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.
Arrowhead Research Corp
) 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
) 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
) 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 Co’s commercial mortgage loans.
Commerce Bancshares, Inc
) 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
) 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
) 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
) 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%.