4 Stocks Move to Start the Week

GuruFocus.com
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- By Omar Venerio

Shares of Verizon Communications Inc. (VZ) traded higher on news of a $2.25 billion deal with the National Football League. The deal will expand live-streaming of games for all mobile devices, regardless of network.

Shares of Celgene Corp. (CELG) and Bluebird Bio Inc. (BLUE) jumped after announcing positive results from the CRB-401 Phase 1 clinical study of bb2121, an investigational drug that is intended to treat patients with late-stage relapsed/refractory multiple myeloma. The data was presented at the American Society of Hematology"s annual meeting in Atlanta, Georgia.


Nadim Ahmed, Celgene"s president of hematology and oncology, commented on the extensive research efforts.

"Looking ahead, we see BCMA as an important target in this disease and we believe bb2121 has the potential to create significant impact on the treatment approach and outcomes for these patients," he said.

Bluebird?s stock was up more than 20% on Monday. The stock was upgraded by Jefferies to a buy rating with a price target of $211.

Shares of Cleantech Solutions International, Inc. (CLNT) fell after announcing it is buying a 60% stake in 3D Discovery Co. Ltd. for 3 million Hong Kong dollars ($384,300), which will be covered by 68,610 unregistered shares of the company at a price of $5.606 per share.

3D Discovery co-founder Michael Ho commented on the deal.

"3D Discovery will join the CLNT group as a core member of the 3D technology sector," he said. "We believe CLNT"s resources, along with our expertise, will provide a solid foundation to develop and promote 3D technology related businesses. Our vision is that our 360 virtual tour mobile app will become the ideal medium for sharing and experiencing space."

Disclosure : The author holds no positions in any stocks mentioned.

This article first appeared on GuruFocus.


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