4 Contrarian Stock Climbers in Trading Action as Centene Falls Hard
Micronetics Inc. (NASDAQ:NOIZ): Mercury Computer Systems (NASDAQ:MRCY) has agreed to acquire Micronetics, which makes radio and microwave frequency subsystems and components, for $14.80 per share. The deal is valued at approximately $75.4M. Shares of Micronetics Inc. are trading 94.93% higher today.
IntegraMed America, Incorporation. (NASDAQ:INMD): Affiliates formed by Sagard Capital Partners, both an investment fund and shareholder of IntegraMed, will acquire IntegraMed America for $14.05 per share in cash, totaling $169.5M. Shares of IntegraMed America, Incorporation. are trading 20.72% higher today.
Centene Corp (NYSE:CNC): According to Deutsche Bank, Centene’s guidance reduction on rising costs in Kentucky and Hidalgo is expected, but the size of the cut it a surprise. Following Cantene’s highlight on constant margin pressures in Kentucky, the firm believes the other market participants, Coventry (NYSE:CVH) and WellCare (NYSE:WCG), could possibly feel pressure today. Deutsche Bank maintains a Sell rating on Coventry, but Centene and WellCare both recieve Hold ratings. Amerigroup’s (NYSE:AGP) weakness creates a buy opportunity because the company has no exposure to Kentucky or Hidalgo. Shares of Centene Corp are trading 25.04% lower today.
ZaZa Energy Corp (NASDAQ:ZAZA): The company has announced a Heads of Agreement with Hess Corp. (NYSE:HES) which will effect a transaction expected to lead to the discontinuation or modification of the Parties’ 2010 agreements in Texas and France. ZaZa also amended the existing exploration and development agreements with Hess in Texas, for which ZaZa gained $15M as an immediate cash considerations, and agreed to pay down $100M senior secured notes of which $33M is due by 2017. The company also convinced Jefferies (NYSE:JEF) to head a joint venture process involving ZaZa’s Egle Ford core and Woodbine/Eaglebine assets. Shares of ZaZa Energy Corp are trading 31.09% higher today.
Ampio Pharmaceuticals, Inc. (NASDAQ:AMPE): According to recent announcements, Ampio Pharmaceuticals’ CRO finished analysis of the primary end point for the Optina clincal trial for DME, which took place at St. Michael Diabetes hospital located in Toronto, Canada. Shares of Ampio Pharmaceuticals, Inc. are trading 10% higher today.
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