Shares of FireEye (FEYE) were volatile in trading on Friday after new rumors were circulated that the firm is a target for a potential takeover bid. No conclusive details have yet emerged on this rumor, but it is notable that the company has been the subject of takeover rumors quite often over the last two years, but so far no clear bidder has emerged. FEYE shares closed up +0.42% to settle at 16.70 for the session, but spiked over 17.00 during the session. Keep an eye on FEYE for more news.
Shares of Aetna (AET) rose sharply in trading on Thursday after it was reported the CVS Health offered to buy the company for over $200 per share. Aetna shares promptly moved up on the news and were twice halted as traders bid shares higher. The news apparently caught most of the market off guard as there was no noticeable increase in options premium or stock trading volume prior to the move. Some analysts speculate that the move by CVS was a strategic response to the incursion of Amazon into the drug distribution business, particularly because Amazon has been recruiting health insurance experts to create a pharmacy benefits manager for Amazon staff. AET shares settled at 178.60, up +11.54%. So far, AET has not accepted the offer from CVS, so stay tuned.
Shares of Nike (NKE) rose sharply in trading on Wednesday after comments about 5 year guidance were released during the company’s investor day. The company stated that it would try to use retail disruption for its own gain, and that it will focus efforts on only 40 retail partners. The comments were well received by the markets. NKE shares closed up +2.85% to settle at 54.94 during an otherwise bearish day for the broader markets.
Shares of MiMedx Group (MDXG) sank in trading on Tuesday after short selling research company Citron alleged that the stock is only worth $3 per share, which is a fraction of its current price. Citron accused MDXG of potentially using undisclosed distributors to sell its products in order to circumvent certain legal restrictions. MDXG shares closed down -8.28% to settle at 11.30. Keep an eye on the stock as this story is still developing.
Shares of Lumentum Holdings (LITE) rose sharply in trading on Monday over a strongly positive outcome projected by the company for Q4 2017. The company had reported revenue towards the lower end of its guidance for Q3, but also stated it expects Q4 revenue growth of 76% sequentially. This forecast sent the stock up +6.34% to settle at 59.50 for the session. Look for further potential upside going forward.
Shares of NCR Corporation (NCR) stumbled in trading on Friday after reporting Q3 2017 results. The company reduced full-year guidance, noting that quarterly revenue fell 1% year over year. Going forward, NCR reduced guidance to an expected full-year adjusted EPS of $3.10 to $3.20 instead of the previous expectation of $3.32 to $3.42.
Shares of Celgene (CELG) dropped sharply in trading after hours on Thursday after announcing that they will not initiate a phase 3 trial for a Crohn’s disease drug. The company stated in a press release that they will not pursue a the trial because they had evaluated the dataset from the phase 2 trial and determined that it was not likely that the drug would achieve the desired phase 3 endpoints. CELG shares closed down 6.37% in after hours trading to settle at 127.30.
Shares of Plantronics Inc. (PLT) rose sharply in trading on Wednesday after a Federal District Court ruled in favor of the company in a lawsuit brought by GN Audio. The lawsuit alleged PLT had monopolized the distributors market in the United States. PLT shares finished at 46.43, up +3.89%.
Shares of Juno Therapeutics (JUNO) were volatile in trading on Tuesday after rumors circulated of potential takeover interest. This has been a recurring theme recently and it remains probable that the company will become a takeover target in the near future. However, no details have yet emerged. JUNO shares closed up 0.37% to settle at 43.04 for the session. Keep an eye on the stock for further rumors.
Shares of Allergan (AGN) sank in trading on Monday after a judge invalidated some of the company’s patents. The patents in question were related to AGN’s dry-eye medicine Restasis, meaning that AGN may potentially face competitors. AGN shares initially dropped as much as -5% on the news, but recovered some of its losses thereafter to close at 198.41, down -3.46%.