+$1.25
5.7%
Shares of Strategic Hotels & Resorts Inc. climbed to $23.35. The Chicago-based real-estate investment trust that manages luxury hotels in North America and Europe was raised to “outperform” by Wachovia Capital Markets LLC. Friday, an analyst said it might be the target of buyout firms.
-$1.55
48.3%
Shares of New Century Financial Corp. plunged to $1.66 after it said its lenders claim it’s in default and are demanding accelerated payments. The company said it lacks cash to meet those demands. Other lenders also fell. NovaStar Financial Inc. slumped $1, or 19.1 percent, to $4.24.
+$4.29
25.6%
Dollar General Corp. stock jumped to $21.07. The company, which operates 8,260 discount stores in rural towns, said it agreed to be bought by Kohlberg Kravis Roberts & Co. for about $6.9 billion. KKR will also assume about $380 million in debt.
+$3.52
4.6%
Express Scripts Inc. stock rose to $80.59. The company nation’s third-largest manager of drug benefits for employee health plans said it won’t raise its $26.1 billion hostile takeover bid for rival Caremark Rx Inc. Merrill Lynch & Co. boosted the stock’s rating to “buy” from “neutral.”
+$0.46
10%
Imax Corp. stock increased to $5.08. The biggest maker of large-screen movie theaters created a joint venture with Regal Entertainment Group and plans to build two new theaters in cineplexes owned by Regal in San Diego and Portland, Ore.
