8 Super Hot Early Movers: Western Digital Pops 3%, While Pharmasset Surges 85%
Shares of Western Digital (NYSE:WDC) are popping 3% this morning after the company said that an arbitrator in Minnesota ruled against the company in a dispute with Seagate Technology (NASDAQ:STX). Claims by Seagate Technology were filed against Western Digital and a former Seagate employee.
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Pharmasset Inc. (NASDAQ:VRUS) is ripping 85% higher at the open after agreeing to be acquired for $137 per share by Gilead Sciences Inc. (NASDAQ:GILD). In a statement, the companies explained the deal was already approved by Pharmasset’s board.
Tyson Foods Inc. (NYSE:TSN) is down 2% after announcing fourth quarter results. Net income for Tyson Foods Inc. fell to $97 million (26 cents per share), compared to $213 million (57 cents per share) a year earlier. This is a decline of 54.5% from the year earlier quarter.
Shares of Toll Brothers Inc. (NYSE:TOL) announced it will pay an undisclosed price to purchase CamWest Development LLC in a bid by the home builder to move to Seattle. Shares are currently down about 2%.
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