Gapping up
In reaction to strong earnings/guidance: N/A
M&A news:
In reaction to strong earnings/guidance: N/A
M&A news:
- RPTP +19.9% (to be acquired by Horizon Pharma (HZNP) for $9.00/share, for an implied fully diluted equity value of ~$800 million)
- POT +4.4% (Potash and Agrium (AGU) announce $36 bln merger of equals)
- TRNC +3% (TRNC and and Gannett (GCI) are in 'active' discussions, according to Bloomberg sources)
Other news:
- CUR +75% (announces private placement of common stock and convertible preferred stock for gross proceeds of $20 mln)
- NVGN +18.6% (receives confirmation from the FDA that the IND application for Cantrixil has been successfully opened)
- CLSN +14.2% (announces NIH analysis concluded that increased burn time per tumor volume substantially improved survival in patients treated with ThermoDox)
- CTRV +11.2% (presents new preclinical data profiling the 'robust' anti-HBV activity of its CRV431)
- REXX +9.1% (provides an update on its Appalachian Basin operations, currently drilling second of four wells on the Vaughn pad for Dec 2016 sales, expects Q3 production to be at the high end of previously announced guidance)
- PRGO +4.5% (Activist investor Starboard is said to have accumulated a near 5% stake, will push for the company to hire advisors to help it focus on its core assets, according to the WSJ)
- CEL +2.7% (updates on its proposed Golan Teleco purchase; co to allow Golan Telecom (as an exception to its 'no shop' obligation) to conduct negotiations with two third parties)
- NVO +2% (Barron's profiles positive view on Novo Nordisk)
- SHPG +1.5% (likely in sympathy with upgrades to peers AZN and NVO)
- OPTT +1.4% (may be related to news of gov't contract on Friday)
Analyst comments:
- P +4.6% (upgraded to Buy from Neutral at SunTrust)
- NVO +2% (upgraded to Buy from Hold at Deutsche Bank)
- AZN +1.3% (upgraded to Buy from Hold at Jefferies)