Shares of Sears Holdings Corporation (NASDAQ: SHLD), a retailer, rose sharply in trading today.
SHLD shares ended the day 5.72% higher at $54.36 on above average volume of 1.53 million. The stock touched an intra-day high of $55.58 in trading today.
SHLD shares rose after the company today said that it decided to proceed with plans to spin off its Sears Hometown and Outlet businesses and some hardware stores as a separate company. The company said that it expects to raise $346.5 million from the spin off.
Shares of FSI International Inc. (NASDAQ: FSII), a designer, manufacturer, and marketer of equipment used in the fabrication of microelectronics such as advanced semiconductor devices, saw a huge rally in trading today.
FSII shares ended the day 52.48% higher at $6.16 on above average volume of 20.44 million. The stock touched a new 52-week high of $6.20 in trading today.
FSII shares surged after the company agreed to be acquired by Tokyo Electron. Under the terms of the agreement, Tokyo Electron will acquire FSII for $6.20 per share in an all cash transaction. The offer price from Tokyo Electron represents a premium of 53% over FSII’s closing price on August 10. The transaction values FSII at $252.5 million.
Shares of Focus Media Holding Limited (ADR) (NASDAQ: FMCN),a multi platform digital media company operating liquid crystal display network in China, surged in trading today.
FMCN shares ended the day 8.85% higher at $25.45 on above average volume of 14.94 million. The stock touched an intra-day high of $26.46.
FMCN shares rose in trading today after the company said that it reviewing a $3.7 billion offer to go private from a group of investors, which includes the company’s CEO. The offer represents a premium of nearly 15% over FMCN’s closing price last week.
Shares of Yelp Inc. (NYSE: YELP), provider of a platform that connects people with local businesses, tumbled in trading today.
YELP shares ended the day 7.66% lower at $23.87 on above average volume of 690,045. The stock fell to an intra-day low of $23.75 in trading today.
YELP recently announced its second-quarter financial results. The company posted second-quarter net revenue of $32.7 million, representing an increase of 67% over the same period in the previous year.
The company’s cumulative reviews for the quarter rose 54% on a year-over-year basis to more than 30 million. Average monthly unique visitors rose 52% on a year-over-year basis to more than 78 million. Active local business accounts rose 113% on a year-over-year basis to 32,000. The company posted a net loss of $2 million, or $0.03 per share for the second quarter.
Shares of SandRidge Energy Inc. (NYSE: SD), an independent oil and gas company engaged in development and production activities related to the exploitation of its holdings in West Texas and Mid-Continent area of Oklahoma and Kansas, dropped in trading today.
SD shares ended the day 5.56% lower at $6.45 on above average volume of 17.20 million. The stock fell to an intra-day low of $6.41 in trading today.
SandRidge last week announced the pricing of its private placement of a total of $1.1 billion of Senior Notes, which included $825 million of 7.5% Senior Notes due 2023 and $275 million of 7.5% Senior Notes Due 2021. The company plans to use the proceeds from the offering to redeem or repurchase any or all of the 2014 Notes remaining outstanding.
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