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Isle of Capri Casinos, Inc. (Nasdaq: ISLE) 31.7% HIGHER; Eldorado Resorts, Inc. (Nasdaq: ERI) and Isle of Capri Casinos, Inc. (Nasdaq: ISLE) announced that they have entered into a definitive merger agreement whereby Eldorado will acquire all of the outstanding shares of Isle of Capri for $23.00 in cash or 1.638 shares of Eldorado common stock, at the election of each Isle of Capri shareholder, reflecting total consideration of approximately $1.7 billion, inclusive of $929 million of long-term debt of Isle of Capri and its subsidiaries.
Vical Incorporated (Nasdaq: VICL) 20% LOWER; Vical and Astellas Pharma Inc. announced topline results from a randomized, double-blind, placebo-controlled Phase 2 study evaluating the safety and efficacy of cytomegalovirus (CMV) vaccine, ASP0113, versus placebo in kidney transplant patients receiving an organ from a CMV-seropositive donor. Results from the study demonstrated that the trial did not meet its primary endpoint, which was the proportion of patients having CMV viremia defined as a plasma viral load of 1000 IU/mL by central laboratory assay through one year after first injection of study drug. Additionally, the secondary endpoints of CMV-associated disease and CMV-specific antiviral therapy, which were evaluated by an independent, blinded Adjudication Committee, were similar in both treatment groups.
Infoblox Inc. (NYSE: BLOX) 15% HIGHER; entered into a definitive agreement to be acquired by Vista Equity Partners (Vista), a leading private equity firm focused on software, data and technology-enabled businesses. Under the terms of the agreement, Infoblox stockholders will receive $26.50 per share of common stock in cash, which represents a 33% premium to Infobloxs average closing share price over the last 60 trading days, and a 73% premium to Infobloxs unaffected closing price as of May 11, 2016, when media reports of interest in acquiring Infoblox were first published. The transaction values Infoblox at approximately $1.6 billion.
Tech Data Corporation (Nasdaq: TECD) 11% HIGHER; Avnet, Inc. (NYSE: AVT) announced that it has entered into an agreement to sell its Technology Solutions operating group to Tech Data Corporation (Nasdaq: TECD) in a stock and cash transaction valued at approximately $2.6 billion. Under the terms of the agreement, Avnet will receive $2.4 billion in cash and 2.8 million shares of Tech Data common stock, currently valued at approximately $200 million.
MGT Capital Investments, Inc. (NYSE: MGT) 10% LOWER; announced that on September 15, 2016, it received a subpoena from the Securities and Exchange Commission requesting certain information from the Company. MGT has no indication or reason to believe that the Company is or will be the subject of any enforcement proceedings. The Company is fully cooperating to comply with the SEC's request.
Avnet, Inc. (NYSE: AVT) 9.4% HIGHER; entered into an agreement to sell its Technology Solutions operating group to Tech Data Corporation (Nasdaq: TECD) in a stock and cash transaction valued at approximately $2.6 billion. Under the terms of the agreement, Avnet will receive $2.4 billion in cash and 2.8 million shares of Tech Data common stock, currently valued at approximately $200 million.
Novavax (NASDAQ: NVAX) 8.4% HIGHER; bounces after falling 85% Friday.
Geron Corp (Nasdaq: GERN) 8% HIGHER; On September 15, 2016 (the Execution Date), Geron Corporation (Geron or the Company) and Janssen Pharmaceuticals, Inc. (Janssen Pharmaceuticals), entered into a license agreement (the License Agreement) granting Janssen Pharmaceuticals exclusive worldwide rights (the Exclusive License) under Gerons proprietary patents and related know-how for the development and commercialization of products based on specialized oligonucleotide backbone chemistry, as well as novel amidates for ribonucleic acid interference, or RNAi, for the prevention, treatment and/or diagnosis of any and all human disorders, excluding cancers originating from the blood or bone marrow, and products whose predominant or primary mechanism of action is telomerase inhibition.
Community Health Systems (NYSE: CYH) 5% LOWER; announced that the Company, with the assistance of advisors, is exploring a variety of options with financial sponsors, as well as other potential alternatives.
AK Steel (NYSE: AKS) 4.4% HIGHER; KeyBanc upgraded from Underweight to Sector Weight.
GoPro (NASDAQ: GPRO) 4% HIGHER; shares gained ahead of a product launch later today. The company is expected to unveil its Karma drone and may also introduce its new HERO camera.
MeetMe (NASDAQ: MEET) 3.8% HIGHER; Jim Cramer positive
General Motors (NYSE: GM) 2.5% HIGHER; Morgan Stanley upgraded from Equalweight to Overweight with a price target of $37.00 (from
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