In this report: Magma Design Automation (NASDAQ:LAVA), Clearwire (NASDAQ:CLWR) and La-Z-Boy Inc. (NYSE:LZB).
Magma Design Automation (NASDAQ:LAVA) has soared by more than 24 percent during trading so far today after the company was targeted for acquisition by Synopsys. Synopsys has agreed to pay $7.35 per share for Magma Design Automation, valuing the deal at $507 million. The deal is subject to Magma shareholder approval but the deal is expected to close in the second quarter of next year. Sysnopsys said that they will fund the deal with a combination of cash and debt. Magma Design last traded at $7.15 per share.
Clearwire (NASDAQ:CLWR) shares gained more than 22 percent today after the company made a $237 million interest payment to creditors and announcing that it has agreed a network-sharing deal with Sprint Nextel (NYSE:S). The company announced that Sprint will buy wholesale wireless capacity from Clearwire which will see the company get as much as $1.6 billion over the next four years. Clearwire last traded at $2.18 per share.
La-Z-Boy Inc. (NYSE:LZB) share jumped more than 17 percent higher on Thursday after the company reported better than expected results from its second quarter financials. The company reported second quarter earnings of 15 cents per share on revenue of $307.7 million. The earnings results topped analyst expectations by a penny but revenue fell short of the $310 million that Wall Street had predicted. La-Z-Boy last traded at $11.61 per share.
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