Kenexa Soars On Acquisition News (PANL, KNXA, AAPL, OESX, RIMM)

Kenexa Soars On Acquisition News (PANL, KNXA, AAPL, OESX, RIMM)

Universal Display Corporation (NASDAQ:PANL) declined 9.92$% to $38.39. Canaccord Genuity restated a hold rating on the stock with a price target of $30.00. Recently, the Company reported second quarter net income of $11.0 million or $0.23 per diluted share compared to net income of $3.3 million or loss of $0.03 per diluted share in the prior year period. Revenues were $30.0 million compared to $11.3 million in the prior year period.

Kenexa Corporation (NYSE:KNXA) surged up 41.49% to $45.83. International Business Machines Corp and Kenexa Corporation have entered into a definitive agreement. IBM will acquire Kenexa in a cash transaction at a price of $46 per share or a total purchase price of approximately $1.3 billion. Kenexa is a leading provider of recruiting and talent management solutions. IBM said the Kenexa acquisition will complement its social business and HR business services leadership.

Apple Inc (NASDAQ:AAPL) soared 2.02% to $676.61 on a traded volume of 7.19 million shares. A federal court jury said that Samsung Electronics Co infringed six Apple patents and awarding $1.05 billion in damages in a closely watched case over mobile devices.

Orion Energy Systems Inc (NYSEAMEX: OESX) plunged 2.01% to $1.95. The Company has received a subpoena issued by the staff of the Securities and Exchange Commission requesting certain documents and information generally related to the Company’s financial reporting of its sales of solar photovoltaic systems. The Company intends to fully cooperate with the SEC regarding this fact-finding inquiry.

Research In Motion Limited (USA) (NASDAQ:RIMM) increased 3.24% to $7.16 on a traded volume 11.07 million shares. According to report from Reuters, the Company is looking to sell cloud services provider NewBay and some of the other minor assets it recently acquired. This is a part of a strategic review process. NewBay is a provider of photo, video, and social-networking tools for smartphones and computers.