Updated to reflect Qualcomm reaching a deal to acquire Atheros.NEW YORK ( TheStreet) -- Qualcomm ( QCOM) agreed to buy semiconductor company Atheros Communications ( ATHR) for $45 a share, or an enterprise value of $3.1 billion. Shares of Qualcomm were flat at $51 in premarket trading. Premarket quotes for Atheros were unavailable. The stock finished at $44, up 18.9%, on Tuesday.
Steel giant ArcelorMittal ( MT) maintains that it won't increase its $550 million offer for Canadian junior producer Baffinland Iron Mines despite a more attractive bid from another suitor. Shares of ArcelorMittal fell 4.8% to $35.92 in premarket trading.
Mosaic ( MOS), the Plymouth, Minn.-based provider of concentrated phosphate and potash crop nutrients, reported better-than-expected earnings for its fiscal second quarter. Mosaic earned $1.01 a share in the latest quarter, while sales leapt to $2.67 billion. The average estimate of analysts polled by Thomson Reuters was for earnings of 91 cents a share on revenue of $2.42 billion. Shares of Mosaic rose 4.2% to $78.17 in premarket trading Wednesday.
Family Dollar Stores ( FDO) reported a 9.9% rise in first-quarter net income to $74.3 million, or 58 cents a share, from $67.6 million, or 49 cents a share, the same time last year. Net sales increased about 9.5% to $1.99 billion from $1.82 billion a year ago. Analysts, on average, had expected earnings of 61 cents a share on net sales of $1.98 billion. The stock fell 7.8% to $45.45 in premarket trading.
Apple ( AAPL), Microsoft ( MSFT), Cisco ( CSCO) and others are expected to make announcements Wednesday at the Consumer Electronics show in Las Vegas. Apple was 0.6% lower to $329.20, while Microsoft was down 1% to $27.82. Cisco fell 0.6% to $20.40. >>Search for Highest Dividends by Rate or Yield
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