@Road Inc. (ARDI US) rose 52 cents, or 7.7 percent, to
$7.23 and traded as high as $7.24. Trimble Navigation Ltd. (TRMB
US), a maker of global-positioning equipment, said in a
statement that it agreed to buy @Road Inc. for $496 million, to
move into the field of mobile resources management, or tracking
employees in the field. Trimble will pay $7.50 a share, of which
$5 will be cash and $2.50 will be a combination of cash and
stock, Trimble said in a statement.
Biomet Inc. (BMET US) rose $1.60, or 4 percent, to $41.50
and traded a high as $41.89. Smith & Nephew Plc, a London-based
maker of medical devices, may bid more than 5 billion pounds
($9.8 billion) for the U.S. maker of artificial joints, the
Sunday Telegraph reported yesterday, without saying where it got
the information. A Smith & Nephew spokesman declined to comment.
Claire's Stores Inc. (CLE US) rose $1.29, or 3.9 percent,
to $34.29 and traded as high as $37.49. The teen-oriented
jewelry retailer entered a second round of bidding and four
companies made offers that were reported to be about $39 a
share, Women's Wear Daily said. The deal could be valued at
about $3.8 billion, or $39.50 a share, the publication said,
citing unidentified people in the financial business.
Corus Group Plc (CGA US) American depositary receipts, each
representing two shares, gained $1.27, or 6.6 percent, to $20.64
and traded as high as $20.64. Cia. Siderurgica Nacional of
Brazil raised its offer for Corus Group Plc, the U.K.'s largest
steelmaker, to 4.9 billion pounds ($9.6 billion), topping a
sweetened bid from Tata Steel Ltd. CSN agreed to pay 515 pence
for each share, 3 percent more than the 500 pence that Mumbai-
based Tata offered. Corus is recommending the CSN bid, it said
in a statement.
EFJ Inc. (EFJI US) rose 67 cents, or 12 percent, to $6.14
and traded as high as $6.25. The maker of radios and repeaters
said in a statement that its EFJohnson Co. unit won a $76
million order from the U.S. Department of defense for portable
radios and other equipment.
First Niagara Financial Group Inc. (FNFG US) rose 55 cents,
or 3.8 percent, to $14.91 and traded as high as $15. The holding
company for First Niagara Bank, Cortland Savings Bank, and
Cayuga Bank said Chief Executive Officer Paul Kolkmeyer resigned
and is being replaced by Chief Financial Officer John Koelmel
because Kolkmeyer and the board had a different philosophy on
strategy.
Global Sources Ltd. (GSOL US) gained $2.56, or 18 percent,
to $16.56 and traded as high as $16.78. The company, which
matches buyers and sellers through Web sites and publications,
was recommended by CNBC host Jim Cramer on his ``Mad Money''
television program because it's positioned to profit from
growing Chinese exports.
Hubbell Inc. (HUB/B US) fell $6.54, or 12 percent, to
$46.17 and traded as low as $45.63. The maker of lighting and
electrical products lowered its annual profit forecast to as
much as $2.58 a share, blaming a slowdown in construction work.
The rating was cut to ``hold'' from ``buy'' at A.G. Edwards.
Idera Pharmaceuticals Inc. (IDP US) rose 69 cents, or 12
percent, to $6.30 and traded as high as $6.99. Merck & Co. (MRK
US), the second-biggest U.S. drugmaker by market value, will pay
Idera as much as $445 million for compounds to enhance vaccines,
including one being developed against Alzheimer's disease.
Medicines Co. (MDCO US) fell $2.23, or 6.7 percent, to
$30.87 and traded as low as $28.86. The U.S. Senate failed to
approve a measure to extend the patent on the drug developer's
only drug, the blood-thinner Angiomax. It missed by one day a
deadline for seeking an extension of the Angiomax patent, which
expires in 2010.
Neopharm Inc. (NEOL US) fell $4.93, or 73 percent, to $1.79
and traded as low as $1.70. The biotechnology company said in a
statement that its candidate for the treatment of recurrent
glioblastoma multiforme did not meet the efficacy endpoint in a
Phase 3 clinical trial.
