Leap Wireless Soars 14 on Buyout Offer

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Market Update :

Leap Wireless Soars 14% on Buyout Offer

Author: Elena Todorova
123jump.com
Last Update: 10:16 AM EDT September 04 2007

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Wall Street opened mixed, waiting indications from economic data whether the Fed Reserve will reduce interest rates at the FOMC meeting central in two weeks. In corporate news, Yahoo jumped 4.6% after Bear Stearns named the company''s stock as a top pick. On the deal news front, discount wireless phone service provider MetroPCS Communications offered to buy rival Leap Wireless International for about $5.12 billion in stock. Leap Wireless surged 14%.

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