IDT Corp. (IDT) The U.S. long-distance telephone services provider is overvalued and may drop below its current trading price of about $9 because of a loss in revenue and high overhead costs, Barron's said, without citing anyone. IDT fell 25 cents to $9.15.
KMG America Corp. (KMA) surged $2.12, or 61 percent, to $5.61 in after hours-trading after announcing it's being sold to Humana Inc. for $138 million. Humana said it will pay about $6.20 a share, a 36 percent premium over the average closing price for the past 60 trading days of shares of KMG, an insurance company based in Minnetonka, Minnesota.
Northrop Grumman Corp. (NOC) shares rose 67 cents to $78.40 after CNBC ``Mad Money'' host Jim Cramer said the third- largest U.S. defense contractor's stock will rise on strong growth and a share buyback program. ``It's so darn cheap that I believe it has to go higher,'' he said.
Veolia Environement SA (VE) The world's biggest water company may gain because of contracts it has won and strong earnings, Barron's reported, without citing anyone. The American depositary receipts, which each represent one ordinary share, fell 48 cents to $74.55.
Walt Disney Co.'s (DIS) shares rose 82 cents, or 2.4 percent, to $34.41 after it was recommended by Cramer, who said the second-largest U.S. media company is run by a ``great man'' and should be thought of as a ``new media'' company. Robert A. Iger, the company's president and chief executive officer, was a guest on the show.
XTO Energy Inc. (XTO) The U.S. oil and gas driller is undervalued at about $56 because of its high oil reserves and a business strategy of buying energy producers in the U.S. to increase their output, Barron's reported, without citing anyone. XTO fell $1.14 to $56.14.
Watch LDK, OII, CAF for long breakouts.Watch NCC, WYE, MCO, MTG, MMC for short breakdowns.
-MM
