Shares of Marathon Petroleum Corp. (NYSE: MPC), a Findlay, Ohio-based company engaged in the refining, transportation and marketing of petroleum products in the U.S., are soaring in trading today. At last check, MPC shares were trading 7.56% higher at $59.02 on above average volume of 3.20 million. The stock hit a 52-week high of $60.04 in trading today.
MPC shares are soaring in trading today after the company announced that it entered into a definitive agreement to acquire BP’s 451,000 barrel per calendar day Texas City refinery and related logistics and marketing assets. Marathon Petroleum CEO Gary R. Heminger noted that the world-scale refinery and related assets complement MPC’s current geographic footprint and align well with the company’s strategic initiative of growing in existing and contiguous markets to enhance its portfolio.
Shares of Acacia Research Corporation (NASDAQ: ACTG), a Newport Beach, California-based company engaged in the acquisition, development, licensing and enforcement of patented technologies, are down sharply in trading today. At last check, ACTG shares were trading 4.81% lower at $23.92 on volume of 286,542. The stock hit an intra-day low of $23.90 in trading today.
Shares of CarMax Inc. (NYSE: KMX), a retailer of used cars, are up sharply in trading today. At last check, KMX shares were trading 8.50% higher at $31.67 on above average volume of 3.52 million. The stock hit an intra-day high of $33 in trading today.
KMX last month reported its financial results for the second quarter ended August 31, 2012. The Richmond, Virginia-based company reported net sales and operating revenue of $2.76 billion for the second quarter, representing an increase of 7% over the same period in the previous year. The company’s used unit sales in comparable stores climbed 5%, while total used unit sales rose 8%. The company reported net earnings of $111.6 million, or $0.48 per share for the second quarter, compared to $111.2 million, or $0.48 per share reported for the same period in the previous year.
Shares of Progress Software Corporation (NASDAQ: PRGS), an enterprise software company offering a portfolio of real-time software solutions, are sinking in trading today. At last check, PRGS shares were trading 12.50% lower at $18.80 on above average volume of 727,716. The stock hit an intra-day low of $18.59 in trading today.
PRGS shares are sinking in trading today after the company announced that its President and CEO, Jay Bhatt will step down in December 2012. Bhatt will also resign as a Director of PRGS. Phil Pead, Executive Chairman of the Board of Directors, said that the Board believes that PRGS is on the right path and is committed to continuing to execute on the company’s strategic plan to boost growth, profitability and shareholder value.
Shares of Qlik Technologies Inc. (NASDAQ: QLIK), a provider of business intelligence solution, are soaring in trading today. At last check, QLIK shares were trading 7.32% higher at $20.53 on volume of 1.20 million. The stock hit an intra-day high of $20.84 in trading today.
QLIK today announced that it will release its third-quarter financial results on Thursday, October 25, 2012 after-market close.
Shares of VirnetX Holding Corporation (AMEX: VHC), a company engaged in the business of commercializing a portfolio of patents, are down sharply in trading today. At last check. VHC shares were trading 6.92% lower at $23.93 on volume of 651,858. The stock hit an intra-day low of $23.41 in trading today.
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