Coherent surges, Lumentum falls following announcement Lumentum will acquire Coherent in $5.7B deal Check out this morning's top movers from around Wall Street, compiled by The Fly.
HIGHER -
- Coherent (COHR) up 34% after Lumentum (LITE) and the company announced that they have entered into a definitive agreement under which Lumentum will acquire Coherent in a cash and stock transaction valued at $5.7B
- TransEnterix (TRXC) up 38% after receiving CE Mark approval for the intelligent surgical unit that enables machine vision capabilities on the Senhance Surgical System
- Aclaris Therapeutics (ACRS) up 95% after announcing preliminary topline results from a 12-week clinical trial to investigate the safety, tolerability, pharmacokinetics and pharmacodynamics of ATI-450 in subjects with moderate to severe rheumatoid arthritis
- NIO Inc. (NIO) up 3% after Jefferies analyst Alexious Lee initiated coverage of shares with a Hold rating and $60 price target
- Tesla (TSLA) up 1% after
Jefferies analyst Philippe Houchois raised the firm's price target on the stock to $775 from $650 and maintained a Hold rating on the shares ahead of the company's Q4 report due after hours on January 27
UP AFTER EARNINGS -
- Goldman Sachs (GS) up 2%
- Haliburton (HAL) up 2%
- Mercantile Bank (MBWM) up 3%
DOWN AFTER EARNINGS -
- Bank of America (BAC) down 1%
LOWER -
- Lumentum down 7% after the company and Coherent announced that they have entered into a definitive agreement under which Lumentum will acquire Coherent in a cash and stock transaction valued at $5.7B
- ODP Corporation (ODP) down 1% after the company sent a letter to Staples owner Sycamore Partners concluding that "there is a more compelling path forward to create value for ODP and its shareholders than the potential transaction described in your proposal
"
- NOV Inc. (NOV) down 7% after lowering its Q4 revenue guidance
- ProPhase Labs (PRPH) down 21% after a 3M share secondary offering priced at $12.50 per share
Symbols:
COHR TRXC ACRS NIO TSLA - $826.55 /
-17.94 (-2.12%)
GS HAL MBWM BAC LITE ODP NOV PRPH Keywords: Fly Intel, Wall Street, Top Stories, Stocks