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It was a relatively tame day in the stock market as most of the major indexes were down marginally, but several notable companies dominated the headlines. InvenSense soared over more 17.5% on the news that Japan’s TDK Corp. has agreed to take over the company, Twitter once again struggled, and Microsoft secured a new contract with the Department of Defense.
Also, investors seem to have their eyes on the New Year already, and that means several companies that might be preparing for an early 2017 IPO are in focus.
Shares of InvenSense Inc. gained around 17.5% Wednesday after the company agreed to be taken over by Japan’s TDK Corp. (TTDKY - Free Report) . Under the terms of the deal, TDK will acquire all outstanding InvenSense shares for $13.00 per share, which represents a 19.9% premium to yesterday’s closing price.
Tech giant Microsoft Corp. (MSFT - Free Report) has scored a $927 million, five-year contract to provide technical support to the U.S. Defense Information Systems Agency (DISA). The company’s contract is noncompetitive, single-award, firm-fixed, and indefinite-delivery/indefinite-quantity.
Shares of Twitter fell more than 4.4% in morning trading Wednesday as the departure of two more executives has both analysts and investors feeling like it’s time to give up on the struggling social media company.
Vice Media, which started as a local Canadian magazine in the early 90s, has steadily grown into a journalism powerhouse and has almost single- handedly kept the withering art of investigative reporting alive. Now, the millennial-favorite news outlet is on the cusp of becoming a global media giant as it considers an IPO in 2017.
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Stock Market Roundup, Dec. 21: TDK Buys INVN, MSFT Nabs DoD Contract
It was a relatively tame day in the stock market as most of the major indexes were down marginally, but several notable companies dominated the headlines. InvenSense soared over more 17.5% on the news that Japan’s TDK Corp. has agreed to take over the company, Twitter once again struggled, and Microsoft secured a new contract with the Department of Defense.
Also, investors seem to have their eyes on the New Year already, and that means several companies that might be preparing for an early 2017 IPO are in focus.
Zacks Rank #1 (Strong Buy) Biggest Movers
Value: Braskem (BAK - Free Report) - +3.85%
Growth: Health Insurance Innovations - +7.69%
Momentum: Melco Crown Entertainment - +3.80%
VGM: BAK
Income: TransMontaigne Partners - +5.88%
Major Indexes
DOW: 19,948.22 / -26.40 / -0.13%
NASDAQ: 5,476.21 / -7.73/ -0.14%
S&P 500: 2,266.84 / -3.92 / -0.17%
Top Headlines
InvenSense Rallies 17.5% in TDK Acquisition Deal
Shares of InvenSense Inc. gained around 17.5% Wednesday after the company agreed to be taken over by Japan’s TDK Corp. (TTDKY - Free Report) . Under the terms of the deal, TDK will acquire all outstanding InvenSense shares for $13.00 per share, which represents a 19.9% premium to yesterday’s closing price.
Microsoft Scores $927 Million Department of Defense Support Contract
Tech giant Microsoft Corp. (MSFT - Free Report) has scored a $927 million, five-year contract to provide technical support to the U.S. Defense Information Systems Agency (DISA). The company’s contract is noncompetitive, single-award, firm-fixed, and indefinite-delivery/indefinite-quantity.
Here's Why Twitter Stock Is Falling Today
Shares of Twitter fell more than 4.4% in morning trading Wednesday as the departure of two more executives has both analysts and investors feeling like it’s time to give up on the struggling social media company.
Will Vice Media IPO in 2017? Everything Investors Need To Know
Vice Media, which started as a local Canadian magazine in the early 90s, has steadily grown into a journalism powerhouse and has almost single- handedly kept the withering art of investigative reporting alive. Now, the millennial-favorite news outlet is on the cusp of becoming a global media giant as it considers an IPO in 2017.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>