What Stocks are In Play Today? M&A News Dominates

Overnight the U.S. stock markets closed higher on merger news. Tetraphase Pharmaceuticals (TTPH: Nasdaq) soared nearly 11 percent after news came out that it was exploring a sale. In other merger and acquisition (M&A) news, Platinum Underwriters Holders (PTP: NYSE)was up nearly 22 percent after announcing RenaissanceRe Holdings (RNR: NYSE) would purchase the company.

The DJIA was up 7.84 points on the day to close at 17,817.90. The S&P 500 closed within two points of a new intraday record at 2,069.41. The Nasdaq Composite also closed higher on the day.

There are several companies trades should watch today as they will be in play.

First up is Amgen (AMGN: Nasdaq) saw heavy volume during the aftermarket trading hours. The stock fell after news came out it was halting its late stage trials for a gastric cancer treatment. It would seem that patients would more than likely die if they used the drug.

Brocade Communications (BRCD: Nadaq) a networking company also was lower in aftermarket trading. The company reported poor fourth quarter results overnight.

Loral Space & Communications (LORL: Nasdaq) this is a company that owns a large portion of Telsat Holdings. Telsat is a Canadian satellite company. Their stock, Loral, soared higher in aftermarket trading after news came out that two companies, Ontario Teachers’ Pension Plan and the Public Sector Pension Investment Board were close to purchasing their Telsat holdings for $7 billon.

Nuance Communications (NUAN: Nasdaq) was also higher in aftermarket trading after the voice an language technology company came out with better than expected fourth quarter results.

Another company of interest today is Palo Alto Networks (PANW: NYSE). This a leading maker of network security equipment and their stock fell in aftermarket trading after worse than expecting fiscal earnings. Finally, Workday (WDAY: NYSE) was lower in aftermarket trading after announcing losses were widened in the third quarter.

These companies are in play today based on corporate news and M&A activity.

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