MARKET PULSE-Supertex, AutoNavi, Sprint, Boardwalk, Famous Dave's

Mon Feb 10, 2014 3:45pm EST
 
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(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s)

Feb 10 (Reuters) - U.S. stocks were little changed on Monday, on the heels of the S&P 500's best two-day performance in four months and ahead of new Federal Reserve Chair Janet Yellen's first testimony before lawmakers on Tuesday. Dow Jones industrial average futures were down 0.34 percent at 15,685, S&P 500 futures were up 0.04 percent at 1,794.2 and Nasdaq 100 futures were up 0.58 percent at 3,578.5.

** SUPERTEX INC, $32.97, +35.23 pct

** MICROCHIP TECHNOLOGY INC, $44.75, +0.70 pct

Chipmaker Microchip Technology said it would buy Supertex for $394 million in cash to bolster its business that supplies to the medical, LED lighting, industrial and telecommunication industries.

The offer of $33 per share represents a premium of 35 percent to Supertex stock's Friday closing price of $24.38.

** AUTONAVI HOLDINGS LTD, $20.55, +24.24 pct   Continued...