Diamonds and Dogs
6/4/13Pluristem Therapeutics Inc. (PSTI)
Pluristem is trading in the red today, down 14.07% at $2.87. The cell therapy company saw its shares fall after news that the FDA put the Pluristem's clinical trial on hold. Pluristem management said that its muscle pain clinical trial was put on hold by the FDA after one patient had a serious allergic reaction to the therapy. The patient had to be hospitalized following the allergic reaction but was released the following day. The company stated that out of its 74 patients, this was the only patient who had a problem with the treatment. Pluristem shares are trading near their 52-week low of $2.26.
ExactTarget Inc. (ET)
ExactTarget is skyrocketing today, up 52.49% at $33.70. The digital marketing company saw its shares explode after news that Salesforce.com agreed to buy ExactTarget. The all-cash deal values ExactTarget at $33.75 per share and represents a whopping 53% to its closing price on Monday. Salesforce expects the acquisition to lower its 2014 adjusted EPS by $0.16 and boost revenue by $120 million-$125 million. Salesforce CEO Marc Benioff said, "The addition of ExactTarget makes Salesforce the starting place for every company and puts Salesforce.com in the pole position to capture this opportunity." ExactTarget shares hit a new 52-week high of $33.75 intraday.