In this report: Georgia Gulf Corp. (NYSE:GGC), ZAGG (NASDAQ:ZAGG) and Rovi Corp. (NASDAQ:ROVI).
Georgia Gulf Corp. (NYSE:GGC) is trading over 35 percent higher today after it was announced that the company was the target of an unsolicited takeover offer from Westlake Chemical (NYSE:WLK). Westlake previously bid for the building products maker but decided not to go public with the bid after it was rejected. That offer stood at $1.03 billion, or $30 a share, a 23 percent premium on Thursday’s closing price. The news sent shares in Georgia Gulf Corp. through the roof. The company currently trades 35 percent higher today at $33.08 per share.
ZAGG (NASDAQ:ZAGG) shares have soared by more than 16 percent today after Craig-Hallum said that the company’s new HD InvisibleShield offering is very material for the company and that it could get Wal-Mart as a customer. The analyst holds a ‘Buy’ rating on Craig-Hallum and the note help in pushing shares in ZAGG to a current price of $8.33 per share.
Rovi Corp. (NASDAQ:ROVI) is trading over 14 percent higher today after the company said that it would sell its Roxio product line to Corel Corp. for an undisclosed amount. The company went on to forecast a strong 2012 fiscal year. The company now expects to see earnings of $2.50 to $2.80 per share over the year on revenue of $810 million to $840 million. Analysts on average expect earnings of $2.63 per share on revenue of $826.6 million. Rovi Corp. currently trades at $31.57 per share.
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