Market Overview

Tech Stocks Fly, Pharma Stocks Cry! (DELL, HPQ, PAR, CML, CVLT, ISLN, TPL, JAZZ, EPCT, CPIX)

Tech Stocks Fly, Pharma Stocks Cry! DELL, HPQ, PAR, CML, CVLT, ISLN, TPL, JAZZ, EPCT, CPIX

In a day when M&A activities dominated the trading sessions, quite a few stocks stood out. Some were hot, while others languished at the bottom. Store manufacturer 3PAR Inc (NASDAQ: PAR) saw its shares rise by more than 40%, after HP (NYSE: HPQ) announced a deal to acquire PAR at $24/share, all-cash, or $1.6 billion. The deal price is about 33% higher than Dell’s (NASDAQ: DELL) recent bid for 3PAR.

Compellent Technologies’ (NYSE: CML) shares witnessed a rise of more than 10% following HP’s bid for 3PAR. According to Patrick Walravens of JMP Securities, the bidding war for 3PAR has “positive implications” for CML.

CommVault Systems’ (NASDAQ: CVLT) shares also spiked more than 13% following HP’s interest to acquire 3PAR. Other notable stocks to gain include Ecotality Inc. (NASDAQ: ECTY), which jumped more than 17%, Isilon Systems (NASDAQ: ISLN), which gained more than 11%, and Texas Pacific Land Trust (NYSE: TPL), which surged more than 14%.

On the other end of the spectrum, it has been a bad day for Pharma stocks mainly due to the FDA delaying product approvals. EpiCept Corp (NASDAQ: EPCT) saw its shares tumble more than 40%, Jazz Pharmaceuticals’ (NASDAQ: JAZZ) shares tumbled more than 23%, and Cumberland Pharmaceuticals (NASDAQ: CPIX) also joined the free-falling bandwagon. CPIX’s shares took a nosedive of more than 9% in today’s trading.

PAR is trading at $25.69, up 42.41%. HPQ is trading at $39.13, down 1.83%. DELL is trading at $11.89, down 1.49%. CML is trading at $15.58, up 11.68%. CVLT is trading at $23.73, up 14.14%. ECTY is trading at $2.88, up 17.55%. ISLN is trading at $19.92, up 11.72%. TPL is trading at $30.40, up 13.99%.

EPCT is trading at $0.66, down 39.66%. JAZZ is trading at $7.85, down 23.26%, and CPIX is trading at $5.45, down 9.47%.

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