Below we highlight few companies whose shares are actively trading in Thursday's session.
Southern Union Company (NYSE: SUG) rallied more than 4% after the company confirmed receipt of a revised proposal by The Williams Companies, Inc. (NYSE: WMB) to acquire all of the outstanding shares of Southern Union for $44.00 per share in cash. Southern Union will review the proposal, consistent with its fiduciary duties and its obligations under its revised merger agreement with Energy Transfer Equity, L.P. (NYSE:ETE) announced July 5, 2011. At this time, the Board reaffirmed its recommendation of the existing ETE merger agreement
Shares of RTI International Metals, Inc. (NYSE: RTI) plunged more than 14% after Goldman Sachs downgraded its rating on the company to Sell from Neutral. The firm also lowered its price target on the stock to to $31 from $40 a share, citing margin concerns. In a research note to clients, the firm stated, "We are downgrading RTI to sell from neutral as we believe the market is underestimating the significant margin squeeze RTI may potentially face over the next couple of years due to its inability to pass through the expected increase in titanium sponge prices,"
Pandora Media Inc. (NYSE: P) dropped more than 5% as European rival potify made its long-awaited U.S. debut on Thursday. Earlier this week, Pandora said it reached 100 million registered users, and that it had 36 million active monthly users of its service. Spotify, which launched two years ago, has about 10 million registered users of its service, and 1.6 million paid subscribers. Pandora's shares have fluctuated wildly since the Oakland, Calif.-based company went public in June at $16 a share.
Clean Energy Fuels Corp. (NASDAQ: CLNE) slumped more than 8% after Raymond James downgraded its rating on the company to Outperform from Strong Buy.
Shares of Jazz Pharmaceuticals, Inc. (NASDAQ: JAZZ) rallied more than 4% on Thursday after analysts at Piper Jaffray initiated coverage of the biotech group with an overweight rating.
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