NEW YORK (AP) â¿¿ A look at the 10 biggest percentage decliners on New York Stock Exchange at 1 p.m.: Molycorp Inc. fell 13.6 percent to $24.19. STR Holdings Inc. fell 8.2 percent to $7.77. Calix Inc. fell 7.5 percent to $5.78. Meritor Inc. fell 6.6 percent to $5.40. Hecla Mining Co. fell 6.2 percent to $5.07. Stillwater Mining Co. fell 5.8 percent to $10.19. Aeroflex Holding Corp. fell 5.8 percent to $9.68. Coeur d'Alene Mines Corp. fell 5.7 percent to $23.48. HudBay Minerals Inc. fell 5.4 percent to $9.31. WMS Industries Inc. fell 5.3 percent to $19.88.
Aeroflex (ARX) surged more than 25% to a one-year high of $10.47 on Tuesday after British aerospace and defense supplier Cobham announced it would purchase the U.S. communications equipment manufacturer for $920 million.
Acquisitive U.K. aerospace company Cobham on Tuesday agreed to buy Plainview, N.Y-based Aeroflex Holding for $1.5 billion in cash and debt to further expand its communications business and offer new markets for the target's products.
Shares of Aeroflex Holding (ARX) are up over 24% in pre-market trade after it was announced that the wireless communications firm entered into a merger agreement with U.K.-listed Cobham in a deal valued at $920 million.