Despite a $44 billion railroad acquisition, stock futures were in the red following a sell off in the European markets.
Here are some of the early-market movers for Tuesday.
Burlington Northern Santa Fe Corp (BNI)
In Warren Buffett's largest acquisition to date, Berkshire Hathaway announced it will acquire the remaining 77% of the Burlington Northern Santa Fe Corp. in a cash and stock deal valued at $44 billion. Burlington shares jumped 28.8% in pre-market trading.
Black & Decker Corp (BDK)
Shares jumped 23.2% in pre-market trading Tuesday after the company announced late Monday it would be acquired by Stanley Works (SWK) in a $3.46 billion stock Black & Decker shareholders will receive 1.275 Stanley for each Black & Decker share they own.
Sonic Solutions (SNIC)
The company announced it has entered into a strategic relationship with Best Buy Co., Inc. (BBY) to provide its Roxio CinemaNow line of digital on-demand entertainment products. As part of the agreement, Best Buy acquired warrants which would it to purchase shares of Sonic Solutions common stock. Sonic shares were up 23.6% in pre-market trading.
ATS Medical Inc. (ATSI)
Shares were up 14.2% after the company released third-quarter results in line with analyst expectations reporting a loss of 1 cent per share. Revenue for the quarter was $18.8 million, up 17.3% for the same period last year. The company said that it may generate a net income for the fourth quarter and was upgraded by analysts at Piper Jaffrey to “overweight” from “neutral.”
CSX Corp. (CSX)
CSX Shares were up 8.6% after analysts at Stifel Nicolaus raised its rating to “buy” from “hold.”
Peet's Coffee & Tea Inc. (PEET)
Shares were down 6% in pre-market trading after the company announced it has agreed to acquire Diedrich Coffee Inc. (DDRX) for in a stock and cash deal valued at $213 million in cash.
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