HNST - Hot Stocks: QCOM's VNE bid; HNST NGM rise on analyst comments; LIFE clinical data; IRTC new CEO
M&A headlines and analyst comments sparked some high-profile movement in Monday's midday market action. This included reports that Qualcomm (NASDAQ:QCOM) has submitted a binding $4.6B offer for Veoneer (NYSE:VNE). Meanwhile, Honest Company (NASDAQ:HNST) and NGM Biopharmaceuticals (NASDAQ:NGM) both posted notable gains on positive analyst comments. Elsewhere, aTyr Pharma (NASDAQ:LIFE) skyrocketed on strong clinical trial results. iRhythm Technologies (NASDAQ:IRTC) was another major gainer following in intraday trading, thanks to the appointment of a new CEO. Gainers Bloomberg reported that Qualcomm (QCOM) has made a binding offer to purchase Veoneer (VNE) for $37 per share. This formalizes a bid QCOM made last month, beating out a previous proposal from Magna International (NYSE:MGA). On the news, VNE climbed nearly 3% in intraday action to trade at $35.78. QCOM ticked up fractionally. Turning to other parts of the market, an analyst comment boosted shares of Honest Company (HNST). The stock climbed 9% in midday
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Hot Stocks: QCOM's VNE bid; HNST, NGM rise on analyst comments; LIFE clinical data; IRTC new CEO