Verigy: Premarket Trading
(Premarket story updated with Verigy news and share price information.)
NEW YORK ( TheStreet) -- Verigy (VRGY) said Thursday it received a revised proposal from Advantest (ATE - Get Report) to acquire it for $15 a share in cash, an increase from a previous offer of $12.15 a share earlier this month.
Shares of Verigy rose 10.61%, or $1.34, to $13.97 in premarket trading Thursday.
AstraZeneca (AZN - Get Report) said late Wednesday it would discontinue the development of Certriad, a treatment for mixed dyslipidemia, with Abbott (ABT - Get Report) when their license agreement ends on Jan. 22, 2011.
Abbott closed at $47.84 on Wednesday. AstraZeneca is down 0.19%, or 9 cents, to $45.71 in premarket trading.
Office Depot (ODP - Get Report) recently filed a change-in-control agreement with several of its executives with the Securities and Exchange Commission, signaling that a takeover may be on the horizon. Shares of the office products supplier were rising 2.27%, or 12 cents, to $5.40 in premarket trading.
Rovi (ROVI - Get Report) agreed to buy Sonic Solutions (SNIC) for $720 million in a stock and cash transaction in efforts to expand its digital entertainment offerings. Sonic Solutions shares were climbing 24.68%, or $2.77, to $13.97 in premarket trading Thursday.
Bed Bath & Beyond (BBBY - Get Report) beat Wall Street earnings expectations for a ninth straight quarter on Wednesday. The diversified retailer reported a third-quarter profit of $188.6 million, or 74 cents a share, up from $151.3 million, or 58 cents a share, a year earlier, and well ahead of analysts' expectations of 66 cents a share. Shares of Bed Bath rose 6.61%, or $3.15, to $50.82 in premarket trading.
Micron Technologies (MU - Get Report) reported first-quarter earnings of $155 million, or 15 cents a share, coming in well below the average estimate of analysts polled by Thomson Reuters for earnings of 28 cents a share. Shares of the semiconductor manufacturer were down 3.62%, or 30 cents, to $7.98 in premarket trading Thursday.
The Irish government has recapitalized Allied Irish Banks (AIB) and taken it under state control. Shares of the company fell 15.6%, or 17 cents, to 92 cents in premarket trading.
Rio Tinto Group (RIO) has reached terms on a bid implementation agreement to acquire Australia's Riversdale Mining for A$3.9 billion. The all-cash offer values Riversdale shares at A$16 each, which represents a 46% premium to the weighted average price of Riversdale's stock from Nov. 3 to Dec. 3. Rio Tinto shares fell 1.03%, or 73 cents, to $70.24 in premarket trading.
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