Monday, March 18, 2013 4:41 pm
Office Depot, Suntech, Panasonic are big movers
The Associated Press
Office Depot Inc., up 6 cents at $4.07
A KeyBanc Capital Markets analyst upgraded shares of the office supplies retailer to a "Buy," citing its merger with OfficeMax Inc.
Panasonic Corp., up 21 cents at $7.37
Japanese newspaper Nikkei reported that the electronics maker may sell its TV unit. Panasonic said that "nothing has been decided."
The Greenbrier Cos. Inc., up 46 cents at $21.93
A Stifel analyst upgraded his stock rating on the railcar company to "Buy" from "Hold" and set a price target of $26.
Suntech Power Holdings Co. Ltd., down 6 cents at 64 cents
The Chinese solar panel manufacturer said it defaulted on a $541 million bond payment as the global solar industry struggles.
Sterling Construction Co. Inc., down 43 cents at $10.61
The contractor for road, water and sewer projects posted a profit in the fourth quarter, but its results missed expectations.
Palomar Medical Technologies Inc., up 55 cents at $13.17
Cynosure is buying Palomar in a $294 million deal. Both companies make cosmetic laser and intense pulsed light systems products.
STMicroelectronics NV, up 27 cents at $7.91
Up to 1,600 workers will be laid off as the chipmaker and Swedish wireless equipment maker Ericsson end a joint venture.
Edac Technologies Corp., up $1.26 at $17.70
The aerospace company agreed to sell itself to an affiliate of private equity firm Greenbriar Equity Group for about $93.2 million.