Dell Inc. (NASDAQ:DELL): Closing price $12.87
The feared activist investor Carl Icahn warned the special committee of Dell’s board not to be “fooled” by Dell’s revised bid, which needs a rule change in the manner in which the transaction is passed by shareholders in order to be approved. Twice, shareholders have been ready to vote on a February plan by Michael Dell and private-equity firm Silver Lake to take the company private during the past month, and both times the vote has been postponed. Last week, Michael Dell caused the second delay after he hiked his offer by 10 cents to $13.75 per share, adding $150 million to the transaction. However, this is contingent on a modification in the voting rules that would require a majority of shares that are voted in order to win — the current rules mandate that abstentions are “no” votes.
Intel Corp. (NASDAQ:INTC): Closing price $23.24
Chief Financial Officer Stacy Smith remarked in an interview on Bloomberg TV that the decline of the traditional PC market will deepen, as consumers transition to tablets and other mobile devices. Smith commented, “What you’re seeing is a transition of the classic PC market into these kinds of things. If you think about the PC as being a classic computer that you might have used two or three years ago, I think that device declines.” Intel now has chips that were created to power smartphones, tablets, laptops that convert into tablets, and thin notebook computers, allowing it to make up for falling PC sales and retake shares it has lost to rivals in those new markets, according to Smith.
Synta Pharmaceuticals Corp. (NASDAQ:SNTA): Closing price $7.15
Synta shares are up over 41 percent in heavy trading near the Monday close, after the firm said that preliminary results from a mid-stage study of its drug ganetespib in breast cancer patients supported an expansion of the evaluation. According to the design of the trial, it could advance to the second stage of enrollment if a minimum of one patient attained objective tumor response, which is a measure of reduction in tumor size. The study, codenamed ENCHANT-1, indicated that four patients achieved an objective tumor response.