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SMALL BUSINESS
Movers roundup: Northrop Grumman, Lexmark
By The Associated Press
, AP
-Among the stock activity stories for Monday, Nov. 9, from AP Financial News:
Northrop Grumman Corp. shares rose on news it is selling its contractor's advisory services unit for $1.65 billion in cash to a private equity firm in order to comply with new government regulations.
Shares of Lexmark International Inc. sunk after Goldman Sachs put the stock on its "Conviction Sell" list, arguing that investors are overvaluing the printer and copier company.
Shares of Hercules Offshore Inc. jumped as an analyst upgraded the offshore drilling services company, citing improving demand.
Shares of East West Bancorp Inc. shot upward after it acquired a San Francisco-based competitor in a deal analysts said will improve earnings and expand market share.
Shares of SandRidge Energy Inc. climbed as an analyst raised his rating for the independent oil and natural gas company, citing its discounted share price.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-11-09 14:28:08
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