Following are the notable gainers in the first hour on Monday:
IRIS International, Inc.(NASDAQ:IRIS) shares soared 44.93% to $19.45 in the morning hour after the company said that it has agreed to acquire diagnostics company Iris International Inc. (IRIS) for about $338 million, including debt assumed and net of cash acquired. Shares of Iris are gaining more than 45 percent following the announcement.
Complete Genomics, Inc.(NASDAQ:GNOM) stock increased 14.42% to $3.06 after GNOM and and BGI-Shenzhen announced that they have entered into a definitive merger agreement. Under the agreement, a wholly-owned U.S. subsidiary of BGI-Shenzhen will launch a tender offer to buy all outstanding shares of common stock of Complete Genomics for $3.15 per share in cash, without interest.
Office Depot Inc(NYSE:ODP) stock climbed 13.77% to $2.81. Starboard Value LP confirmed it has taken a 13.3% stake in Office Depot Inc., and said thecompany can improve its profitability by implementing a host of suggestions by the activist investment fund. The stake makes Starboard the largest shareholder of OPD. The company sells office supplies directly to businesses, and has an international unit that operates through joint ventures, licensing agreements and Internet sales.
Kratos Defense & Security Solutions, Inc(NASDAQ:KTOS) shares climbed 11.02% to $5.63 in the early hour after the company announced that Es’hailSat, the Qatar Satellite Company, has selected Kratos’ Integral Systems Europe S.A.S. (ISE) subsidiary to provide Es’hailSat’s Network Operations and Satellite Payload Monitoring Center (NOC) in Doha, Qatar. Es’hail 1, Qatar’s first satellite, is scheduled for launch in Q2 2013. Under the terms of the contract, ISE will design, build, and test the system in ISE’s integration facility in Labege near Toulouse, France, prior to shipment to and installation in Qatar.
Catalyst Pharmaceutical Partners, Inc.(NASDAQ:CPRX) shares increased 8.63% to $1.51 in the morning hour. The 52 week trading range for the company is $0.50 – $1.97. The shares of the company fell 13% in the last one year. The Company is focused on the development and commercialization of prescription drugs targeting addiction diseases and disorders of the central nervous system with a focus on the treatment of addiction and epilepsy.