Market Movers, June. 24th

Insight will acquire PCM for $35 per share, representing a 36% premium to its 1-month average closing share price as of Friday, June 21, 2019. The transaction implies an enterprise value of approximately $581 million (including cash and debt acquired)”.  Read more

8:08 AM, Dow up 66.00 points.

8:23 AM, Nrc Group Holdings up 27% on merger news. JFL and its affiliates are the beneficial owners of approximately 66.0% of the currently outstanding NRCG Common Stock…Read more

Eldorado will acquire all of the outstanding shares of Caesars for a total value of $12.75 per share, creating the largest owner and operator of gaming assets in the United States, Read more

A lot of mergers today.  IPO’s going crazy, market very bullish

On June 21, 2019, AMAG Pharmaceuticals, Inc. issued a press release announcing the approval of VyleesiTM (bremelanotide injection) granted by the U.S. Food and Drug Administration, up 8.5% as of 8:35 AM on 784,838 shares traded.  

Minerva Neurosciences Announces Achievement of Primary and Key Secondary Objectives in Phase 2b Clinical Trial of Seltorexant (MIN-202) in Insomnia.  Up 39% as of 8:35 AM, on 527,194 shares traded.  Read more

L Catterton to acquire Del Frisco’s for $8.00 per share.  We did a report on them last week showing Armistice, an up and coming hedge fund, aggressively adding to their position.  Check it out here

UBS says we are headed for a recession if this weeks trade talks fail, CNBC reports

Dow up 48.34 points at the open, 9:33 AM.

OBLN up 13%.  The pumpers are strong today on yahoo

“VivoPower International PLC Announces US Solar Portfolio Sale Update and Major Contract Wins in Australian Solar and Data Centers Resulting in Record Forward Order Book”.  Up 57% on 2,449,241 shares traded at 11:11 AM.  Read more 

VVPR  4 411 000 shares traded, 11:44 AM

Bitcoin approaching $11 000.  Looks poised for an historic take off.

Gold stocks still hot

Ademi & O’Reilly, LLP is investigating DFRG  in connection with the sale of Del Frisco’s to L Catterton.  We thought that price looked a little low.  $8.00 is not that great.  Shareholders are clearly pissed off right now.  Read more

“Dallas Fed President Robert Kaplan said the central bank should “take additional time” before adjusting monetary policy”. CNBC reports

Stay tuned for updates

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