Midday movers: Onyx, Apple, BlackBerry

Stocks are higher on the first day of trading for the month, quarter, and second half of the year, following manufacturing data from around the globe.

By MSN Money Partner Jul 1, 2013 1:13PM
 Corbis, SuperStockInformation provided by Theflyonthewall.com

Shares of medium-sized pharmaceutical maker Onyx Pharmaceuticals (ONXX) surged over 50% after the company reported that it had turned down a takeover bid from another, larger drug maker, Amgen (AMGN). Amgen had offered to buy Onyx for $120 per share in cash, the company disclosed, adding that it has authorized its financial adviser to contact other parties and has already received "expressions of interest" from other potential buyers.

Apple (AAPL) shares rose 3% following an upgrade to "strong buy" at research firm Raymond James, along with media reports that the company has already applied to trademark "iWatch" in Japan. 

Among the notable gainers was Steinway Musical (LVB), which rose 15% after agreeing to be acquired by private equity firm Kohlberg & Company for about $438M, or $35 per share in cash. Also higher were shares of Acura Pharmaceuticals (ACUR), which advanced 20% after announcing that partner Pfizer (PFE) will expand commercialization of oxecta, a pain reliever that uses Acura abuse-deterrent technology. 

Among the noteworthy losers was InterDigital (IDCC), which slid 13% after confirming over the weekend that it lost the first round in an ITC case against Huawei, ZTE and Nokia (NOK). Also lower were shares of phonemaker BlackBerry (BBRY), which fell nearly 2% further following downgrades at Morgan Stanley, Needham, Societe Generale and Deutsche Bank.  
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