Updated from 12:08 a.m. EST to provide information on Microsoft and closing prices.
NEW YORK (
) - An unknown bidder offered to acquire
for $27.50 per share, trumping an already agreed upon offer.
earlier this year that
Insight Venture Partners
was going to acquire it for $25.75 per share, or nearly $2.17 billion.
previously bid for Quest Software, but it is unknown if this new bid is from Dell.
The receipt of this
drove shares of the enterprise management software maker up 5.63% to $27.69. At mid-day, the stock reached a 52-week high of $27.75.
(FB - Get Report)
is placing ads on
(ZNGA - Get Report)
-- a move that could help Facebook build an ad network to rival
Zynga could not be reached for comment on this article.
Shares of Facebook fell 3% to $32.06 on Monday, while Zynga climbed 1.17% to $6.07.
Research In Motion
the blackberry maker from Equal-weight to Underweight with a $7 price target.
"We downgrade RIM to Underweight as we believe the only way RIM remains a viable entity is at a fraction of its current size, a transformation that erases much of its earnings power. Immediate asset sales or strategic options could unleash ~$15 per share in value, but are unlikely leaving a declining Book Value," wrote analyst Ehud Gelblum.
A RIM spokesman quashed a rumor on Monday morning that the company was considering
spinning off its handset business
Shares of Research In Motion fell sharply -- 7.61% to $9.10 -- on Monday.
(NOK - Get Report)
shares also sank 7.98% on Monday, reaching $2.19. The stock has dropped over 54% since the beginning of the year.
lowered its forecasts for handset and smartphone global growth in 2012 based on weaker demand and inventory reductions. Handset unit growth was reduced to 4% from 10% and smartphone from 38% from 42%.
After the software giant
acquisition of Yammer
, a social network tool for businesses, shares slipped 2.72% to $29.86.
--Written by Nathalie Pierrepont in New York.
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