had forecast earnings of $0.74 a share and $559 million in oil-and-gas sales.
Vringo, Inc. (NYSEAMEX:VRNG) stock increased 4.65% to $3.60 in the pre-market hour after the company announced that it had entered into a Patent Purchase Agreement with Nokia Corporation (ADR)(NYSE:NOK) pursuant to which Nokia agreed to sell Vringo a portfolio consisting of over 500 patents and patent applications worldwide, including 109 issued United States patents. The company agreed to compensate Nokia with a cash payment and certain ongoing rights in revenues generated from the patent portfolio.
Shares of NOK also soared 6% in the pre-open session.
Can NOK Continues To Move Higher? Get Free Trend Analysis
The Wendy's Company (NASDAQ:WEN) shares climbed 1.98% to $4.63 in pre-market hour after the company reported a second quarter loss of $5.5 million, or $0.01 a share, versus a profit of $11.3 million, or $0.03 a share, in the same quarter a year earlier. Adjusted per-share earnings were flat at $0.05 a share. Revenue rose 3.8% to $645.9 million. Analysts had most recently forecast earnings of $0.05 a share on revenue of $647 million.