| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for Exact Sciences Corp. > News item |
Morning Commentary: Exact Sciences convertible notes remain in focus; shares improve
By Abigail W. Adams
Portland, Me., Dec. 20 – While equity markets stood poised to snap their losing streak on Tuesday, activity in the secondary space continued to dwindle as the market entered into the final days of the year.
Equity indexes were in the green early Tuesday after seeing heavy selling since the Federal Reserve’s Dec. 14 announcement.
The Dow Jones industrial average was up 114 points, or 0.34%, the S&P 500 index was up 0.28%, the Nasdaq Composite index was up 0.27% and the Russell 2000 index was up 0.86% shortly before 11 a.m. ET.
There was $62 million in reported convertibles trading volume early in the session with a wide variety of names on the tape.
Exact Sciences Corp.’s convertible notes remained active as stock resumed its uptrend.
The 0.375% convertible notes due 2027 added about 0.75 point outright with stock up more than 2.5%.
The notes were trading at 83.875 versus a stock price of $51.13 early in the session, according to a market source.
There was $4 million in reported volume in the notes.
The 0.375% convertible notes due 2028 were up 0.25 point outright.
The notes were trading at 79.25 versus a stock price of $50.04 early in the session.
There was also $4 million in reported volume.
Exact Sciences’ stock was changing hands at $51.42, an increase of 2.84%, shortly before 11 a.m. ET.
The molecular diagnostics company’s convertible notes and stock have surged since last Friday when competitor Guardant Health Inc. released clinical results that showed Exact Sciences’ existing colorectal cancer screening test to be more effective than a blood test by Guardant.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.