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Sorrento Therapeutics Inc (NASDAQ: SRNE) shares climbed 15.65 percent to $13.30. The volume of Sorrento Therapeutics shares traded was 1085 percent higher than normal. Sorrento Therapeutics' NantPharma will purchase Cynviloq for up to $1.3 billion.

Avis Budget Group Inc. (NASDAQ: CAR) surged 9.56 percent to $55.95. The volume of Avis Budget Group shares traded 589 percent higher than normal. Avis Budget's PEG ratio is 0.78.

Straight Path Communications Inc (NYSE: STRP) shares moved up 4.88 percent to $24.50. The volume of Straight Path Communications traded was 230 percent higher than normal. Straight Path Communications shares have jumped 154.47 percent over the past 52 weeks, while the S&P 500 index has gained 12.95 percent in the same period.

Casey's General Stores Inc (NASDAQ: CASY) shares rose 5.72 percent to $88.30. The volume of Casey's shares traded was 174 percent higher than normal. Casey's reported April same-store sales results for stores open for one full year. Its same-store sales for prepared food and fountain climbed 14.0 percent year-over-year, while same-store sales for grocery and other merchandise jumped 9.9 percent in April.

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