Microsoft Corporation Falls On Quarterly Charge (FIRE, ROSE, CDNS, CYN, MSFT)
Sourcefire, Inc. (NASDAQ:FIRE) shares declined 1.72% to $51.50 in the after hour trading after the company announced that the company’s Chief Executive Officer, John Burris, has taken a medical leave of absence to undergo a series of treatments for colon cancer. The Board of Directors has named Martin F. Roesch interim Chief Executive Officer to provide seamless leadership continuity and continued execution across the company’s strategic initiatives. Mr. Roesch is the Company’s Chief Technology Officer and a member of the Board of Directors. He will retain his current responsibilities while serving as interim Chief Executive Officer.
Rosetta Resources Inc. (NASDAQ:ROSE) stock climbed 4.17% to $38.01 in the after hour trading. Rosetta Resources Inc. will replace Catalyst Health Solutions Inc. (nasdaq:CHSI) in the S&P MidCap 400 index after the close of trading on Thursday, July 5, 2012. SXC Health Solutions Corp. (nasdaq:SXCI) is acquiring Catalyst Health Solutions in a deal expected to be completed tonight pending final approvals.
Cadence Design Systems, Inc. (NASDAQ:CDNS) announced that it has acquired Sigrity, Inc., a signal and power integrity technology provider. The acquisition of Sigrity was completed on July 2, 2012 at a purchase price of approximately $80 million. The combination of Sigrity analysis technologies with Cadence Allegro(R) and OrCAD(R) design tools will provide a comprehensive front-to-back integrated flow to enable system and semiconductor companies to deliver high-performance devices employing gigabit interface protocols such as DDR and PCI Express.
City National Corp (NYSE:CYN)’s subsidiary, City National Bank, announced that it completed its acquisition of Rochdale Investment Management. Rochdale will combine with City National Asset Management to form a new registered investment advisor within the bank’s wealth management group. The new firm, City National Rochdale Investments, will operate as a wholly owned subsidiary of City National Bank.
Microsoft Corporation (NASDAQ:MSFT) stock fell 1.87% to $29.99 in the after hour trading after the company warned that it will take a quarterly charge of more than $6 billion related to an acquisition. The company said it would report noncash, non-tax-deductible goodwill asset impairment charge of $6.2 billion in the fourth quarter, largely in connection with its 2007 acquisition of aQuantive.