Stake Could More Than Double
Google announced it will buy 6.3 percent of Himax Technologies, which has been involved in the display for Google Glass. The deal lets GOOG increase its stake to almost 15 percent within a year, although financial details were not disclosed. HIMX rockets 35 percent before the opening bell on my tradeMONSTER platform.
Nash-Finch Acquired in All-Stock Deal
Food distributors Spartan Stores and Nash-Finch are tying the knot in a $1.3 billion all-stock merger. The combined company will have $7.5 billion in revenue and enjoy $50 million of cost savings. NAFC rallied 27 percent and SPTN is up 21 percent in the premarket.
McDonald's Earnings, Revenue Miss
McDonald's earned just $1.38 a share in its second quarter on revenue of $7.08 billion. Analysts had expected $1.40 and $7.09 billion, respectively. Management also predicted that "results for the remainder of the year are expected to remain challenged." MCD falls 2 percent in early trading.