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Market Update

U.S. Movers: Apple, Heico, Microsoft, Navios, Wal-Mart

Author: Mukesh Buch
Last Update: 10:44 AM ET November 25 2013

10:40 AM New York Apple agreed to acquire Israel-based PrimeSense for $360 million. Heico raised its revolving credit facility to $1 billion. Microsoft sold more than 1 million Xbox One video-game consoles in less than a day. Wal-Mart elected McMillon as president and chief executive.

Apple Inc (AAPL) increased $4.58 to $524.25 after the smart-phone maker confirmed that it agreed to acquire Israel-based sensor maker PrimeSense Ltd. for about $360 million.

Heico Corp (HEI) slid 5 cents to $56.22 and the aircraft parts maker raised its $670 million revolving credit facility to $1 billion that can extended up to December 2018. Under the terms, $800 million is fully committed for funding at present and additional $200 million has committed to future.

Hastings Entertainment, Inc (HAST) climbed 4.6% or 10 cents to $2.30 after the multimedia entertainment retailer said revenue in the third-quarter ending in October dropped 6.5% to $94.7 million.

Net loss in the quarter narrowed to $6.2 million or 76 cents a diluted share compared to $8 million or 98 cents.

Microsoft Corporation (MSFT) rose 20 cents to $37.77 after the software products maker reported it sold more than one million Xbox One video-game consoles in less than a day after the launch of console in 13 countries.

The Xbox One was launched in Australia, Austria, Brazil, Canada, France, Germany, Ireland, Italy, Mexico, New Zealand, Spain, the U.K. and the U.S. and the company cut eight countries from the initial sales list, citing production issues.

Miller Energy Resources Inc (MILL) jumped 3.5% or 25 cents to $7.33 after the oil and gas explorer agreed to acquire the North Fork Unit and all assets from Armstrong Cook Inlet, LLC and the other working interest for $59.98 million in cash and $5 million in Miller''s Series D Preferred Stock.

The transaction is expected to close in the first quarter of 2014.

Navios Maritime Holdings Inc (NM) gained 2.2% or 17 cents to $7.84 after the shipping and logistics company reported revenue in the third-quarter ending in September declined 25.4% to $122.3 million.

Net in the quarter swung to a loss of $13 million or 13 cents a diluted share compared to income of $4.6 million or 4 cents.

Wal-Mart Stores Inc. (WMT) gained 39 cents to $80.20 after the retailer said its board elected Doug McMillon to succeed Mike Duke as its president and chief executive, effective February 1.

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