NEW YORK ( TheStreet) -- Mining giant BHP Billiton ( BHP) says it will buy Petrohawk Energy Corp. ( HK) for $38.75 a share, representing a total equity value of about $12.1 billion and a total enterprise value of about $15.1 billion.

BHP was down 1.4% to $91, while Petrohawk Energy was soaring by 63.5% to $38.40.

Citigroup ( C) shares were rising 3.5% to $40.40 after the financial services company reported second-quarter profit of $1.09 a share vs. 90 cents a share a year ago. Analysts, on average, were expecting earnings of 96 cents a share.

Internet search giant Google ( GOOG) posted adjusted second-quarter earnings per share of $8.74, beating analyst estimates of $7.85 a share. Last year the company posted earnings per share of $6.45 per share.

Shares were popping by 12.9% to $597.31.

Carl Icahn has set his sights on a buyout of Clorox ( CLX), according to a regulatory filing early Friday that indicates he's proposed to purchase the company for $76.50 per share, or roughly $12.6 billion. The consideration represents a premium of nearly 12% to Thursday's closing price.

Clorox shares were surging 11.1% to $76.05.

Shares of QLIK Technologies ( QLIK) were tumbling by 4.9% to $32.06 after the software company was downgraded to hold from buy at Jefferies.

SM Energy ( SM) was popping by 5.3% to $75.98 the energy explorer and producer was raised to outperform from market perform at Wells Fargo.

Toymaker Mattel ( MAT) raced past Wall Street's profit expectations for its latest quarter early Friday, and the company's investors have Lightning McQueen to thank for it.

For the three months ended June 30, Mattel said it earned 23 cents a share vs. 14 cents a share last year. The average estimate of analysts polled by Thomson Reuters was calling for a profit of 16 cents a share.

Shares were rising by 4.6% to $28.02.

Rebekah Brooks has resigned as CEO of New International, News Corp.'s ( NWS) U.K. newspaper unit, as the fallout from the company's phone hacking scandal continues.

News Corp. shares were trading sideways at $15.98.

Media and telecommunications company Telefonica ( TEF) says it's contemplating axing up to 6,500 employees between 2011 and 2013 in a move that will be positive on cash flow from the first year. The plan will cost the company about € 2.7 billion euros ($3.8 billion).

Telefonica was trading sideways at $22.34.

-- Written by Andrea Tse in New York.
Copyright 2011 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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