In this report: Toll Brothers (NYSE:TOL), PartnerRe (NYSE:PRE) and Alliant Energy Corp. (NYSE:LNT).
Toll Brothers (NYSE:TOL) traded slightly higher on Monday after the company announced that it would be expanding into a new state through the acquisition of Seattle builder CamWest Development, the first sign of growth since the days of the housing boom. No price was disclosed for the acquisition. The company’s CEO stated that the company has been monerating the Seattle market for years but the acquisition does not represent the start of a broader expansion plans. Toll said that it expects the deal to add to its earnings during the 2012 fiscal year. Toll Brothers closed at $18.98 per share on Monday.
PartnerRe (NYSE:PRE) traded over a percent higher on Monday after the company announced that its board of directors authorized a repurchase program of up to 7 million common shares. The plan will replace the stock repurchase program of 7 million shares that the company approved last December. The company has bought back 3.7 million shares so far this year. PartnerRe currently trades at $65.27 per share.
Alliant Energy Corp. (NYSE:LNT) dropped by more than 0.8 percent on Monday despite receiving an upgrade by analysts at Wunderlich. The firm upped its rating on the company to ‘Buy’ from ‘Hold’ the increasd its price target on Alliant Energy to $45 a share from $40 a share. Wunderlich cited that with rising capital spending and declining capacity charges in 2014.
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