15 November 2010

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US HOT STOCKS: Bucyrus, Isilon, HeartWare, Amtech, Mediacom

U.S. stocks traded higher Monday as the Dow Jones Industrial Average gained 34 points to 11227, the Standard & Poor's 500 rose 4 points to 1203 and the Nasdaq Composite increased 8 points to 2526. Among the companies whose shares are actively trading in the session are Bucyrus International Inc. (BUCY), Isilon Systems Inc. (ISLN) and HeartWare International Inc. (HTWR).
Caterpillar Inc. (CAT, $81.08, +$0.10, +0.12%) said it will buy mining  giant Bucyrus International ($89.98, +$20.36, +29.24%) for about $7.6  billion as the heavy-equipment giant looks to bolster its  mining-equipment production. Under the agreement, Caterpillar will pay  $92 for each Bucyrus share--a 32% premium to Friday's closing price and  an all-time high for the stock. Fellow heavy equipment makers also  gained, including Joy Global Inc. (JOYG, $77.24, +$4.86, +6.71%) and  Terex Corp. (TEX, $25.56, +$1.14, +4.67%).

EMC Corp. (EMC, $21.60, -$0.12, -0.56%) announced plans to acquire  fellow data-storage company Isilon Systems ($33.81, +$7.52, +28.60%) for  $2.25 billion as consolidation in the sector continues. Isilon holders  would get $33.85 a share, a 29% premium to Friday's closing price and an  all-time high. Data-storage peers Compellent Technologies Inc. (CML,  $24.58, +$1.36, +5.86%) and CommVault Systems Inc. (CVLT, $29.60,  +$0.48, +1.65%) are climbed. 
An experimental heart-pump device being developed by HeartWare  International ($89.20, +$16.94, +23.44%) was able to keep more than 90%  of patients alive six months after receiving the device, according to a  study released Sunday. The results met a study goal showing that the  device worked as well as other heart-pumping devices such one by  Thoratec Corp. (THOR, $24.81, -$6.14, -19.84%). 
Amtech Systems Inc. (ASYS, $18.70, +$1.42, +8.22%) swung to a fiscal  fourth-quarter profit that smashed analysts' expectations as revenue  soared on higher shipments. Looking ahead, it forecast revenue for the  current quarter and new year that topped analysts' average estimates. 
Mediacom Communications Corp. (MCCC, $8.44, +$1.58, +23.03%) has  finally agreed to be taken private by its founder and chief executive,  Rocco Commisso, who has been looking to cinch a deal for months, valuing  the company at about $600 million. 
Other Stocks In Focus 
Ontario Lottery and Gaming Corp. and the British Columbia Lottery  Corp. both selected slots, video machines, casino management and  server-based solutions company Bally Technologies Inc. (BYI, $38.10,  +$2.24, +6.25%) as the preferred vendor to replace their Class 3 Gaming  Management Systems. 
BHP Billiton Ltd. (BHP, $88.06, +$1.09, +1.25%) on Monday abandoned  its $39 billion bid for Canadian fertiliser company Potash Corp. of  Saskatchewan Inc. (POT, $137.14, -$2.77, -1.98%), raising questions  about the growth prospects of the world's biggest miner amidst  increasing resistance from governments and global regulators to major  takeovers. 
China Ming Yang Wind Power Group Ltd's (MY, $11.75, +$1.09, +10.23%)  total revenue increased more than five times year-over-year for the  third quarter. The wind turbine manufacturer said it has made  significant progress with its pioneering super compact driven wind  turbines. 
Ford Motor Co.'s (F, $16.75, +$0.45, +2.76%) European division said  Monday that sales in its 19 core markets declined by a quarter on the  year in October and said its market share in these markets also receded.  
Henry Bros. Electronics Inc. (HBE, $8.22, +$1.27, +18.27%) said Kratos  Defense & Security Solutions Inc. (KTOS, $10.87, -$0.07, -0.64%)  has agreed to increase its acquisition price offer after Henry Bros.  received a higher offer during its go-shop period. Henry Bros., which  makes technology-based security services, said Kratos will pay $8.20 a  share for the company, up from its previous offer of $7 a share. 
Kaman Corp. (KAMN, $26.16, -$2.10, -7.43%) announced its intent to  offer $75 million of convertible senior notes in a private placement  solely to qualified institutional buyers. The company, which works in  the aerospace and industrial distribution markets, intends to use some  of the net proceeds to pay down borrowings under its existing revolving  credit agreement, and for general corporate purposes, including future  acquisitions. 
Oppenheimer cut its stock investment rating on Limelight Networks Inc.  (LLNW, $7.03, -$0.61, -7.98%) to underperform from perform and Akamai  Technologies Inc. (AKAM, $47.53, -$2.24, -4.50%) to perform from  overperform on worries that Netflix Inc.'s (NFLX, $169.40, -$3.60,  -2.08%) decision to use Level 3 Communications Inc. (LVLT, $1.18,  +$0.04, +3.51%) for streaming content could generate price competition.  Last week, Netflix picked Level 3 Communications to support streaming of  movies and TV shows, and store the Netflix streaming library starting  next year. 
Lowe's Cos. (LOW, $22.28, +$0.59, +2.72%) said its fiscal  third-quarter earnings rose 17% as revenue and margins improved, though  sales were lower than expected. The home-improvement retailer also  lowered its forecast for the year. 
MakeMyTrip Ltd. (MMYT, $30.87, -$7.28, -19.08%) swung to a fiscal  second-quarter loss in its first report as a public company, with  revenue growing sharply but expenses jumping amid the initial public  offering. Shares fell as core revenue missed analysts' expectations. 
Methode Electronics Inc. (MEI, $10.20, +$0.56, +5.81%), a component  and subsystem devices manufacturer, said it was awarded a five-year  program with auto maker General Motors Co. that will provide more than  $100 million in revenue a year starting in fiscal 2014. 
Monro Muffler Brake Inc. (MNRO, $50.00, +$1.17, +2.40%) increased its  quarterly dividend. The provider of automotive undercar repair and tire  services also declared a three-for-two stock split. 
Motorola Inc. (MOT, $8.18, +$0.19, +2.38%) Co-Chief Executive Greg  Brown narrowed the timeline for the planned separation of the company  into two independent businesses, now calling for the split to occur in  January. "Motorola Solutions' identity effectively starts today," Brown  said during the business's first financial analyst event on Monday. 
Citigroup upgraded its stock investment rating on Phillips-Van Heusen  Corp. (PVH, $60.52, +$1.00, +1.68%) to buy from hold citing the apparel  maker's new higher growth business mix and improved comparability to  Polo Ralph Lauren Corp. (RL, $104.43, +$0.72, +0.69%). 
Morgan Stanley downgraded its stock investment rating in Rackspace  Hosting Inc. (RAX, $27.07, -$0.82, -2.94%) to equalweight from  overweight, saying the "reward balance" has lessened considering strong  year-todate performance. 
Rino International Corp. (RINO, $9.12, -$1.89, -17.17%) reported a 48%  drop in third-quarter earnings despite foreign currency gains as the  Chinese pollution equipment maker had lower revenue. Results fell short  of analysts' expectations and the company lowered its 2010 revenue  target by $18 million to $203 million to $211 million. 
Telestone Technologies Corp.'s (TSTC, $13.99, +$1.97, +16.39%) results  beat analyst expectations, and the provider of wireless technology  coverage services in China said it is confident it will achieve its  full-year guidance.