Market Roundup

Shares of MSC Industrial Direct Co Inc MSM dropped about 0.5% after the company reported upbeat fiscal third-quarter earnings and issued weaker-than-expected Q4 earnings. MSM reported its quarterly profit at $62.1 million, or $0.97 per share, up from $44.3 million, or $0.69 per share, in the year-earlier period. Its revenue surged 18% to $532.4 million. Analysts were expecting earnings of $0.94 per share on revenue of $532.1 million. For current quarter, MSM expected earnings of $0.83 to $0.87 per share on revenue of $518 million to $530 million. However, analysts expected earnings of $0.89 per share on revenue of $526 million. Shares of Rite Aid Corp RAD gained about 3.9% after the company reported a 1.8% rise in its June same-store sales in the four weeks ended June 25. Rite Aid's front-end non-pharmacy sales climbed 1.5%, while its pharmacy sales surged 1.9%. Shares of Ansys Inc ANSS gained about 0.1% after the company agreed to buy Apache Design Solutions for $310 million in cash. The transaction is likely to close in the third quarter of 2011. Akzo Nobel NV AKZOY announced is plans to buy Germany-based Schramm Holding AG. The company also plans to acquire the coatings activities of Korea-based SSCP Co Ltd. The transaction is likely to close in the second half of this year.