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Korn/Ferry International (KFY) Climbed After Acquisition Of Hay Group

Korn/Ferry International (KFY) announced Thursday morning that it has agreed to acquire Hay Group for approximately $452 million.

Korn/Ferry International gapped up at the open Thursday and posted gains in early trade, before settling into a range. Shares finished up by 1.11 at $35.26 on the highest volume of the year. The stock closed challenging resistance, trading at a 2-week high.

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First quarter growth data from China gained the maximum focus this week as trends in the massive emerging economy impact its trading partners. Elsewhere, the IMF released its latest global macroeconomic projections. Read our story to find out why comments from the Fed Chair Powell damped rate cut expectations. Meanwhile, there was some survey data that kindled hopes of a recovery in manufacturing. In the U.K., inflation data for March revealed some confusing trends.

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