Altera Spikes on Renewed Intel Interest, Alibaba Sinks on Lawsuits

NEW YORK (TheStreet) -- Altera (ALTR) spiked Monday after reports Intel (INTC) is interested in resuming buyout talks with its rival. Alibaba (BABA) sinks after Kering (PPRUY) files a lawsuit against the Chinese company for allegedly selling counterfeit goods on its e-commerce site. Apple (AAPL) gains after an appeals court upholds its iPhone patents ruling against Samsung.

Altera soared 5.7% to end the day at $46.93. Intel, meanwhile, climbed 1.3% to $33.41.

Altera jumped after a report in the New York Post said the companies had resumed buyout talks. Altera reportedly turned down Intel's initial offer of $54 a share back in April but now, according to the Post's sources, a deal appears more likely.

A report in Zacks said a deal could result in a transaction that exceeds $13 billion. Altera closed Monday with a market cap of $14.1 billion.


Alibaba sank 1.5% to end the session at $87.11, on a day when the broader markets advanced.

The Chinese e-commerce company took a hit after Kering, which owns luxury goods brands Gucci and Yves Saint Laurent, filed a lawsuit against the company, alleging it was selling counterfeit versions of its high-end merchandise.

Over the past two years, Alibaba has worked to eliminate counterfeit goods on its various Websites from Taobao and Tmall.

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