Upside, Downside Movers in the Morning

Upside

– $ALEC +58% (global AL050 license brings $100M upfront, up to $1.17B in milestones and extends the cash runway into 2029)

– $PCVX +55% (VAX-31 OPUS-1 pivotal Phase 3 trial met all prespecified primary endpoints with a safety profile comparable to existing vaccines)

– $PTC +36% (agrees to a $205-a-share all-cash takeover valuing its equity at about $22.6B)

– $RXO +23% (agrees to a $5.8B cash-and-stock takeover by $CHRW, implying about $30.25 a share)

– $XP +17%, $BBD +12%, $NU +13%, $ITUB +14%, $PBR +9.4%, $EMBJ +5.4% (Brazil-linked ADRs surge after the right-wing candidate outperformed polls and led first-round presidential voting)

– $ADSK +4.4% (industrial-software M&A read-through from the PTC takeover)

– $VST +3.5% (reported $4.2B federal loan package expected to fund upgrades at three nuclear plants)

Downside

– $CHRW -7.6% ($RXO acquisition requires new debt and a buyback pause while the market weighs execution and integration risk)

– $INTC -3.8% (no clear fresh company catalyst identified as chip shares lag softer technology futures)

– $ALGN -3.1% (no clear fresh company-specific catalysts identified; notable liquid premarket declines)

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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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