Midday movers: Sohu.com, Qihoo

Stocks are higher following Larry Summers' withdrawal from the race for Fed chairman.

By MSN Money Partner Sep 16, 2013 2:25PM
copyright SuperStock, CorbisInformation provided by Theflyonthewall.com

Boise (BZ) agreed to sell itself to Packaging Corporation of America (PKG), sending shares of both, as well as other packaging companies, higher. Near noon Boise was trading up 26%, right at the $12.55 per share price for which it agreed to be acquired. 

Among the notable gainers was Omeros (OMER), which surged 55% to trade near $8 after Wedbush raised its price target on the stock to $28 from $18. 

Also higher were shares of Sohu.com (SOHU), which rose 6% after striking a strategic cooperation deal between its search unit, Sogou, and a leader in China's Internet sector, Tencent (TCEHY). 

The deal may have also contributed to a 4% move lower in shares of Qihoo 360 (QIHU), which was previously speculated as the most likely buyer or partner for Sogou. Among the other noteworthy losers was Perion Network (PERI), which dropped over 10% after agreeing to an all-stock deal to merge with the "Client Connect" business being spun-off by privately held Conduit. 


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