Movie rental chain Blockbuster Inc. offered more than $1 billion for Circuit City Stores Inc. on Monday, sending shares of the electronics retailer up sharply and kicking off a week that produced a number of big movers.
Circuit City shares rose $1.07, or 27.4 percent, to close the day at $4.97 at nearly five times its average daily trading volume, while Blockbuster fell 32 cents, or 10.2 percent, to $2.81.
Shares of Circuit City declined as the week continued, but still finished the week 21.3 percent higher.
Blockbuster's stock wavered throughout the week, finishing less than 2 percent lower.
Affymetrix Inc. saw its shares tumble to their lowest price in more than nine years on Tuesday. The maker of the GeneChip genetic data analysis system lowered its full-year sales outlook because of softer spending from pharmaceutical and industrial customers.
The stock dropped $5.38, or 33 percent, to close at $10.95 Tuesday at 14 times its average trading volume. Shares traded as low as $10.08 during the session, their lowest trade since 1998.
On Wednesday, shares of Intel Corp. jumped $1.22, or 5.8 percent, to $22.13 after first-quarter earnings topped Wall Street expectations. The chip maker also offered a rosy outlook for 2008.
Intel's stock finished the week up 7.8 percent from Tuesday's closing price.
Nokia Corp. saw its shares tumble on Thursday, after the world's biggest mobile phone maker posted weaker-than-expected first-quarter earnings. Shares of the Finland-based company fell 14.1 percent to close at $28.95 after trading at around five times its average volume.
On Friday, shares of Intuitive Surgical Inc. declined $60, or 17.2 percent, to $288.50, after the medical device maker's full-year sales forecast missed analyst expectations. Although Intuitive Surgical posted an 88 percent higher quarterly profit, investors focused on the outlook.
Terms & Conditions
RSS Headlines
Fool UK