Today's Big Gainers: BVF, EJ, AA, PKX, MTL, UMC, AIPC
Monday, June 21, 4:17 PM ET

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For Biovail stockholders, this transaction represents a 15 percent premium based on a calculation of the stock prices over the last 10 trading days.

Shares of Biovail are trading up 11.75% so far today.

China said they will allow its yuan to trade freely versus the dollar, causing a jump in the share price of certain Chinese companies including real estate company E-House China Holdings (NYSE:EJ), up 8.74%. Other beneficiaries of the domestic demand growth that may be created from the currency policy are basic materials companies like Alcoa (NYSE:AA), up 6.75%, POSCO (NYSE:PKX) up 7.25%, and Mechel (NYSE:MTL) up 6.5%.

Elpida Memory, Powertech Technology, and United Microelectronics Corporation (NYSE:UMC) announced their entry into a three-way cooperation to advance 3D IC integration technologies for advanced processes including 28 nanometer. This collaboration will leverage the strengths of Elpida's DRAM, PTI's assembly, and UMC's foundry logic technologies to develop a total 3D IC Logic+DRAM integration solution.

After the announcement shares of United Microelectronics are up 6.75%.

Ralcorp Holdings (RAH) will acquire all of the outstanding shares of American Italian Pasta Company (AIPC) common stock for $53.00 per share in cash, for a total purchase price of approximately $1.2 billion, net of cash acquired.

Shares of AIPC are up 26%.