By Dow Jones Business News,
July 08, 2014, 08:52:00 AM EDT
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
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.
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
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 email@example.com
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