Stock Poppers: Mead Johnson Nutrition’s Revenge, Gambling Shares Attract Legalization

Thanks to an article in the Wall Street Journal announcing that word from the Department of Justice “opens the door” for states to allow a variety of legal online gambling formats, International Gaming Technology Corp. (NYSE:IGT) has seen a rise in shares. The news also raised the fortunes of other gaming-related stocks, including MGM Resorts International (NYSE:MGM) (with a 5% rise), PokerTek Inc. (NASDAQ:PTEK) (up 30%), and Scientific Games Corp. (NASDAQ:SGMS) (climbing almost 13%).

Profits up more than 50% in Cal-Maine Foods Inc.’s (NASDAQ:CALM) second quarter resulted in an a nearly 5% rise for the egg supplier’s shares.

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Oil and gas firm Magnum Hunter Resources Corp’s (NYSE:MHR) has seen a 17% climb in shares following an elevated production outlook for the coming year.

Good news from an FDA investigation in which tests of its baby formula did not turn up any bacteria brought more good news to Mead Johnson Nutrition Co. (NYSE:MJN), in the form of a 6.7% rise in the company’s shares.

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Endeavor International Corp.’s (AMEX:END) announcement of an agreement to purchase a portion of three oil fields from ConocoPhillips (NYSE:COP) for $330 million has resulted in an 18% boost to shares.

In a $170 million arrangement, Perfumania Holdings Inc. (NASDAQ:PERF) will purchase fragrance producer Perlux Fragrances Inc. (NASDAQ:PARL). Shares of the former dropped nearly 29%, while Perlux benefited from a surge in shares following the news.

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To contact the reporter on this story: Brooke Edge at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com