Gapping up
M&A news: PATH +60.9% (NuPathe to be acquired by Endo Health Solutions (ENDP) for $2.85 per share in cash; in addition, shareholders will receive rights to receive additional cash payments of up to $3.15 per share if specified net sales of NuPathe's migraine treatment ZECUITY are achieved over time), BRD +30% (Primero Mining PPP) to Acquire Brigus Gold; Primero will acquire each outstanding Brigus (BRD) common share for 0.175 of a Primero common share), SLTM +20.6% (Valeant Pharmaceuticals (VRX) agrees to acquire Solta Medical for $2.92 per share in cash; transaction expected to close in the first quarter of 2014), AER +6.3%/ AIG +2.6% (AerCap confirms acquistion of AIG's International Lease Finance Corp), AVGO / LSI halted (Avago Technologies to acquire LSI Corporation for $6.6 bln in cash), S +3.9% (saw late spike on rumor that S could bid for TMUS but there is concern that such an offer could face anti-trust hurdles).
Select financial related names showing strength: ING +1.9%, RBS +1.7%, DB +1.5%, SAN +1.5%.
Select oil/gas related names showing strength: TOT +1.7%, STO +1%, BP +0.9% (Government of the Sultanate of Oman gives the go-ahead to BP for the Khazzan Project ),XOM +0.7% ( upgraded to Buy from Neutral at Goldman).
Other news: HNR +26.9% (announces share purchase agreement to sell interests in Venezuela for aggregate of $400 mln in cash), AGEN +23% (Positive Phase 2 Results from Agenus Brain Cancer Vaccine Published in Neuro-Oncology; Results Show Improved Survival Against Aggressive Brain Cancer; More Than 90% of Patients Alive After Six Months), FVE +16.6% (still checking),PGRX +11.3% ( to extinguish senior debt), LITB +8.7% ( authorizes up to $20 mln share repurchase through Dec 15, 2014 ), TI +6.6% (still checking), YRCW +6.5% ( Solus Alternative Asset Management discloses 14.56% active stake in amended 13D filing out Friday after the close; up from 9.57% previously reported on 12/11 ), HK +6.4% (Halcon Resources intends to offer an additional $400 mln in aggregate principal amount of its 9.75% senior unsecured notes due 2020; lowers its drilling and completions budget guidance for 2014 by 14% to ~ $950 mln), YPF +5.8% (Barron's profiles positive view on YPF), YGE +4.5% ( wins 233 MW of solar PV projects in Algeria)GOL +3.4% (still checking),RYAAY +2.2% (still checking), MYGN +2% (HRD Test significantly predicts response to cisplatin treatment in patients with triple negative breast cancer in second research study), FINL +2% ( following favorable comments on Friday's Mad Money ), CBST +1.9% (Announces Positive Top-Line Results from Phase 3 Trial of Ceftolozane / Tazobactam in Intra-Abdominal Infections; Investigational Antibiotic Meets Primary Endpoint in Second of Two Indications), GILD+1.8% (FDA approves once-daily single tablet HIV-1 regimen Complera for patients switching from a stable regimen ), AMZN +0.8% (may introduce payment installment plans for Kindles, according to reports), IBM +0.6% ( states it will vigorously fight lawsuit filed by Louisiana Sheriff's Pension and Relief Fund), EBAY +0.5% (following positive mention in Barron's), PG +0.4% (considering organization of overseas businesses, according to reports), VZ +0.9% ( Bloomberg discusses that VZ is close to a deal to purchase Intel's TV service), SSRI +0.8% (still checking).
Analyst comments: TASR +3.7% (TASER upgraded to Overweight from Neutral at JP Morgan), URBN +2.6% (Urban Outfitters upgraded to Buy from Neutral at Goldman), BBRY +2% ( upgraded to Mkt Perform from Underperform at Bernstein), LL +1.9% (upgraded to Buy from Neutral at Goldman), C +1% ( upgraded to Overweight from Equal Weight at Evercore),AAPL +0.3% ( target raised to $650 from $600 at Jefferies)
Select financial related names showing strength: ING +1.9%, RBS +1.7%, DB +1.5%, SAN +1.5%.
Select oil/gas related names showing strength: TOT +1.7%, STO +1%, BP +0.9% (Government of the Sultanate of Oman gives the go-ahead to BP for the Khazzan Project ),XOM +0.7% ( upgraded to Buy from Neutral at Goldman).
Other news: HNR +26.9% (announces share purchase agreement to sell interests in Venezuela for aggregate of $400 mln in cash), AGEN +23% (Positive Phase 2 Results from Agenus Brain Cancer Vaccine Published in Neuro-Oncology; Results Show Improved Survival Against Aggressive Brain Cancer; More Than 90% of Patients Alive After Six Months), FVE +16.6% (still checking),PGRX +11.3% ( to extinguish senior debt), LITB +8.7% ( authorizes up to $20 mln share repurchase through Dec 15, 2014 ), TI +6.6% (still checking), YRCW +6.5% ( Solus Alternative Asset Management discloses 14.56% active stake in amended 13D filing out Friday after the close; up from 9.57% previously reported on 12/11 ), HK +6.4% (Halcon Resources intends to offer an additional $400 mln in aggregate principal amount of its 9.75% senior unsecured notes due 2020; lowers its drilling and completions budget guidance for 2014 by 14% to ~ $950 mln), YPF +5.8% (Barron's profiles positive view on YPF), YGE +4.5% ( wins 233 MW of solar PV projects in Algeria)GOL +3.4% (still checking),RYAAY +2.2% (still checking), MYGN +2% (HRD Test significantly predicts response to cisplatin treatment in patients with triple negative breast cancer in second research study), FINL +2% ( following favorable comments on Friday's Mad Money ), CBST +1.9% (Announces Positive Top-Line Results from Phase 3 Trial of Ceftolozane / Tazobactam in Intra-Abdominal Infections; Investigational Antibiotic Meets Primary Endpoint in Second of Two Indications), GILD+1.8% (FDA approves once-daily single tablet HIV-1 regimen Complera for patients switching from a stable regimen ), AMZN +0.8% (may introduce payment installment plans for Kindles, according to reports), IBM +0.6% ( states it will vigorously fight lawsuit filed by Louisiana Sheriff's Pension and Relief Fund), EBAY +0.5% (following positive mention in Barron's), PG +0.4% (considering organization of overseas businesses, according to reports), VZ +0.9% ( Bloomberg discusses that VZ is close to a deal to purchase Intel's TV service), SSRI +0.8% (still checking).
Analyst comments: TASR +3.7% (TASER upgraded to Overweight from Neutral at JP Morgan), URBN +2.6% (Urban Outfitters upgraded to Buy from Neutral at Goldman), BBRY +2% ( upgraded to Mkt Perform from Underperform at Bernstein), LL +1.9% (upgraded to Buy from Neutral at Goldman), C +1% ( upgraded to Overweight from Equal Weight at Evercore),AAPL +0.3% ( target raised to $650 from $600 at Jefferies)