Stocks to Watch: WOOF, MWIV, MJN & More
Take a look at some of Monday's midday movers:
A dog day afternoon for animal health care companies VCAAntech and MWI Veterinary after William Bair was bearish on their upcoming earnings results, noting a warm winter and early start to the flea and tick season that drew sales forward from the latest quarter.
Mead Johnson Nutrition fell after RBC Capital Markets downgraded the stock amid worries over a slowdown in China.
Gilead Sciences moved higher after the FDA approved its Truvada drug to help prevent HIV infection.
Facebook fell below $30 a share for the first time since mid-June on very heavy volume. Evercore’s Ken Sena told CNBC he thinks weakness in Zynga and Groupon has finally spread to Facebook.
Sotheby’s also lost ground after Stephens cut its rating on the auctioneer and lowered its price target. The firm said shares are likely to be “dead money” due to slowdowns in China and Europe.
Par Pharmaceuticals soared after private investment firm TPG agreed to acquire it for $1.8 billion, or $50 a share in cash. The stock is trading above the purchase price as the deal allows Par to look for another offer through August 24th. Other small-cap drug stocks Impax Labs and Hit-Tech Pharmacal also moved higher following the news.
Gannett jumped after it beat analysts forecast with a 56 cent second-quarter gain. But it warned ad sales remain weak.
Human Genome Sciences rose after it finally agreed to be boughtby Britain’s GlaxoSmithKline for $14.25 a share, or about $3.6 billion. Human Genome balked at Glaxo’s original $13 a share hostile bid.
MBIA moved higher upon receiving approval from the New York State Department of Financial Services to make its scheduled interest payment. The delay in the approval had sent the stock lower.
InterOil gained ground after Raymond James lifted its price target to $100 from $70 while maintaining an "outperform" rating.
Aercap tumbled after the aircraft leaser said no sales talks were underway. The stock had gained 14 percent over the past 3 sessions on rumors it was seeking a buyer.
Texas Instruments slid after FBR Capital Markets cut its ratings to "underperform" and lowered its price target. The firm said it was at a higher risk for a stock drop than other chip makers.
Woodward moved lower after it warned about its third-quarter earnings. The company also cut its forecast for the year on weakness in its aerospace business.
Hospira fell after the company said its recalled four of its injectable cancer drugs because of a glass defect.
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