By Saumya Vaishampayan, MarketWatch
NEW YORK (MarketWatch) -- Shares of Amgen, Onyx Pharmaceuticals and Qihoo 360 Technology surged in premarket trade Monday while Microsoft continued to draw attention from investors. Investors will also watch to see how Facebook trades, with shares pushing above their all-time high in premarket action.
Shares of Expedia Inc. (EXPE) were up 3%. The company last week announced a long-term agreement with industry rival Travelocity.
Amgen Inc. (AMGN) shares rose about 5%. The company agreed to buy Onyx Pharmaceuticals Inc. (ONXX) for $10.4 billion on Sunday, in a transaction that will give Amgen access to Onyx's cancer-drug pipeline. Amgen will pay $125 per Onyx share in cash and the deal is expected to close by the start of the fourth quarter. Shares of Onyx Pharmaceuticals were up nearly 6%.
Anadarko Petroleum Corp. (APC) shares gained 3%. The company on Sunday agreed to sell its 10% stake in a Mozambique offshore natural-gas field for $2.64 billion in cash. The sale, to a subsidiary of Oil and Natural Gas Corp. Ltd. in India, is expected to close by year end.
Peabody Energy Corp. (BTU) shares jumped 3%. The company stands to see gains in its stock price as coal prices are set to improve, according to a report in Barron's.
Shares of Qihoo 360 Technology (QIHU) surged 10%. The Chinese Internet company posted a 372% jump in second-quarter profit to $33 million from $7 million a year earlier. Revenue more than doubled to $151.7 million from $72.8 million in the year-ago period.
Top Tickers Trending
$MSFT Microsoft Corp. (MSFT) continued to attract attention Monday in the wake of Chief Executive Steve Ballmer's retirement announcement on Friday. The decision to announce on Friday was a lot sooner than originally planned due in part to pressure from activist investor ValueAct, according to a report in AllThingsD.
$FB Facebook Inc. (FB) shares inched up nearly 1% premarket, fetching $40.83 recently. That's higher than Friday's closing price of $40.55, the highest ever for Facebook.
-Saumya Vaishampayan; 415-439-6400; AskNewswires@dowjones.com
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08-26-13 0854ETCopyright (c) 2013 Dow Jones & Company, Inc.
|Monday's movers: Amgen, Onyx, Qihoo 360 ()|
|UPDATE: Monday's movers: Amgen, Onyx gain on mega-deal ()|
|UPDATE: Monday's movers: Amgen, Onyx gain on mega-deal (2013/8/26)|
|Qihoo 360 Reports Second Quarter 2013 Unaudited Financial Results (2013/8/25)|
|Qihoo 360 Technology Co., Ltd. Announces Offering of US$550 Million Convertible Senior Notes ()|
|Qihoo 360 Technology Co., Ltd. Prices Offering of US$550 Million of Convertible Senior Notes (2013/8/28)|
|Qihoo 360 Technology Co. Ltd. Announces Closing of Offering of US$600 Million of Convertible Senior Notes ()|
|Qihoo 360 to Announce Second Quarter 2013 Financial Results on August 26, 2013 (2013/8/13)|
|Qihoo 360 to Announce Third Quarter 2013 Financial Results on November 25, 2013 (2013/11/11)|
|UPDATE: Monday's movers: Amgen leads S&P 500 on mega-deal ()|
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