M&A News Fails To Boost Stocks

Anadarko Petroleum
(
APC |
Quote |
Chart |
News |
PowerRating) announced a deal to buy Kerr-McGee
(
KMG |
Quote |
Chart |
News |
PowerRating)
and Western Gas Resources
(
WGR |
Quote |
Chart |
News |
PowerRating) for $21.1 Bln, providing a boost to
the energy sector and oil service stocks in particular. The Anadarko news
overshadowed Energy Partners
(
EPL |
Quote |
Chart |
News |
PowerRating) deal to acquire Stone Energy
(
SGY |
Quote |
Chart |
News |
PowerRating) for $2.2 Bln, which included Stone Energy terminating its deal with
Plains Exploration And Production
(
PXP |
Quote |
Chart |
News |
PowerRating).

The Commerce Department reported the Durable Goods Orders declined by 0.3% in
May (report).

Treasuries closed lower for the eighth consecutive day. Fed Funds futures are
currently pricing in an 88% probability of 25 bps and a 12% probability of 50
bps at next week’s FOMC meeting (full
story).

The US Dollar Index rose for the second straight day.

Energy Partners
(
EPL |
Quote |
Chart |
News |
PowerRating) To Acquire Stone Energy
(
SGY |
Quote |
Chart |
News |
PowerRating) For
$2.2 Bln, Stone Terminates Deal With Plains Exploration And Production
(
PXP |
Quote |
Chart |
News |
PowerRating)
(full
story).

Health Management Associates
(
HMA |
Quote |
Chart |
News |
PowerRating) Guides Q2 EPS Below Estimates;
Trims FY06 Outlook; Announces $250-mln Share-repurchase Plan (full
story).

Allergan
(
AGN |
Quote |
Chart |
News |
PowerRating) Gets FDA Nod For Eye Drop LUMIGAN As First-line
Treatment (full
story).

Endo Pharma
(
ENDP |
Quote |
Chart |
News |
PowerRating) Gets FDA Nod For Painkiller Formulations; Cuts
FY06 Outlook; Stock Up 13% (full
story).

Sepracor
(
SEPR |
Quote |
Chart |
News |
PowerRating) Presents LUNESTA Phase IIIB/IV Study Data (full
story).

Economic
News

For more reports and analysis go to our
Economic
News section.

Ashton Dorkins

editor@tradingmarkets.com