Gainers:
99 Cents Only Stores (NDN) is rising 4 percent to $21.35 based on the news that it has entered into a definitive agreement to be acquired by affiliates of Ares Management LLC and Canada Pension Plan Investment Board for $22.00 per share in cash, in a transaction with a total equity value of approximately $1.6 billion.
BigBand Networks, Inc. (BBND) is jumping 75 percent to $2.22 as ARRIS Group Inc. (ARRS) would acquire the company for $2.24 per share in cash. BigBand's board unanimously recommend shareholders to accept the offer.
Trading in Rosetta Genomics, Ltd. (ROSG) was halted. The company has executed a license agreement with Avatao Biotech for exclusive rights to market its microRNA-based diagnostic tests miRview mets and miRview mets(2) in The People's Republic of China. Rosetta will receive upfront payments, payments upon achievement of certain regulatory and commercial milestones and royalties based on net sales.
United Therapeutics Corp. (UTHR) is rising 2 percent to $38.60 following its announcement about offering of $210 million of convertible senior notes due 2016.
Transatlantic Holdings, Inc. (TRH) is up over 0.20 percent to $50.20 as it announced that it has entered into a confidentiality agreement and commenced discussions with an additional party regarding potential strategic alternatives. This agreement is in addition to the previously announced confidentiality agreements that it entered into with Validus Holdings, Ltd. (VR), National Indemnity Company and an additional undisclosed party.
Decliners:
Netflix, Inc. (NFLX) is down 0.51 percent to $111.05. The company announced yesterday that it would not rename its DVD-by-mail service. The company also said its U.S. members would continue to go to the Netflix website for both unlimited streaming and unlimited DVDs.
Dollar Thrifty Automotive Group, Inc. (DTG) is sliding 4 percent to $58.00 as it has formally terminated its process to solicit definitive proposals regarding a potential business combination. The company said it will continue to execute its current stand-alone plan. The company reiterated its preliminary third quarter earnings expectations. Hertz Global Holdings, Inc. (HTZ), which had offered to acquire Dollar Thrifty, is up 4 percent to $10.50.
Trading in Biostar Pharmaceuticals, Inc. (BSPM) was halted. The company entered into a Share Transfer Agreement to acquire Shaanxi Weinan Huaren Pharmaceuticals, Ltd. for aggregate purchase price of $9.62 million.
Trading in Envoy Capital Group, Inc. (ECGI) was halted.
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