Each day, the Benzinga Pro news team highlights several stocks with Trading Idea potential. Be the first to see them by becoming a Benzinga Pro user!
Fibrocell Science Inc (NASDAQ: FCSC) stock gained 15 percent Monday morning in reaction to the autologous cell-based therapeutic company's announcement of interim results from an ongoing clinical trial. The company's Phase 1/2 clinical trial of its FCX-007 gene therapy for recessive dystrophic epidermolysis bullosa was "well tolerated up to 52 weeks post-administration" with no product-related adverse events reported.
Avenue Therapeutics Inc (NASDAQ: ATXI) gained more than 3 percent. The therapeutics company said its first pivotal Phase 3 trial of IV tramadol achieved its primary endpoint of a statistically significant improvement in Sum of Pain Intensity Difference over 48 hours (SPID48) compared to a placebo.
General Electric Company (NYSE: GE) gained more than 2.5 percent after the conglomerate giant reached an agreement to merge its transportation unit with Westinghouse Air Brake Technologies Corp (NYSE: WAB). As part of the agreement, General Electric will receive $2.9 billion in cash and hold a 50.1 percent ownership stake in the new entity.
Acacia Communications, Inc. (NASDAQ: ACIA) gained nearly 4 percent -- a move that may be attributed to easing tensions between the U.S. and Chinese governments. A trade war between the two countries is "on hold," which may bode well for Acacia who derived 30 percent of its revenue from China's ZTE.
QUALCOMM, Inc. (NASDAQ: QCOM) was trading higher by more than 1 percent after the company announced a partnership with Facebook, Inc. (NASDAQ: FB). As part of the new partnership, Qualcomm and Facebook will work together to deliver high-speed internet connectivity with Facebook's Terragraph technology through Qualcomm's 60GHz technology.
23 Stocks Moving In Monday's Pre-Market Session
The Week Ahead In Biotech: PDUFA Dates, IPOs And More
See more from Benzinga
- Credit Suisse On The Timeshare Sector: What's Not To Like?
- For Spotify's Stock, Raymond James Says 'Stream On'
- The Latest From China: Qualcomm-NXP Semiconductors Tie-Up 'Looking More Optimistic'
© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.