Leading and Lagging Sectors In trading on Tuesday, telecommunications services shares jumped by 2.57 percent. Meanwhile, top gainers in the sector included China Unicom (Hong Kong) Limited (ADR) (NYSE: CHU), up 6 percent, and China Telecom Corporation Limited (ADR) (NYSE: CHA), up 5 percent. Utilities shares rose by just 1.4 percent in Tuesday’s trading. Meanwhile, top losers in the sector included TransAlta Corporation (USA) (NYSE: TAC), down 3 percent, and American Midstream Partners LP (NYSE: AMID), off 1.4 percent. Top Headline Media General Inc (NYSE: MEG) announced its plans to acquire Meredith Corp (NYSE: MDP) for around $2.34 billion in a cash and stock transaction. The offer of $51.53 per share represents around 12 percent premium to Meredith's closing price on Friday. Equities Trading UP TECO Energy, Inc. (NYSE: TE) shares shot up 24 percent to $26.11 after the company announced it will be acquired by Emera Inc for $10.4 billion. Shares of Immunomedics, Inc. (NASDAQ: IMMU) got a boost, shooting up 16 percent to $2.49 following announcement of interim Phase 2 Results with sacituzumab govitecan in lung cancers. Meredith Corporation (NYSE: MDP) shares were also up, gaining 10 percent to $50.51 after Media General Inc (NYSE: MEG) agreed to acquire Meredith for approximately $2.4 billion. View more earnings on BZSUM Equities Trading DOWN Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE: YGE) shares tumbled 12 percent to $0.641. Yingli Green Energy reported a Q2 ADS loss of $0.53 on revenue of $438.1 million. Shares of Bonanza Creek Energy Inc (NYSE: BCEI) were down 7 percent to $7.01. Cowen downgraded Bonanza Creek Energy from Market Perform to Underperform and lowered the price target from $10.00 to $4.00. Infinera Corp. (NASDAQ: INFN) was down, falling 5 percent to $20.37. Goldman Sachs downgraded Infinera from Neutral to Sell and lowered the price target from $24.00 to $19.00. Commodities In commodity news, oil traded down 1.61 percent to $45.31, while gold traded up 0.01 percent to $1,121.50. Silver traded up 0.90 percent Tuesday to $14.68, while copper rose 3.74 percent to $2.40. Eurozone European shares were higher today. The eurozone’s STOXX 600 surged 1.92 percent, the Spanish Ibex Index jumped 1.31 percent, while Italy’s FTSE MIB Index rose 2.13 percent. Meanwhile, the German DAX climbed 2.36 percent, and the French CAC 40 gained 1.99 percent, while U.K. shares rose 1.69 percent. Economics The NFIB small-business optimism index increased 0.5 points to 95.9 in August. Data on consumer credit for July will be released at 3:00 p.m. ET. See more from Benzinga © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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