MapInfo NASDAQ: MAPS) 50.8% HIGHER; Pitney Bowes Inc. (NYSE: PBI) entered into a merger agreement to acquire MapInfo for approximately $408 million in cash, net of expected cash on MapInfo’s balance sheet at the time of closing. MapInfo is the leading global provider of location intelligence solutions. In the next seven business days, Pitney Bowes will commence a tender offer at a price of $20.25 per share in cash for the outstanding common shares of MapInfo.
Accredited Home Lenders (NASDAQ: LEND) 50.6% HIGHER; Continued momentum after yesterday’s 52% gain. The stock has plummeted recently on sub-prime woes.
Novastar Financial Inc. (NYSE: NFI) 24.6% HIGHER; Stock continues to rebound after recent sub-prime debacle. (NOTE – NFI has still fallen over 70% since Feb. 1, 2007)
WebEx (Nasdaq: WEBX) 22.3% HIGHER; Cisco (Nasdaq: CSCO) to acquire WebEx for $57 per share and will assume outstanding share-based awards, for an aggregate purchase price of approximately $3.2 billion, or approximately $2.9 billion net of WebEx’s existing cash balance.
eOn Communications (Nasdaq: EONC) 20.7% LOWER; Reports a Q2 loss of $0.07 compared to a $0.05 profit for the same period last year. Revenues were $1.49 million compared to $2.96 million for the same period last year. "Obviously we are disappointed with the results for the quarter. Revenue was significantly impacted by delays experienced in new product introductions, a continued slow ramp up in sales coming from our China initiatives and seasonal buying patterns of our large US government and education market segments," stated David Lee, eOn’s chairman and chief executive officer.
Pep Boys (NYSE: PBY) 15.4% HIGHER; Reports a Q4 earnings of $0.15 per share, which may not compare to the consensus of a $0.12 loss. Revenues were $586.1 million vs. $554.24 million consensus.
CBOT Holdings (NYSE: BOT) 13.7% HIGHER; IntercontinentalExchange (NYSE: ICE) made a proposal to the Board of Directors of CBOT Holdings, Inc. to combine the two companies in a stock- for-stock transaction that would create theworld’s most comprehensive derivatives exchange. ICE would issue 1.42 ICE shares for each CBOT Class A common share, valued at $187.34 per CBOT share based on yesterday’s closing price of ICE shares.
Bradley Pharmaceuticals Inc. (NYSE: BDY) 12.2% LOWER; Reported Q4 results
Winnebago Industries (NYSE: WGO) 10.5% HIGHER; Reports Q2 earnings of $0.24 per share, 1 cent better than estimates. Revenues came $199 million vs the $196.8 million.
USANA Health Sciences Inc. (Nasdaq: USNA) 8.5% LOWER; Stock getting hit after negative WSJ article.
IntercontinentalExchange (NYSE: ICE) 3.3% LOWER; Made proposal to acquire CBOT Holdings.
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