Solexa (SLXA Quote) surged 32% on news that it will be acquired by Illumina (ILMN Quote) for $600 million. The deal is worth $14 a share, a 45% premium over Solexa's Friday closing price. San Diego-based Illumina will also buy $50 million worth of new Solexa shares.
Solexa, a Hayward, Calif., developer of genetic-analysis technologies, also posted a third-quarter loss of $9.9 million, or 27 cents a share, compared with a loss of $10.8 million, or 43 cents a share, a year ago. Solexa was trading up $3.13 to $12.83. Illumina, meanwhile, sank on the acquisition news, trading down $4.30, or 9.8%, to $39.75.
China Automotive Systems(CAAS Quote) soared on impressive third-quarter results. The China-based company, which manufactures automotive systems and components, reported that earnings rose 40% from a year ago to $1.5 million, or 7 cents a share. Revenue climbed to $22.7 million from $14.8 million a year ago. Shares were up $1.72, or 22.2%, to $9.47.
Van der Moolen (VDM Quote) jumped on news that the Amsterdam-based stock trader will release its third-quarter results on Nov. 14, two days earlier than it had originally planned. Shares were up 52 cents, or 9.4%, to $6.07. ...
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