Unusual 11 Mid-Day Movers 9/12: (AFCO) (RPTP) (CSTE) Higher; (GERN) (SGMA) (NETE) Lower

September 12, 2016 12:52 PM EDT
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American Farmland Company (NYSE: AFCO) 20.2% HIGHER; Farmland Partners and American Farmland Company jointly announced that they have entered into a definitive agreement (the "Agreement") pursuant to which FPI has agreed to acquire all of the outstanding common stock of AFCO in a stock-for-stock transaction.

Raptor Pharmaceutical Corp. (Nasdaq: RPTP) 20.2% HIGHER; Horizon Pharma plc and Raptor Pharmaceutical announced the companies have entered into a definitive agreement under which Horizon Pharma will acquire all of the issued and outstanding shares of Raptor Pharmaceutical Corp. common stock for $9.00 per share in cash, for an implied fully diluted equity value of approximately $800 million. The transaction is expected to close in the fourth quarter of 2016.

Geron Corporation (Nasdaq: GERN) 17.5% LOWER; provided updates on the clinical trials being conducted by Janssen Research & Development, LLC, of the telomerase inhibitor imetelstat. Planned internal reviews of initial data from both trials have been completed by Janssen, and both trials are continuing in order to evaluate additional and more mature data.

Caesarstone (Nasdaq: CSTE) 13.7% HIGHER; higher amid reports that Tene Investment Funds agreed to acquire 1 million shares from Kibbutz Sdot Yam for $43.5 million. Tene has an option to buy 2 million more shares.

Sigmatron Int'l (Nasdaq: SGMA) 13.5% LOWER; reported Q1 EPS of $0.03, versus $0.16 reported last year. Revenue for the quarter came in at $58.9 million, versus $64.2 million reported last year.

Syntel, Inc. (Nasdaq: SYNT) 11.2% HIGHER; declared a special dividend of $15.00 per share. The dividend will be payable on October 3, 2016, to stockholders of record on September 22, 2016, with an ex-dividend date of October 4, 2016. The annual yield on the dividend is 36.9 percent.

Net Element, Inc. (Nasdaq: NETE) 10.5% LOWER; announced that its wholly-owned subsidiary PayOnline has expanded its payments module for electronic commerce and Content Management System ("CMS") to 19 of the most popular platforms including WordPress, Joomla and 1C-Bitrix.

Voyager Therapeutics, Inc. (Nasdaq: VYGR) 10.0% HIGHER; announced a research collaboration with CHDI Foundation, Inc. (CHDI) to advance Voyager’s VY-HTT01 program, an adeno-associated virus (AAV)-mediated gene-silencing therapy for Huntington’s disease.

Resonant Inc. (Nasdaq: RESN) 9.0% HIGHER; announced that Dr. Victor Plessky, Resonant’s Director of Engineering and Founder of Swiss-Based GVR Trade SA, a wholly owned subsidiary of Resonant, will present the Company’s recent breakthroughs in the development of RF filters at the IEEE International Ultrasonics Symposium in Tours, France, on September 18-21.

RetailMeNot Inc. (Nasdaq: SALE) 8.8% LOWER; Morgan Stanley downgraded RetailMeNot from Equalweight to Underweight with a price target of $8.60.

Amarin Corporation plc (Nasdaq: AMRN) 7.2% LOWER; announced that, as expected, the independent data monitoring committee (DMC) has completed its review of the first pre-specified interim efficacy analysis for the REDUCE-IT cardiovascular outcomes study and has recommended that the trial continue as planned without modification. The 8,175-patient outcomes study is evaluating whether treatment with Vascepa® (icosapent ethyl) reduces cardiovascular events in patients who despite stabilized statin therapy have elevated triglyceride levels and other cardiovascular risk factors.

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