Funtalk China, Intel, Mosaic, Radian Group: U.S. Equity Movers
Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses and prices are as of 9:40 a.m. in New York.
Funtalk China Holdings Ltd. (FTLK) jumped 14 percent to $6.70. The operator of the mainland’s second-biggest chain selling mobile phones agreed to be bought by Fortress Group Ltd., a group which includes Arch Digital Holdings Ltd. and GM Investment Co., for $7.20 a share in a “going private” transaction.
Intel Corp. (INTC) rose 1.7 percent to $22.58. The world’s largest chipmaker is promoting a new type of thinner laptop called an ultrabook, seeking to help the personal- computer industry fend off a challenge from Apple Inc.’s iPad and other tablets.
Mosaic Co. (MOS) increased 2.1 percent to $71.500. North America’s second-largest fertilizer producer and Potash Corp. of Saskatchewan Inc. (POT US) were raised to “buy” from “hold” at Citigroup Inc., which cited a better outlook for the companies’ earnings. Potash Corp. rose 2.5 percent to $57.36.
Radian Group Inc. (RDN) gained 8.5 percent to $5.04. The mortgage insurer was raised to “overweight” from “neutral” at Piper Jaffray Cos., which cited a stronger position on both credit and capital.
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