Deal Emerges From the Mainland
Spreadtrum Communications received a takeover offer from China's Tsinghua Holdings valuing the chip maker at $1.31 billion, or $28.50 a share. SPRD rips higher by 24 percent before the bell on my tradeMONSTER platform.
Idenix Craters on Hep-C Drug Delay
Idenix Pharmaceuticals said that the Food & Drug Administration wants additional preclinical safety information for IDX20963, a potential Hepatitis C treatment. That delay is hurting the stock, and IDIX is down 34 percent in early trading!
Oracle Drops on Revenue Miss
Software giant Oracle earned $0.87 a share in the fourth quarter, matching analyst estimates. But revenue of $10.9 billion lagged the $11.12 billion consensus forecast. Growth in the subscription business was also weak and hardware sales continue to disappoint. ORCL falls 7 percent in the premarket.
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