Pre-Open Stock Movers 06/21: (LDL) (RAVN) (AEI) Higher; (MSTR) (RIOT) (COIN) Lower (more...)
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Pre-Open Stock Movers:
Lydall, Inc. (NYSE: LDL) 81.6% HIGHER; Unifrax, a leading global provider of high-performance specialty materials focused on thermal management, specialty filtration, battery materials, emission control and fire protection applications backed by Clearlake Capital Group, L.P. (Clearlake), today announced it has signed definitive agreements to acquire Lydall, Inc. (NYSE: LDL, Lydall or the Company), a leader in the design and production of specialty filtration materials and advanced material solutions. With its leading technologies and 23 manufacturing facilities around the world, Lydall is well positioned to capitalize on growth in clean air filtration and electric vehicle adoption, among many other attractive markets. Under the terms of the agreement, Lydall shareholders will receive $62.10 per share in cash for each share outstanding, implying a total enterprise value of approximately $1.3 billion.
Raven Industries, Inc. (NASDAQ: RAVN) 49% HIGHER; CNH Industrial N.V. (NYSE: CNHI) today announced that it has entered into an agreement to acquire 100% of the capital stock of Raven Industries, Inc. (NASDAQ: RAVN), a US-based leader in precision agriculture technology for US$58 per share, representing a 33.6% premium to the Raven Industries 4-week volume-weighted average stock price, and US$2.1 billion Enterprise Value. The transaction will be funded with available cash on hand of CNH Industrial. Closing is expected to occur in the fourth quarter of 2021, subject to the satisfaction of customary closing conditions, including approval of Raven shareholders and receipt of regulatory approvals.
Alset EHome International Inc. (NASDAQ: AEI) 48% HIGHER; Alset EHome Inc. a US-based property developer and a subsidiary of Alset EHome International Inc. (NASDAQ: AEI), is pleased to announce a strategic agreement with Tesla Inc. (NASDAQ: TSLA) for an initial supply of Tesla PV Solar Panels, Powerwalls and EV Chargers to be installed at single-family homes. These Tesla products will be installed in 20 brand new, single-family homes at the Northpark Community in Porter, Texas. In addition to these 20 homes, Alset has 10 more homes under contract in the same community scheduled for closing at the end of this month. Moving forward, there are plans to acquire an additional 70 units in the Houston area, targeting a total of 100 Ehome deliveries in 2021.
MediciNova, Inc. (NASDAQ: MNOV) 36.7% HIGHER; announced that positive results from a Phase 2 trial of MN-166 (ibudilast) in alcohol use disorder (AUD) were published in Natures Translational Psychiatry.
Enochian BioSciences, Inc. (NASDAQ: ENOB) 12.2% HIGHER; announced that the company has acquired an exclusive license for an innovative technology to potentially treat and prevent all variants of coronavirus, including the cause of COVID-19, as well as influenza. A request for a Pre-Investigator New Drug meeting for the COVID-19 treatment will be submitted to the FDA in the near term.
Globalstar (NYSE: GSAT) 7% HIGHER; B.Riley initiates coverage with a Buy rating and a price target of $3.25.
MicroStrategy (NASDAQ: MSTR) 7% LOWER; bitcoin names lower, bought more Bitcoin at higher prices.
Riot Blockchain, Inc. (NASDAQ: RIOT) 6% LOWER; bitcoin names lower
Marathon Digital Holdings, Inc. (NASDAQ: MARA) 5.5% LOWER; bitcoin names lower
Figs Inc. (NYSE: FIGS) 5% HIGHER; positive Wall Street coverage.
Flywire (NASDAQ: FLYW) 4.7% HIGHER; positive Wall Street coverage.
AMC (NYSE: AMC) 4.5% HIGHER; meme stocks add to gains.
Coinbase Global, Inc. (NASDAQ: COIN) 2.8% LOWER; bitcoin names lower.
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