US HOT STOCKS: EF Johnson, NRG Energy, PPL, Synaptics -2-

21st Jun 2010 15:36

Dry-bulk shipping company Diana Shipping Inc. (DSX, $12.77, +$0.19, +1.51%) has agreed to buy two new ships from an undisclosed third party for $91 million as those that are strong in the industry continue to build their fleets. EFJohnson Technologies Inc. (EFJI, $1.43, +$0.40, +38.83%) said it has agreed to a new price of about $40.2 million in its buyout by Francisco Partners, a 43% increase from their previously agreed deal. EFJohnson, which makes portable radios and other communications gear for the military and public-safety workers, said it will now be bought for $1.50 a share, a 46% premium to Friday's close of $1.03. Online-travel company Expedia Inc. (EXPE, $21.29, +$0.32, +1.53%) said it will add 130 new jobs to its Las Vegas operations by the end of the month, bringing the total there to 500 employees. The company is taking advantage of incentives under the federal Hiring Incentives to Restore Employment Act, designed to create or restore jobs for unemployed individuals. Hess Corp. (HES, $56.83, +$0.65, +1.16%) said it will acquire additional interests in two Norwegian North Sea oil fields from Total SA (TOT, $50.65, +$0.83, +1.67%) for $496 million. Hess exercised a right to pre-empt a sale of the interests to BP PLC (BP). ITT Corp. (ITT, $49.16, +$0.63, +1.29%) has agreed to buy Godwin Pumps, a privately held renter of automatic self-priming pumps, for $585 million. Godwin, which has a fleet of more than 6,000 rental pumps used by a host of sectors, expects revenue to jump 18% this year to $235 million. It has 800 employees in the U.S. and England. NRG Energy Inc. (NRG, $24.23, +$0.59, +2.50%) has agreed with private-equity firm ArcLight Capital Partners LLC to buy a portfolio of solar development projects for an undisclosed amount. The acquisition nets NRG a portfolio of projects ranging from 20 megawatts to 99 megawatts on nine sites in California and Arizona. PPL Corp. (PPL, $25.46, -$0.60, -2.30%) said it has arranged a "significant portion" of its financing for its $7.6 billion acquisition of E.ON AG's (EOAN.XE) U.S. operations. The utility company said it will sell at least 90 million shares and a minimum $1 billion of so-called equity unit securities to help fund the deal, announced in April. Science informatics software company Symyx Technologies Inc. (SMMX, $5.49, -$0.06, -1.01%) said its board has decided a $200 million buyout offer from a group led by Certara Corp. isn't superior to the $183 million deal it has in place with Accelrys Inc. (ACCL, $6.80, +$0.04, +0.59%). Collins Stewart raised its stock-investment rating on Synaptics Inc. (SYNA, $29.63, +$1.59, +5.67%) to buy from hold. It said its channel checks indicate the company, which designs and sells interfaces for portable electronic devices, has regained meaningful market share in touch-screen smartphones. Tongjitang Chinese Medicines Co. (TCM, $4.08, -$0.05, -1.21%), a Chinese specialty pharmaceutical company, said its first-quarter revenue increased 26% in local currency as it expanded into community hospitals, though its loss widened. -By Dow Jones Newswires; write to [email protected] (END) Dow Jones Newswires June 21, 2010 10:36 ET (14:36 GMT)