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Today's hot stocks: It's Monday on Wall Street, and that typically means a flurry of mergers and acquisitions.
Indeed, several deals were announced today and are featured on our hot stocks to watch list - one surging some 236%. Meanwhile, a penny stock deemed the next likely takeover candidate amid the rash of healthcare M&A soared 42%.
Check out 12 of Monday's movers and find out what's behind their action.
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12 Hot Stocks to Watch Today: AAPL, FDO, GWPH, and More
Achillion Pharmaceuticals Inc. (Nasdaq: ACHN) kicks off our hot stocks list. Shares of the microcap biopharmaceutical company surged 42% to $4.13 intraday. By noon, more than 18 million ACHN shares changed hands compared to its average daily volume of 1.1 million shares. ACHN rose in the wake of Merck's purchase of Idenix (see story below), as investors look for the next hepatitis drug maker poised to be taken over.
Apple Inc. (Nasdaq: AAPL) shares rose 1.33% to a new post 7-for-1 split high of $93.47. Today marked the first day the iPhone maker traded after completing the rare stock split. Separately, more rumors surfaced Monday that Apple is putting the finishing touches on its long-awaited iWatch. Stifel Nicholas, meanwhile, upped its price target today on Apple to $110.
Berkshire Hathaway Inc. (NYSE: BRK.B) class B shares gained 0.35% to $128.62 intraday. Called the Baby Berks, because they represent about 1/30th of the legendry Berkshire Hathaway Inc. class A shares (NYSE: BRK.A), the B shares now trade just shy of their 52-week high of $129.73. The reason Berkshire lands on our list is because Andy Chua, from Singapore, just ponied up $2,166,766.00 for a one-hour lunch with the company's iconic Chief Executive Officer (CEO), Warren Buffett. It was the highest bid ever paid for the noon-time meal with Buffett in the history of his 15th annual charity auction.
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