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Market Update

U.S. Movers: Citigroup, CoreLogic, Intuit, Nokia, Tribune, TransDigm


Author: Mukesh Buch
ticker.com
Last Update: 11:53 AM ET July 01 2013

11:40 AM New York Citigroup agreed to pay $968 million to Fannie Mae. Intuit plans to sell its financial services unit to Thoma Bravo for $1.03 billion. Nokia agreed to acquire remaining 50% stake in Nokia Siemens Networks. Tribune Co agreed to buy 19 television stations valued $2.73 billion.

Citigroup Inc. (C) gained 2.3% or $1.11 to $49.08 after the bank agreed to pay $968 million to Fannie Mae to resolve claims for breaches of 3.7 million residential first mortgage loans sold to Fannie Mae that originated between 2000 and 2012.

CoreLogic, Inc. (CLGX) jumped 4.9% or $1.13 to $24.30 after the property information provider purchase two units from Decision Insight Information Group for $661 million to expand its property and casualty insurance business.

Intuit Inc (INTU) climbed 4% or $2.47 to $63.51 after the financial management services provider plan to sell its financial services unit to private equity firm Thoma Bravo for $1.03 billion.

Nokia Corporation (NOK) increased 3.3% or 12 cents to $3.87 after the mobile company agreed acquire remaining 50% stake in joint venture Nokia Siemens Networks from Siemens AG. The purchase price for Siemens'' stake is 1.7 billion of which 1.2 billion will be paid in cash at the closing of the transaction.

The transaction is expected to close during the third quarter of 2013.

Onyx Pharmaceuticals, Inc. (ONXX) surged 52% or $45.15 to $131.97 after the company rejected the proposal from Amgen Inc. to purchase all of Onyx Pharmaceuticals outstanding shares and share equipments for $120 per share in cash.

The Tribune Company, television and broadcasting company agreed acquire all of 19 television stations for about $2.725 billion in cash. The transaction is expected to close by the end of this year.

TransDigm Group Inc (TDG) slid 1 cent to $156.76 after the aircraft components supplier acquired the assets of GE Aviation''s Electromechanical Actuation Division for approx $150 million in cash on June 28.

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