Pre-Open Stock Movers 08/22: (CIFC) (ISIL) (MDVN) Higher; (STRP) (MRO) (WDAY) Lower (more...)

August 22, 2016 9:20 AM EDT

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Today's pre-open stock movers:

CIFC LLC (Nasdaq: CIFC) 58.3% HIGHER; announced that CIFC and an affiliate of F.A.B. have entered into a definitive merger agreement under which F.A.B. will acquire CIFC for approximately $333 million in cash.

Intersil Corp (NASDAQ: ISIL) 22.4% HIGHER; reports from Reuters, Japan's Renesas Electronics is nearing a deal to acquire the company for about $3 billion, citing an industry source.

Medivation, Inc. (Nasdaq: MDVN) 20% HIGHER; Pfizer Inc. (NYSE: PFE) and Medivation, Inc. (Nasdaq: MDVN) announced that they have entered into a definitive merger agreement under which Pfizer will acquire Medivation, a biopharmaceutical company focused on developing and commercializing small molecules for oncology, for $81.50 a share in cash for a total enterprise value of approximately $14 billion.

Syngenta (NYSE: SYT) 10.8% HIGHER; China National Chemical Corporation (ChemChina) and Syngenta (NYSE: SYT) today announced that the companies have received clearance on their proposed transaction from the Committee on Foreign Investment in the United States (CFIUS).

Straight Path Communications Inc. (Nasdaq: STRP) 10.1% LOWER; negative Bloomberg article.

Vince Holding (NYSE: VNCE) 6.6% HIGHER; Piper Jaffray upgraded from Neutral to Overweight with a price target of $8.00

BioMarin (NASDAQ: BMRN) 3.8% HIGHER; speculation Sanofi may turn its attention to BMRN after losing bidding war on MDVN.

Marathon Oil (NYSE: MRO) 3.3% LOWER; CFO Sult Resigns; Other Leadership Changes Announced

Workday (NYSE: WDAY) 3.3% LOWER; Needham & Company downgraded from Buy to Hold.

Valeant Pharmaceuticals (NYSE: VRX) 3% HIGHER; announced that Paul S. Herendeen has been appointed Executive Vice President, Finance and will take over the role of Chief Financial Officer from Robert L. Rosiello effective immediately.

Cardiovascular Systems (NASDAQ: CSII) 1.8% HIGHER; Leerink Partners upgraded from Market Perform to Outperform

L Brands (NYSE: LB) 1.7% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $94.00 (from $73.00).

Urban Outfitters, Inc. (NASDAQ: URBN) 1.6% LOWER; Goldman Sachs downgraded from Buy to Neutral

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