These three stocks saw increased action on the upside on Friday as various catalysts led to increased trader interest and trading volume.
Acura Pharma (NASDAQ:ACUR) – The stock rose 10% after the FDA rejected a potential competitor drug. The FDA issued a Complete Response Letter for Pain Therapeutics’ and Durect’s Remoxy drug candidate for moderate-to-severe chronic pain. Acura’s drug Oxecta, was approved on Monday by the FDA. Oxecta is the first immediate-release oxycodone HCl medicine that applies technology designed to discourage common methods of tampering associated with opioid abuse and misuse. Note, Pfizer (NYSE:PFE) is working on drugs.
Southern Union (NYSE:SUG) – The stock saw increased action on Friday after Williams proposed to acquire the company for $39 in cash per share. The stock rose nearly 17%. This was the second offer for the company. Williams' all-cash proposal represents a premium of 18% over the purchase price in Southern Union's proposed transaction with Energy Transfer Equity, announced on June 16, in which Southern Union shareholders would receive optionally redeemable Series B MLP partnership units of Energy Transfer with a stated value of $33.00 per share. The Williams proposal also represents a premium of 38% over Southern Union's closing share price the day prior to the Energy Transfer announcement. The Williams proposal is not subject to any financing contingency.
Blackboard (NASDAQ:BBBB) – Blackboard rose 8% after a report that the company is close to being acquired. The company provides enterprise technology and innovative solutions that improve the experience of millions of students and learners around the world every day. Blackboard's solutions allow thousands of higher education, K-12, professional, corporate, and government organizations to extend teaching and learning online, facilitate campus commerce and security, and communicate more effectively with their communities.