Kellogg gains following plan to separate into three public companies Check out this morning's top movers from around Wall Street, compiled by The Fly.
HIGHER -
- Kellogg (K) up 6% after announcing a plan to separate its North American cereal and plant-based foods businesses, via tax-free spin-offs, resulting in three independent public companies
- Tesla (TSLA) up 3% after Bloomberg reported the company is cutting its total headcount by up to 3.5%, with plans to reduce its salaried workforce by about 10%
- Spirit Airlines (SAVE) up 8% after JetBlue (JBLU) announced that it is further improving its offer to acquire all of the outstanding common stock of Spirit
- Mondelez (MDLZ) up 1% after announcing an agreement to acquire Clif Bar & Company for $2.9B with additional contingent earnout consideration
- Valneva (VALN) up 83% after the company and Pfizer (PFE) announced that they have entered into an equity subscription agreement and have updated the terms of their collaboration and license agreement for Lyme disease vaccine candidate VLA15
UP AFTER EARNINGS -
- Lennar (LEN) up 2%
- Reservoir Media (RSVR) up 9%
- Acasti Pharma (ACST) up 6%
LOWER -
- Acadia Pharmaceuticals (ACAD) down 29% after an Advisory Committee convened by the FDA voted 9 to 3 that the evidence presented does not support a conclusion that pimavanserin is effective for the treatment of hallucinations and delusions in the Alzheimer's disease psychosis population
- International Paper (IP) down 1% after Citi analyst Anthony Pettinari downgraded shares to Neutral from Buy with a price target of $46, down from $53
- WestRock (WRK) down 3% after Pettinari downgraded the stock to Neutral from Buy with a price target of $45, down from $53
Symbols:
K TSLA - $650.06 /
+10.73 (+1.68%)
SAVE MDLZ VALN PFE LEN RSVR ACST ACAD IP WRK JBLU Keywords: Fly Intel, Wall Street, Top Stories, Stocks