M&F Worldwide, Micron, NetLogic, Tenet: 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 10 a.m. in New York.
Colfax Corp. (CFX) dropped the most in the Russell 2000 Index, sliding 12 percent to $20.23. The Fulton, Maryland-based manufacturer of pumps and specialty valves plans to buy Charter International Plc (CHTR) for 1.53 billion pounds ($2.4 billion), trumping an offer from rival suitor Melrose Plc.
Global Industries Ltd. (GLBL) surged 51 percent to $7.79 for the biggest gain in the Russell 2000 Index. Technip SA, Europe’s second-biggest oil services company, agreed to buy Global Industries of the U.S. for $937 million in cash to expand in the market for underwater energy projects.
M&F Worldwide Corp. (MFW) jumped 17 percent to $23.83 and rallied as much as 20 percent, the most intraday since June 13. The producer of licorice extract and other flavoring agents agreed to be bought by shareholder MacAndrews & Forbes Holdings Inc. for $25 a share.
Micron Technology Inc. (MU) rose the most in the Standard & Poor’s 500 Index, climbing 5.5 percent to $6.70. The chipmaker was added to UBS AG’s most-preferred list.
NetLogic Microsystems Inc. (NETL) jumped 50 percent to $47.88 and advanced to $48.10 earlier, the highest intraday price since it went public in July 2004. Broadcom Corp. (BRCM) , the maker of communications chips for Apple Inc.’s mobile devices, agreed to buy NetLogic for about $3.7 billion to expand its product range.
Cavium Networks Inc. (CAVM) , also a maker of processors that enables networking, gained 8.5 percent to $33.54.
Tenet Healthcare Corp. (THC) slid 8.4 percent, the most in the S&P 500, to $4.60. The hospital operator said earnings before interest, taxes, depreciation and amortization in 2011 will be at the low end of an earlier forecast.
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