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Major Movers on February 4; APKT, ORCL, BRO, HLF, DECK

Shares of Acme Packet Inc. (NASDAQ: APKT), a provider of session delivery network solutions, are seeing a huge rally in trading today after the company agreed to be acquired by Oracle Corp. (NASDAQ: ORCL). Under the terms of the agreement, Oracle will acquire APKT for $29.25 per share in cash.

The transaction would enable the acceleration of migration to all-IP networks by allowing secure and reliable communications from any device, across any network.

Andy Ory, CEO of Acme Packet, said that APKT brings deep domain expertise and proven, mission-critical solutions to enable all-IP networks. Oracle President Mark Hurd, meanwhile, said that the proposed acquisition of APKT is another important piece in ORCL’s overall strategy to deliver integrated best-in-class products that address critical customer requirements in key industries.

At last check, APKT shares were trading 22.29% higher at $29.26 on above average volume of 11.59 million. The stock hit an intra-day high of $29.67 earlier today. ORCL shares, meanwhile, are currently trading 1.05% lower at $35.83 on volume of 1.84 million. The stock fell to an intra-day low of $35.75.

Shares of Brown & Brown Inc. (NYSE: BRO), a diversified insurance agency, wholesale brokerage, insurance programs and service-organization, are climbing in trading today after the company reported its fourth-quarter financial results.

For the fourth quarter ended December 31, 2012, Brown & Brown reported net income of $42.637 million, or $0.29 per share, compared to $36.49 million, or $0.25 per share reported for the same period in the previous year. Total revenue for the fourth quarter of 2012 was $302.83 million, compared to $244.09 million reported for the same period in the previous year.

J. Powell Brown, President and CEO of Brown & Brown, said that the fourth-quarter results were the culmination of the hard work of its 6,300-plus teammates throughout 2012.

BRO shares rose to a 52-week high of $29.66 in trading today before paring some of the gains. At last check, the stock was trading 6.66% higher at $29.32 on volume of 475,185.

Shares of Herbalife Ltd. (NYSE: HLF), a global network marketing company engaged in the sale of weight management, nutritional supplements, energy, sports and fitness products and personal care products, are down sharply in trading today after the New York Post reported that the company is facing a law enforcement probe.

The New York Post said in a report that it has obtained documents from the U.S. Federal Trade Commission that show a “law enforcement investigation” and “pending law enforcement action.”

At last check, HLF shares were trading 5.42% lower at $33.17 on volume of 7.08 million. The stock fell to an intra-day low of $30.84 earlier today.

Shares of Deckers Outdoor Corp. (NASDAQ: DECK), a designer, producer, marketer, and brand manager of footwear, apparel and accessories, are up sharply in trading today after Jefferies raised its price target on the stock.

Analysts at Jefferies raised their price target on DECK from $50 to $60. Jefferies has a Buy rating on the stock.

DECK shares rose to an intra-day high of $42.79 in trading today. At last check, the stock was trading 5.19% higher at $41.99 on volume of 928,181.

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