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Market Update

U.S. Movers: AIG, BlackRock, LSI, Opko Health, Sprint, USEC

Author: Mukesh Buch
Last Update: 11:34 AM ET December 16 2013

11:20 AM New York LSI agreed to be acquired by Singapore-based chip maker Avago for $6.6 billion. AIG agreed to sell its aircraft leasing business to AerCap. BlackRock said it has complied with the Italian disclosure requirement for its stake in Telecom Italia.

American International Group Inc (AIG) increased 1.5% or 72 cents to $50.45 after the reached a deal to sell its 100% interest in International Lease Finance Corp to AerCap Holdings N.V. The transaction is expected to close in the second quarter of 2014.

BlackRock, Inc (BLK) jumped 1.7% or $4.95 to $302.75 and the asset manager said it has complied with Italian disclosure requirements. The investment company holds 7.783% voting rights in Telecom Italia, according to media reports.

Telecom Italia said today it had no information from BlackRock regarding increase of its stake to 10.14% as shown by U.S. regulatory filings.

LSI Corporation surged 38.6% or $3.06 to $10.97 after the storage and networking chip developer agreed to be acquired by Singapore-based chip maker Avago Technologies Ltd for $11.15 a share in a deal valued at $6.6 billion.

Opko Health Inc (OPK) rose 4 cents to $9.01 after the pharmaceutical company agreed to acquire a Uruguay based Laboratorio Arama de Uruguay Limitada. The transaction is expected to close in January.

Sprint Corporation (S) gained 2.7% or 23 cents to $8.65 on media speculation that the company is seeking to takeover T-Mobile.

USEC Inc (USU) tumbled 56.3% or $4.95 to $3.86 after the energy company said it expects to file for bankruptcy protection as part of a deal with its bondholders.

As of Sept., the uranium producer had total debt of $640.4 million and cash and equivalents of $128.4 million.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc