Notable ETF Movers of the Day 02/06: (XME) Higher; (OIH) (IBB) Lower
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- Wall St set to gain on tech rebound, Middle East in focus
- Oracle results beat estimates, but shares fall on plans for $40 billion raise
- Oil prices steady as investors weigh US-Iran war escalation
- Intel rallies as BofA double-upgrades stock on increased CPU, foundry visibility
- Oppenheimer sees little strategic case for Tesla-SpaceX merger
- Needham Starts Hyliion Holdings (HYLN) at Buy
- Alibaba falls on China AI capex report; Citi says selloff is premature
- Oppenheimer Starts SpaceX (SPCX) at Outperform, PT $190, 'space infrastructure appears structurally advantaged'
- Crude Inventory Fell 7.2 Million Barrels Last Week, Says EIA
- Wall Street indexes fall more than 1%, hit by tech, Iran war worries
Reliance Steel (RS) to Acquire Metals USA (MUSA) for $20.65/Share
February 6, 2013 8:31 AM ESTReliance Steel & Aluminum Co. (NYSE: RS) and Metals USA Holdings Corp. (NYSE: MUSA) today announced a definitive merger agreement whereby Reliance Steel & Aluminum Co. (Reliance) will acquire all outstanding shares of Metals USA Holdings Corp. (Metals USA) for $20.65 per share in cash, representing an enterprise value of approximately $1.2 billion. The transaction is expected to close in the second quarter of 2013. Metals USAs assets at December 31, 2012 and sales for the year then ended were approximately $1.0 billion and $2.0 billion, respectively. Upon completion of the acquisition, Reliance will have total assets of over $6.5 billion... More
Bernstein Downgrades National-Oilwell Varco (NOV) to Market Perform
February 5, 2013 7:11 AM ESTBernstein downgraded National-Oilwell Varco (NYSE: NOV) from Outperform to Market Perform.
For an analyst ratings summary and ratings history on National-Oilwell Varco click here. For more ratings news on National-Oilwell Varco click here.
Shares of National-Oilwell Varco closed at $70.17 yesterday, with a 52 week range of $59.07-$89.95.... More

