Stockhouse @ the Bell: Stocks up on U.S. manufacturing report, (LSI) (EXPE) (T.CR) active

Stockhouse Editorial
0 Comments| December 16, 2013


Today in the markets

U.S. stocks got a lift Monday from the Federal Reserve’s November report on industrial production , marking the biggest one-month gain in a year.

Canadian stocks also rose amid strong manufacturing data from the United States and Europe and major corporate acquisitions.

The S&P/TSX Composite advanced 58.71 points to 13,184.41, while the TSX Venture Exchange closed down 3.81 points at 890.66.

Active stocks included LSI Corp. (NYSE: LSI, Stock Forum), which jumped 38.5% to $10.96. Shares got a boost early Monday after Avago Technologies Ltd. (NASDAQ: AVGO, Stock Forum) agreed to buy LSI in a deal valued at $6.6 billion.

Expedia Inc. (NASDAQ: EXPE, Stock Forum) rallied 5% to $65.88 after analysts at UBS AG (NYSE: AG, Stock Forum) raised their target price from $70 to $74, while maintaining a buy rating.

Monster Beverage Corp. (NASDAQ: MNST, Stock Forum) shares surged 3.5% to $63.60  after analysts at Morgan Stanley (NYSE: ICB, Stock Forum) listed the stock as one of the top picks among householder and personal care and beverages category for 2014.

Shares in USEC Inc. (NYSE: USU, Stock Forum) plunged 60% to $3.51. The company said it expects to file a Chapter 11 petition in the first quarter of next year to meet the terms of its restructuring agreement, which calls for USEC to swap about $530 million in convertible notes scheduled to mature in 2014 with new debt and equity.

In Canada, Valeant Pharmaceuticals International, Inc. (TSX: T.VRX, Stock Forum) has a friendly deal to acquire Solta Medical, Inc. (NASDAQ: SLTM, Stock Forum), a California-based company that makes medical devices used in cosmetic surgery procedures.

The Montreal-area company's offer of US$2.92 per share for all of Solta's stock is valued at US$250 million, a 40 per cent premium to Friday's closing price on Nasdaq. Valeant rose 4% to $117.52. Solta soared 39.7% to $2.92.

Communications services company Wi-LAN Inc. (TSX: T.WIN, Stock Forum) entered into a patent assignment agreement with Panasonic Corp. (NYSE: PC, Stock Forum) in which Panasonic will give to a WiLAN subsidiary certain patents from Panasonic Automotive & Industrial Systems Co., one of Panasonic's internal companies. Wi-LAN shares edged down 1.2% to $3.29.

Oil and gas exploration whiz Crew Energy Inc. (TSX: T.CR, Stock Forum) announced a capital program of $246 million for 2014, focused on the development of liquids rich natural gas at Septimus, B.C. and light oil at Tower, B.C. Crew shares closed down 1.7% to $6.28.

For news about small stocks that made big moves in Monday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report


Tags: OIL & GAS E&P TELECOM SERVICES ENERGY SEMICONDUCTORS

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