Activist investor Carl Icahn has taken a 9.27 percent stake in speech recognition and digital imaging software maker Nuance Communications Inc. (NUAN), a regulatory filing showed. Nuance shares advanced over 8 percent in the extended trade.
Icahn now owns 29.33 million shares in Nuance. The company's speech recognition technology is used in Apple Inc.'s (AAPC) iPhones.
The news sent the company's stock soaring in the extended session as Icahn is known to amass stake in firms that he sees as underpriced.
NUAN, which closed at $20.18 on Monday, climbed 8.23 percent in the extended session and was trading at $21.84.
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