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Corporate Summary

•    Shares of Lufkin Industries, Inc. (NASDAQ:LUFK) surged 37.6% after General Electric Company (NYSE:GE) agreed to purchase Lufkin. The deal is valued at around $3.3 billion or $88.50 per share

•    Avon Products, Inc. (NYSE:AVP) rose 1.7% after it announced it reducing over 400 jobs and quitting Ireland. These steps were taken in accordance with a  $400 million cost-cutting plan

•    Shares of Advanced Micro Devices, Inc. (NYSE:AMD) surged 13.1% following a Bloomberg report according to which AMD’s chips will be used by Microsoft Corporation (NASDAQ:MSFT) for their next Xbox

•    AZZ Incorporated (NYSE:AZZ) reported fourth quarter earnings per share of $0.50, beating the Zacks Consensus Estimate of $0.49
 

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