Macy's surges following report of private equity acquisition interest Check out this morning's top movers from around Wall Street, compiled by The Fly.
HIGHER -
- Macy's (M) up 15% after The Wall Street Journal reported an investor group made up of a real-estate investing firm Arkhouse Management and a global asset manager Brigade Capital has presented Macy's with a proposal to acquire the company at $5.8B or $21 per share
- Cigna (CI) up 13% after the Journal reported the company abandoned its pursuit of a tie-up with Humana (HUM) and Cigna issued a press release to announce boosting its share repurchase program by $10B as well as shifting its focus to pursue "bolt on acquisitions"
- Nike (NKE) up 1% after Citi upgraded shares to Buy with a price target of $135, up from $100
- Spotify (SPOT) up 1% after Rosenblatt upgraded the stock to Buy with a price target of $300, up from $150
LOWER -
- Biomea Fusion (BMEA) down 17% after reporting top line data of the 200 mg dose cohorts from the ongoing Phase II clinical study COVALENT-111
- Affimed (AFMD) down 6% after discontinuing enrollment in AFM24-102 into the gastric cancer cohort and the basket cohort evaluating pancreatic cancer, biliary tract cancer and hepatocellular carcinoma
- RingCentral (RNG) down 3% after announcing that Tarek Robbiati and the company agreed that Robbiati would separate from the company and resign from the board of directors and that chairman Vlad Shmunis will return to the role
- Occidental Petroleum (OXY) down 1% after entering into a purchase agreement to acquire Midland-based oil and gas producer CrownRock L.P., a joint venture of CrownQuest Operating and Lime Rock Partners, for cash and stock in a transaction valued at approximately $12B, including the assumption of CrownRock's debt
Symbols:
M CI NKE SPOT RNG BMEA OXY AFMD HUM Keywords: Fly Intel, Wall Street, Top Stories, Stocks