Stock Movers: SoHo House & Dayforce Go Private, Novo & Tonix Pharma Gain on FDA Approvals

Take-Private Deals Drive Stock Gains

• 🏠 SoHo House is set to go private in a confirmed deal at $9 per share, with its stock trading up 16% to $8.88, reflecting an enterprise value of $2.7 billion.
• 💡 Investors had been pushing for this move since late last year, as the company's shares slumped significantly below their 2021 IPO price of $14.
• 🤝 Apollo Global Management was instrumental in facilitating the SoHo House deal, providing over $700 million in financing.
• 💻 Dayforce, a human resources management software provider, is reportedly in talks for a take-private deal with buyout firm Thoma Bravo, leading to a nearly 29% jump in its pre-market shares.
• 📉 Dayforce's stock has fallen about 60% from its 2021 highs, despite revenue growth and profitability, due to a challenging enterprise software market.

FDA Approvals Boost Pharmaceutical Stocks

• 💉 Novo Nordisk shares rose 3% on FDA approval for its weight-loss drug Wegovy to treat a serious form of liver disease.
• 🏆 This approval positions Novo Nordisk to beat rival Eli Lilly to the US market for treating liver disease with a weight-loss drug, potentially reversing liver damage.
• 📈 This marks the second positive catalyst for Novo Nordisk this month, following recent weakness reported for Eli Lilly's weight-loss pill.
• 💊 Tonix Pharmaceuticals shares surged 12% after an FDA approval for its fibromyalgia drug, Tonmya, which is expected to be available in the fourth quarter.
• ⚠️ Tonix Pharma's stock experienced a trading halt prior to the announcement of the FDA approval.