US Hot Stocks Friday (SKIL, IR, MOT)
US stocks pulled back today, as the Dow Jones Industrial Average dipped 1.4% to 10000, the S&P 500 dropped 1.3% to 1065 and the Nasdaq Composite fell 0.9% to 2157. Shares of SkillSoft (NASDAQ: SKIL), Ingersoll-Rand Co. (NYSE: IR) and Motorola Inc (NYSE: MOT) are being actively traded.
Ingersoll-Rand’s Q4 profits and guidance were short of the Wall Street forecasts due to weak demand for its heating and cooling systems. IR reported a 13.6% decline in sales from its largest unit, Climate Solutions. The company’s shares plunged 8% in early trading today.
SkillSoft has agreed to be acquired by a group of private-equity firms for $1.1 billion. SKIL announced that the price is a 26% premium to the average closing price over the year to Feb. 11.
Motorola announced its plans to split the company into two separate business units in 1Q11. One entity would include MOT’s mobile devices and home businesses, while the other will have enterprise mobility solutions and network businesses.
