Market Overview

Market Roundup


Shares of Rimage Corp (NASDAQ: RIMG) dipped about 11.2% after the company lowered its fiscal fourth-quarter forecast. Rimage now projects a Q4 loss of $0.12 to $0.14 per share on revenue of around $22 million, versus its earlier forecast for a loss of $0.02 to earnings of $0.01 per share on revenue of $24 million to $26 million. Rimage reduced its full-year view to earnings between $0.31 and $0.33 per share on revenue of $84 million, versus its earlier forecast for earnings of $0.42 to $0.45 per share on revenue of $86 million to $88 million.

Shares of Bank of Hawaii Corp (NYSE: BOH) fell about 2% after the bank reported a 3.3% drop in its fourth-quarter earnings. Bank of Hawaii's quarterly profit fell to $39.2 million, from $40.6 million, in the year-ago period. Its per-share earnings climbed to $0.85 from $0.84, versus analysts' estimates of $0.82 per share. Bank of Hawaii's revenue dropped 5.5% to $139.7 million. However, analysts were expecting revenue of $142 million.

Shares of MineFinders Corp Ltd (AMEX: MFN) surged about 22.2% after Pan American Silver Corp (NASDAQ: PAAS) announced its plans to buy MineFinders Corp Ltd for about C$1.5 billion ($1.48 billion). The offer price of C$15.60 a share represents a 36% premium over Minefinders' closing price on Friday on the Toronto Stock Exchange.

Shares of Apache Corp (NYSE: APA) gained about 1.2% after the company announced its plans to acquire privately owned oil and gas company Cordillera Energy Partners III for $2.85 billion in a cash-and-stock deal. The deal is likely to close in the second quarter.

Shares of Mitsubishi Electric Corp (OTC: MIELY) gained about 1.1% after the company signed an accord to acquire India's Messung Group. Mitsubishi Electric targets to lift its sales in India to Y15 billion in the year ending March 2016. The financial value of the deal was not disclosed.

Posted-In: News Markets


Related Articles (APA + BOH)

View Comments and Join the Discussion!

Partner Center