Mid-Day Market Movers (ADAM, MPB, COGT, XFN)

ADAM Inc ADAM jumped 77.60% to $5.63 at 10:23 am. Ebix Inc EBIX has entered into a merger agreement to acquire ADAM on a debt-free basis for $66 million. Mid Penn Bancorp MPB climbed 29.51% to $7.97. MPB’s shares have lost 61.56% over the past 52 weeks, while the S&P 500 index has gained 3.47% in the same period. Cogent Inc COGT shares advanced 20.13% to $10.71. 3M Co MMM has agreed to purchase COGT for more than $900 million or $10.50 per share, representing an 18% premium to COGT’s closing price on Friday. Xfone Inc XFN shares surged 14.15% to $1.21. XFN had reported a 23.2% y/y rise in its revenue from Fiber-To-The-Premise (FTTP) triple play business. Read more from Benzinga's Company news.