Among the companies with shares expected to actively trade in
Tuesday's session are Shire PLC (SHPG, SHP.LN) and Actions
Semiconductor Co. (ACTS).
AbbVie Inc. (ABBV) on Tuesday raised its offer for Shire to over
$51 billion, its latest attempt to bring the Dublin-based
pharmaceutical company's board to the negotiating table. The U.S.
company said its cash and shares offer represented GBP51.15 a share
($87.60), an 11% rise on its previous offer. Shire's American
depositary shares rose just under 1% to $239.55 premarket.
Actions Semiconductor, a mobile Internet-focused Chinese
semiconductor provider, lowered its revenue guidance for its second
quarter, citing soft demand from tablet manufacturers and tough
competition. Shares fell 5.5% to $2.25 in light premarket
trading.
Stifel, in a note to clients, said it has found an attractive
entry point into Celadon Group Inc. (CGI) after its recent selloff
and as competitors leave the long-haul and irregular route markets.
Stifel put a $26 price target on shares, which rose 7% to $22.75 in
light premarket trading.
Watchlist:
Home health-care company Amedisys Inc. (AMED) said the
Securities and Exchange Commission has completed its investigation
of its operations and participation in the Medicare program and
doesn't plan to recommend any enforcement action.
CA Technologies (CA) has agreed to sell backup and recovery
business CA arcserve to private-equity firm Marlin Equity Partners.
Financial terms weren't disclosed.
InvenSense Inc. (INVN), which provides sensor technology for
consumer-electronic products, will buy motion technology company
Movea and positioning software maker Trusted Positioning Inc.
KLA-Tencor Corp. (KLAC) said Tuesday that it would raise its
dividend and increase the size of its stock-buyback authorization
as the company continued its steady pace of returning cash to
shareholders.
PHH Corp. (PHH) said it plans to use some of the proceeds from
the sale of its fleet-management unit to buy back as much as $450
million of its stock.
Raptor Pharmaceutical Corp. (RPTP) announced on Monday a
succession plan for its top executive post. Executive Vice
President and Chief Operating Officer Julie Anne Smith has been
named president and will succeed Raptor co-founder Christopher
Starr as chief executive officer as of Jan. 1, when she'll join the
company's board of directors.
Mariel Therapeutics Inc. has reached an agreement to buy Stryker
Corp.'s (SYK) work on bone morphogenetic protein 7, an alternative
to autograft to induce bone formation, the company said Monday.
Write to Anna Prior at anna.prior@wsj.com
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