Pre-Open Stock Movers 06/21: Kellogg Gains on Plans to Split in Three, Tech Stocks Rebound (more...)

Pre-Open Stock Movers:

Convey Health Solutions Holdings, Inc. (NYSE: CNVY) 139% HIGHER; entered into a definitive merger agreement pursuant to which TPG Capital, the private equity platform of global alternative asset management firm TPG ("TPG") and Convey's principal shareholder, will acquire all of the outstanding shares of Convey common stock not currently owned by TPG or certain management and director shareholders for $10.50 per share in cash, representing an enterprise value of approximately $1.1 billion.

Valneva SE (Nasdaq: VALN) 85% HIGHER; The company and and Pfizer Inc. (NYSE: PFE) today announced that they have entered into an Equity Subscription Agreement and have updated the terms of their Collaboration and License Agreement for Lyme disease vaccine candidate VLA15. As previously announced on April 26, 2022, Pfizer plans to initiate the Phase 3 study of VLA15 in the third quarter of 2022.

Symbotic Inc. (NASDAQ: SYM) 56% HIGHER; Cowen initiates coverage with Outperform rating and a price target of $18.00.

Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) 31% LOWER; announced the outcome of the U.S. Food and Drug Administration (FDA) Psychopharmacologic Drugs Advisory Committee (PDAC) meeting for pimavanserin for the treatment of hallucinations and delusions associated with Alzheimers disease psychosis (ADP). The PDAC voted 9 to 3 that the evidence presented does not support a conclusion that pimavanserin is effective for the treatment of hallucinations and delusions in the ADP population.

Arrival (NASDAQ: ARVL) 7% HIGHER; announced that the Arrival Van has achieved EU certification and received European Whole Vehicle Type Approval (EUWVTA).

Kellogg (NYSE: K) 6% HIGHER; plans to split into three independent public companies, Global Snacking, North America Cereal, and Plant Co.

Palantir Technologies Inc. (NYSE: PLTR) 4% HIGHER; BofA Securities initiates coverage on with a Buy rating and a price target of $13.00.

DocuSign (NASDAQ: DOCU) 2% HIGHER; announced today that Dan Springer has agreed to step aside as Chief Executive Officer. Effective immediately, Chairman of the Board Mary Agnes "Maggie" Wilderotter is appointed interim CEO to help the senior executive team drive improved execution in all phases of the company's business

Apple Inc. (NASDAQ: AAPL) 2% HIGHER; tech stocks bounce after last week's brutal sell-off.

Alphabet Inc. (NASDAQ: GOOGL) 2% HIGHER; tech stocks bounce after last week's brutal sell-off.

Amazon.com, Inc. (NASDAQ: AMZN) 2% HIGHER; tech stocks bounce after last week's brutal sell-off.

International Paper (NYSE: IP) 1.3% LOWER; Citi downgraded from to Neutral with a price target of $46.00 (from $53.00).

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