Here’s what’s hot in the market today: News Corp. continued to see fall out from its hacking scandal. Warner Music Group saw a jump in trading ahead of Spotify’s U.S. debut. Arch Chemicals surged following its acquisition by Lonza Group. R.R. Donnelly saw continued interest following a month of above average trading. Kandi Technologies got a bump after landing a China deal.
News Corp. (NASDAQ: NWS) fell more than 6% near $16 on almost 5 million shares. Rupert Murdoch’s embattled company continues to experience fallout from the arrest of key editorial staff following accusations of phone hacking and other illegal activity in the U.K. The company’s planned $14 billion acquisition of TV company BskyB is now under threat.
Warner Music Group (NYSE: WMG) stayed relatively steady at above $8, but more than 3 million shares were exchanged midday, compared with the average of more than 1 million. Streaming music business Spotify announced it will open in the U.S. sometime this week. Business Journal reported that Spotfiy is in final talks with WMG to bring its library to the service.
Arch Chemicals (NYSE:ARJ) was up more than 11% to trade near $46.80 on 25-times normal volume. Lonza Group AG announced that it would acquire Arch for more than $1 billion, purchasing all outstanding shares in the company for more than $47 per share.
R.R. Donnelley & Sons (NASDAQ: RRD) fell about 2% to $19.75 on close to 8 million shares. Interest in the printing company has jumped recently following multiple reports singling out RRD for yielding strong dividends.
Kandi Technologies (NASDAQ:KNDI) rose more than 23% to trade near $2.25 on about 10 times normal volume. The all-terrain vehicle manufacturer announced a strategic partnership with China�s Hangzhou Electric Vehicle Service. Kandi will provide Hangzhou with electric vehicles through 2012.
As of this writing, Anthony John Agnello did not own a position in any of the stocks named here. Follow him on Twitter at�@ajohnagnello and�become a fan of�InvestorPlace on Facebook.
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