General Motors Company (NYSE:GM) stock fell 0.10% to $20.52 after the company said in a filing that its GM Financial unit is among the bidders for international operations that auto lender Ally Financial is selling. GM Financial submitted bids in July, but there is no assurance that it will be successful in buying any of the operations. If it were successful, it could expand its operations materially in international markets.
Sprint Nextel Corporation(NYSE:S) shares climbed 1.83% to $5.01 in the early hour after the shares of the company was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating today. The company last released its earnings data on July 26. The company reported ($0.46) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.41) by $0.05. Sprint Nextel’s revenue was up 6.4% compared to the same quarter last year. Analysts expect that Sprint Nextel will post $-1.65 EPS for the current fiscal year.
Get Free Trend Analysis on Sprint
Bioline RX Ltd (NASDAQ:BLRX) shares dropped 10.51% to $2.30. The company will release its unaudited financial results for the three-months ended June 30, 2012 on Wednesday, August 15, 2012, before the U.S. markets open.
FSI International, Inc. (NASDAQ:FSII) shares soared 52.35% to $6.16 in the early hour after Tokyo Electron Ltd (TEL) and FSI International, Inc., announced that they have entered into a definitive agreement under which TEL will acquire FSI for $6.20 per share in cash, or an aggregate equity purchase price of approximately $252.5 million.
Get Free Trend Analysis on FSII
The acquisition, which will be completed pursuant to a cash tender offer followed by a second step merger, has been unanimously approved by the Boards of Directors of TEL and FSI. The Board of Directors of FSI unanimously recommends that FSI’s shareholders tender their shares into the tender offer. The transaction is expected to close in calendar year 2012.
Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA) shares surged 23.31% to 3.65. JMP Securities restated coverage with an "Outperform" rating on Alexza and a price target of $12.00 a share. The firm notes that Alexza ended the quarter with $26.4MM in cash, which can fund operations into the second quarter of 2013. The firm has modeled a $5MM milestone from Grupo Ferrer in 4Q12 for approval of Adasuve, an acute treatment of agitation associated with schizophrenia or bipolar I disorder in adults, in Europe.