All-Cash Deal At Rich Premium
Cyber-security provider Sourcefire is getting gobbled up by Cisco Systems for $2.7 billion. The deal values the smaller company at $76 a share in cash. FIRE catapults 29 percent higher before the opening bell on my tradeMONSTER platform. Rival Fortinet (:FTNT) is up 10 percent, as well.
Array BioPharma Gains on Phase II Data
Array BioPharma announced positive results from a Phase II trial of its ARRY-502 compound for the treatment of asthma. Management said it's now seeing a partner to keep developing the product. ARRY rose 17 percent in the premarket.
Subscriber Gains Weigh on Netflix
Netflix's earnings beat expectations, but subscriber growth did not! Only 630,000 streaming customers signed up in the second quarter, while analysts had projected 700,000. Given its massive 183 percent rally year-to-date, traders are taking a cautious stance, sending NFLX down 4 percent in early trading.
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