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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Marvell Technology Inc | NASDAQ:MRVL | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
2.19 | 3.25% | 69.67 | 69.41 | 69.74 | 69.74 | 67.80 | 68.53 | 11,543,836 | 00:58:01 |
By Ben Eisen, MarketWatch
NEW YORK (MarketWatch) -- Shares of Hertz Global Holdings Inc. got a lift Tuesday after the rental-car company adopted a shareholder-rights plan, while Marvell Technology Group Ltd. benefited from the disclosure of a stake in the company by a private-equity firm.
Gainers
Hertz Global Holdings Inc. (HTZ) shares were up 4.2% Tuesday after the rental-car company said it would adopt a shareholder-rights plan called a poison pill. The firm wants to bar investors from collecting a controlling stake it by pushing a large amount of new shares into the market. Hertz took these measures due to "unusual and substantial" trading activity.
Marvell Technology Group Ltd.(MRVL) shares climbed more than 6% premarket after private-equity company KKR & Co. LLP said in a regulatory filing late Monday that it had bought a 6.8% stake in the chipmaker. KKR may explore a merger or restructuring of the business, which relies on selling chips to makers of flash drives, mobile, and wireless devices, according to Reuters.
Phillips 66 (PSX) shares were up 1.3% after Berkshire Hathaway Inc. (BRKA) (BRK/A) said it was purchasing the company's flow improver business.
Decliners
Apple Inc. (AAPL) fell 0.2%, extending a 1% drop from the previous session, after it told shareholders to reject a shareholder repurchase plan proposed by activist investor Carl Icahn.
Trending tickers
Facebook Inc. (FB) was up 1.3% Tuesday as the social-media company began to reverse a 3.1% loss from the prior session.
Twitter Inc. (TWTR) was up 2.4% premarket following a two-day slide. The momentum stock was down 5.1% on Monday and over 13% on Friday.
Netflix Inc. (NFLX) shares were down 0.3% after the firm said Chief Executive Reed Hastings would get a 50% raise in 2014. He will make a $3 million salary next year and receive $3 million in stock option allowances.
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