Post Market News
Stocks that were active in U.S. trading on Monday were Theravance Inc (NASDAQ:THRX), Websense Inc. (NASDAQ:WBSN), Chesapeake Energy Corporation (NYSE:CHK), Acquity Group Ltd (NYSEMKT:AQ) and Pactera Technology Intl Ltd (ADR) (NASDAQ:PACT).
Market Levels
- U.S.: Dow Jones: 15,325.64 (-0.19%), S&P 500: 1,666.29 (-0.07%), Nasdaq: 3496.43 (-0.07%)
- World Markets: Shanghai: 2,299.99 (+0.75%), Nikkei 225: 15,360.81 (+1.47%), Hang Seng Index: 23,493.03 (+1.78%), TSEC: 8,377.05 (+0.11%), FTSE 100: 6,755.63 (+0.48%), EURO STOXX 50: 2,824.50 (+0.23%), BSE Sensex: 20,223.98 (-0.31%)
- Metals: Gold: $1384.10 (+1.42%), Silver: $22.58 (+1.03%), Platinum: $1484.60 (+1.13%)
- Currency: EUR/USD: 1.2897 (-0.67%), USD/JPY: 102.27 (+0.64%), GBP/USD: 1.5269 (-0.66%), USD/CAD: 1.0227 (+1.17%), USD/CNY: 6.1389 (-0.12%), AUD/USD: 0.9818 (-1.52%)
- 10 year U.S. Treasury: 1.96% (+0.04), 30 year U.S. Treasury: 3.17% (+0.04)
Market & Economy Update
A Federal Reserve official said today that the U.S. economy has improved a lot, helped by record stimulus. He also said that policymakers have tools to monitor markets for excesses. His statement fueled expectations that the Federal Reserve may taper its asset purchase program in the next few months.
U.S. stock markets ended the session lower today despite a rally in the international markets. The Dow Jones Industrial Average slipped 28.76 points to 15,325.64, the S&P 500 Index was down 1.18 points to 1,666.29, while Nasdaq fell 2.54 points to 3,496.43.
Stocks In Focus
Theravance Inc (NASDAQ:THRX)
Shares of the San Francisco-based pharmaceutical company fell 6.50 percent to $37.01. Investment firm Royalty Pharma increased its bid for Elan Corp. to $12.50 per share. But Royalty Pharma’s key condition is that Elan shareholders vote against the $1 billion royalty deal Elan signed with Theravance Inc.
Websense Inc. (NASDAQ:WBSN)
Vista Equity Partners has agreed to acquire the software maker. Websense shareholders will receive $24.75 per share in cash, a 29 percent premium to its Friday’s closing price. Shares soared 28.76 percent to $24.76 a share at the end of trading session.
Chesapeake Energy Corporation (NYSE:CHK)
The natural gas producer has appointed Robert Douglas Lawler as its new CEO, the Wall Street Journal reported, citing people familiar with the matter. Lawler will take charge of the company on June 17. He will step into the shoes of Aubrey McClendon who resigned on April 1 due to allegations of mismanagement and corporate misconduct. Chesapeake shares closed the session up 2.61 percent to $20.80.
Acquity Group Ltd (NYSEMKT:AQ)
The Hong Kong-based online marketing services company has agreed to be acquired by Accenture Plc (NYSE:ACN) for $316 million in cash. Accenture is looking to strengthen its digital marketing services business. The consultancy company has agreed to offer $13 per American share of Acquity, over 100 percent premium to its closing price on Friday. Acquity shares soared 113.595 to $12.73.
Pactera Technology Intl Ltd (ADR) (NASDAQ:PACT)
The Chinese outsourcing firm said today that it has received an offer from a group of investors led by the Blackstone Group to take the company private. Blackstone has agreed to pay $7.50 per American share of Pactera. Shares jumped 30.61 percent to $6.87 at the end of trading.
