STOCKS NEWS US-Baird sees strength in card processing co's

Stocks on the move [HOT-RTRS] Real-Time Equity news [U E]

U.S. stock market report [.N] 1124 ET 30Dec2008-Baird sees strength in card processing cos ------------------------------------------------------------------------------

Robert W. Baird Tuesday said that despite weakness in holiday retail sales, it continued to view credit card processing companies Heartland Payment (HPY.N) and Global Payments (GPN.N) positively, calling them "high quality franchises that may continue to grow 8-10 percent organically despite a weak economy."

The firm added that the long-term characteristics of card processing were favorable, and said it "mildly" preferred Heartland because of "a potentially higher multiple in an economic recovery" that was based on organic revenue growth and margin expansion.

Heartland shares fell 1.5 percent to $16.25 while Global Payment shares were up 0.8 percent to $32.78.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net 1109 ET 30Dec2008-Savient Pharma surges on FDA review ------------------------------------------------------------------------------

Shares of Savient Pharmaceuticals (SVNT.O) surged on Tuesday after the U.S Food and Drug Administration accepted for review its Biologics License Application for pegloticase, which is used for treatment-failure gout patients.

The FDA also granted the application with a priority review status which speeds up the review process to six months.

Shares rose over 24 percent to $6.11. (Reuters Messaging:rm://Charles.mikolajczak.reuters.com@reuters.net) 1102 ET 30Dec2008-Judge approves $28 mln transfer to Madoff trustee ------------------------------------------------------------------------------