Midday movers: Vanguard, Allergan

Stocks are lower as concerns about the Chinese economy reverberate throughout the world's markets.

By MSN Money Partner Jun 24, 2013 1:13PM
Corbis, SuperStocklogoInformation provided by Theflyonthewall.com

In another health care consolidation deal possibly sparked by "Obamacare" legislation, Tenet Healthcare (THC) agreed to buy Vanguard Health (VHS) for $21 per share in an all-cash transaction. Vanguard shares jumped 69%, while Tenet, which expects the transaction to be accretive to earnings in the first year, saw its stock rise 2% in reaction. 

Among the notable gainers was sTec (STEC), which surged 87% after agreeing to be acquired for $340M in cash, or $6.85 per share, by Western Digital (WDC). 

Also higher were shares of Keynote Systems (KEYN), which jumped 46% after the company agreed to be acquired by private equity investment firm Thoma Bravo for $395M, or $20 per share cash. 

Among the noteworthy losers was Allergan (AGN), which slid 9% amid downgrades from at least four Street firms following the FDA's release of draft guidance for generic Restasis, the company's treatment for chronic dry eye disease. 

Also lower were shares of Solazyme (SZYM), which fell 18% after it announced that it has agreed to dissolve a joint venture with Roquette Freres. 

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