2016-10-24 09:05:14 | On The Fly: Pre-market MoversHIGHER: B/E Aerospace (BEAV), up 16% after Rockwell Collins (COL) agreed to acquire B/E for approximately $6.4B in cash and stock, plus the assumption of $1.9B in net debt... Hilton Worldwide (HLT), up 4% after Chinese conglomerate HNA Group agreed to acquire an approximate 25% equity interest in Hilton from affiliates of nd Blackstone (BX). The transaction, valued at approximately $6.5B, or $26.25 per share in cash, reduces Blackstone's interest in Hilton to approximately 21%. UP AFTER EARNINGS: T-Mobile (TMUS), up 4%. LOWER: AT&T (T), down 3% after announcing an agreement to acquire Time Warner (TWX) in a stock-and-cash transaction valued at $107.50 per share. Time Warner shareholders will receive $107.50 per share under the terms of the merger, comprised of $53.75 per share in cash and $53.75 per share in AT&T stock. Time Warner shares are down 1.5% after the deal, which was previewed at length by media outlets on Friday, was announced as official by the companies over the weekend... Rockwell Collins, down 3% after announcing its deal to buy B/E Aerospace... ARIAD (ARIA), down 4.4% after JPMorgan analyst Anupam Rama downgraded the stock to Underweight from Neutral... Inovio Pharmaceuticals (INO), down 19% after the U.S. FDA placed a clinical hold on its proposed phase III clinical program for VGX-3100... Aduro Biotech (ADRO), down 11% after the U.S. FDA placed on partial clinical hold its trials with investigational agents based on its LADD, or Listeria-based immunotherapy construct, platform following notification to the FDA that a blood culture sample from an indwelling port of a metastatic pancreatic cancer patient who presented with gastrointestinal symptoms tested positive for Listeria... Syngenta (SYT), down 5% after EU antitrust authorities said ChemChina failed to offer concessions to allay competition concerns voiced by the European Commission. DOWN AFTER EARNINGS: VF Corp. (VFC), down 2% after saying it was "not satisfied" with its third quarter results and cut its FY16 EPS view amid "especially sluggish retail conditions" in the Americas. | |
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