Market Overview

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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Posted-In: JMP SecutitiesLong Ideas News Intraday Update Markets Movers Trading Ideas


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