The Dow Gains 56 Points, Nasdaq Add 17
More News related to ENN
- S&P Changes: HOLX, TRAK, DCT
- Equity Inns (ENN) Announces Special Meeting of Common Shareholders
- Baird Upgrades Equity Inns (ENN) to Outperform
- The Dow Gains 56 Points, Nasdaq Add 17
- Market Rumors 06/21
More News related to ESE
- ESCO Management Will Present at the 2009 Stephens Fall Investment Conference
- Unusual 11 Mid-Day Movers 11/13: CNIC, NLST, SRZ, SSTI Higher; GMET, LIME, BIOF, ESE Lower
- Morning Movers 11/13: CNIC, TSTC, NLST, AGO, SLI Higher; LIME, GMET, BIOF, DISK, MRGE, SSY Lower
- Brean Murray Downgrades ESCO Technologies (ESE) to Hold
- After-Hours Movers 11/12: TSTC, LXRX, MDSO Higher; DISK, MRNA, LIME, BBI, ESE, JWN Lower
More News related to LUX
- Luxottica Group (LUX) Launches New 18.5M Share Buyback Plan
- Luxottica: Final Update on the Share Buyback Program Approved at the Shareholders' Meeting on May 13, 2008
- Oakley Introduces Ultra-Premium Product Collection
- Luxottica: Monthly Update on Share Buyback Program
- Luxottica Reports Improvement in Sales for 3Q09
The Dow gained 56.42 points to close at 13,545.84, the Nasdaq added 17.00 points to close at 2,616.96, and the S&P 500 gained 9.35 points to close at 1,522.19. Stocks ended higher as billion dollar acquisitions trumped the day. Equity Inns was taken out by private equity firm Whitehall Street Global for $2.2 billion and Oakley (NYSE: OO) was acquired by Luxottica (NYSE: LUX) for $2.1 billion. Separately, oil fell $0.21 to close at $68.65.
Volume was modest with 3.2 billion shares trading on the NYSE and 2.08 billion trading on the Nasdaq. Advancers topped Decliners by a margin of 18:15 on the NYSE and 16:14 on the Nasdaq.
In individual stories, Equity Inns, Inc. (NYSE: ENN) gained 17.2% after entering into a definitive merger agreement under which an affiliate of Whitehall Street Global Real Estate Limited Partnership 2007 will acquire Equity Inns, Inc. in a transaction valued at approximately $2.2 billion, including debt. Under the terms of the agreement, Whitehall will acquire all of the outstanding common shares of Equity Inns, Inc. for $23.00 per share in cash. This represents a premium of approximately 19% over Equity Inns\\\' closing price on June 20, 2007. ESCO Technologies Inc. (NYSE: ESE) fell 21.3% after being informed by Pacific Gas & Electric Company (PG&E) of its plans to request information from a small group of vendors to evaluate their ability to address potential future functionality requirements for the electric portion of its service territory.
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