8 months ago
Zoe's Kitchen sinks, Amgen plunges, and Blackstone's boost
Let's take a look at some of our Midday Movers.
Zoe's Kitchen sinking this morning, that as the fast casual chain was downgraded to neutral by RW Baird.
Shares of Amgen are headed lower, as the biotech firm said it doesn't expect one of its osteoporosis drugs to win FDA approval this year. That comes after a trial showed a higher rate of heart-related side effects.
And shares of Synchronoss Technologies falling on a downgrade to underperform at Credit Suisse, which cited AT&T's plan to permanently close a cloud storage service powered by Synchronoss.
Meanwhile, stocks moving higher include Blackstone on an upgrade to buy at Citi, which cited the firm's plans to create a $40 billion infrastructure initiative with Saudi Arabia's sovereign wealth fund.
Finish Line on an upgrade to buy at Monness, Crespi, Hardt & Co.,
Nutritional supplement maker Nutraceutical after agreeing to be acquired by private equity firm HGGC for $41.80 a share, that's a 49% premium to its prior close.