US stocks rose on Tuesday as better-than-expected economic data boosted investor confidence.
Below we highlight few companies whose shares are actively trading in Tuesday's session.
Shares of Lions Gate Entertainment Corp. (NYSE: LGF) soared more than 13% on Tuesday after billionaire investor Carl C. Icahn raised his tender offer for shares of independent film studio to $7.50 from $6.50 a share.
Skilled Healthcare Group, Inc. (NYSE: SKH) jumped more than 25% after it announced that further court proceedings in the case entitled VINNIE LAVENDER, by and through her Conservator, WANDA BAKER; WALTER SIMON; JACQUELYN VILCHINSKY vs. SKILLED HEALTHCARE GROUP, INC., et al (and 22 individually-named California nursing facilities receiving administrative services from Skilled Healthcare, LLC) have been postponed until September 2, 2010. The proceedings were previously scheduled to begin on August 31, 2010. Settlement discussions in the case are ongoing.
Mediacom Communications Corporation (NASDAQ: MCCC) slumped more than 15% after Rocco B. Commisso, the founder, Chairman and Chief Executive Officer announced that he has withdrawn his May 31, 2010 non-binding offer to purchase all of the shares of Mediacom not currently owned by him. Mr. Commisso reached this decision after the Special Committee of Mediacom's Board of Directors rejected a meaningful increase to his initial offer price, and despite Mr. Commisso's agreement that acceptance of such offer would be subject to the approval of the holders of a majority of shares of Mediacom that Mr. Commisso does not own.
TASER International, Inc. (NASDAQ: TASR) rose more than 1% after it announced that on August 30, 2010, the United States District Court for the District of Arizona entered judgment in favor of TASER International, Inc. against Stinger Systems, Inc. on Count One of TASER's complaint and further ordered that "Stinger is hereby adjudged to have infringed claims 2 and 40 of United States Patent No. 6,999,295 and that "Claims 2 and 40 of the '295 patent are hereby adjudged to be valid and enforceable."
Disclosure: Author doesn't own any of the stocks discussed here.
