Market Overview

Morning Market Movers (CLDA, OCCF, SSCC, GXDX)

Clinical Data Inc (NASDAQ: CLDA) climbed 55.22% to $23.33 at 9:50 am. The Food and Drug Administration (FDA) approved the CLDA's depression drug Viibryd.

Optical Cable Corporation (NASDAQ: OCCF) shares surged 35.14% to $5.00. OCCF reported 31.1% y/y surge in its Q4 net sales.

Smurfit-Stone Container Corp (NYSE: SSCC) jumped 29.14% to $35.54. RockTenn Co (NYSE: RKT) agreed to purchase SSCC in a cash and stock deal worth $35 per share, or about $3.5 billion, representing a 27% premium to SSCC's closing price on Friday.

Genoptix Inc (NASDAQ: GXDX) shares advanced 25.76% to $24.85. Novartis AG (NYSE: NVS) announced its plans to buy GXDX for $470 million, or $25 per share, representing a 39% premium over GXDX's share value on December 13, 2010.

Read more from Benzinga's Markets.

Posted-In: Morning Market MoversIntraday Update Markets Movers

 

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