Market Overview

Market Roundup

Shares of ChinaCast Education Corporation (NASDAQ: CAST) gained about 0.70% after the company's board named Derek Feng as Chairman and interim Chief Executive Officer, effective immediately. Derek Feng will replace Ron Chan as Chairman and CEO.

Shares of China Petroleum & Chemical Corp (NYSE: SNP) gained about 1.55% after the company reported a 2% rise in its 2011 net profit. Sinopec's net profit for the period rose to CNY73.23 billion (US$11.6 billion), from CNY71.78 billion in 2010, as per international accounting standards. However, analysts were expecting a net profit of CNY76.63 billion. Sinopec's revenue climbed 31% to CNY2.51 trillion from CNY1.91 trillion. Sinopec's oil and gas producing operation reported an operating profit of CNY71.63 billion, up from CNY47.15 billion in the year-ago period.

Shares of Verisk Analytics Inc (NASDAQ: VRSK) gained about 2.20% after the company announced its plans to buy medical record company MediConnect Global Inc for $348.6 million. The deal is likely to close this month. It is also projected to add to VRSK's adjusted earnings this year.

Shares of Monitise PLC (OTC: MONIF) dropped about 3.83% after the company announced its plans to buy Clairmail Inc, a U.S. provider of mobile banking and payments for $173 million (GBP109 million). Clairmail's revenue surged 90% to $18 million (GBP11 million) in calendar 2011.

Shares of Comverge Inc (NASDAQ: COMV) declined about 7.45% after the company agreed to be bought by Peak Merger Corp, an affiliate of H.I.G. Capital LLC, for $1.75 per share in cash, or around $49 million in equity value. The offer price represents around 18% premium to Comverge's average closing price of $1.48 over the last 30 days.

Posted-In: Market RoundupNews Markets

 

Related Articles (CAST + COMV)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters