LDK Solar and Ashland Tops in NYSE

The NYSE has shown some significant movement this morning as all of its indexes are showing gains. The NYSE Composites (^NYA) are up 47 points, while the NYSE international 100 (^NIN) is up over 56 points leading the way for the gains in the NYSE indices. Gains across the other indices include NYSE TMT(^NTM) 25 pionts, NYSE US 100 (^NUS) 24 points, and finally the NYSE World Leaders (^NWL) 39 points. Let’s take a look at a couple of NYSE stocks that have traders buzzing.

Ashland Inc. (NYSE:ASH) shares have risen $6.69 per share this morning to $67.73 with an intraday high $69.46 per share. Volume today has more than tripled from the average daily volume over the last three months. Ashland, the maker of Valvoline motor oil, announced an agreement to purchase the privately held International Specialty Products Inc.(ISP). The cash deal worth $3.2 billion is expected to add earnings immediately upon close to Ashland. ISP is a leading provider and supplier of specialty chemicals and performance-enhancing products for wide variety of products. This buyout will increase the depth of Ashland’s portfolio allowing the company to diversify its assets into less cyclical markets.

LDK Solar Co. Inc. (NYSE:LDK) shares have jumped this morning climbing $.53 per share to $7.55 with an intraday high of $7.75. Volume is up as well on the 7.5% gain that LDK solar has seen, with nearly 11 million shares having already exchanged hands. These gains come on news that German Chancellor Angela Merkel has vowed to close all 17 of the country’s nuclear power facilities. The move comes in the aftermath of the nuclear crisis experienced following the Japanese earthquake and subsequent tsunami. Eight of the 17 plants will closed immediately while the remaining 9 will be closed by 2022. This major announcement has led solar companies across the board to experience increase in their shares. The list of gainers includes: First Solar (Nasdaq:FSLR), JA Solar, (Nasdaq:JASO) and Trina Solar(NYSE:TSL)

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About Rachel Brook

Rachel Brook is an up and coming financial writer focusing on commodity price inflation and how the overall market reacts to the price swings. She also covers emerging markets in Africa and SE Asia.

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