Stocks overall were fractionally higher early on Monday, August 29, 2016. That makes the big percentages gainers and losers and the companies with big headline news stand out even more than they might otherwise.
24/7 Wall St. has identified a handful of stocks moving and in the headlines on Monday. News summaries have been included, as have the moves and relative trading color.
Caesars Entertainment Corp. (NASDAQ: CZR) saw its shares gutted on Monday morning on news from Friday that a federal judge ruled that Caesars will have to face its bond holders in the multi-billion-dollar suit ahead. Caesars was originally indicated down a sharp 30% at $5.25 in early premarket trading on Monday, but shares were down “only” 19% at $6.33 shortly after the opening bell.
Herbalife Ltd. (NYSE: HLF) lost 2.3% on Friday after word that Carl Icahn’s stake was pitched (and not taken) to Bill Ackman, but then news broke that Icahn was actually increasing his stake as a reversal to the selling news. Herbalife shares were last seen up almost 4% at $62.80.
Macrocure Ltd. (NASDAQ: MCUR) was last seen up more than 87% at $2.27 on news that Leap Therapeutics is acquiring the company, with Leap becoming the public company and with Macrocure owning almost 32% of the combined company after the transaction. Macrocure’s 52-week trading range is $0.75 to $4.26.
Mylan N.V. (NASDAQ: MYL) decided that being in the news for drug price hikes on EpiPen during an election year was a true bonehead move. Now Mylan has said it will launch its own generic version of EpiPen for $300 rather than just having the post-hike price at $600. Mylan shares were indicated up 1.5% at $43.66 in Monday’s early trading.
Adamis Pharmaceuticals Corp. (NASDAQ: ADMP) was down about 11%at $3.09 after about half an hour of trading, apparently in reaction to Mylan’s own generic EpiPen. Adamis was one of last week’s winners (rising to $3.47 from $2.75) as the company’s rival to EpiPen was believed to be nearing an FDA approval.
Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) is not a huge mover with a 1.5% gain to $408.99 in early trading, but the news is huge for families with patients who suffer from high cholesterol in their families who do not respond to typical statin and dietary changes. Regeneron’s 52-week range is $329.09 to $592.59, and its consensus analyst target is $466.64.
Symantec Corp. (NASDAQ: SYMC) was up 1.4% at $24.04 in early trading on Monday. The security software giant was shown as having another 25% upside ahead over the weekend in the Barron’s publication. Symantec’s 52-week range is $16.14 to $23.99, and its consensus price target is $23.98.
Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) may not be that well known with a market cap of under $100 million, but its shares were surging higher after announcing news that it had a successful end of Phase 2 meeting with the FDA for its TNX-102 SL in post-traumatic stress disorder. Tonix shares were indicated up 5% at $2.56 on nearly double the usual number of shares traded. Its 52-week range is $1.84 to $7.96.