Morning Market Movers

Telik TELK shares rose 30.40% to $1.63 after the company and MabVax Therapeutics entered into a definitive merger agreement. Halozyme Therapeutics HALO jumped 19.41% to $8.98 after the company reported a Q1 loss of $0.22 per share and reported that the Data Monitoring Committee now supported enrollment in its PEGPH20 study. Gold Resource GORO shares jumped 16.48% to $4.10 after the company reported Q1 earnings of $0.13 per share. Rackspace Hosting RAX shares gained 13.35% to $31.21 after the company reported better-than-expected first-quarter earnings. Rackspace reported its quarterly earnings of $0.18 per share on revenue of $421 million. Origin Agritech SEED jumped 8.78% to $2.23 after the company announced the receipt of acquisition proposal for $2.50 per share. Sunshine Heart SSH shares surged 7.01% to $5.95 after the company reported narrower-than-expected quarterly loss. Keurig Green Mountain GMCR climbed 5.91% to $117.25 as Coca Cola KO raised its stake in the company to 16%. Plug Power PLUG shares jumped 4.13% to $4.06 as the company announced its plans to present at the Wedbush Annual Conference. McKesson MCK rose 3.79% to $180.84 after the company reported upbeat fiscal fourth-quarter results. McKesson posted its adjusted earnings of $2.55 a share, beating analysts' estimates of $2.39 per share.