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MARKET CURRENTS

  • 12:40 PM LipoScience (LPDX +3.4%) trades up today after announcing the availability of its NMR lipoprotein particle testing using the Vantera Clinical Analyzer through Mayo Medical Laboratories. The analysis provides physicians and patients with a detailed assessment of cardiovascular disease risk from a single blood test that measures the concentration of low-density lipoprotein particles and other lipoprotein information. Comment! [Healthcare, On the Move]
  • 12:38 PM ZAGG spikes 6.4% amid reports that Logitech (LOGI) is in acquisition talks, RANsquawk notes. Comment! [Breaking News, M&A, On the Move]
  • 12:30 PM Three lunchtime reads:
    1) Swaps vote is another big win for banks
    2) Buffett's magic touch may be irreplaceable
    3) Bernanke meets privately with Darrell Issa Comment!
  • 12:26 PM WPX Energy (WPX +4.1%) shares post their third straight strong gain, rising 14% so far this week from news that hedge fund Taconic Capital took a position in the company and said it was engaged with management to boost shareholder value. Comment! [Energy, On the Move]
  • 12:18 PM Morgan Stanley (MS) joins a big group raising money to invest in global infrastructure, reports Bloomberg, with plans to soon begin raising $4B for a fund. The new fund from MS Infrastructure Partners would be the same size as a 2008 fund, though the team there doesn't bear a ton of resemblance to what it looked like back then. Comment! [Financials]
  • 12:15 PM North American Energy (NOA +14.8%) is a turnaround story, Barron's writes, cutting costs, slashing spending, selling assets and paying down debt since CEO Martin Ferron joined last June. FrontFour Capital predicts shares could rise to $78 based on an enterprise value of 3.5x forecast 2014 EBITDA. Worth noting: Ferron has amassed 775K shares, a sign of his commitment and NOA's potential. 1 Comment [Energy, On the Move]
  • 12:12 PM Sensata Technologies (ST -3.4%) falls after announcing a public offering of 12.5M shares by its principal shareholder Sensata Investment Company, which held 35.4% of the ordinary shares prior to the sale and 28.4% after. (PR, prospectus) Comment! [Tech, On the Move]
  • 12:00 PM On the hour: Dow +0.7%. 10-yr -0.36%. Euro -0.3% vs. dollar. Crude -1.32% to $94.91. Gold -0.28% to $1373.75. Comment!
  • 12:00 PM After more than tripling since its (unloved) IPO 14 months ago, Nationstar Mortgage (NSM) is the subject of a glowing writeup in Forbes - "A jewel in Fortress' (FIG) portfolio." Mortgage servicing is recognized as a great business now and Nationstar - along with Fortress-owned Newcastle (NCT, NRZ) - Ocwen (OCN) and  Walter (WAC) are currently the favorites of the mortgage gorillas, Fannie and Freddie. Comment! [Financials]
  • 11:59 AM Chinese greenhouse vegetable producer and marketer Le Gaga Holdings (GAGA +10.8%) flowers after receiving a proposal from a consortium of investors (which includes the chairman and CEO) to take the company private for $4.01/share in cash, a 20% premium to Tuesday's close. (PR) 1 Comment [On the Move]
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TOP ARTICLES12:45 PM ET WEDNESDAY MAY 22
DIA 0.61%
SPY 0.57%
QQQ 0.24%
GLD 0.01%
ETF Movers
DXJ WisdomTree Japan Hedged Equity ETF 1.91%
BUND PIMCO Germany Bond Index ETF 0.74%

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