Morning Movers 10/24: (ADLR) (HS) (MOBI) (RNOW) Higher; (SXCI) (NBG) Lower
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Adolor Corporation (NASDAQ: ADLR) 129% HIGHER; agreed to be acquired by Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) for $4.25 per share in cash, or approximately $190 million on a fully-diluted basis.
Healthspring (NYSE: HS) 33.3% HIGHER; CIGNA (NYSE: CI) to buy the company for $3.8B.
SXC Health Solutions, Corp. (Nasdaq: SXCI) 23.8% LOWER; stock is being pummeled this morning on news CIGNA Corporation is buying HealthSpring Inc.
Sky-mobi Limited (Nasdaq: MOBI) 22.5% HIGHER; has entered into a strategic agreement with SINA Corporation (Nasdaq: SINA). Under the terms of the agreement, SINA's microblog Weibo.com will be made available as a downloadable application via the Maopao application store and via technical plug-ins to Sky-Mobi's Maopao mobile social network.
Rightnow (Nasdaq: RNOW) 19.1% HIGHER; Oracle (Nasdaq: ORCL) buys RightNow for $43/share.
Exelixis, Inc. (NASDAQ: EXEL) 18.1% HIGHER; today reported top-line results from the ongoing phase 3 clinical trial of cabozantinib in patients with advanced medullary thyroid cancer (MTC), known as the EXAM trial. The trial met its primary endpoint of improving progression-free survival (PFS) compared with placebo and substantially exceeded the threshold of a 75% increase in PFS originally assumed when the trial was designed. Cabozantinib significantly improved median PFS by 7.2 months compared with placebo.
SemGroup (NYSE: SEMG) 16.4% HIGHER; Plains All American (NYSE: PAA) has offered to acquire all the outstanding shares of SemGroup for $24 per share in cash.
Schweitzer-Mauduit (NYSE: SWM) 13.6% HIGHER; the company entered into a license agreement with DelfortGroup related to cigarette paper. The pact settles litigation between the two. Schweitzer-Mauduit says the pact provides for minimum royalty payments of $4 million per year for five years.
National Bank of Greece (NYSE: NBG) 13.2% LOWER; following modest upside last week, traders are reacting to fears further writedowns may be coming.
USEC (NYSE: USU) 11.8% HIGHER; late Friday said it and the DoE are in advanced but ongoing talks on American Centrifuge. Mizuho upgraded the stock to Neutral this morning.
Fusion-IO (NYSE: FIO) 11.5% HIGHER; traders diving into the stock Monday as a Barron's piece called Fusion its top tech pick for 2012.
Silvercorp Metals Inc. (NYSE: SVM) 11.5% HIGHER; has received the report of KPMG Forensic Inc., commissioned by its Special Committee to review the allegations issued by two anonymous sources in September respecting the Company's financial position.
WebMD Health Corp. (NASDAQ: WBMD) 10.3% HIGHER; hedge fund Carl Icahn disclosed a 7.94%, or 4,545,017 share, stake in the company. The firm did not hold shares at the end of the latest quarter ending June 30, 2011.
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Healthspring (NYSE: HS) 33.3% HIGHER; CIGNA (NYSE: CI) to buy the company for $3.8B.
SXC Health Solutions, Corp. (Nasdaq: SXCI) 23.8% LOWER; stock is being pummeled this morning on news CIGNA Corporation is buying HealthSpring Inc.
Sky-mobi Limited (Nasdaq: MOBI) 22.5% HIGHER; has entered into a strategic agreement with SINA Corporation (Nasdaq: SINA). Under the terms of the agreement, SINA's microblog Weibo.com will be made available as a downloadable application via the Maopao application store and via technical plug-ins to Sky-Mobi's Maopao mobile social network.
Rightnow (Nasdaq: RNOW) 19.1% HIGHER; Oracle (Nasdaq: ORCL) buys RightNow for $43/share.
Exelixis, Inc. (NASDAQ: EXEL) 18.1% HIGHER; today reported top-line results from the ongoing phase 3 clinical trial of cabozantinib in patients with advanced medullary thyroid cancer (MTC), known as the EXAM trial. The trial met its primary endpoint of improving progression-free survival (PFS) compared with placebo and substantially exceeded the threshold of a 75% increase in PFS originally assumed when the trial was designed. Cabozantinib significantly improved median PFS by 7.2 months compared with placebo.
SemGroup (NYSE: SEMG) 16.4% HIGHER; Plains All American (NYSE: PAA) has offered to acquire all the outstanding shares of SemGroup for $24 per share in cash.
Schweitzer-Mauduit (NYSE: SWM) 13.6% HIGHER; the company entered into a license agreement with DelfortGroup related to cigarette paper. The pact settles litigation between the two. Schweitzer-Mauduit says the pact provides for minimum royalty payments of $4 million per year for five years.
National Bank of Greece (NYSE: NBG) 13.2% LOWER; following modest upside last week, traders are reacting to fears further writedowns may be coming.
USEC (NYSE: USU) 11.8% HIGHER; late Friday said it and the DoE are in advanced but ongoing talks on American Centrifuge. Mizuho upgraded the stock to Neutral this morning.
Fusion-IO (NYSE: FIO) 11.5% HIGHER; traders diving into the stock Monday as a Barron's piece called Fusion its top tech pick for 2012.
Silvercorp Metals Inc. (NYSE: SVM) 11.5% HIGHER; has received the report of KPMG Forensic Inc., commissioned by its Special Committee to review the allegations issued by two anonymous sources in September respecting the Company's financial position.
WebMD Health Corp. (NASDAQ: WBMD) 10.3% HIGHER; hedge fund Carl Icahn disclosed a 7.94%, or 4,545,017 share, stake in the company. The firm did not hold shares at the end of the latest quarter ending June 30, 2011.
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