Oi SA (ADR) (NYSE:OIBR) drifted down on Monday by more than 6% after a steady upside on Thursday. The stock saw a good drop on Monday by closing near day’s low of $1.03; the stock has broken below its 52 week low of $1.09 to close at $1.04. This is a bearish sign and indicates a very strong downward bias for the stock. Oi SA (ADR) (NYSE:OIBR) stock opened today at $0.96 and is currently trading at $0.860. The stock showed a positive weekly performance of -14.05%.
Orbital Sciences Corp (NYSE:ORB) announced that it has signed a deal with Alliant Techsystems Inc. (NYSE:ATK) whereby it will merge with the latter’s Aerospace and Defense Groups (A&D). The merger will produce a $4.5 billion defense, aviation, and space systems manufacturer and developer. Orbital Sciences Corp (NYSE:ORB) stock opened at $34.02, in current trading session and currently is at $32.25, by gaining 21.38%.The 52 week range of $17.03-$34.16. Company’s market capitalization is $1.95 billion.
The transaction between ATK (NYSE: ATK) and Orbital (NYSE: ORB) will create a new company, Orbital ATK, Inc. Current ATK shareholders will own approximately 53.8 percent of Orbital ATK on a fully diluted basis and current Orbital shareholders will own approximately 46.2 percent. Approximately $1.7 billion of existing ATK debt will remain at Orbital ATK, both companies announced Tuesday. Alliant Techsystems Inc. (NYSE:ATK) stock is currently trading at $149.04.The EPS of the stock is 9.75. Company’s market capitalization is $4.74 billion.
Sprint Corporation (NYSE:S) reported operating results for the quarter ended March 31, 2014, including consolidated operating income of $420 million, the company’s best performance in over seven years. Adjusted EBITDA* of over $1.84 billion in the quarter grew 22 percent over the prior year period, and Adjusted EBITDA* margin of 23.4 percent was the highest in almost six years. Sprint Corporation (NYSE:S) stock opened the session at $7.65, and now is at $7.86. The 52 week range of the S stock remained $5.15-$11.47 and the day range was $7.51-$8.05.