In Monday trading, XL Group (XL, Financial) traded higher after French insurer AXA will buy the company in a deal value at $15.3 billion. The agreement will make it a leader in the property and casualty market. Under the agreement, shareholders will receive $57.60 per share, a premium of 33% to last closing price.
Shares of Boston Scientific Corp. (BSX, Financial) advanced on news it acquired privately held EMcision Limited.
"By partnering with Boston Scientific, we will continue delivering on our mission of improving the quality of life of cancer patients on a much larger scale. Boston Scientific has the resources and the know-how to further improve our technology, expand clinical indications and make it available to many more patients," said Cherif Habib, EMcision'sCEO.
For the moment, the transaction will be insignificant to Boston's 2018 GAAP and non-GAAP earnings.
Shares of Groupon, Inc. (GRPN, Financial) traded high on Monday after analysts at Morgan Stanley upgraded the stock to equal-weight from underweight. Also, they raised their price target to $4.40 from $4.30.
Shares of ACM Research, Inc. (ACMR, Financial) gained ground on the heels of the company reporting its financial results for the fourth quarter. The company posted an adjusted net income of $3.32 million. The company’s revenue of $17.19 billion was also higher than the figure reported a year earlier, 19.9% year-over-year. Further, the company managed to beat revenue estimates by $5.76million.
Looking ahead, the company expects for fiscal year 2018 revenue to be approximately $65 million.
(Disclosure: The author holds no position in any stocks mentioned).
