Oxford, MS 4/5/2011 (Penny PayDay) -- National Semiconductor was surging 72.8% to $24.17 in premarket trading Tuesday after it agreed to be acquired by Texas Instruments in an all-cash deal worth $6.5 billion, or $25 a share. Texas Instruments was falling 2.9% to $33.11.Following the announcement of the Texas Instruments and National Semiconductor deal, chipmaker Linear Technology was rising 1.3% to $33.52 in premarket trading, while peer Maxim Integrated Products was up 2.5% to $25.98.
Questcor Pharmaceuticals was popping 18% to $17.60 after it forecasted strong first-quarter results with sales projected at $48.6 million.
Cubist Pharmaceuticals was surging 15.4% to $29.13 in premarket trading after the company settled a patent lawsuit related to its Cubicin drug for blood infections with Teva Pharmaceuticals and hammered out a licensing agreement.
The Nasdaq-100 Index plans to undergo a rebalancing prior to the market open on May 2, which includes reducing the weighting of Apple. Shares of Apple were falling 1.5% to $336.08.
Carrier Southwest Airlines was falling 0.5% to $12.40 as experts say they suspect that short-haul flights led to the damage of its Boeing 737-300 aircraft.
Google was flat at $587.24 as the Internet search giant faces a possible antitrust investigation by the Federal Trade Commission on top of the ones it already faces in Texas and the European Union. The company may also be investigated in Ohio.
Specialty apparel maker Express said some of its shareholders plan to sell 16.5 million shares of its common stock. Express won't receive any proceeds from the offering.
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