Shares of CVS Health (CVS) took a blow on Wednesday after it was reported that Amazon is looking to get into the pharmacy supply chain business. CVS stock declined -2.89% and closed the session at 80.70. The company’s shares are just another in a growing list of companies whose stock has been impacted negatively by the prospect of direct competition with Amazon. Keep an eye on CVS for further developments.
Shares of Chicago Bridge & Iron Company (CBI) rose strongly in trading on Tuesday after an unconfirmed rumor stated that the company would likely be taken over soon for a price of $25.50 per share. No further details have since emerged. The company has been rumored earlier this year to be a takeover target, but the stock price movement and volume this time around seems to suggest that a takeover is much more likely at this point. CBI shares finished the session at 16.28, up +7.32%. Keep an eye on CBI for further developments.
Shares of Clovis Oncology (CLVS) rose strongly in trading on Monday after a rumors circulated that the company is a takeover target. The company has been the subject of such rumors in the past, and its relatively small $3.5B market cap makes it a likely acquisition target. CLVS shares closed up +10.48% to settle at 76.74. Keep an eye on the stock for further developments.
Shares of Target Corporation (TGT) dropped sharply in trading on Friday after it was reported that the company was permanently discounting prices on many items in order to become more competitive against Amazon.com. Retail stores have been under increasing pressure against Amazon, and TGT management has signaled that it will make adjustments in order to assure that the company continues to be profitable. TGT shares closed down -1.99% to settle at 57.27. Keep an eye on TGT for further news.
Share of Bristol Myers (BMY) rose strongly in trading on Thursday after they ended a phase 3 trial early due to positive results. The company was evaluating using its Opdivo plus Yervoy in patients with previously untreated advanced or metastatic renal cell carcinoma. BMY shares ended the session at 62.84, a gain of 4.96% for the session. Keep an eye on BMY for further developments.
Shares of Mattel (MAT) dropped sharply in trading on Wednesday after it was reported that Toys “R” Us is seeking to restructure its $400M in debt by potentially filing for bankruptcy. This comes as little surprise to those following the children’s toy marketplace, as sales of LEGO and even Star Wars toys have slowed down substantially over time as interactive toys that can be linked to cellular devices have gained in popularity. MAT earnings have been slumping for years, so expect to see more downward pressure on the stock as we go forward. MAT closed down -3.21% to settle at 15.69 for the session.
Shares of Qualcomm (QCOM) slumped sharply in trading on Tuesday after a South Korean court denied the company’s request to stay a regulatory order. The order came from the Korean Fair Trade Commission and it had ordered QCOM to engage in “good-faith negotiations” with respect to the company’s practices in licensing its cellular patents. QCOM shares settled down -3.88% to close at 50.03. Keep an eye on the stock for a potential rebound.
VXX, the Barclay’s Volatility ETF, is poised to open sharply higher on Tuesday due to escalation of tensions with North Korea. The regime has boasted of successfully detonating a fusion bomb, which if true would mean that the country is much farther ahead in their nuclear program than previously expected. The VXX tracks the VIX index, which is poised to open about 12% higher. Keep an eye on VXX options as this situation develops.
Shares of Sarepta Therapeutics (SRPT) rose sharply in trading on Thursday on speculation that the company is a takeover target. After Kite Pharma was recently purchased by Gilead, speculation that other companies might be next in line has been elevated. However, no confirmation of this rumor has yet been established. SRPT shares finished the session up 2.60% to settle at 40.29. Keep an eye on the stock for further developments.
Shares of Gilead Pharmaceuticals (GILD) rose sharply in trading on Wednesday after it was reported that the company’s CAR-T therapy for leukemia received FDA approval. The drug is part of Gilead’s recent acquisition of Kite Pharma, which was developing the CAR-T therapy before acquisition. This should put upward pressure on GILD going forward, but some downside is also possible. GILD shares closed up 7.25% to settle at 81.23.