Pre-Open Stock Movers 04/12: (PBTS) (NUAN) (ZNTL) Higher; (IRTC) (TLRY) (MAXN) Lower (more...)

April 12, 2021 9:32 AM EDT
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Price: $1.39 -0.71%

Overall Analyst Rating:
    BUY (= Flat)

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Pre-Open Stock Movers

Powerbridge Technologies Co., Ltd. (NASDAQ: PBTS) 42.9% HIGHER; PBTS and Huawei Technologies Co. Ltd. ("Huawei"), a leading global provider of information and communications technology (ICT) infrastructure and smart devices, have entered into Strategic Cooperation Agreement to jointly promote and market their services to local ports and customs in China.

iRhythm Technologies (NASDAQ: IRTC) 35.2% LOWER; is under heavy pressure early Monday (-25%) after Novitas posted revised extended ECG rates.

Nuance Communications, Inc. (Nasdaq: NUAN) 19.3% HIGHER; Microsoft Corp (Nasdaq: MSFT) and Nuance Communications, Inc. (Nasdaq: NUAN) today announced they have entered into a definitive agreement under which Microsoft will acquire Nuance for $56.00 per share, implying a 23% premium to the closing price of Nuance on Friday, April 9, in an all-cash transaction valued at $19.7 billion, inclusive of Nuance's net debt. Nuance is a trusted cloud and AI software leader representing decades of accumulated healthcare and enterprise AI experience. Mark Benjamin will remain CEO of Nuance, reporting to Scott Guthrie, executive vice president of Cloud & AI at Microsoft. The transaction is intended to close this calendar year.

Zentalis Pharmaceuticals, Inc. (Nasdaq: ZNTL) 16.2% HIGHER; announced a clinical collaboration agreement with GlaxoSmithKline (GSK) in which Zentalis will evaluate the combination of ZN-c3, Zentalis oral WEE1 inhibitor product candidate, and ZEJULA (niraparib), GSKs poly (ADP-ribose) polymerase (PARP) inhibitor, in patients with advanced epithelial ovarian cancer. Zentalis is currently conducting clinical studies with ZN-c3 both as a monotherapy and in combination with certain standard of care therapies.

Luminex Corporation (NASDAQ: LMNX) 11.2% HIGHER; DiaSorin S.p.A. (DiaSorin; FTSE MIB: DIA) today announced that its Board of Directors has unanimously approved and signed a definitive merger agreement for DiaSorin to acquire Luminex Corporation (Luminex; NASDAQ: LMNX) for a price of USD 37.00 per share in an all-cash transaction. This corresponds to a total equity value of approximately USD 1.8 billion on a fully diluted basis and an enterprise value of approximately USD 1.8 billion.

Evelo Biosciences Inc (NASDAQ: EVLO) 10% HIGHER; Jefferies upgraded from Neutral to Buy with a price target of $18.00 (from $11.00).

Tilray (NASDAQ: TLRY) 9.5% LOWER; Declines Pre-Open After Merger Partner Aphria (NASDAQ: APHA) Reports Results

Cadence Bancorporation (NYSE: CADE) 7.5% HIGHER; BancorpSouth Bank (NYSE: BXS) and Cadence Bancorporation (NYSE: CADE) announced today that they have entered into a merger agreement under which the companies will combine in an all-stock merger with a total market value of more than $6 billion to create a leading Texas and Southeastern regional bank.

Alibaba (NYSE: BABA) 6.5% HIGHER; Shares of the Chinese e-commerce titan Alibaba (NYSE: BABA) closed today's trading session in Hong Kong over 6.5% higher after the regulators issued a record fine of 18.23 billion yuan ($2.8 billion) for breaching anti-monopoly rules and regulations.

Riot Blockchain, Inc. (NASDAQ: RIOT) 5.6% HIGHER; In March 2021, Riot produced 187 BTC, an increase of 80% over its pre-halving March 2020 production of 104 BTC.

Maxeon Solar Technologies Ltd. (NASDAQ: MAXN) 4.5% LOWER; Roth Capital downgraded from Buy to Neutral with a price target of $23.00 (from $43.00).

JinkoSolar Holding Co., Ltd. (NYSE: JKS) 4% LOWER; Roth downgraded from Buy to Neutral with a price target of $38.00 (from $59.00).



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