U.S. stocks were trading higher on Wednesday on 1st Sep, 2010 at 3:32PM EDT as the Dow Jones Industrial Average rose 223 points to 10237, the Standard & Poor’s 500 jumped 28 points to 1077 and the Nasdaq Composite climbed 56 points to 2170.
Foodmaker H.J. Heinz Co. (NYSE:HNZ, $46.33, +$0.09, 0.20%) on Wednesday reported its fiscal first quarter profit rose 13 percent from last year, helped by stronger sales in Asia. Heinz reported first-quarter net income of $240.4 million, or 75 cents per share, compared from $212.6 million, or 67 cents per share in the same quarter a year earlier. Revenue rose 1.6 percent to $2.48 billion from $2.44 billion in the prior year.
Mining equipment manufacturer Joy Global Inc. (NASDAQ:JOYG, $59.42, +$2.88, 5.08%) on Wednesday reported that its net income slid nearly 5 percent in the third quarter as sales slipped. Joy Global reported third-quarter net income slipped to $119 million, or $1.13 per share, compared from $124 million, or $1.21 per share in the same quarter a year earlier. Revenue fell 11 percent to $850 million from $956.4 million in the prior year.
Shares of InoLife Technologies, Inc. (OTC:INOL, $0.0977, +$0.0950, 3,518.52%), a service based healthcare products development, integration and marketing Company, rose more than 3,518 percent today after company announced it will provide and market a proprietary metabolizing test to physicians and practitioners to identify how a patient’s genetic makeup may affect the body’s response to Plavix (colpidogrel). The test will only be made available to physicians.
Shares of Sunrise Senior Living Inc. (NYSE:SRZ, $3.66, +$1.45, 65.61%) rose Wednesday, a day after HCP Inc. reported that it reached a $50 million deal to terminate the contracts on 27 of the 75 senior housing communities owned by the health-care real-estate investment trust but managed by Sunrise Senior Living Inc.
Pennsylvania human resources firm Kenexa Corp. has agreed to acquire compensation and talent management solutions provider Salary.com (NASDAQ:SLRY, $4.09, +$1.23, 43.01%) for approximately $80 million in a cash-for-stock. The purchase price works out to $4.07 per share.
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