was up 10.5% after reports of brisk sales of the iPhone in the U.K. and Germany where it made its debut over the weekend. China, the world's biggest cell phone market, may be next. An
suggested Apple is in talks with service provider
to introduce the device in China. Shares of Apple were up $16.20 to $169.96 in recent trading.
Chinese search giant
shares also soared after a positive research note from Citigroup. Analyst Jason Brueschke, who has a buy rating on the stock with a target price of $425, said the recent sell-off in Baidu was overdone. Baidu's stock lost 30% of its value in five days after a disappointing outlook from Cisco. Shares of Baidu were up Tuesday 13.3%, or $39.95, to $341.45.
announced it will acquire surgical products maker
in an all-stock deal worth around $263 million, or $12.86 a share. Tutogen shareholders will receive 1.22 shares of newly issued Regeneration common stock for each share of Tutogen common stock they own.
Regeneration shareholders will own around 55% of the combined company and Tutogen shareholders will own about 45% upon completion of the deal, which is expected to close in the first quarter of 2008 pending shareholder approval.
Regeneration expects $5 million to $6 million of identified annual cost savings between the companies, when the deal is fully realized, and expects it will add to its 2008 earnings, excluding one-time transaction costs and adjustments.
Regeneration shares fell 54 cents, or 5.1%, to $10.00 in recent trading, while Tutogen shares climbed $1.77, or 17.4%, to $11.92.
On the falling end,
said it will offer $250 million of unsecured senior convertible notes due 2038. Underwriters will have the option to buy up to $37.5 million more to cover overallotments. The company will use the proceeds for working capital and general corporate purposes, which may include funding its operations, capital expenditures and possible acquisitions. The company will also use the proceeds for repurchases or redemption of its 0.75% senior convertible notes due 2033. JPMorgan is underwriting the offering. The stock was down $2.29, or 9.6%, to $21.67.
, meanwhile, helped hoist financial stocks and the rest of the market out of their recent dirges after
assuaging investors' fears on prior rumors of impending writedowns.
Shares jumped 8.1% after CEO Lloyd Blankfein said in a New York conference that the broker doesn't intend on taking any significant writedown charges and that it continues shorting mortgage-backed securities and CDOs (collateralized debt obligations). The conference was hosted by Merrill Lynch.
Goldman had stood out among few financial-services firms to report
positive third-quarter earnings in September, but jittery investors have recently kicked down shares on
speculation that it will nevertheless join the many financial-services firms incurring big subprime-related losses. Today, its stock was climbing $17.45 to $232.16 in substantial recovery.
Also making a staunch recovery was
, whose shares lost nearly 60% of its value yesterday on a
Citigroup downgrade and its own
grim writedown warning. Today, shares took back some of those losses, surging 54.4% in furious trading, as
some analysts speculated that the online broker could put itself on the block.