Market Overview

Thursday's Mid-Day Movers: Real Good Solar, Xoom, ConforMIS, Health Net And More

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As Independence Day snoops around the corner, Greece awaits a decision, Puerto Rico sticks around for an answer and a mixed jobs report, Thursday’s market session notably contained many movers.

Winners

Real Goods Solar, Inc. - Class A (NASDAQ: RGSE) spiked 14 percent after concluding a $5 million public offering; It sold Class A common shares alongside Series F common share warrants at the price of $3.65 per unit.

Xoom Corp (NASDAQ: XOOM) soared 22 percent after Ebay’s PayPal reached an agreement to purchase Xoom for $25 per share; totaling to ~$890 million. PayPal aspires to expand its payment services while simultaneously advancing “time-to-market” in its international markets.

Applied Genetic Technologies Corp (NASDAQ: AGTC) climbed 16 percent on a collaborative deal involving Biogen Inc (NASDAQ: BIIB) to develop gene therapies in ophthalmology; Applied Genetics will be receiving $124 million upfront, but will have potential milestone payments and royalties subsequently.

ConforMIS Inc (NASDAQ: CFMS) continues its rally as the new publicly traded stock is lifted 20 percent, after gaining 28 percent on Wednesday. CEO Dr. Philipp Lang told Jim Cramer that the company is a “truly disruptive technology that starts with computer-assisted designs that stem from 3-D CT scans.” He concluded that ConforMIS’ biggest challenge is “simply getting the word out to both patients and surgeons.”

Health Net, Inc. (NYSE: HNT) was up 12 percent after Centene Corp (NYSE: CNC) made a bid for the managed care organization amounting to $6.3 billion.

Aeropostale Inc (NYSE: ARO) was rising 10 percent following plans to open licensed stores in India and Indonesia; In India alone, the clothing retailer plans to open 150 in-store shops and 50 standalone locations.

Losers

Comstock Resources Inc (NYSE: CRK) continues to fall, declining more than 8 percent on the day. The company will divest its properties in Texas amounting to $115 million.

Momenta Pharmaceuticals, Inc. (NASDAQ: MNTA) dwindled almost 9 percent amid a downgrade to Sell by UBS Securities.

Cliffs Natural Resources Inc (NYSE: CLF) fell nearly 10 percent as the stock continues to cope with depressed forecasts for iron ore prices.

Cognizant Technology Solutions Corp (NASDAQ: CTSH) was down nearly 4 percent after the IT company reported that the seven-year master service agreement with Health Net may not be achievable if Health Net merges with Centene.

Posted-In: News Intraday Update Movers

 

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