Market Insider

Midday movers: Allergan, Valeant, GlaxoSmithKline & more


Take a look at some of Monday's midday movers:

Allergan moved higher after the company responded to Valeant's and Pershing Square's attempt to remove its board members by urging its shareholders to take no action at this time.

Pharmacyclics gained ground on news its approved leukemia drug was shown to help patients live longer than GlaxoSmithKline's treatment.

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Clovis moved lower after the company's lung cancer drug was linked to high blood sugar.

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Ariad Pharmaceuticals climbed after the biotech company reported positive results from a study of its leukemia drug in patients with another form of cancer.

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Conn's rose after the furniture retailer said its first-quarter earnings and sales topped expectations.

NPS Pharma advanced for the second-straight session amid takeover talk by Shire. There were reports Monday that Shire has lined up $5 billion in funding.

U.S. Steel fell after the company said it would close two tubular plants in the U.S. due to unfair trading practices in tubular steel being imported into the country.

Coal stocks Arch Coal, Alpha Natural Resources, Peabody and Walter Energy declined after the EPA mandated power plants cut their emission by 30 percent. Walter Energy came off its lows when the company said it doesn't see a material impact from the rule.

Aspen Insurance slid after the insurer rejected Endurance Specialty Holdings' increased offer. This is the second time Aspen has rejected Endurance's offer.

Protective Life rose on reports Japan's Dai-Ichi is in advanced talks to buy the company in a deal that could be worth over $5 billion.

Mastec fell after the infrastructure construction company said it expects second-quarter results to be negatively impacted by new and unexpected delays in its wireless project spending activity, as well as weaker-than-expected oil and gas segment results.

Intercontinental Hotels lost ground after CNBC reported Starwood is not interested in the company.

Express and Aeropostale moved lower after Nomura cut its price target on the apparel retailers.

Omeros rose after FDA approved its drug for use in cataract and lens replacement surgeries.

—By CNBC's Rich Fisherman.