Midday movers: Onyx, Amgen

Stocks are higher despite orders for durable goods suffering their biggest drop in nearly a year in July.

By MSN Money Partner Aug 26, 2013 2:35PM
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After previously rejecting an unsolicited proposal from Amgen (AMGN) to be acquired for $120 per share, Onyx Pharmaceuticals (ONXX) reached a deal to be bought out by Amgen for the increased price of $125 per share, or $9.7B net of estimated Onyx cash. The deal, which had been largely telegraphed in ongoing media reports of the companies' negotiations, still sent shares of both higher, with Onyx rising over 5% and Amgen gaining more than 9%. 

Among the notable gainers was TMS International (TMS), which rose 12% after agreeing to be acquired by The Pritzker Organization for $17.50 per share in cash. 

Also higher were shares of 3D Systems (DDD), which advanced 9% after Citigroup initiated coverage of the stock with a "buy" rating.
 
Among the noteworthy losers was Rigel Pharmaceuticals (RIGL), which fell 12% after one of the company's drugs did not meet the endpoints in study of its potential use in asthma treatment. 

Also lower was Noah Holdings (NOAH), which slid nearly 10% following a downgrade at JPMorgan.
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