Precision Capstars surges as Warren Buffet's Berkshire Hathaway agrees to buy the aerospace company. Dean Foods tumbles as second-quarter sales miss Wall Street estimates. IBM rises as Buffett signals new stake buy. Alibaba gains as it agrees to buy a 20 percent of a Chinese retail giant.
Below are some of the main news-driven share price changes among U.S.-listed stocks at 11:00 a.m.:
RISERS:
Precision Castparts (NYSE:PCP) surged 19.1 percent to $230.87. The maker of equipment for the aerospace and energy industries agreed to be sold to Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A) in a deal valued at $37.2 billion, including debt. Berkshire shares fell 1.2 percent to $212,800.00.
IBM (NYSE:IBM) rose 1 percent to $156.62 after Buffett's comments on CNBC were interpreted to mean that he would be interested in buying more stock in the tech hardware firm.
Twitter (NYSE:TWTR) climbed 3.7 percent to $28.04 after the microblogging site announced a new multiyear partnership with the National Football League (NFL) to deliver uniquely packaged official NFL video and other types of content to fans daily, year-round.
Alibaba (NYSE:BABA) gained 2 percent to $80.37. The Chinese e-commerce giant will take a 19.99 percent stake, 28.3 billion yuan ($4.56 billion), in Chinese electronics retailer Suning Commerce Group.
FALLERS:
Dean Foods (NYSE:DF) tumbled 11.8 percent to $15.63 after the largest U.S. dairy processor reported a larger-than-expected decline in second-quarter sales, weakened by lower volumes.
CVR Partners (NYSE:UAN) dropped 2.4 percent to $10.44. The ammonia maker said it would acquire Rentech Nitrogen Partners (NYSE:RNF) for about $533 million. Rentech soared 26.4 percent to $12.70.
Mallinckrodt (NYSE:MNK) fell 1.4 percent to $98.96 after the Irish drugmaker said it would buy immunotherapy company Therakos in a deal valued at about $1.33 billion.