Mid-Day Market Movers For Monday, June 23, 2014
Agile Therapeutics (NASDAQ: AGRX) - 35.56% - Shares surged more than 40 percent to around $8 over the last month following the IPO. The price stalled at this level on both Thursday and Friday's session but broke out sharply Monday. Volume is extremely heavy: more than 1.4 million shares have already exchanged hands, compared to average daily volume of about 300k.
OHR Pharmaceutical (NASDAQ: OHRP) - 17.74% - The stock flirted with the $9.50 level throughout Friday's session and broke above that level and the $10 level Monday. Shares charged through the $11 level, hitting a session high at $11.77.
Integrys Energy Group (NYSE: TEG) - 11.98% - Wisconsin Energy (NYSE: WEC) agreed to buy Integrys for $9.1 billion. Under the deal approved by both boards, Wisconsin will be spending $5.7 billion of cash and stock. Including debt, the companies said the total value of the deal is $9.1 billion. Integrys shareholders will receive $18.58 in cash and 1.128 Wisconsin Energy shares per share of Integrys, totaling $71.47. This is 17.3 percent over Integrys' Friday closing price.
PLX Technology (NASDAQ: PLXT) - 9.01% - Avago Technologies Limited (NASDAQ: AVGO) and PLX Technology announced have entered into a definitive agreement where Avago will acquire PLX in an all-cash transaction for about $309 million, or $293 million net of cash and debt acquired. Avago plans on pursuing a tender offer for all of the outstanding shares of PLX Technology's common stock for $6.50 per share in cash.
Central Garden & Pet Company (NASDAQ: CENT) - 7.78% -Harbinger Group (NYSE: HRG) released a statement to Central Garden shareholders regarding its attempt to purchase the company for $750 million in cash at a price of $10.00 in cash per share.
ParkerVision (NASDAQ: PRKR) - 60.47% - ParkerVision investors were depending on a positive outcome in a lawsuit against Qualcomm (NASDAQ: QCOM). All motions were denied as a matter of “moot” except for a retrial on the basis of non infringement.
Meritor (NYSE: MTOR) - 13.02% - The company reached a $500 million settlement with Eaton (NYSE: ETN) related to an anti-trust suit filed in 2006. The company's board also authorized a repurchase of up to $210 million.
Agios Pharmaceuticals (NASDAQ: AGIO) - 12.08% - Biotech cancer drug companies are lagging inter day due to secular changes.
Merus Labs International (NASDAQ: MSLI) - 9.65% - shares rallied more than 50 percent since news the offering size would be raised by 3M shares on June 12. Traders appear to be taking some profits Monday following a nearly 22 percent move higher on Friday
Altisource Residential (NYSE: RESI) - 6.91% - Private equity firm Lone Star Funds placed a bid for $3.9 billion to obtain loans from the Department of Housing and Urban Development.
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