VIR - Hot Stocks: CTXS takeover talk; ERJ SPAC deal; VIR downgrade; SAVA journal report; TMST buyback
Deal-making exerted influence in Tuesday's midday action. Citrix Systems (NASDAQ:CTXS) gained ground on reports of a potential takeover offer. At the same time, Embraer (NYSE:ERJ) received buying interest after it announced a SPAC deal to take its electric aircraft unit public. In other news, Cassava (NASDAQ:SAVA) expanded its value by nearly a quarter after a journal article reviewed the data for its Alzheimer's drug. Elsewhere in the market, TimkenSteel (NYSE:TMST) jumped on news of a stock buyback. Turning to the biggest midday losers, Vir Biotechnology (NASDAQ:VIR) dropped following an analyst's downgrade. Gainers Cassava (SAVA) soared 23% in midday trading after a journal article backed the company in a controversy surrounding data related to its Alzheimer's disease candidate simufilam. A report in the journal Neuroscience said a review of the situation showed no evidence of data manipulation by the company. Citrix Systems (CTXS) also experienced a substantial gain in midday action,
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Hot Stocks: CTXS takeover talk; ERJ SPAC deal; VIR downgrade; SAVA journal report; TMST buyback