PSYS, OLP, EXLS, ITMN, AIG, FNM, FRE, PESI Popular Stocks
U.S. stocks trading higher Wednesday. The Dow Jones Industrial Average rising 0.04% to 10568, the S&P 500 increasing 0.45% to 1146 and the Nasdaq Composite climbing 0.75% to 2358.
Shares of Psychiatric Solutions Inc. (NASDAQ:PSYS, $28.35 +$4.44, 18.57%) surged more than 18% on Wednesday after media reports said the mental health hospital operator may be bought out by private-equity firm Bain Capital. The Wall Street Journal reported that the psychiatric hospitals operator was said to be seeking a 25 percent premium to its current market price from suitor Bain Capital.
One Liberty Properties (NYSE:OLP, $12.73, +$2.38, 23.00%) gains after the company said late Tuesday Q4 FFO was $0.49, up from a year ago. Revenue was $9.84 million, which compares to estimates for $9.59 million.
ExlService Holdings Inc’s (NASDAQ:EXLS, $17.05, -$0.43, -2.45%) fourth-quarter profit soared as losses from foreign currency translations fell, and the outsourcing firm forecast 2010 revenue above Wall Street expectations. ExlService Holdings, Inc. posted fourth-quarter net income of $7.5 million or $0.25 per share compared with $3.4 million or $0.12 per share in the same quarter last year. Revenues for the quarter increased to $59.4 million from 43.7 million in the previous year period.
Shares of InterMune Inc. (NASDAQ:ITMN, $37.90, +$14.60, 62.66%) rose at a blistering pace Wednesday, a day after a federal advisory panel voted in favor of approval for its experimental lung disease treatment.The FDA’s Pulmonary-Allergy Drugs Advisory Committee has voted 9-3 to recommend approval of Esbriet (pirfenidone) for the treatment of patients with idiopathic pulmonary fibrosis to reduce decline in lung function in terms of its safety.
Shares of insurance giant American Insurance Group (NYSE:AIG, $35.72, +$2.95, 9.00%) continued to rally today. AIG was up 13.95% today in early trading rising to $37.34 per share and mortgage financiers Fannie Mae (NYSE:FNM, $1.09, +$0.02, 1.87%) and Freddie Mac (NYSE:FRE, $1.29, +$0.01, 0.73%), have all jumped in recent days amid speculation that the government would restrict short-selling on companies that are partially owned by the government.
Perma-Fix Environmental Services, Inc. (NASDAQ:PESI, $2.32, +$0.16, 7.41%) today announced results for the fourth quarter and twelve months ending December 31, 2009. It posted earnings of $5.7 million, or 10 cents a share, compared with a year-earlier loss of $725,000, or 1 cent a share. The latest quarter included a $2.4 million tax gain. Net revenues for the quarter increased by 20.8% to $28.4 million from $23.5 million in the prior year period. Analysts expected revenues of $26.34 million for the quarter.