Acorda Therapeutics shares rose Friday after hedge fund Third Point LLC said late Thursday it has filed a Schedule 13D with the Securities and Exchange Commission, urging the board of Acorda to initiate a process to sell the company. Entities advised Third Point hold 9.9% of Acorda's shares. In a letter to Acorda Chief Executive Ron Cohen, Third Point said "should the board of directors not be responsive to our request, we will explore alternatives for exerting greater control of the company."
PDL BioPharma is still moving lower more than a day after the company missed fourth-quarter earnings targets. The stock was losing 26 cents, or 1.3%, to $19.45.
On the other hand, Cerus was one of the best performers of Friday's session. After the previous close, the biotech company swung to a fourth-quarter profit that easily beat Wall Street's estimates. Cerus was recently up 33 cents, or 5.8%, to $6.07.
Just some stocks I'm watching today. Cerus just had an approval in Germany, so I may jump in soon.
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