11:15 AM New York – Apple asked shareholders to reject proposed repurchase plan of Carl Icahn in February. Hertz Global adopted shareholder rights plan. Marvell said KKR & Co acquired 6.8% stake. Berkshire Hathaway to buy Phillips 66 unit for $1.4 billion. Revlon exit its China operations.
) gained $3.02 to $557.49 after the mobile and media devices maker said shareholders rejected stock repurchase plan by Carl Icahn at the company''s annual meeting. The company will consider $50 billion buyback proposal in February.
Hertz Global Holdings, Inc
) jumped 5.2% or $1.35 to $27.24 after the rental-car company adopted a shareholder rights plan after the company detected ""unusual and substantial activity"" trading activity in its stock.
Hertz said rights plan will be effective if a shareholder acquires more than 10%.
Marvell Technology Group Ltd
) climbed 5.1% or 70 cents to $14.46 after the private-equity company KKR & Co. LLP acquired 6.8% stake in the fabless chip-maker.
NASDAQ OMX Group, Inc
) rose 22 cents to $40.05 after the trading platform service provider agreed to acquire 5% equity stake in Borsa Istanbul A.S.
) increased 2.2% or $1.69 to $76.41 after the petrochemicals company said Berkshire Hathaway Inc will pay $1.4 billion for the subsidiary Phillips Specialty Products Inc using about 19 million shares. The deal is expected to close in the first-half of 2014.
) rose 11 cents to $24.67 after the cosmetics products maker plans to exit its China operations as part of a restructuring. The company said it will cut 1,100 positions and incur a $22 million charge. The restructuring is expected to generate annual savings of $11 million.
In a regulatory filing Revlon said its China operations account for 2% of total net sales.