Here’s what’s hot in the market today: major volume continued in News Corp. as its scandal woes deepened. Radiant Systems surged following an acquisition agreement. Wolverine Worldwide fell after reporting its second quarter earnings. Anheuser-Busch dropped after a strike threat. Clean Energy Fuels rose thanks to a new deal with Chesapeake Energy.
Radiant Systems (NASDAQ: RADS), the sales software company, was up almost 31% on more than 85 times normal trading on Tuesday morning. More than 29 million shares exchanged after the company announced that it had agreed to be acquired by NCR Corp. (NYSE: NCR) for $1.2 billion, or $28 per share.
News Corp. (NASDAQ: NWS) continued to see an unusually high volume of trading with the stock rebounding more than 1%, trading above $16. News Corp.’s acquisition of television channel BSkyB remains in question following the phone hacking scandal that saw the company’s flagship U.K. newspaper, News of the World, cease publication on Sunday.
Wolverine World Wide (NYSE: WWW) fell almost 10% on more than six times normal trading. The shoe manufacturer reported impressive second quarter earnings on Monday after the market closed. Revenue totaled $310 million, an increase of 20% over the same period in 2010. Shares were trading above $39.
Anheuser-Busch Inbev (NYSE: BUD) fell close to 2%, the second day of declines for the beer company. Union workers at the company’s distributor in Ohio threatened to go on strike after contract negotiations soured on Monday. Nearly 3 million shares were exchanged. Shares were trading just below $55.
Clean Energy Fuels (NASDAQ: CLNE) rose about 15% to trade near $15 as more than 4 million shares in the natural gas company were exchanged. Chesapeake Energy (NYSE: CHK) announced on Tuesday that it would invest $150 million in Clean Energy to help fund the building of new liquefied natural gas fueling stations for trucks.
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.
