Shares of Sutron Corporation (STRN) are jumping by 65% to $8.43 at the start of trading on Monday morning, after the company announced it will be acquired by Hach Company Affiliate for $8.50 per share for a total enterprise value of $39 million, net of cash.
Glenn Cruger, President of Hach Environmental, commented, “Sutron is an excellent complement to Ott Hydromet’s portfolio of water quality, quantity and telemetry solutions with global reach that meets customer’s needs for integrated, seamless hydromet networks of sensors, communications and software. This combination will further build out our strong platform of environmental monitoring solutions designed to help our customers solve their most challenging water resources problems.”
Shares of Fitbit Inc. (FIT) ) are higher by 7.48% to $34.93 in pre-market trading on Monday following a Barron’s article suggesting that Fitbit, the maker of bracelets that track your steps and count your calories, may be a takeover target. Fitbit closed up nearly 50% on Thursday, its first day trading as a public company, at $29.68.
Shares of Apple Inc. (AAPL) are up $0.75, or 0.59%, at $127.35, in early trading. The tech giant reversed its policy and now plans to pay music artists royalties during the free trial period for its new Apple Music service.
Facebook, Inc. (FB) — Reuters reports the social networking giant is gaining ground on Google’s YouTube as an outlet for big companies to market their products via online videos, the fastest growing category of Internet ads. Facebook is expected to unveil new mobile ad formats at an advertising conference in Cannes, France today.
China Information Technology, Inc. (CNIT) is a big mover this pre-market session, as its shares are up 16.07%. The surge came after the company announced that its Board of Directors has received a preliminary non-binding ‘going private’ proposal for $4.43 a share. The offer represents a 30% premium above the average closing price of the company’s ordinary shares over the last 15 trading days up to and including June 18, 2015.