Zoran, Primo Water, Newcastle Pace The Markets Gains

The Markets are posting gains this morning looking to see its first weekly gains after a six week losing streak. All of the major indexes are up this morning with down climbing 75 points. The Nasdaq and S&P 500 have climbed as well rising 8 points each. The rebound today comes on news that Germany is planning on helping to bailout Greece with its debt crisis. There has also been a report that an index of the leading economic indicators rose .8% to lead analyst to believe that we are in a period of slow recovery after the index had dropped in April. There are several stocks performing well today lets see who heads that list.

Zoran Corporation (Nasdaq:ZRAN) shares are up this morning climbing 17% to $8.43 per share. Volume is up as well and is trading ten times more than the average on news that CSR PLC has agreed to a reduce purchase price of $484 million for the chip maker. The price has been reduce 30% after Zoran’s deteriorating performance and Cisco’s decision to abandon the Flip Video Camera. The deal calls for CSR to pay ZRAN $6.26 cash and .589 shares for each Zoran share. The original deal called for CSR to pay $9.19 per share.

Primo Water Corporation (Nasdaq: PRMW) share are up 16% this morning to $13.10 per share. Volume for PRMW is up as well on news that the company has announced pricing for a public offering of nearly 6 million shares. The shares being sold consist of 3,421,369 to be sold by Primo and 2,578,631 shares being sold by other entities at a public price of $11.26 per share. The offering is expected to close on or about June 22, 2011.

The final big mover of the day is Newcastle Investment Corporation (NYSE:NCT) which has climbed 28% to $5.64 per share. Volume has more than double today on news that Newcastle has declared a quarterly dividend of $.10 per share for the second quarter. The dividend is payable on 29th of July to shareholders of record on July 5th.The board of directors also declared a dividend for the company’s series B,C,D stock.

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