Price Target Raised 41 Percent
Citigroup upgraded Baidu to "neutral" from "sell" and raised its target price to $113 from $80. That's pretty interesting given all the strength we've been seeing in other Chinese Internet stocks of late! BIDU rallies more than 6 percent before the opening bell on my tradeMONSTER platform.
No Deal for Heidrick & Struggles
Heidrick & Struggles International is abandoning attempts to sell itself "after consulting with its independent financial advisors." The stock had surged in early June after being approached by private-equity firms. HSII plunges 13 percent in the premarket.
SHFL Rockets on Bally Buyout
SHFL entertainment agreed to be acquired by Bally Technologies for $1.3 billion, or $23.25 a share, in cash. SHFL rallies 22 percent in early trading. Multimedia Games (:MGAM), another casino-game maker, rose more than 4 percent on the buzz.
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