Edited By Ed Lin
MBIA /zigman2/quotes/205815173/composite MBI -1.44%
Shares of the bond insurer cratered 16% on news that Berkshire Hathaway /zigman2/quotes/208872451/composite BRK.A -1.10% was entering the sector. "Although press reports paint Berkshire Hathaway's entrance into the bond insurance industry as a negative for all incumbent bond insurers," wrote Friedman Billings Ramsey analyst Steve Stelmach, "we are unconvinced." But Standard & Poor's Equity Research analysts Stuart Plesser and Catherine Seifert noted that the viability of MBIA and rival Ambac Financial Group "is under question amid concerns about deteriorating capital levels."
Genesco /zigman2/quotes/203016164/composite GCO -6.45%
The shoe retailer saw shares jump more than 16% after a judge ruled that Finish Line cannot back out of an agreement to acquire Genesco, which operates stores including the Journeys and Johnston & Murphy brands. S&P Equity Research analyst Jason Asaeda wrote that "completion of the merger has been priced into Finish Line shares, which are trading at forward price/earnings and price-to-sales multiples well below peers." Finish Line is considering its options, including a potential appeal. Finish Line had agreed in June to buy Genesco for $1.5 billion in cash, or $54.50 per share, before getting cold feet in September.
Luby's /zigman2/quotes/206507565/composite LUB -3.10%
Fiscal first-quarter earnings at the restaurant operator were lifted by tax-related gains, sending shares up 4.7%.
Cal-Maine Foods /zigman2/quotes/201864009/composite CALM -1.73%
The egg supplier saw shares surge 5.7% on news of a strong fiscal second quarter. Cal-Maine cited "favorable market conditions, with egg prices reaching record levels during the quarter."