VZ - Hot Stocks: CASA soars on VZ investment; SWX potential bidding war; TGTX NKTR drop on drug setbacks

Stocks recorded fractional declines on Monday, bouncing around during the session as investors waited for signals from incoming earnings reports due out during the rest of the week.  Even with the general lack of direction, some stocks showed major moves on the back of news. This included Casa Systems (NASDAQ:CASA), which soared more than 80% after Verizon (VZ) took a sizable stake in the firm. M&A news also gave a lift to Southwest Gas (SWX). The stock surged on signs of a potential bidding war. Elsewhere, drug development news prompted two of the day's biggest decliners. TG Therapeutics (TGTX) and Nektar (NKTR) both plunged after major setbacks to their respective development programs. Standout Gainer Casa Systems (CASA) surged 82% after announcing that telecom giant Verizon (VZ) had made a sizable investment in the provider of 5G solutions for internet service firms. CASA reported that under the investment, VZ purchased $40M

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Hot Stocks: CASA soars on VZ investment; SWX potential bidding war; TGTX, NKTR drop on drug setbacks