Orbcomm skyrockets following GI Partners transaction to acquire the company for $1.1B Check out this morning's top movers from around Wall Street, compiled by The Fly.
HIGHER -
- Orbcomm (ORBC) up 51% after announcing that it has entered into a definitive agreement to be acquired by GI Partners in an all-cash transaction that values the company at approximately $1.1B including net debt, or $11.50 per share
- AVC Technologies (AVCT) up 35% after announcing that it has received an unsolicited non-binding proposal, subject to certain conditions, to acquire all of the issued and outstanding shares of common stock of the company for a price of approximately $9.00 per share
- Immutep (IMMP) up 13% after announcing its lead product candidate eftilagimod alpha has received Fast Track designation in first line recurrent or metastatic HNSCC from the FDA
- GameStop (GME) up 5% after announcing it intends to elect Ryan Cohen as chairman
- Canopy Growth (CGC) up 1% after entering into a definitive arrangement agreement under which Canopy will acquire all of Supreme Cannabis' (SPRWF) issued and outstanding common shares in a transaction valued at approximately $435M on a fully-diluted basis
- Aprea Therapeutics (APRE) up 16% after receiving FDA orphan drug designation for acute myeloid leukemia
DOWN AFTER EARNINGS -
- Conagra (CAG) down 1%
- Apogee Enterprises (APOG) down 1%
LOWER -
- Valero (VLO) down 1% after reporting preliminary Q1 EPS
- Box (BOX) down 6% after announcing KKR (KKR) will lead the purchase of $500M of the company's convertible preferred stock
- Otonomy (OTIC) down 7% after 6.29M share Spot Secondary priced at $2.25
- Amyris (AMRS) down 5% after $250M offering of common stock
Symbols:
ORBC IMMP GME AVCT CAG APOG VLO BOX OTIC AMRS CGC Keywords: Fly Intel, Wall Street, Top Stories, Stocks