Companies that are expected to see heavy trading on the last day of 2012 are Bristol Myers Squibb Co. (NYSE:BMY), Duff & Phelps Corp (NYSE:DUF), Brady Corp (NYSE:BRC), Amazon.com, Inc. (NASDAQ:AMZN), ConAgra Foods, Inc. (NYSE:CAG) and Resolute Energy Corp (NYSE:REN).
Bristol Myers Squibb Co. (NYSE:BMY): The drug maker announced that the USFDA has approved its anti-clotting drug that lowers the risk of heart stroke in patients suffering from atrial fibrillation, a heart rhythm disorder. Bristol-Myers Squibb was working on this drug in collaboration with Pfizer Inc. (NYSE:PFE). BMY shares jumped 1.63 percent to $32.42 in early trading.
Pros And Cons Of Tail Risk Funds
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Duff & Phelps Corp (NYSE:DUF): The investment banking firm is being acquired by a group of investors led by the private equity firm Carlyle Group LP (NASDAQ:CG). According to the terms of the deal, Duff & Phelps shareholders will receive $15.55 per share, or 19 percent premium over its closing price of $13.05 on Friday. Shares surged 19.23 percent to $15.56 in early market trading.
Brady Corp (NYSE:BRC): The company is buying Precision Dynamics Corp. from the private equity firm Water Street for $300 million. This gives Brady a stronger footprint in the vast healthcare market. Shares were almost flat at $32.73.
Amazon.com, Inc. (NASDAQ:AMZN): The online retailer announced Friday that its director, Blake Krikorian, has resigned and moved on to another firm. Shares of Amazon.com were down 0.89 percent to $243.19 in early trading.
ConAgra Foods, Inc. (NYSE:CAG): Last month, the packaged food company announced that it will fund the purchase of Ralcorp Holdings Inc. with debts. So, Standard & Poor’s has downgraded ConAgra credit ratings to the brink of junk category. Shares plunged 1 percent to $28.91 in early market trading.
Resolute Energy Corp (NYSE:REN): The oil producer is acquiring a 32 percent stake in Permian Basin oil assets for $125 million from Texas-based private parties. Resolute shares jumped slightly to $8.05 in today’s early session.