Midday movers: Dell, Intel, Allergan
US markets were mixed as the tech-heavy Nasdaq slipped into negative ground right near noon.
Dell (DELL) shares rose nearly 3% after investment advisory firm ISS recommended shareholders in the struggling computer maker vote in favor of the $24.4 billion, or $13.65 per share, takeover offer made by founder and CEO Michael Dell in partnership with private equity firm Silver Lake.
Among the notable gainers was Turquoise Hill Resources (TRQ), which gained 7% following a report that a major copper mining project in Mongolia that has been delayed is finally set to begin shipments.
Also higher were shares of Allergan (AGN), which rose over 2% after Bloomberg said in its Real M&A column that the recent slide in the drug maker's shares have made it cheaper for potential acquirers.
Among the noteworthy losers was Intel (INTC), which slid about 4% following a downgrade to Underweight at Evercore.
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The company is scrambling to protect its equities arm, which could face declining volume and revenue as competitors close the gap.
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