| Dice Therapeutics [DICE] - Last Close: $33.85 News of a big buyout is boosting shares of Dice Therapeutics. This morning, the biotech firm said it agreed to be acquired by Eli Lilly & Co [LLY] in an all-cash deal worth roughly $2.4 billion. Dice Therapeutics will likely commence a tender offer to acquire all outstanding shares of DICE for $48 apiece. The tender offer pays a 41.8% premium compared to the stock's Friday closing price. DICE is one of this morning's hottest stocks, with a 38.2% gain. My Take: Nice pop for DICE shareholders, but you're late to the party if you're not already in position. However, LLY is down slightly on the news, so there could be an opportunity there. VCI Global [VCIG] - Last Close: $2.83 VCI Global just made a big announcement. This morning, the terch firm said it has been tapped as a distributor for the promotion & sale of Cogia GmbH's "Socializer Messenger" platform. A company press release described "Socializer Messenger" as an "all-in-one communication tool with full data encryption and privacy protection." The platform is owned & controlled by Germany's Cogia CmbH, but VCIG has been granted an exclusive distributorship in Southeast Asian countries. VCIG also has non-exclusive distribution rights outside of Southeast Asia, and it's entitled to a percentage of revenues derived from its sales. The deal has a two-year term with an automatic one-year renewal period. Shares of VCIG are up 48.0% on the news. My Take: This looks like another AI hype rally. VCIG shares have been trading flat for months, but maybe this catalyst can start a new up-trend. There could be opportunity here, but be cautious of a potential pullback. Innovative Eyewear [LUCY] - Last Close: $2.19 Innovative Eyewear just landed a huge contract. Early this morning, the smart eyewear firm announced an agreement with Authentic Brands Group to license the Reebokรยฎ brand for its smart eyewear. Executive VP of Reebok, Steve Robaire, said Innovative Eyewear's smart eyewear technology will "reinforce the brand's standards in this emerging category." Innovative Eyewear CEO Harrison Gross said their forthcoming collection will focus on digital-connected sports eyewear in four major segments, including ready-to-wear sunglasses, prescription eyeglasses, safety glasses, and sports glasses. The initial Reebok-branded smart eyewear collection is expected to launch in early 2024. Financial terms of the deal weren't disclosed in the initial press release. LUCY is one of this morning's top performers with a 29.2% gain. My Take: LUCY is beginning to show some promise. It has locked down some high visibility brands, and its smart eyewear technology seems to have a lot of potential. Evelo Biosciences [EVLO] - Last Close: $0.12 Evelo Bio is moving higher after a regulatory filing. After Friday's close, the micro-cap biotech published its Form-8K Current Report filed on June 12th, 2023. Notably, the report mentioned a venture loan and security agreement between Evelo & Horizon Technology Finance Corp. On June 12th, the company and Horizon agreed to extend a "stand-still" period until June 16th at 9:59 p.m. ET. It's currently not clear if that agreement has been extended beyond the deadline, but shares are reacting favorably on the heels of the 8-K filing. EVLO is one of this morning's top performer with a 45.2% premarket gain. My Take: I'm not really sure what the story is here, but this is one of today's top movers, so I thought it was worth mentioning. I think more will come out on this unfolding story later in the session. GainersEbet [EBET] >> +73.4%Cano Health [CANO] >> +19.3%Biofrontera [BFRI] >> +29.5%Tivic Health [TIVC] >> +20.7%DeclinersSurgalign Holdings [SRGA] >> (51.1%) Faraday Future [FFIE] >> (35.6%)Dragonfly Energy [DFLI] >> (23.3%)Arcellx [ACLX] >> (12.7%) Smart Share Global Limited Dr [EM] ... AM
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Dynagas Lng Partners Lp [DLNG] ... PM Housing starts [May] ... 8:30a New York Fed President John Williams speaks 11:45a | 