Billionaire activist investor Carl Icahn increased his offer to purchase Lions Gate Entertainment Corp (NYSE: LGF) on Tuesday to $7.50 a share. Shares were up 12% this morning.

In July, Lions Gate had rejected a hostile bid Icahn made to buy the company for $6.50 per share. In a statement Icahn said that this latest offer would expire on October 22, or there is an extension or withdrawal of the offer.

Icahn said in a statement. “Given its recent decision to issue shares to an insider at $6.20 per share without conducting a market check, we would normally expect that the board must recommend that shareholders accept our offer of $7.50 per share, but with this board anything is possible,”

Lions Gate was not available for comment after the announcement this morning.

Shares of Lions Gate were up 82 cents or 12.6 percent to $7.31 after the announcement.

Hewlett-Packard Co. (NYSE: HPQ) on Monday agreed to pay $55 million to settle claims that it paid kickbacks to companies so they could to win U.S. government business the Justice Department said.

Monday’s announcement finalizes an agreement from earlier this month, where HP reached a settlement with the Justice Department where it would take a charge of 2 cents per share  in the third quarter to settle the claims.

The U.S Justice Department claims The computer giant paid money to influence systems integrator companies so they could recommend HP’s products to government agencies. HP denies any claims that it engaged in any illegal conduct.

Assistant Attorney General Tony West, head of the department’s civil division, said in a statement “Contractors must deal fairly with the government when doing business with federal agencies,”

“We believe it is in the best interest of our stakeholders to resolve the matter and move beyond this issue,” HP said in a statement.

Biotechnology company Genzyme Corp. (Nasdaq: GENZ) opened Monday up $2.38 since it’s previous close. It was the leading advancer among the large-cap drug stocks on Monday afternoon.

Genzyme Corp. announced today that they have rejected the offer from Sanofi-Aventis for a $18.5 billion buyout as the offer undervalues the company.

After months of rumors, the French drug developer Sanofi offered $69 per share for Genzyme on Sunday. Shares of Genzyme hit a high of $70.47 on Monday which suggests shareholders may expect the bid to go even higher.

Genzyme Corp. has been struggling after manufacturing problems for key drugs Cerezyme and Fabrazyme for genetic conditions. Before speculation of a deal Genzyme shares closed at $49.86 on July 1st. Sanofi’s offer marked a 38% premium over that price.

Genzyme Chairman and CEO Henri A. Termeer stated that the board unanimously rejected the offer. The board is “not prepared to engage” in negotiations with an “unrealistic” starting price.

Genzyme focuses on rare genetic disease disorders, renal diseases, orthopedics, cancers, transplant and immune diseases, and diagnostic and predictive testing areas. The company has promising drugs for high cholesterol and other disorders in late development and is considered attractive.

Shares of Genzyme closed at $69.91 on Monday.

Intel Corporation (Nasdaq: INTC) already said they will buy McAfee for $7.68 billion in the last two weeks. Intel announced on Monday that they will also buy German chip maker Infineon for about $1.4 billion in cash.

This will be the second acquisition in two weeks for the U.S. chip maker. CEO of Intel Paul Otellini has said in a press release on Monday that “wireless connectivity continues to grow at an extraordinary rate.” Intel will operate the wireless unit as a standalone business, and the deal is expected to close in the first quarter of next year.

Infineon chips are used in devices that include smart phones and laptops that include iPad and iPhone. In the last fiscal year Infineon’s wireless unit earned about $1.17 billion. It accounted for 30% of the company’s overall revenue.

Intel has attempted to build its own wireless chip business around its Atom core processors but the results have been humdrum. Under CEO Paul Otellini, Intel has moved to expand beyond PC chips. The market for PC chips has been weak as there has been a sudden shift in demand for PCs. Intel and AMD both reported strong second quarters in July, but things shifted last month as analysts said PC manufacturers have begun to scale back their orders from suppliers. Intel has even warned last Friday that the slump in PC demand would cause Intel’s third quarter revenue to fall below its forecasts.

Intel shares closed Monday down over 2%, at $17.96.