Monday, August 30, 2010

Day Trader's Alert: SKH, INTC, GENZ

After Friday's closing bell, Skilled Healthcare Group, Inc. (NYSE: SKH) announced that the Superior Court of the State of California, County of Humboldt, denied the Motion for Mistrial or New Trial on Grounds of Juror Misconduct filed previously by the company.

Intel Corp. (NASDAQ: INTC) on Monday said that it has agreed to buy Infineon's Wireless Solutions Business, called WLS, in a cash transaction valued at approximately $1.4 billion. The deal is expected to close in the first quarter of 2011.

Genzyme Corp. (NASDAQ: GENZ) announced Monday that its board affirmed its rejection of French drugmaker Sanofi-Aventis SA’s (NYSE: SNY) unsolicited $18.5 billion cash offer. Sanofi-Aventis, in a letter to Genzyme Chief Executive Officer Henri A. Termeer, offered $69 a share, repeating a proposal it made July 29 that Genzyme rejected. Shares of Genzyme soared as much as 4% in pre-market trading.

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