Friday, April 1, 2011

Today's Top Gainers: F, GM, LEI, SRX, HBAN

Shares of Ford Motor Co. (NYSE: F) rallied more than 3% on Friday after the automaker said that its March sales jumped 19% to 212,777.

General Motors (NYSE: GM) jumped more than 3% after it reported that its March sales rose 9.6% to 206,621 from 188,546 in March of 2010. 

Lucas Energy, Inc. (AMEX: LEI) soared more than 11% afer the company said that it has entered into a Joint Venture agreement with Marathon Oil (East Texas) LP, a subsidiary of Marathon Oil Corporation (NYSE: MRO), for the development of the Eagle Ford and Buda formations in Wilson County, Texas. The Marathon affiliate has acquired 50% of the leasehold interest rights, representing approximately 1,000 net acres (below the base of the Austin Chalk formation) held by Lucas in a majority of Lucas' leases in Wilson County, Texas. Marathon Oil Corporation's subsidiary will be the operator of the joint venture, but Lucas will still own and operate rights above the Eagle Ford, primarily the Austin Chalk formation.

SRA International Inc. (NYSE: SRX) soared more than 9% after the company announced that it has agreed to be acquired by Providence Equity Partners for $1.88 billion in cash. Providence Equity Partners Inc. will pay $31.25 per share for SRA International, a 10 percent premium over SRA’s closing price Thursday. 

Huntington Bancshares Inc. (NASDAQ: HBAN) rose more than 3% after Jefferies Group upgraded its rating on the company to Buy from Hold.

Full Disclosure: None.
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