Coverage of Top Gainers TESARO, PrivateBancorp, and MGT Capital Investments

LONDON, UK / ACCESSWIRE / June 30, 2016 / Active Wall St announces its coverage of market signals with highlight on these Top Gainers from Wednesday’s session: TESARO Inc. (NASDAQ: TSRO), PrivateBancorp, Inc. (NASDAQ: PVTB), and MGT Capital Investments, Inc. (NYSE: MGT).

Stock Market Performance

On Wednesday, June 28, 2016, U.S Stock indexes rallied as worries about the outcome of the U.K.’s vote to leave the European Union appeared to ease.

The Dow Jones industrial average gained 284.96 points, or 1.64%, to 17,694.68. The Nasdaq Composite rose 87.38 points, or 1.86% closing at 4,779.25.

And the S&P 500 added 34.68 points, or 1.7%, to 2,070.77. It was the biggest two-day gain for the S&P 500 in the past four month and the benchmark index has recouped more than half of its losses from the two-day equities rout sparked by the British referendum.

Today, AWS is promoting its market signals coverage with emphasis on TSRO, PVTB, and MGT. Get all of our reports for free by signing up to http://www.activewallst.com/register/.

Top Gainers – TESARO

On Wednesday, shares of TESARO Inc. had more than doubled its market cap gaining 108.01% to close at $77.40, after the company announced the successful clinical trial of its product, Niraparib, for treating ovarian cancer.

The trial showed that the drug extended the lives of the patients taking it by increasing the time elapsed between treatment and tumor progression. The 500 participants in the study already had their tumors shrank from other treatments, but niraparib stopped the tumor from growing again. The company intends on submitting a New Drug Application (NDA) with the US Food and Drug Association in the upcoming fourth quarter.

The stock recorded trading volume of 19.08 million shares, which was higher than its three months average volume of 591,990 shares. Tesaro’s shares have advanced 47.94% since the beginning of 2016.

Top Gainers – PrivateBancorp

Shares of PrivateBancorp, Inc. surged 23.27% on Wednesday, after Canadian Imperial Bank of Commerce (NYSE: CM) announced that it has entered into a definitive agreement to acquire PrivateBancorp in a cash and stock deal valued at $3.8 billion.

Canadian Imperial will pay $18.80 in cash and 0.3657 of its common shares for each share of PrivateBancorp. Canadian Imperial is acquiring PrivateBancorp to expand its base in the U.S. The former company had earlier acquired Atlantic Trust, a private wealth-management firm.

A total of 17.12 million shares of PrivateBancorp changed hands during yesterday’s session, significantly higher than the three month average volume of 892,440 shares. Since beginning of 2016, the stock has gained 8.03%.

Canadian Imperial’s shares declined 2.19% to close at $75.42, following the announcement.

Top Gainers – MGT Capital Investments

On Wednesday, shares of MGT Capital Investments, Inc. climbed 23.17% to finish the trading session at $4.04.

MGT Capital Investments announced it has hired the development team of E-Tagged in order to commercialize the E-Tagged mobile device tracking technology. E-Tagged is a cyber-security product designed to detect and identify approaching individuals or motor vehicles by utilizing a proprietary technology that analyses the radio signals broadcast by cell phones. MGT Capital Investments will utilize the E-tagged technology in soon to be released products that secure digital networks and home systems from unauthorized hacking or unwanted intrusions.

A total of 16.64 million share changed hands as compared to the three month average volume of 10.71 million shares. The company’s stock has advanced 48.53% in the last one month, and has rocketed 1656.52% since the beginning of the year.

Additionally in the news, on Monday, MGT Capital Investments announced that it was added as a member of the Russell Microcap Index.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@activewallst.com
Phone number: 1-858-257-3144
Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute

SOURCE: Active Wall Street

ReleaseID: 441854