Diversified U.S. manufacturer Tyco International (TYC.N) is moving to separate its businesses into three independent publicly traded companies, sending its shares up nearly 4 percent. Investors cheered the move on Monday amid speculation that smaller chunks of Tyco would become acquisition targets. Consumer companies Kraft Foods Inc (KFT.N) and Ralcorp Holdings (RAH.N), credit rating agency owner and book publisher McGraw-Hill (MHP.N), and energy giant ConocoPhillips (COP.N) have announced plans to split their business as conglomerates are falling out of favor with investors. Also, ITT Corp (ITT.N) is planning to spin its defense and water segments into separate companies. Tyco said the split would allow its three businesses -- ADT North America residential security, flow control products and services, and its fire and security business -- to have more options for growth, both from within and through acquisitions.
Tyco International Ltd. (Tyco) is a diversified company, which provides security products and services, fire protection and detection products and services, valves and controls, and other industrial products. Shares of TYC traded higher by 3.36% or $1.47/share to $45.17. In the past year, the shares have traded as low as $36.28 and as high as $53.38. On average, 4492910 shares of TYC exchange hands on a given day and today's volume is recorded at 11137478.
Kraft Foods Inc. (Kraft Foods) manufactures and markets packaged food products, including biscuits, confectionery, beverages, cheese, convenient meals and various packaged grocery products. Shares of KFT fell by 0.77% or $-0.27/share to $34.79. In the past year, the shares have traded as low as $29.80 and as high as $36.30. On average, 11994100 shares of KFT exchange hands on a given day and today's volume is recorded at 1305925.
Ralcorp Holdings, Inc. (Ralcorp) is engaged in manufacturing, distributing and marketing private-brand food products, Post brand ready-to-eat cereal products and other regional and value-brand food products in the grocery, mass merchandise, drugstore and foodservice channels. Shares of RAH fell by 3.98% or $-3.03/share to $73.16. In the past year, the shares have traded as low as $57.10 and as high as $91.35. On average, 935845 shares of RAH exchange hands on a given day and today's volume is recorded at 1176478.
The McGraw-Hill Companies, Inc. is a global information services provider serving the financial, education and business information markets, such as energy, automotive, construction, aerospace and defense, broadcasting and marketing/research information services. Shares of MHP fell by 1.72% or $-0.78/share to $44.51. In the past year, the shares have traded as low as $30.33 and as high as $45.65. On average, 2992090 shares of MHP exchange hands on a given day and today's volume is recorded at 444786.
ConocoPhillips is an international, integrated energy company. Shares of COP fell by 2.26% or $-1.52/share to $65.77. In the past year, the shares have traded as low as $55.00 and as high as $81.80. On average, 11814400 shares of COP exchange hands on a given day and today's volume is recorded at 1641881.
ITT Corporation (ITT) is a global engineering and manufacturing organization. Shares of ITT fell by 2.07% or $-0.93/share to $44.00. In the past year, the shares have traded as low as $42.08 and as high as $64.00. On average, 1572280 shares of ITT exchange hands on a given day and today's volume is recorded at 178380.
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