| 3M [MMM] - Last Close: $98.95 3M has reportedly settled a major lawsuit. This morning, news broke that the industrial conglomerate had settled a legal dispute over defective military ear plugs for $5.5 billion. The settlement is expected to resolve roughly 300,000 claims against the company. According to Bloomberg, 3M could've been forced to pay as much as $9.5 billion, so the settlement seems to be a good deal for the company. 3M is leading the S&P 500 with a 5.8% gain. My Take: The 3M earplug lawsuit has been dragging on for years, and MMM investors are relieved it's finally over. Better yet, the company got a pretty good deal for itself. I am bullish. Hersha Hospitality [HT] - Last Close: $6.28 Buyout news is boosting shares of Hersha Hospitality. The micro-cap REIT has agreed to be acquired by KSL Capital Partners in an all-cash deal valued at roughly $1.4 billion. Under the terms of the deal, which was announced early this morning, KSL Capital will pay $10 per share to acquire HT, marking a 60% premium from Friday's close. The deal is expected to close in Q4, pending shareholder approval and customary closing conditions. HT is this morning's top stock with a 55.7% gain. My Take: Nice deal for HT shareholders, but there's virtually no upside left on the table in this trade at its current price point. Hawaiian Electric [HE] - Last Close: $9.66 Hawaiian Electric is rallying after firing back at the State of Hawaii. The island utility company published a rebuttal to the state's lawsuit allegations early this morning, and shares are trending higher in response. Hawaiian Electric accused the state of taking hasty legal action before a thorough investigation could reach its conclusion. It admitted that there was a fire involving its power lines on Aug. 8th, but it was quickly extinguished by the Maui County Fire Dept. Later that day, Hawaiian Electric saw a second fire started nearby and reported it to the Maui Fire Dept., who was unable to respond in time. The second fire ultimately went on to devastate Lahaina and other parts of the island. HE claims the cause of that fire is still under investigation. HE is up 28.3% on active trading volume following its statement. My Take: This bodes well for HE, but it there's still a lot of negative public sentiment towards this company. It could be a battleground stock for a while, so maybe it's not the right time to jump in the fray. Definitely worth watching, though. LQR House [LQR] - Last Close: $1.02 LQR House is up after an early-morning announcement. Monday morning, the alcohol marketing firm said its board had authorized a $2 million plan to buyback common shares of its stock. The share repurchase agreement will allow the company to purchase shares via the open market, privately negotiated transactions, and other legal means. LQR House also said it has partnered with marketing services provider Gold Standard Media to boost its market presence. LQR is one of this morning's top stocks with a 37.2% gain. My Take: Although the buyback plan could provide some price support for LQR, the stock has struggled since its market debut, and it will probably take a lot more than a $2 million buyback deal to right the ship. GainersGenius Group [GNS] >> +30.8%Vahanna Tech [VHNA] >> +24.8%Qomolangma Acquisition [QOMO] >> +22.6%Micromobilitycom [MCOM] >> +13.1%DeclinersBetter.com [BETR] >> (93.8%) Novocure [NVCR] >> (35.5%)VERB TECH [VERB] >> (18.8%)Myomo [MYO] >> (15.0%) Nordic American Tankers Limited [NAT] ... AM
Baozun Inc. Dr [BZUN] ... AM
Heico Corporation [HEI] ... PM
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Afya Limited [AFYA] ... PM
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17 Education & Technology Group Inc. Dr [YQ] ... PM
Tarena International, Inc. Dr [TEDU] ... PM None scheduled |
