ResMed [RMD] - Last Close: $179.25
ResMed is bouncing back after a steep selloff on Friday.
The healthcare supplies company set a new 52-week low on Friday after falling 18.5% following the releasing its fiscal Q4 earnings report.
ResMed's EPS missed expectations, and it posted revenues that just barely met the Street's consensus estimate.
Several analysts downgraded their rating on RMD in response to the weak report and concerns regarding increasing competition from Philips [PHG].
RMD is leading the S&P 500 in the premarket with a 5.7% gain.
My Take: It appears Friday's sell off was overdone. However, RMD will have to overcome stiff resistance to recapture its former highs.
Tabula Rasa HealthCare [TRHC] - Last Close: $7.83
New earnings data is boosting shares of Tabula Rasa.
The healthcare company published its Q2 earnings report this morning, and it's getting a warm reception from the market.
Tabula Rasa HealthCare reported a quarterly loss of $(0.38) per share, missing the consensus of a $(0.14) per share loss by 171%.
However, the company's revenues jumped 24% YoY to $90.04 million for the quarter, beating the Street's $88.82 million consensus by 1.37%.
Shares of TRHC are up 30.9% in the wake of the earnings release.
My Take: TRHC has had an impressive few months, but it recently pulled back after encountering stiff resistance around $9 per share. This rally could put it over the hump and into a new trading range.
Sovos Brand [SOVO] - Last Close: $18.02 
Sovos is getting a big boost from a buyout announcement.
This morning, the food products company said it has agreed to be acquired by Campbell Soup [CPB] in an all-cash deal worth approximately $2.7 billion.
Under the terms of the deal, SOVO investors will receive $24 in cash for each outstanding share.
The deal represents a 33% premium to SOVO's Friday closing price.
Shares of SOVO are currently up 24.8%.
My Take: SOVO is currently trading for about $22.50, so there's only about 6.7% of potential upside left on the table.
Sequans Communications [SQNS] - Last Close: $2.13
Sequans Communications is also rallying on buyout news.
The Paris-based semiconductor equipment company has agreed to be acquired by Renesas Electronics Corp in a $249 million deal.
According to a joint statement from the companies, Renesas will launch a tender offer to acquire all outstanding U.S. depository shares of SQNS at $3.03 apiece.
The purchase price represents a 42% premium from Friday's closing bid for SQNS.
The deal is expected to closed by Q1, 2024, pending regulatory approval and customary closing conditions.
SQNS is up 32.3% on the news.
My Take: SQNS is also trading for very close to its acquisition price, so upside here is limited.
