Mid-Day Market Movers (ADAM, MPB, COGT, XFN)
ADAM Inc (NASDAQ: ADAM) jumped 77.60% to $5.63 at 10:23 am. Ebix Inc (NASDAQ: EBIX) has entered into a merger agreement to acquire ADAM on a debt-free basis for $66 million.
Mid Penn Bancorp (NASDAQ: MPB) climbed 29.51% to $7.97. MPB’s shares have lost 61.56% over the past 52 weeks, while the S&P 500 index has gained 3.47% in the same period.
Cogent Inc (NASDAQ: COGT) shares advanced 20.13% to $10.71. 3M Co (NYSE: MMM) has agreed to purchase COGT for more than $900 million or $10.50 per share, representing an 18% premium to COGT’s closing price on Friday.
Xfone Inc (AMEX: XFN) shares surged 14.15% to $1.21. XFN had reported a 23.2% y/y rise in its revenue from Fiber-To-The-Premise (FTTP) triple play business.
Read more from Benzinga's Company news.
