NEW YORK (CNNfn) - Corporate buyouts sent several stocks soaring Tuesday while financial disappointments pushed a series of shares lower.
In one of the session's biggest surges, stock in Vivid Technologies (VVID), a maker of bomb detection devices, soared 49 percent after saying EG&G Inc. (EGG), which makes of X-ray security systems, will buy Vivid in a $62.5 million deal.
Shares of Woburn, Mass.-based Vivid rose 1-3/4 to 5-5/16.
Similarly, stock in MCN Energy Group (MCN) catapulted 37 percent after saying DTE Energy Co. (DTE) will acquire the natural gas utility in a $2.6 billion deal.
Detroit-based MCN shares rose 6-5/8 to 25-5/16.
But stock in Concur Technologies Inc. (CNQR) plunged 58 percent after the software maker warned that fiscal fourth quarter revenue would fall about 30 percent below expectations.
Shares of Redmond, Wash.-based Concur dropped 19 to 13-7/8.
Similarly, shares of software maker ShowCase Corp. (SHWC) fell 57 percent after warning of fiscal second quarters losses of $1.6 million to $1.8 million.
Stock in Rochester, Minn.-based ShowCase lost 5-7/8 to 4-1/16.
But shares of TiVo (TIVO), which makes a device for personalizing television programming, continued their strong run.
After gaining by triple digits in its debut Thursday, stock in Sunnyvale, Calif.-based TiVo rose 11-9/16, or 25 percent, to 58-1/8 Tuesday.
Mattel (MAT) shares, meanwhile, staged a partial comeback. Stock in the toy maker dropped nearly 30 percent Monday after warning problems at its Learning Co. software unit will lead to lower-than-expected third-quarter earnings of approximately 30 to 40 cents per share.
But investors rushed in Tuesday, sending
stock in the El Segundo, Calif.-based Mattel up 1, or 8 percent, to 44-11/16. Nearly 9 million shares changed hands, making Mattel the second most traded issue on the New York Stock Exchange.
Gold stocks, meanwhile, rose following gains in the price of the precious metal. In New York, gold for December delivery jumped $8 to $326 an ounce.
A series of gold stock followed suit. Meridian Gold (MDG) climbed 11/16, or 8 percent, to 9-1/16. Coeur d'Alene Mines Corp. (CDE) rose 1/4, or 5 percent, to 5-3/8. Sunshine Mining (SSC) jumped 3/16, or 8 percent, to 2-1/2.
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