24/7 Wall St. Closing Bell — October 22, 2012: Market Staggers to Gain (EQR, SNDK, KMP, WEN, CVC, EW, CAT, FCX, HAS, BTU, STI, VFC, CE, WD, TXN, YHOO, MMM, AKS, COH, DD, HOG, RSH, UPS, UTS, XRX, SVU, OSG, AMD)
SUPERVALU Inc. (NYSE: SVU) is up 42.5% at $3.12. The supermarket company is thought to be a takeover target, with private equity firm Cerberus currently looking to finance such a deal.
Overseas Shipholding Group Inc. (NYSE: OSG) is down 64.6% at $1.15 after posting a new 52-week low of $1.02 earlier today. The oil tanker company may have to file for bankruptcy. More coverage here.
Advanced Micro Devices Inc. (NYSE: AMD) is down 2.8% at $2.12 after posting a new 52-week low of $2.10 earlier today. The chipmaker has failed to persuade investors that it can do anything right. More coverage here.
Stay tuned for Tuesday. The FOMC meeting begins today. We have noted the following event on the schedule (all times Eastern):10:00 a.m. - Richmond Fed manufacturing index 11:30 a.m. - 4-week Treasury bill auction 1:00 p.m. - 2-year Treasury note auction