Thursday Movers: International Speedway Corporation (NASDAQ:ISCA), Lorillard Inc.(NYSE:LO)

International Speedway Corporation (NASDAQ:ISCA) extends gains as Thursday’s session moves on after it posted fiscal Q2 revenue and EPS that beat expectations, helped by higher revenue from broadcasting rights and stable admissions. Near midday, shares are up 1.67% at $34.12, with a 52-week range of $29.90 – $38.01.

The operator of the Daytona International Speedway circuit said Q2 adjusted income was $23.4 million, or $0.50 per diluted share, compared with $23.7 million, or $0.51 per diluted share a year ago, beating estimates for $0.49, according to Capital IQ.

Net income for Q2 nded May 31, 2014 was $21.5 million, or $0.46 per diluted share, compared to net income of approximately $22.4 million, or $0.48 per diluted share, in the prior year period.

Total revenue was approximately $190.3 million, compared to revenue of approximately $178.4 million in the prior-year period and also above estimates for $185 million. The company reiterates its full-year 2014 outlook for revenue of between $635 million to $650 million and diluted earnings per share: $1.30 to $1.50.

Shares of e-cigarette and Newport cigarette maker Lorillard Inc.(NYSE:LO) are more than 5% higher Thursday following a report from CNBC’s David Faber that claims the merger between Lorillard and Reynolds American, Inc.(NYSE:RAI) is back on in a “significant way” and an announcement is “weeks away.”

Rumors of a merger began circulating in late May, but started losing momentum toward mid-June as obstacles to the deal resurfaced. This includes the 50% ownership in Reynolds by British Tobacco, scrutiny by the FTC with a combined Lorillard/Reynolds controlling a majority stake in the cigarette market, and the lack of sufficient cash at Reynolds needed to finance a deal.

After climbing to an all-time high of $65.28 on June 20, shares of LO began drifting lower as the chances for a merger evaporated. However, Reynolds appears to have overcome obstacles, according to Faber’s report. The speculation is nudging shares of LO up by 5% and RAI by nearly 2%, just shy of its 52-week high of $62.63.