Monday was a meek day for the stock market, led lower by utility stocks, which were off by 1.4%. The S&P 500 Index fell by 0.3%, the Dow Jones Industrial Average lost 0.3% and the Nasdaq Composite had a 0.2% miss.
Heading into Tuesday’s trading day, investors and traders alike would do well to have their eyes on Conatus Pharmaceuticals Inc (NASDAQ:CNAT), Salesforce.com, Inc. (NYSE:CRM) and TerraForm Power, Inc. (NASDAQ:TERP).
Here’s what could move these three stocks today:
Salesforce.com, Inc. (CRM)
Cloud and customer relationship management titan Salesforce is up slightly on news that it will buy marketing data firm Krux.
CRM is shelling out $700 million, half in cash and half in stock. The move will help Salesforce improve its artificial intelligence capabilities with a marketing cloud platform that will help analyze and determine shopping trends.
Krux has been around for six years, and helps other retailers better identify audience segments to advertise their product in a more direct and effective manner.
Of course, Monday’s move might not be the last we hear about Salesforce’s M&A ambitions — the company still is among companies supposedly interested in buying Twitter Inc (NYSE:TWTR).
CRM shares are up less than 1% this morning.
Conatus Pharmaceuticals Inc (CNAT)
CNAT shares are up strongly in Tuesday’s early trade after the company released an update on its new liver medication.
The abstracts for four posters that revolve around Emricasan were unveiled, including the drug’s efficacy in treating cirrhosis and nonalcoholic Steatohepatitis.
The Conatus Pharmaceuticals product improved liver function, as well as offering a multi-pronged approach at improving the liver’s structure and potential to regenerate.
Further testing will be issued to continue monitoring Emricasan’s progress. So far, about 650 patients have tried the medication.
CNAT shares were up 9% in Tuesday’s premarket action.
TerrraForm Power, Inc. (TERP)
The solar energy provider disagreed with claims made last week by yieldcos TerraForm Power and TerraForm Global Inc (NASDAQ:GLBL) regarding Sunedison’s bankruptcy situation.The yieldcos said last week that the company failed to perform under the arrangement put in place by TerraForm Power’s initial public offering, creating a material breach. The company is looking to settle the case as soon as it can.
Sunedison said that it “disagrees with many of the statements, claims and allegations” from the yieldcos, and it will look to dismiss or settle proofs of claims in its bankruptcy cases. But it did acknowledge that it’s in settlement talks with TERP and GLBL.
TERP is off fractionally this morning.