By: Jon "DRJ" Najarian
$16.7 Billion Offer Rejected
Cadbury (CBY), the world's largest confectioner, has been moving higher after receiving a $16.7 billion offer from Kraft Foods (KFT) Monday. Kraft said it would pursue the acquisition despite the British company's rejection of the offer. That has left KFT falling, as it closed at $28.10 Friday but trades down to $26.41 in the pre-market on our Depth Charge.
McDermott Trading Higher
Credit Suisse upgraded shares of the global engineering and construction company to "outperform" from "neutral." The industry has been performing well as energy and power generation has recovered quickly. CS expects further growth in nuclear as a potential catalyst and raised its target for McDermott International to $31 from $27. MDR closed Friday at $24.75 but is trading higher by more than $1 to $25.77 this morning.
Nice Systems Gets Upgrade
UBS upgraded shares of the multimedia enterprise company to "buy" from "neutral" this morning, sending shares higher. NICE closed at $30 on Friday but are up $0.40 in the pre-market.
(Chart courtesy of tradeMONSTER)