GM Close To Selling Hummer Brand, Markets Open Up
On the upside
EMC offered approximately $1.8 billion to acquire Data Domain (Nasdaq: DDUP), topping NetApp's bid.
Converted Organics (Nasdaq: COIN) announced that May shipments of its organic fertilizer reached a record high of nearly a quarter million gallons.
Cameron International (NYSE: CAM) will acquire Natco Group (NYSE: NTG) for approximately $780 million in an all stock deal.
On the downside
Quantum (NYSE: QTM) extended the deadline for its tender offer of convertible subordinated notes.
International Petroleum Investment announced that it will sell 1.3 billion shares of Barclays(NYSE: BCS).
Cardinal Health (NYSE: CAH) will increase its quarterly dividend to 17.5 cents per share from 14 cents per share payable on July 15, 2009 to shareholders of record July 1, 2009.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 519.
