Heads have been turning at the tremendous trading day for Titanium Metals (TIE). The Texas-based company which specializes in the creation and distribution of titanium melted and mill products throughout the United States and Europe is currently trading up a whopping 42.31% at $16.47. This sharp uptick comes immediately after the firm revealed that it would be acquired by Precision Castparts for $2.9 billion. News of the acquisition sent the stock soaring as investors view it as a sign of strength for the metals market and for Titanium Metals (TIE) as a corporation.
Ryman Hospitality Properties Inc. (GET) is a holding company that specializes in hotel assets in resorts and city markets. The company is currently trading down 17.23% at $32.72. The sharp downturn in trading comes on the heels of the company announcing a special dividend of $6.84 per share. The company also revealed intentions of qualifying as a Real Estate Investment Trust (REIT) for federal tax purposes. Ryman Hospitality Properties (GET) disappointed many when I announced a second quarter net profit margin of -11.69% and an operating margin of -14.66%.
Manhattan-based firm Jefferies Group (NYSE:JEF) has had a strong trading day today. The company is currently trading up 12.05% at $15.99. Jefferies Group is a securities and investment banking firm that specializes in capital markets as well as asset management. The uptick in trading comes after the firm announced that it would be selling itself to Leucadia for $2.78 billion. Leucadia has for several months been one of Jefferies Group's (JEF) partners as it held 28.6% of the company's stock before the sale.
Gilead Sciences Inc. (NASDAQ:GILD) is having a great day both in trading and in the lab. The company announced the results of its Phase 2 electron study for its medical treatments for the Hepatitis C virus. The results were very promising: One hundred percent of those who tried the treatments reported no recurrences of the Hepatitis C virus after treatment. This positive news was reflected in the market. Gilead Sciences is trading up 11.52% on the day at $72.51.
Kronos Worldwide Inc. (NYSE:KRO) is a creator and distributor of Titanium dioxide pigments. The Texas-based firm is coming off of a second quarter that saw a net profit margin of 7.44% and an operating margin of 8.14%. After revealing third quarter results that were below analyst expectations, the stock has managed to trade quite strongly based on rising demand and prices for titanium. Currently Kronos Worldwide (KRO) is trading up 8.6% at $13.86.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.