Upside, Downside Movers in the Morning

Upside:

-CRNX +99% (to be acquired by Vertex at $85/shr in cash, valuing it at $10.0B)

-PDYN +6.5% (executes AFRL HANGTIME contract for SwarmOS multi-domain autonomy)

-FISV +4.9% (JPMorgan, BOFA, and other banks held preliminary talks for acquisition of Fiserv’s network)

-NET +3.3% (Scotia Howard Weil Raised NET to Sector Outperform from Sector Perform, price target: $300)

-MGTX +3.0% (enters up to $400M royalty and equity financing with Oberland Capital)

-SHEL +2.6% (to divest Shell Downstream South Africa tto ADNOC Distribution at implied EV of $1B; reports Q2 upstream production)

-PLUG +2.2% (to supply GenEco PEM electrolyzers for 50 MW Hunter Valley Hydrogen Hub in Australia)

Downside:

-RIVN -11% (Q2 revenue guidance; files to offer of up to 75M shares)

-WDC -6.0% (sector weakness)

-AMD -3.9% (sector weakness)

-INTC -3.5% (sector weakness)

-ON -3.4% (to divest two chipmaking plants to reduce costs)

-AVGO -2.3% (hearing Erste Group Cuts AVGO to Hold from Buy)

Positions: None.

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Posted by Doug Kass

Doug Kass is a world-renowned hedge fund manager with decades of experience and success navigating through some of the most turbulent periods in market history. He is known for his time-tested analytical skills and ability to look past the current noise and herd mentality. On TheStreet Pro, Kass provides frequent market commentary and investing ideas for active investors throughout each trading day in Doug’s Daily Diary. He also serves as president of Seabreeze Partners Management Inc. Previously, he served as a senior manager at Omega Advisors, a $6 billion investment partnership. He co-authored a book with Ralph Nader and the Center for the Study of Responsive Law called “Citibank: The Ralph Nader Report” and can be found as a guest host on CNBC's "Squawk Box." A Note from Doug: Current strategies and actionable trade ideas -- all on one dynamic platform built exclusively for active trades. From sudden sell-offs to sudden spikes, TheStreet Pro arms you with crucial analysis -- at a rapid fire, professional pace -- to help you make sound trading decisions -- every day, every hour, and every minute. Join me and my team of professional traders for unique perspectives and breakthrough investment opportunities.

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