Madison Square Garden hits new high on split; Catamaran and Auspex soar on deals

Here’s a look at some of the stocks the Yahoo Finance team will be tracking for you today.

Madison Square Garden (MSG) shares hitting a new high in early trading. The owner of the New York Knicks and New York Rangers said it would spin off its sports and entertainment businesses into two separate publicly traded companies. The tax-free spinoff is expected to be completed later this year.

Catamaran (CTRX) shares are soaring. The pharmacy benefits manager is being bought by UnitedHealth for about $12.8 billion or $61.50 a share in cash. The nation's biggest health insurer will merge Catamaran with its OptumRX unit in an effort to better compete with bigger players in the industry, such as Express Scripts (ESRX). Shares of UnitedHealth (UNH) are higher on the news.

Auspex Pharmaceuticals (ASPX) shares are surging. Teva Pharmaceutical is acquiring the drugmaker for about $3.2 billion or $101 dollars a share in cash. The deal gives Teva more access to drugs to treat disorders of the central nervous system.  Shares of Teva (TEVA) are lower on the news.

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Best Buy (BBY) shares are also in the spotlight. The consumer electronics retailer will close 66 Future shops in Canada and will rebrand the remaining stores into its namesake stores. The move will result in 1,500 job cuts in the country and will hurt earnings this year by $0.10 to $0.20 a share.

Cal-Maine Foods (CALM) also on investors’ watch list. The largest producer and marketer of eggs in the U.S. reporting earnings per share that missed analysts' estimates by a nickel, but revenue topped expectations. Sales rose nearly 11% from a year earlier thanks to strong demand for specialty eggs during the holiday period.