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Market Update

U.S. Movers: Crocs, Cooper Tire, Cal-Maine, Mondelez, Vanguard


Author: Mukesh Buch
ticker.com
Last Update: 6:45 AM ET December 30 2013

11:15 AM New York Crocs said Blackstone plans to invest $200 million. Cooper Tire dropped merger plans with Apollo Tyres. Cal-Maine net surged 83% as sales jumped 8%. Mondelez sold a majority stake in its cookie and cracker business. Vanguard agreed to buy oil and gas assets for $581 million.

Crocs, Inc (CROX) surged 15.9% or $2.11 to $15.44 after the footwear and accessory maker said that Blackstone Group LP agreed to invest $200 million and received convertible preferred stock in three years and also won two board seats.

The company lowered its expected revenue for the fourth-quarter to the low end of the earlier range of $220 million to $225 million and diluted loss per share in the range of 20 cents to 23 cents.

Cooper Tire & Rubber Co (CTB) dropped 2.4% or 55 cents to $22.41 after the light and medium truck tire maker dropped its plans to merge with India-based Apollo Tyres Ltd.

Cal-Maine Foods Inc rose 11 cents to $60.36 after the shell eggs producer net sales in the second-quarter ending in November jumped 8% to $354.3 million.

Net income in the quarter surged 82.5% to $26.1 million or $1.08 per diluted share compared to $14.3 million or 60 cents.

Computer Services, Inc (CSVI) fell 25 cents to $32.50 after the technology solution provider said revenue in the third-quarter ending in November climbed 7% to $53.1 million.

Net income in the quarter grew 1.9% to $6.7 million or 47 cents a diluted share compared to $6.6 million or 45 cents.

Mondelez International Inc (MDLZ) increased 15 cents to $35.06 after the food and beverage products maker agreed to sell a controlling interest in its SnackWell''s cookie and cracker business to private equity firm Brynwood Partners.

Vanguard Natural Resources, LLC (VNR) gained 2.2% or 64 cents to $29.60 after the oil and gas property developer agreed to acquire natural gas and oil properties in the Pinedale and Jonah fields of Southwestern Wyoming for $581 million from an unnamed source.

The company anticipated the acquisition to be completed on or before January 31.

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