The Traderszone Network

Published in TZ Latest News 15 July, 2014 by The TZ Newswire Staff

Albemarle, BitAuto Turn Tail From New Highs

Even though many top-rated stocks scored new highs Tuesday, many of them reversed lower. Albemarle (ALB) dropped 2.59, or nearly 4%, to 70.03 in a wild session on news that it’s buying rival Rockwood Holdings (ROC) in a cash-and-stock deal valued at $6.2 billion. Albemarle expects about $100 million in cost savings by 2016. Intraday, shares of Albemarle rallied as much as 5% and fell nearly 6%.

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