Estee Lauder Gains, Imax Jumps, Denali Therapeutics Slides After Parkinson’s Drug Trial Failure
Stock Movers22 Touko

Estee Lauder Gains, Imax Jumps, Denali Therapeutics Slides After Parkinson’s Drug Trial Failure

On this episode of Stock Movers:
- Estee Lauder (EL) shares gain. The US beauty company and Spanish firm Puig confirmed talks about a potential business combination have ended. Analysts cite several reasons for the positive reaction to the termination of talks, including “aversion to large deals,” integration risk/potential dilution to shareholders, as well as distraction to core business and its Beauty Reimagined strategic plan. Some analysts see better M&A opportunities in fragrance, or in masstige/mass segments.
- Imax (IMAX) shares jump. The Wall Street Journal reported the large-screen theater company is exploring a sale and has approached entertainment companies as potential buyers. The sale process is in early stages and may not result in a deal, the report states, citing people familiar with the situation
- Denali Therapeutics (DNLI) shares slide. The drug developer said a mid-stage study of an experimental therapy for Parkinson’s disease, with partner Biogen, did not meet its primary or secondary endpoints.

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Jaksot(2275)

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