BP Share News (BP.)

U.S. stocks traded higher Monday as the Dow Jones Industrial Average rose 18 points to 10216, the Standard & Poor's 500 inched up 0.8 points to 1079 and the Nasdaq Composite climbed 1.9 points to 2198. Among the companies whose shares are actively trading in the late session are Alcoa Inc. (AA) and Novellus Systems Inc. (NVLS). Alcoa swung to a profit in the second quarter on improved demand and prices after the aluminum producer struggled with anemic prices for the metal a year earlier. Earnings per share topped expectations by a penny and revenue as also strong, while Alcoa also raised its outlook for aluminum consumption growth. Shares rose 2.9% to $11.19 in late trading. Novellus Systems swung to a second-quarter profit and sales more than doubled as chip makers benefited from a big rebound in demand after the sharp drop a year earlier. The semiconductor-equipment maker's results topped its raised guidance, and Chairman and Chief Executive Richard Hill predicted a multiyear recovery in the semiconductor-equipment industry. Shares rose 1.4% to $27.09 in late trading. Regular Session Movers: Insurance broker Aon Corp. (AON, $35.62, -$2.72, -7.09%) has agreed to buy human-resource consulting and outsourcing company Hewitt Associates Inc. (HEW, $46.79, +$11.39, +32.18%) in a cash-and-stock deal valued at about $4.9 billion. The deal will nearly triple the size of the Aon's consulting operations, making it a $4.3 billion business by revenue. Aon Hewitt, as the consulting and outsourcing operations will be known, will be run by Hewitt Chairman and Chief Executive Russ Fradin. Forest-products company Weyerhaeuser Co. (WY, $38.86, +$3.02, +8.43%) will distribute $5.6 billion in retained earnings and profits to its shareholders in the form of a special dividend, a required step on the way to becoming a real-estate investment trust. The $5.6 billion amount, which will be returned to shareholders mostly in stock, includes a regular $11 million quarterly dividend. The cash portion of the special dividend will be capped at 10%, or $560 million. Shares of BP PLC (BP, $36.76, +$2.71, +7.96%) gained on media speculation that the whole firm or some of its assets may be sold. The Wall Street Journal reported that BP was in talks to sell assets to Houston-based Apache Corp. (APA, $85.07, -$2.81, -3.20%) in a deal that could be worth as much as $10 billion. The Sunday Times said Exxon Mobil Corp. (XOM, $58.94, +$0.16, +0.27%) and another U.S. oil firm have asked the U.S. government whether they could bid for BP. Meanwhile, BP said it plans to install a new sealing cap Monday morning that could contain all of the oil spewing from the leaking oil well in the Gulf of Mexico, the company's chief operating officer said. Hugh Hefner and private-equity company Rizvi Traverse Management LLC have proposed making an offer for the rest of Playboy Enterprises Inc. (PLA, $5.55, +$1.61, +40.86%) (PLA.A, $5.54, +$1.48, +36.35%) that he doesn't own, valuing the media and branding company at about $185 million. Meanwhile, FriendFinder Networks, the parent company of the men's magazine Penthouse, plans to make an offer to acquire Playboy, Friendfinder Chief Executive Marc Bell told The Wall Street Journal. UBS raised its stock-investment rating on flash-memory device maker SanDisk Corp. (SNDK, $45.81, +$2.91, +6.78%) to buy from neutral, citing favorable pricing and strong smartphone and consumer handheld design win momentum that could offset any retail softness. Needham & Co. raised its stock-investment rating on educational products company LeapFrog Enterprises Inc. (LF, $5.11, +$0.78, +18.01%) to strong buy, as the analysts said their retail checks indicate the company's products enjoyed very strong sales in the second quarter, and the second half outlook remains promising. Johnson & Johnson (JNJ, $60.21, -$0.33, -0.55%) agreed to acquire Micrus Endovascular Corp. (MEND, $23.19, +$1.00, +4.51%) for $480 million, adding stroke-treatment device offerings to its wide breadth of medical products. The health-care giant has seen earnings rise lately, helped by rising sales and a $1.7 billion settlement with Boston Scientific Corp. (BSX, $6.45, -$0.01, -0.15%). Robert W. Baird & Co. cut its stock-investment rating on marketing services companies Acxiom Corp. (ACXM, $13.43, -$1.14, -7.82%) and Valassis Communications Inc. (VCI, $30.10, -$1.89, -5.91%) to neutral from outperform, citing the firm's quarterly marketing survey. The survey showed second-quarter revenues were mildly below expectations, 2010 growth expectations are coming down and there was a deteriorating trend in June. UBS cut its stock-investment rating on Aetna Inc. (AET, $27.21, -$0.42, -1.52%) to neutral from buy, saying health-care reform costs may delay margin expansion for the insurer. Drug company Auxilium Pharmaceuticals Inc. (AUXL, $23.20, +$1.65, +7.66%) said second-quarter revenue for its hand-disorder drug Xiaflex of $3.1 million and reaffirmed its plans to initiate Phase III trials on the drug for the treatment of Peyronie's disease by the end of this year. Bidz.com (BIDZ, $1.40, +$0.02, +1.45%), an online jewelry retainer said a California superior court had dismissed a shareholder class-action lawsuit against the company's board of directors, the second major lawsuit the company's had dismissed this year. (MORE TO FOLLOW) Dow Jones Newswires July 12, 2010 16:55 ET (20:55 GMT)