Pre-Open Stock Movers 04/05: (PLUG) (INNL) (PNRA) Higher; (UNIS) (OHRP) (QTNT) Lower (more...)
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Today's Pre-Open Stock Moves:
Plug Power Inc. (NASDAQ: PLUG) 76.7% HIGHER; announced that it has reached an agreement with Amazon (NASDAQ: AMZN) to utilize Plug Power fuel cells and hydrogen technology in its fulfillment network. At select fulfillment center locations, Amazon will begin powering its industrial equipment such as forklifts using the GenKey technology which will enable faster charging times, reduced costs, and support energy-efficiency in Amazons fulfillment operations. Revenues associated with the commercial agreements are expected to be around $70 million in 2017.
Unilife Corp. (NASDAQ: UNIS) 62% LOWER; received notice from a key customer for wearable injectors that such customer is putting a program with the Company on hold for reasons unrelated to the Company’s products. Given the relative importance of such program, such delay may negatively impact the Company’s ability to obtain financing or the amount of financing the Company may be able to obtain. The Company issued a Worker Adjustment and Retraining Notification (“WARN”) Act notice (the “Notice”) to all employees of the Company and state and local government agencies, that if the Company is not successful in obtaining financing, the Company will be forced to permanently close both its York, Pennsylvania and King of Prussia, Pennsylvania facilities.
Innocoll Holdings plc (NASDAQ: INNL) 33% HIGHER; reached an agreement on the terms of a recommended offer. Under the recommended offer, Gurnet Point will acquire Innocoll for $1.75 per share in cash, and up to $4.90 in cash from a contingent value right (CVR), for a total potential per share value of up to $6.65 or up to approximately $209 million in aggregate. The initial cash consideration of $1.75 represents a premium of approximately 120 percent to the closing price per Innocoll Share on March 10, 2017, the last dealing day prior to the date on which the anomalous movement in Innocolls shares commenced (and a premium of approximately 28 percent to the closing price per Innocoll Share on March 15, 2017, the day prior to Innocoll initiating the commencement of the offer period).
Vical Incorporated (NASDAQ: VICL) 17.4% HIGHER; entered into a research collaboration agreement with AnGes MG, Inc. (“AnGes”). Pursuant to the collaboration agreement, AnGes agreed to provide funding for the program up to a specified limit and we agreed to conduct certain preclinical research related to a development program targeting chronic hepatitis B. In exchange for the payment, AnGes will receive an option to negotiate exclusive rights in Japan related to the program. The parties also agreed to share the costs of prosecuting and maintaining intellectual property rights arising from the research program after such costs reach a specified limit.
Ohr Pharmaceutical, Inc. (NASDAQ: OHRP) 15.6% LOWER; announced that it has priced a registered public offering at a price to the public of $0.70 per share of common stock and accompanying warrant to purchase 0.7 of a share of common stock at an exercise price of $1.00.
Panera Bread (NASDAQ: PNRA) 12.5% HIGHER; Panera Bread Company (NASDAQ: PNRA) and JAB today announced that the companies have entered into a definitive merger agreement under which JAB will acquire Panera for $315 per share in cash, in a transaction valued at approximately $7.5 billion, including the assumption of approximately $340 million of net debt. The agreement, which has been unanimously approved by Panera's Board of Directors, represents a premium of approximately 30% to the 30-day volume-weighted average stock price as of March 31, 2017, the last trading day prior to news reports speculating about a potential transaction, and a premium of approximately 20% to Panera's all-time high closing stock price as of that same date.
Quotient Limited (NASDAQ: QTNT) 8.7% LOWER; announced the pricing of an underwritten public offering of 7,000,000 of its ordinary shares at a price to the public of $6.00 per share.
Ballard Power (NASDAQ: BLDP) 7.7% HIGHER; sympathy with Power Plug after it announced an agreement with Amazon
Taser (NASDAQ: TASR) 6.7% HIGHER; teases about 'big announcement' later today
Nabors (NYSE: NBR) 5.4% HIGHER; Instinet upgraded from Neutral to Buy with a price target of $17.00 (from $15.00).
Landec (NASDAQ: LNDC) 5% HIGHER; reported Q3 EPS of $0.13, $0.01 better than the analyst estimate of $0.12. Revenue for the quarter came in at $136.6 million versus the consensus estimate of $135.86 million.
Sarepta Therapeutics (NASDAQ: SRPT) 3.9% HIGHER; SunTrust Robinson Humphrey upgraded from Hold to Buy with a price target of $45.00.
Adecoagro SA (NASDAQ: AGRO) 3% LOWER; block of 9 million shares said to be orded
Tenet Healthcare (NYSE: THC) 0.6% HIGHER; Deutsche Bank initiates coverage with a Buy rating and a price target of $28.00.
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