Stock Trading Alert : Stocks in News (AFFY, CPO, ACGY)

Affymax Inc. (NASDAQ: AFFY) and Takeda Global Research & Development Center Inc. today announced that Phase 3 trials for Hematide, a drug for treatment of anemia in patients with chronic renal failure, met primary endpoints. However, the data showed certain patients had a higher percentage of heart-related side effects after taking the experimental anemia treatment.

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Following the announcement, shares of Affymax Inc. plummeted in early trading today. The stock was down 64.47% to $8.19, at last check. The stock has a 52-week range of $8.10-$26.20. It has a 50-day moving average of $22.96 and a 200-day moving average of $22.22.

Palo Alto, California-based Affymax Inc. is a biopharmaceutical company. The company is involved in the development of drugs to improve the treatment of serious and life-threatening conditions.

Corn Products International Inc. (NYSE: CPO) today announced that it has entered into a definitive agreement to acquire National Starch for $1.3 billion in an all cash deal. National Starch is a New Jersey-based global provider of specialty starches.

Shares of Corn Products International Inc. are down in early trading today. The stock opened at $35 and reached a high of $35.23. It was down 9.10% to $31.65, at last check. The stock has a 52-week range of $24.15-$37.62. It has a 50-day moving average of $34.25 and a 200-day moving average of $31.27.

Westchester, Illinois-based Corn Products International Inc. is involved in the manufacturing and selling of a number of ingredients to a variety of food and industrial customers.

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Acergy S.A. (ADR) (NASDAQ: ACGY) today announced that it will acquire Subsea 7 for $5.4 billion in an all stock deal. The two companies estimate annual savings of $100 million from the acquisition.

Acergy’s ADRs soared in early trading today. They opened at $17.43 and reached a high of $17.49. They were up 9.59% to $17.26, at last check. Acergy ADRs have a 52-week range of $8.60-$20.55. The ADRs have a 50-day moving average of $16.73 and a 200-day moving average of $15.39.

London-based Acergy S.A. provides seabed-to-surface engineering and construction contracting services to the offshore oil and gas industry.

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