Diamonds and Dogs
RTI International Metals Inc. (RTI)
RTI International Metals is on fire today, up 39.30% to $38.00. The titanium and specialty metal company saw its shares rally after news that they would be bought out by Alcoa. The stock-for-stock transaction had an enterprise value of $1.5 billion and would offer Alcoa realized net synergies of about $100 million in 2019. Alcoa also expects RTI to contribute $1.2 billion in revenues in 2019. Shares of RTI spiked over $10.70 today to a new 52-week high of $38.87 intraday.
AcelRx Pharmaceuticals Inc. (ACRX)
AcelRx is trading in the red today, down 37.07% to $5.50. The biopharmaceutical company saw its shares fall after the FDA requested an additional trial for the company's pain drug. The regulator rejected the drug, Zalviso, once last July. AcelRx said that it would not resubmit the drug's regulatory application this quarter due to the communication from the FDA. Shares of AcelRx slipped nearly $3.24 today and set a new 52-week low of $5.07.