Market Update

Shares of LHC Group Inc (NASDAQ: LHCG) gained about 1.1% after the company announced that proven healthcare development executive Don Adam has joined the Company as senior vice president and chief development officer for home health and hospice services.

Shares of SAIC Inc (NYSE: SAI) gained about 0.6% as the company is all set to report its quarterly earnings after the closing bell. SAIC is projected to report its Q2 EPS at $0.35 on revenue of $2.77 billion.

Shares of CNinsure (NASDAQ: CISG) dropped about 1.2% after the company announced its plans to acquire 100% equity interests in Guangzhou Huajie Insurance Agency Co., and Dongguan Zhongxin Insurance Agency Co from Chengdu Jingshi Investment Co. The transactions are likely to close in September 2011.

Shares of Ceradyne Inc (NASDAQ: CRDN) rose about 3.1% after the company's Board of Directors authorized the repurchase of up to $100 million of CRDN common stock in open market transactions, including block purchases, or in privately negotiated transactions.