Here’s what’s hot in the market today: BJ’s exploded after an acquisition bid from Leonard Green and CVC while the Shaw Group fell following its quarterly earnings report. Lindsay Corp. bumped after announcing its earnings and a Brazilian food retailer jumped following news of a merger and international expansion. WebMD continues its downward slide.
BJ’s Wholesale (NYSE: BJ) was up nearly 5% to top $50 on more than 34 million shares. CVC Capital Partners and Leonard Green & Partners LP announced they would acquire the warehouse-club retail chain for $2.8 billion, or $51.25 per share.
Companhia Brasileira de Distribuicao (NYSE: CBD), the Brazilian food retailer, was up more than 2% to nearly $48 on more than 10 million shares traded. The company has been on a steady uptick since Tuesday morning after it was revealed that Brazilian investment bank BTG Pactual may merge CBD with Carrefour SA to form a new food retail chain that will expand beyond Brazil.
The Shaw Group (NYSE: SHAW) fell more than 9% to $29.30 on around 5.4 million shares. The oil company contractor and equipment manufacturer has declined since the May but took a significant hit today after reporting its fiscal third quarter results. Shaw reported a net loss of 89-cents per share, a dip from the loss of 79-cents per share during the same period in 2010.
WebMD Health (NASDAQ: WBMD) fell more than 2% to just above $44. The web-based medical services company will not deliver its second quarter results until Aug. 1. It said it expects to report revenues greater than $140 million for the quarter, in line with analyst predictions.
Lindsay Corporation (NYSE: LNN), the manufacturer of irrigation systems for agricultural firms, was up more than 5% to top $69 on more than three times normal trading. Lindsay reported a strong quarter for the period ended May 31with total revenues jumping to $153 million, an increase of 53% over the same time in 2010.
As of this writing, Anthony John Agnello did not own a position in any of the stocks named here. Follow him on Twitter at @ajohnagnello and become a fan of InvestorPlace on Facebook.
