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Market Update

Builders FirstSource, Blackstone Mortgage, JetBlue Soar; Fossil Drops

Author: Mukesh Buch
Last Update: 1:06 PM ET April 13 2015

1:00 PM New York Builders FirstSource agreed to acquire its rival ProBuild for $1.63 billion. Blackstone Mortgage Trust plans to sell public offering of 17.5 million shares. Commerce Bancshares net declined 9%. Fossil dropped. JetBlue traffic in March climbed 9.2%.

Tollbooth Index gained 0.2% or 18.58 to 10,761.90.

Earnings Review

Arrowhead Research Corp (ARWR) jumped 3.5% or 28 cents or $8.19 after the bio therapeutic drugs maker said that the U.S. Food and Drug Administration approved to continue with a multiple doses Phase 2b study of ARC-520 for the treatment of chronic hepatitis B infection at clinical stage.

Builders FirstSource, Inc (BLDR) surged 55.1% or $3.80 to $10.70 after the building products maker agreed to acquire its rival and privately held professional building materials supplier ProBuild Holdings LLC for $1.63 billion in cash.

The transaction is expected to close in the second-half of this year.

Blackstone Mortgage Trust Inc (BXMT) climbed 4.1% or $1.25 to $31.43 after the real estate developer plans to sell public offering of 17.5 million shares and raise funds to acquire General Electric Cos commercial mortgage loans.

Commerce Bancshares, Inc (CBSH) gained 1.8% or 76 cents to $42.62 after the health insurance and financial services provider reported net interest income in the first-quarter ending in March dropped 4.4% to $153 million from a year ago period.

Net income in the quarter declined 8.5% to $58.8 million or 61 cents per diluted share compared to $64.3 million or 64 cents from the same quarter last year.

Fossil Group Inc (FOSL) dropped 2.4% or $2.04 to $83.28 on the new competition from Apple Inc.

Apple said online orders on Friday last week jumped to 957,000.

The Habit Restaurants, Inc (HABT) gained 1.8% or 57 cents to $31.57 after restaurant and bar operator priced its 5 million shares offering at $30.96 per share.

JetBlue Airways Corporation (JBLU) soared 6.1% or $1.16 to $20.20 after the airline said traffic in March climbed 9.2% to 3,537,850 passengers and load factor jumped 2.4 percentage point to 87.2%.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc