Mid-Day Update: Here's What's Happened So Far

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  • DJIA up 17 points or 0.16% to 11,014
  • NASDAQ up 3 points or 0.14% to 2457
  • S&P 500 up 2 points or 0.22% to 1197

Today’s Big Winners Thus Far:

  • Javelin (JAV), up 61.9%
  • DynCorp (DCP), up 48.84%
  • Ambac Financial Group (ABK), up 46.36%

Today’s Big Losers Thus Far:

  • Entorian Technologies Inc (ENTN), down 28.89%
  • Emrise Corp. (ERI), down 14.71%
  • Quality Distribution Inc. (QLTY), down 12.82%

Futures Update:

  • Crude Oil up .21%
  • Gold up .27%
  • Palladium up 1.72%

Now here’s what you need to know:

  • Javelin (JAV) is up on the news that a rival has put in a stronger takeover bid. The bid, from Hospira Inc., is worth $141 million, $60 million more than Myriad Pharmaceuticals Inc.’s previous bid, according to WSJ.com.
  • The private equity firm Cerberus has had its bid accepted by the defence manufacturer DynCorp (DCP.N) for $1.5 billion takeover, according to Reuters.
  • President and Chief Operating Officer Ajay Banga of MasterCard is set to become the firm’s CEO. He recently worked for Citigroup, before moving to MasterCard in August 2009.
  • California Pizza Kitchen (CPKI.O) is considering selling itself. It has hired investment back Moelis & Company to handle any potential deal, according to Reuters.
  • China’s foreign reserves are up 25% over last year and are now up to $2.45 trillion. Reserves rose by $47.9 billion in the first quarter of 2010.

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