NEW YORK (TheStreet) -- Micron Technology (MU - Get Report) surged by double digits as a report surfaced a top Chinese university's investment arm was considering a $23 billion bid for the semiconductor maker. EMC (EMC) tanked following word that David Einhorn's Greenlight Capital divested its holdings in the storage company. Apple (AAPL - Get Report) edged lower as Facebook (FB - Get Report) reportedly is testing a digital personal assistant service similar to Apple's Siri.
Micron Technology spiked 11.4% to close at $19.61.
The memory chip maker got a boost as reports surfaced that Tsinghua Holdings, an investment arm of China's Tsinghua University, is preparing a buyout bid for Micron. According to a Reuters report, Tsinghua is looking at a $23 billion bid for the chip maker and would mark the largest U.S. company buyout by a Chinese company.
Micron stated it has yet to receive an offer by Tsinghua Holdings, according to a Bloomberg report. But such a transaction would bolster China's technology that is used in building memory chips for smartphones and computers. According to Bloomberg, China supplies more than 50% of the semiconductors used around the world.
EMC plunged 3.2% to finish the day at $25.11, on a day when the broader markets advanced.
EMC took a hit after a high-profile institutional investor, David Einhorn's Greenlight Capital, divested its holdings in the storage maker.
Greenlight Capital, according to a report in Insider Monkey, sold off its holdings in the second quarter due to EMC's "reduced chances for a favorable change in its corporate structure, and a lack of growth in its storage business." The firm held 4.2 million shares worth $107.8 million at the close of the first quarter and managed to exit the stock with a small profit, according to Insider Monkey.
Apple edged down 0.04% to close the session at $125.61.
The iconic computer maker may encounter greater competition for its digital mobile personal assistant Siri. Facebook, according to a report in Investor's Business Daily, is testing a similar service which operates under the code name Moneypenny.
Facebook is testing Moneypenny as part of its current Messenger service, according to Investor's Business Daily. The technology is designed to serve as an aide when researching and purchasing services and products, as well as conducting other tasks.
Apple, meanwhile, is expanding its use of Apple Pay to the United Kingdom, according to a BBC report. The UK marks the first country to gain access to the service outside of the U.S., according to the BBC.