2016-10-28 08:55:52 | On The Fly: Pre-market MoversUP AFTER EARNINGS: Cirrus Logic (CRUS), up 7%... Baidu (BIDU), up 3.4%... Hershey (HSY), up 1.4%... Chevron (CVX), up 0.6%. ALSO HIGHER: Baker Hughes (BHI), up 7% after The Wall Street Journal claimed, citing people familiar with the matter, that General Electric (GE) is looking to acquire the company. In response, GE's Matt Cribbins, VP, Investor Communications, said the following: "In response to the speculation in the media, I wanted to inform you that GE has been in discussion with Baker Hughes on potential partnerships. While nothing is concluded, none of these options include an outright purchase."... Marvell Technology (MRVL), up 4% after Bloomberg said the company is close to hiring Goldman Sachs as an adviser after having rejected a series of bids from a Chinese investor group. DOWN AFTER EARNINGS: Amazon (AMZN), down 5.3%... Exxon Mobil (XOM), down 1.4%... Teladoc (TDOC), down 7.7%. ALSO LOWER: McKesson (MCK), down 16.6% after reporting worse than expected Q2 results, reducing its 2017 EPS guidance and being downgraded by several Wall Street research firms. Peers Cardinal Health (CAH), which is down 11%, and AmerisourceBergen (ABC), down 11.9%, are also sliding in the wake of McKesson's report... Cempra (CEMP), down 18% after reporting earnings and disclosing that the FDA may not allow the company to use API produced by Wockhardt for approval and commercial supply of solithromycin... Senomyx (SNMX), down 41% after PepsiCo (PEP) informed the company that it will not be proceeding with a national launch of the reformulated version of Mug Root Beer containing Sweetmyx S617. | |
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