United Parcel Service, Inc. (UPS) is rising more than 1 percent to $79.53. The company agreed to acquire TNT Express N.V. in a transaction valued at approximately $6.77 billion. The company said this combination expands its express capabilities in Europe and deepens existing position in fast-growing regions such as Asia-Pacific and Latin America.
AboveNet, Inc. (ABVT) is gaining over 13 percent to $84.31. Zayo Group, LLC has agreed to acquire the company for $84.00 per share in cash.
LDK Solar Co., Ltd. (LDK) is declining over 1 percent to $4.83. The company lowered the high end of its fourth quarter revenue forecast. The company said it expects to incur a write-down of inventories, realize impairment charges on contractual purchase agreements, as a result of the rapidly declining market price for wafers and modules during the quarter. In addition, the company expects gross margin to be negative.
eBay Inc. (EBAY) is falling 2 percent to $36.85.
Trading in shares of Apple Inc. (AAPL) was halted. The company announced plans to initiate a dividend and share repurchase program commencing later this year. The Company plans to initiate a quarterly dividend of $2.65 per share sometime in the fourth quarter of its fiscal 2012 and has authorized a $10 billion share repurchase program commencing in the Company's fiscal 2013.
Trading in shares of NewLead Holdings Ltd. (NEWL) was halted.
by RTT Staff Writer
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