Shares of Eastman Kodak Co. (NYSE: EK) soared as much as 20% in Monday's pre-market trading. On Friday, the U.S. International Trade Commission said it will review a patent decision that ruled Apple Inc. (NASDAQ: AAPL) and Research In Motion (NASDAQ: RIMM) didn’t infringe Kodak’s digital-camera patents.
NYSE Euronext, Inc. (NYSE: NYX) rallied more than 2% in pre-market trading after he Wall Street Journal reported that NASDAQ OMX (NASDAQ: NDAQ) and IntercontinentalExchange (NYSE: ICE) remain in discussions for a possible joint bid for NYSE Euronext.
Shares of FUQI International, Inc. (NASDAQ: FUQI) plunged more than 10% after the company announced that it has received a letter from its independent registered public accounting firm, Marcum LLP pursuant to Section 10A(b)(2) of the Securities Exchange Act of 1934, as amended, regarding an internal investigation conducted at the request of the Company's Audit Committee relating to certain cash transfer transactions involving the Company. The completion of the audit of the company's 2009 financial statement has been delayed due to the internal investigation into the cash transfer transactions.
Shares of Rural/Metro Corporation (NASDAQ: RURL) jumped more than 35% after the company announced that it has agreed to be acquired by the private equity firm Warburg Pincus in an all-cash transaction. Under terms of the agreement, Rural/Metro shareholders will receive $17.25 per share of common stock in cash, representing a 37% premium over the closing price on March 25, 2011 and a 28% premium over the volume weighted average share price over the previous month.
After Friday's closing bell, Watson Pharmaceuticals Inc. (NYSE: WPI) announced that it received a favorable decision from a U.S. court in a patent dispute against Purdue Pharma LP over the painkiller Oxycodone. Watson said it may be entitled to 180 days generic exclusivity.
Liz Claiborne Inc. (NYSE: LIZ) said Monday that it expects to post an adjusted loss before interest, taxes, depreciation and amortization of between $11 million and $17 million in the first quarter.
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