| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers M > Headlines for MongoDB, Inc. > News item |
Morning Commentary: Sarepta convertible notes hit new outright high; MongoDB gains
By Abigail W. Adams
Portland, Me., Oct. 18 – There was an uptick of activity in the convertibles secondary space on Tuesday as equities extended their strong gains from the previous session ahead of key earnings.
The Dow Jones industrial average was up 421 points, or 1.39%, the S&P 500 index was up 1.4%, the Nasdaq Composite index was up 1.39% and the Russell 2000 index was up 1.6% shortly before 11 a.m. ET.
Equities have surged over the past two session; however, volatility remains high as attention shifts to earnings with Netflix Inc. slated to report after the bell on Tuesday.
There was $90 million in reported volume about one hour into the session although few names saw concentrated trading activity.
Sarepta Therapeutics Inc.’s 1.25% convertible notes due 2027 hit their highest outright level early Tuesday since the $1.15 billion issue priced in mid-September.
The 1.25% notes traded as high as 108 early in the session.
They were changing hands at 107.625 versus a stock price of $118.18 about one hour into the session.
There was $6 million in reported volume.
Sarepta’s stock was trading at $117.56, an increase of 3.03%, shortly before 11 a.m. ET.
MongoDB Inc.’s 0.25% convertible notes due 2026 were also active early in the session with the notes making gains on an outright and dollar-neutral basis.
The notes climbed 6 points outright with stock up $10 in early trading.
The notes were seen at 116 versus a stock price of $192.26 in early trading, according to a market source.
There was $6 million in reported volume.
MongoDB’s stock was changing hands at $189, an increase of 3.65%, shortly before 11 a.m. ET.
© 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.