Sonic Solutions Ends Trading Up 28.7% (SNIC)
Shares of Sonic Solutions (Nasdaq: SNIC) ended Thursday trading up 28.7% at $14.42 per share.
The company announced late on Wednesday that Rovi Corporation (Nasdaq: ROVI) agreed to buy it in a stock and cash transaction that was valued at $14.17 per share, or $720 million, at the time of the announcement.
The day's trading range for shares of Sonic Solutions was $13.95 to a 52-week high of $14.47 per share.
Analysts covering Sonic Solutions (SNIC) stock gave it a consensus price target of $14.67 per share.
Trading volume for Sonic Solutions was extremely heavy, with 21.1 million shares traded today, far above the daily average volume of 972,000 shares.
Sonic Solutions enables the creation, distribution and enjoyment of digital media from Hollywood to home.
Sonic Solutions technologies deliver a universal platform for Hollywood Studios, retailers, consumer electronics manufacturers, and PC OEMs to provide consumers instant access to premium entertainment from virtually anywhere.
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