Notable ETF Movers of the Day 02/06: (XME) Higher; (OIH) (IBB) Lower

Go back to Notable ETF Movers of the Day 02/06: (XME) Higher; (OIH) (IBB) Lower

Reliance Steel (RS) to Acquire Metals USA (MUSA) for $20.65/Share

February 6, 2013 8:31 AM EST

Reliance 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 EST

Bernstein 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