Benzinga’s Volume Movers (COGT, GENZ, FOSL, LOGM)
Cogent Inc (NASDAQ: COGT) shares moved up 20.13% to $10.71 at 12:41 pm. The volume of COGT shares traded was 3513% higher than normal. 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.
Genzyme Corporation (NASDAQ: GENZ) shares rose 3.82% to $70.20. The volume of GENZ shares traded was 328% higher than normal. The board of GENZ had rejected an $18.5 billion offer from Sanofi-Aventis SA (NYSE: SNY).
Fossil Inc (NASDAQ: FOSL) shares climbed 5.54% to $48.56. The volume of FOSL shares traded was 160% higher than normal. The board of FOSL has approved a $750 million stock repurchase plan.
LogMein Inc (NASDAQ: LOGM) shares gained 4.24% to $31.75. The volume of LOGM shares traded was 64% higher than normal. LOGM’s quarterly earnings surged 283.80% y/y.
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