DISH Network [DISH] - Last Close: $7.72
DISH Network is trending after on a new report.
This morning, Bloomberg reported the satellite TV company will begin selling its premium wireless service on Amazon.com [AMZN] as soon as this week.
The report cited unnamed sources with knowledge of the plan, and shares of DISH are reacting favorably to the story.
Shares of DISH are leading the S&P 500 with an 8.8% gain.
My Take: DISH has actually been trending higher for the past week or so, and today's rally could put it into a new trading range. This down-and-out stock could be in prime position for a swing higher.
Silicon Motion [SIMO] - Last Close: $52.20
Merger news is boosting shares of Silicon Motion.
The Hong Kong-based semiconductor equipment company has reportedly received approval to merger with China's Maxlinear [MXL].
So far, the details are sketchy, and there's little information on the terms of the deal.
However, SIMO is up 77.0% in response to the reports, and American depository shares of MXL are down 29.2%.
My Take: Hard to say where we stand with this merger without more info on the terms of the deal. Until we find out more, it's probably wise to stay away from SIMO.
PacWest Bancorp [PACW] - Last Close: $7.69
PacWest is rallying in the wake of a merger announcement.
The embattled regional bank has agreed to be acquired by California Banc [BANC] in a $1.1 billion all-stock deal.
PacWest's investors will receive 0.6569 shares of BANC for every outstanding share of PACW they own.
Private equity firms Warburg Pincus and Centerbridge Partners have also agreed to invest $400 million in Banc of California's buyout deal.
PACW is up 27.3% following the deal announcement.
My Take: Late yesterday, news reports began to surface claiming this deal was in the works, and the rumors initially prompted a steep drop-off in shares of PACW. However, the stock is reversing course in dramatic fashion in today's premarket. Unfortunately, it appears upside will be limited from here on out.
CVRx [CVRX] - Last Close: $16.94
An upbeat earnings report is boosting shares of CVRx.
Late Tuesday, the medical device company reported Q2 results that surpassed Wall Street's expectations.
CVRx posted a thinner-than-expected Q2 operating loss of $(0.56) per share. Consensus estimates expected a $(0.58) per share loss.
Revenues of $9.5 million also topped the Street's $8.57 million target and marked an 88.8% increase from the previous year.
CVRX is up 13.1% in the wake of the earnings release.
My Take: CVRX's chart looks surprisingly good. Share prices have been steadily trending higher since at least the start of May. This tiny micro-cap could be worth keeping a close eye on.
