Celgene (CELG) stock is flying in the stock market today after the big biotech announced late Tuesday that it’s acquiring peer Receptos (RCPT) for $232 a share in cash to enhance its inflammation and immunology portfolio. Along with the $7.2 billion deal, Celgene announced view-topping preliminary Q2 earnings. Shares gapped up 8.2% to 132.88 in huge volume Wednesday, hitting an all-time intraday high of 135.98. The stock also broke out of a cup
With strong investor demand for shares, ProNAi Therapeutics (DNAI) raised the expected price of its initial public offering, which is scheduled to price after the close Wednesday. ProNAi is among three of the eight IPOs out this week that are receiving strong investor interest. The others are discount retailer Ollie’s Bargain Outlet (OLLI) and cybersecurity firm Rapid7 (RPD). ProNAi is described as “a clinical-stage oncology company pioneering a
SunEdison (SUNE) and Advanced Microgrid Solutions announced Wednesday a 50-megawatt solar energy storage deal that will supply power to Southern California Edison. The utility-scale battery storage systems will be installed under a 10-year contract with Southern California Edison, one of the nation’s largest utilities. Advanced Microgrid Solutions will develop storage systems in commercial and industrial buildings. Southern California Edison will