3 Stocks to Watch on Tuesday: Biogen Inc (BIIB), Conatus Pharmaceuticals Inc (CNAT) and General Motors Company (GM)

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It was a positive start to the week for U.S. equities as telecoms gained 1.1%, while REITs surged 1%. The Dow Jones Industrial Average gained 0.2%, the S&P 500 rose 0.2% and the Nasdaq Composite grew by 0.4%.

3 Stocks to Watch on Tuesday: Biogen Inc (BIIB), Conatus Pharmaceuticals Inc (CNAT) and General Motors Company (GM)Several companies made headlines to kickoff the second half of December, including Biogen Inc (NASDAQ:BIIB), Conatus Pharmaceuticals Inc (NASDAQ:CNAT) and General Motors Company (NYSE:GM).

Here’s how they did:

Biogen Inc (BIIB)

Biogen has made a major management change.

Michel Vounatsos has been named as the company’s new CEO. He previously served as the chief commercial officer of the company, which specializes on drugs that battle neurological, autoimmune and rare diseases.

Biogen is currently in the process of developing spinal muscular atrophy medication, as well as remedies to battle Alzheimer’s disease. Vounatsos is replacing George Scangos, who has been with the company as CEO for more than six years.

As of Jan. 6, Vounatsos will be CEO. The former chief commercial officer has helped the company’s product portfolio grow. He has also helped to support its pipeline.

The company has a market capitalization of $60.5 billion.

BIIB shares fell 0.1% after the bell Monday.

Conatus Pharmaceuticals Inc (CNAT)

Conatus has struck a deal with Novartis AG (ADR) (NYSE:NVS) surrounding a liver medication.

The company has inked an agreement with the large pharma company to create a fatty liver disease drug together, which will net Conatus $50 million up front.

The drug is emricasan, which is an experimental oral treatment that helps to treat nonalcoholic streatohepatitis (NASH) with advanced fibrosis and cirrhosis.

The disease is a chronic, progressive fatty liver condition that causes inflammation and scarring. Conatus will receive the up-front payment as well as additional payments going forward.

The extra money will be linked to milestones related to the development, regulatory and commercial milestones.

“For Conatus, the near-term infusion of capital and Phase IIb cost-sharing allows us to fund ongoing operations through 2019,” Conatus CEO Steven Mento said in a statement.

CNAT stock is up 124.5% Monday after hours.

General Motors Company (GM)

General Motors is reducing its presence in the U.S.

The company is shutting down five car assembly plants in the U.S. for certain periods of time in January to reduce the oversupply of sedans. These vehicles are not as popular among American consumers as they once were.

The company announced the information alongside the United Auto Workers.

GM is targeting about 70 days of inventory.

GM stock was trading flat after the bell.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/12/tuesday-biogen-inc-biib-conatus-pharmaceuticals-inc-cnat-general-motors-company-gm/.

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