Pre-market Movers for Monday September 9th, 2019.
AT&T Inc. (NYSE: T) shares advanced by 7% on Monday morning during pre-market hours after activist Elliott Management took a USD 3.2 Billion stake in the Company. The firm released a letter to AT&T’s board of directors and mentioned ways the telecom Company could improve its business, stating that the stock could be worth at least USD 60 per share.
Chipotle Mexican Grill, Inc. (NYSE: CMG) shares gained 1.4% after Wedbush raised its rating and price target on the stock. Wedbush upgraded the stock rating from neutral to outperform, saying that the fast food chain is in a leading position to establish a digital dominance. Wedbush raised its price target from USD 780 to USD 980 per share.
Nutanix, Inc. (NASDAQ: NTNX) shares rose by 6.8% after Susquehanna upgraded its stock from negative to positive. The firm raised its price target on the stock from USD 23 to USD 45 per share.
ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) shares surged by80% after the Company released positive results on its phase 3 trial of its treatment for dementia-related psychosis. The trial met its primary endpoint and noted that it reached “robust statistical superiority” over the placebo.
Changyou.com Limited (NASDAQ: CYOU) shares skyrocketed by 55% during pre-market hours after receiving an acquisition offer from Sohu.com Limited (NASDAQ: SOHU). Sohu.com offered Changyou.com a purchase price of USD 5 per Class A ordinary share or USD 10 per American Depositary Share in cash. The proposed purchase represents a premium of 69% over the closing price of Changyou’s ADS on September 6th, 2019.
Village Farms International, Inc. (NASDAQ: VFF) shares advanced by 6% on Monday after the Company announced its joint venture owned cannabis production company, Pure Sunfarms, received from Health Canada an amendment to its license permitting it to sell and distribute packaged cannabis products. The license allows the Company to sell directly to provincial and territorial wholesales and authorized private retailers, effective immediately.