CHICAGO (MarketWatch) — Shares of the following companies were making notable moves in Monday’s U.S. market session.
Shares of Dreams Inc. rallied 31% after the retailer agreed to be acquired for $3.45 a share in cash by Fanatics Inc., an online seller of licensed sports products. See full story.
Renewed worries mount for Spain
Spain's worries are rekindled as the cost of protecting against a default rose to a fresh high and a slide in Spanish bonds sends 10-year yields back above the 6% level for the first time since December. (Photo: Reuters.)
Shares of Endocyte Inc. more than doubled after Merck & Co. /zigman2/quotes/209956077/composite MRK +0.74% said it would make a $120 million upfront payment to the company, with additional payouts of up to $880 million, to develop and market an experimental cancer drug.
Shares of Vringo Inc. jumped 45% on news that investor and Dallas Mavericks owner Mark Cuban has taken a 7.4% stake in the video-ringtone company.
Stratasys Inc. /zigman2/quotes/207628786/composite SSYS +12.73% shares were up 20% after the 3D printing and direct digital manufacturing company said it forged a $1.4 billion all-stock deal with Objet Ltd. The combined company will keep the Stratasys name. Stratasys also issued a first-quarter forecast that exceeded most analyst forecasts.
Life-sciences firm Sequenom Inc. saw its shares rise 8.5% after an upbeat sales report for the first quarter.
Merit Medical Systems Inc. /zigman2/quotes/209183774/composite MMSI +3.03% shares were up 5% after Raymond James raised its rating on the stock to strong buy from outperform.
Shares of Mattel Inc. /zigman2/quotes/209819189/composite MAT +2.02% fell 9% after the toy company reported a steep drop in first-quarter profit and lower sales.
Shares of Pendrell Corp. slumped 45% after the California state appeals court overturned a 2008 ruling against Boeing Co. /zigman2/quotes/208579720/composite BA +6.45% that had awarded a Pendrell subsidiary $603 million.
Shares of Baxter International /zigman2/quotes/207334572/composite BAX +0.88% and Halozyme Therapeutics Inc. /zigman2/quotes/206136067/composite HALO +6.64% both fell after the two received a Food and Drug Administration request for more information about long-term use of HyQ, an investigational treatment for immune system disorders. Baxter fell 7% while Halo spiraled down 23%.
Gannett Co. /zigman2/quotes/202050177/composite GCI +2.27% fell 7% after the media firm said that its first-quarter profit slipped by 25%, hurt by restructuring costs and a continuing slump in advertising revenue.