Wall Street traded higher Wednesday morning with the main indexes well in the green.
Among the stocks with upside movement, shares of Scana Corp. (SCG, Financial) traded more than 20% higher on news Dominion Energy Inc. (D) will buy the company in an all-stock deal. The combined company will serve millions of electric and natural gas distribution customers. Scana's shareholders will receive 0.669 Dominion common shares per each share they own, which represents $55.35 per share. The deal is valued at $14.6 billion. Customers of Scana's SCE&G subsidiary will be benefit because the transaction will offset any costs related to the withdrawal of operating licenses for the unfinished V.C. Summer nuclear reactors.
Gainers
- Advanced Micro Devices Inc. (AMD, Financial)
- Ulta Beauty Inc. (ULTA, Financial)
- Chipotle Mexican Grill Inc. (CMG, Financial)
- Expedia Inc. (EXPE, Financial)
- Celgene Corp. (CELG, Financial)
Losers
- Intel Corp. (INTC, Financial)
- Macy's Inc. (M, Financial)
- Omnicom Group Inc. (OMC, Financial)
- Harley-Davidson Inc. (HOG, Financial)
- Ralph Lauren Corp. (RL, Financial)
Global markets
The main European stock markets traded higher. The U.K.'s FTSE 100 jumped 0.30%, France's CAC 40 traded 0.81% higher, Germany's Dax gained 0.83% and Spain's Ibex 35 rose 0.37%.
In Asia, Japan's Nikkei 225 declined 0.08% and India’s BSE Sensex retreated 0.06%. Hong Kong's Hang Seng gained 0.15% and China's SSE Composite climbed 0.62%.
Disclosure: The author holds no positions in any stocks mentioned.
