Oct 22, 2009 (MarketNewsVideo.com via COMTEX News Network) -- Harvest Energy Trust (HTE) announced it will be acquired by Korea National Oil Corporation, for 10 Canadian dollars per unit in cash, or 1.8 billion dollars total. Korea National Oil will also assume Harvest's approximately 2.3 billion Canadian dollars of debt. Also announced this morning, Citigroup upgraded shares from sell to buy. Harvest shares gained about 32% Thursday morning.
Manufacturer Standex International (SXI) reported its quarterly results, sending shares soaring than 20%. Although sales declined a little under 16% year over year, the company's margins improved, and earnings came in at 78 cents per share. That compares to 40 cents in the same quarter last year.
And shares of the New York Times Company (NTY) jumped more than 16 and a half percent on strong earnings. The company reported a 30% year over year surge in operating profit, a 21.6% decline in operating costs, and earnings per share from continuing operations excluding special items of 16 cents per share, up from 5 cents in the same quarter last year. On a GAAP basis, the company lost 25 cents per share, compared to an 80 cent loss in the same quarter last year.
The preceeding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=200910BigGainers102209&mv=1.
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