Market Update

Shares of Tredegar Corporation

dropped about 2.5% after the company's subsidiary, Tredegar Film Products Corporation, agreed to buy 100% of the equity interests of Terphane Holdings LLC for around $188 million. Shares of Canadian Solar Inc

fell about 3.1% after the company updated its forecast for the third quarter. The company now projects shipments to be in line with earlier guidance of 350 MW to 360 MW. It now projects its gross margin to be in the range of 2% to 5%, versus its earlier forecast of 9% to 12%. Shares of Anadys Pharmaceuticals Inc

jumped about 252% after Roche Holding AG

agreed to buy Anadys Pharmaceuticals for $230 million in cash. Roche will pay $3.7 per Anadys share, representing a 256% premium to the stocks' closing price of on October 14. Hennes & Mauritz AB

reported a 7% drop in its September comparable sales. Hennes & Mauritz's total sales, including value-added tax, climbed 3%. At September 30, Hennes & Mauritz operated 2,363 stores, up from 2,111, in the year-ago period.