Monday, April 4, 2011

After-Hours Movers: NSM, EXPE, CBST

Shares of National Semiconductor (NYSE: NSM) jumped more than 72% in Monday's after-hours trading after it agreed to be acquired by Texas Instruments Incorporated (NYSE: TXN) for $25 per share in an all-cash transaction of about $6.5 billion. 

Expedia, Inc. (NASDAQ: EXPE) rallied more than 5% after it announced tht it has signed a memorandum of understanding (MOU) with American Airlines, a wholly owned subsidiary of AMR Corporation,  that will allow the two companies to resume doing business together, effective immediately. Access to fares and schedule information of American Airlines and its subsidiary American Eagle has been restored for search and ticketing on Expedia and Hotwire sites worldwide initially viaglobal distribution system (GDS) technology.

Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) jumped more than 14% after it announced that it has entered into a license agreement with Teva Parenteral Medicines, Inc. (TPM), Teva Pharmaceuticals USA, Inc. and Teva Pharmaceutical Industries Ltd. (the Teva defendants), which includes a stipulation by the parties requesting dismissal of the lawsuit filed by Cubist in the U.S. District Court for the District of Delaware relating to the Abbreviated New Drug Application (ANDA) filed by TPM with the U.S. Food and Drug Administration (FDA) for a generic version of CUBICIN(R) (daptomycin for injection).

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