Hot U.S. stocks today August 29 2011

Hot U.S. stocks today August 29 2011 ; U.S. stocks traded higher Monday as the Dow Jones Industrial Average recently gained 1.8% to 11490, the Standard & Poor's 500 rose 2.2% to 1203 and the Nasdaq Composite increased 2.7% to 2545. Among the companies whose shares were actively trading in the session were Pfizer Inc. (PFE), Allstate Corp. (ALL) and Northgate Minerals Corp. (NXG).



A drug being developed by Bristol-Myers Squibb Co. (BMY, $29.31, +$0.59, +2.05%) and Pfizer ($18.90, +$0.69, +3.78%) significantly outperformed warfarin in a major stroke-prevention study, boosting the drug's prospects in an emerging multibillion market for new blood thinners.



Shares of property and casualty insurers rose Monday after the damage from Hurricane Irene appeared to be less than the market had predicted. Complete clarity on loss estimates won't be known for some time, but research firms say based on weaker-than-forecast wind speeds, particularly for the New York metropolitan area, the total loss for the sector is likely less than the initially expected range, which some had been pegging at tens of billions of dollars. Insurers Allstate ($26.00, +$1.76, +7.27%), Hartford Financial Services Group Inc. (HIG, $19.26, +$2.07, +12.04%), Travelers Cos. (TRV, $50.67, +$2.37, +4.91%) and Tower Group Inc. (TWGP, $23.28, +$1.49, +6.84%) all traded higher. Read Shares of property insurers was up Monday august 29 2011



AuRico Gold Inc. (AUQ, $11.76, -$2.16, -15.52%) has agreed to buy fellow Canadian gold mining company Northgate Minerals ($4.19, +$1.04, +33.02%) as consolidation among gold miners continues in the wake of record gold prices. The deal scuttles Northgate's previous plan to buy Primero Mining Corp. (PPP, $3.55, -$0.67, -15.88%) for C$370 million. AuRico, a Toronto-based gold and silver producer with mines and projects in Mexico, is offering 0.365 of a share for each Northgate share.



Venoco Inc. (VQ, $11.68, +$2.70, +30.07%) received a takeover offer valuing the oil-and-gas explorer at $770 million from its chief executive and majority shareholder. The nonbinding offer from CEO Timothy Marquez, worth $12.50 a share in cash, is a 39% premium over Friday's close.



Bank of America Corp. (BAC, $8.20, +$0.44, +5.67%) agreed to sell about half its stake in China Construction Bank Corp. (0939.HK) for cash proceeds of about $8.3 billion, a deal that further improves the bank's liquidity position and helps it meet regulatory standards.