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  • Major Market Movers Today - BHP, POT, WMT, OSTE, BSPM, PTV

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    Tuesday Aug 17, 2010, 03:56 pm EST
     
    Today was a Great day for Stock Market after 4 Days of Decline
     
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    BHP - BHP Billiton Limited(ADR) (NYSE:BHP)
    BHP Billiton launched an unsolicited $38.6 billion takeover bid for Potash Corp, an offer that the world's largest fertilizer maker promptly rejected on Tuesday as "grossly inadequate'.
     
    POT- Potash Corp./Saskatchewan (USA)(NYSE:POT)
    BHP offered $130 per share in cash for each share of Potash which is a premium of just 16% to its Monday closing price of $112.15 on the NYSE. BHP's bid is higher than its 52-week high of $128.42, but much below the company's all-time-high of around $240 a share. Shares of potash corp. gained early in trading on expectations of a higher bid.


    WMT - Wal-Mart Stores, Inc.(NYSE:WMT)
    Wal-Mart announced that its 3rd quarter earnings on Tuesday. EPS from continuing operations would be 87 cents to 91 cents, compared with an adjusted 82 cents per share last year. It also boosted its full-year earnings guidance to $3.95 to $4.05 per share, up from its previous $3.90 to $4 per-share guidance. Shares gained in early trading.

    OSTE - Osteotech, Inc.(NASDAQ:OSTE)
    Medtronic Inc (MDT.N) announced that it will buy orthopedic products maker Osteotech (OSTE.O) for about $120 million to add regenerative medicine to its biologics portfolio. The $6.50 per share cash offer from the, represents a premium of 65 percent over OSTE's Monday close of $3.94 on Nasdaq.

    BSPM - Biostar Pharmaceuticals, Inc.(NASDAQ:BSPM)
    Biostar Pharmaceuticals, Inc. (BSPM) Tuesday reported an increase in second quarter profit to $5.58 million or $0.20 per share from $3.86 million or $0.16 per share last year. Also Adjusted Non-GAAP net income was increased to $5.8 million from $3.9 million a year earlier. Adjusted profit per share was $0.21 versus $0.16 a year ago.

    PTV - Pactiv Corporation (NYSE:PTV)

    Reynolds Group Holdings Ltd announced that they will be buying Pactiv Corp (PTV.N) for about $6 billion, further consolidating the competitive food packaging industry and uniting two iconic brands under one banner
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