Black And Decker and Avis Up As US Stocks Rise (BDK, SWK, HGSI, CAR, F, CIT)

According to Wallstreet Journal, US Stocks ended the day positively as indices finished high, the Dow went up 77 points to 9789.44, S&P500 grew to 1042.88, up 4 points, and NASDAQ Composite Index 2049.20, up 4 points.

Black and Decker (NYSE: BDK) set the pace as it rose 22% percent to $57.57 after their respective board agreed to acquisition where Stanley Works (NYSE: SWK) will be Buying Black and Decker for $4.5 billion in stock. In the deal, SWK agreed to give Shareholder 1.275 shares of their own stock for each BDK Stock.

Avis Budget Group (NYSE: CAR) rose 6.4% to $8.99 behind positive third quarter earnings. Avis beat analyst expectations as they improved pricing and removed a $1.3 billion write down which was weighing the company down a year ago.

Ford Motor Co (NYSE: F) moved up to $47.34 behind positive third quarter earnings as they slashed costs and posted profits in the North American Unit, First time in four years.

Human Genome Sciences Inc. (NASDAQ: HGSI) was one of the biggest winners as their shares rose to $25.28 or 35.28% after Benlysta, the drug they are working on with GlaxoSmithKline PLC (NYSE: GSK), passed second stage testing for the treatment of Lupus. GSK fell slightly with a price of $40.71 and a drop of 1.09%.

The greatest drop among the stocks was CIT Group (NYSE: CIT) whose stocks fell to $0.25 after they filed for Bankruptcy protection and shares will be suspended from NYSE before Tuesday’s opening.

The article can be read in full through Wall Street Journal.

http://online.wsj.com/article/BT-CO-20091102-715725.html