Gapping up
In reaction to strong earnings/guidance:
In reaction to strong earnings/guidance:
- PETS +3.7%, PHG +3.3%, VFC +2.3%, HAL +2%,
M&A news:
- WBMD +19.7% (confirms agreement to be acquired by KKR (KKR) for $66.50/share in cash)
- NDRM +15.5% (NeuroDerm to be acquired by Mitsubishi Tanabe Pharma for $39.00 per share)
Other news:
- DRYS +11.1% (rebounding following Friday's weakness)
- OCN +4.8% (to transfer its interest in mortgage servicing rights and subservicing relating to approx. $110 billion UPB of non-agency MSRs to New Residential Investment (NRZ); in conjunction, NRZ has agreed to make an equity investment of approx. $13.9 mln to purchase approx. 4.9% of Ocwen's common equity), .
Analyst comments:
- DOVA +1.5% (downgraded to Underweight at First Analysis Sec)
- CAT +0.7% (upgraded to Outperform at BMO Capital Markets)