Somnigroup International Stock (NYSE: SGI)

Somnigroup International (NYSE:SGI) Stock

Somnigroup International

Somnigroup International Inc. Common Stock

Somnigroup International Inc is a bedding company, dedicated to improving people's lives through better sleep. With superior capabilities in design, manufacturing, distribution and retail, It delivers breakthrough sleep solutions and serves the evolving needs of consumers in more than 100 countries worldwide through its fully-owned businesses, Tempur Sealy, Mattress Firm and Dreams. The company's portfolio includes the most highly recognized brands in the industry, including Tempur-Pedic, Sealy and Stearns & Foster, and its Multinational omnichannel platform enables the company to meet consumers wherever shop, offering a personal connection and innovation to provide a unique retail experience and tailored solutions.

Silicon Graphics Intl

Silicon Graphics International Corp

Earnings

Education

Trading Ideas

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Vetr Upgrades Hewlett Packard To 4.5 Stars

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Truist Securities analyst Keith Hughes maintains Somnigroup International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGI#NYSE">SGI</a>) with a Buy and raises the price target from $72 to $75.

News

Price Target

Truist Securities Maintains Buy on Somnigroup International, Raises Price Target to $75

Financial Guidance
For the full year&nbsp;2025, the Company currently expects adjusted EPS(1) between $2.60 to $3.00 which, at the midpoint, represents a 10 percent increase from the prior year. This contemplates the Company's current sales outlook, which includes approximately 11 months of expected Mattress Firm operations, net of intercompany sales, and the previously announced divestiture.
The Company noted that its expectations are based on information available at the time of this release, and are subject to changing conditions and risks, many of which are outside the Company's control. The Company is unable to provide forward–looking EPS&nbsp;guidance for 2025 and for long-term guidance described below and the applicable reconciliation to adjusted EPS, without unreasonable efforts, because the Company is currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact EPS in the future.
Long-Term Perspective
Company Chairman and CEO Scott Thompson commented, "Let me conclude by taking a step back to share longer-term perspectives. We have seen our markets performing below their historical trend line of growth and, despite this, our execution has led to adjusted earnings per share growth. We believe 2025 will benefit from continued execution and the Mattress Firm transaction. Looking beyond this year, we are planning for markets to return to growth, while simultaneously realizing incremental benefits from the Mattress Firm transaction and continued industry leading execution. We are internally targeting sales to grow at a compound annual rate of mid single digits starting in 2026. This indicates Somnigroup adjusted EPS(1) would increase from the $2.80 mid-point for 2025 to approximately $4.85 by 2028, a compounded annual growth rate of 20%."

Guidance

Somnigroup Expects 2025 Adjusted EPS Of Between $2.60 To $3.00 Versus Consensus Of $2.87

Dividends

Somnigroup Increased The Quarterly Cash Dividend By 15% To $0.15 Per Share, Payable On March 20, To Shareholders Of Record At The Close Of Business On March 6

Somnigroup International Inc. Common Stock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGI#NYSE">SGI</a>) reported quarterly earnings of $0.60 per share which beat the analyst consensus estimate of $0.56 by 7.14 percent. This is a 13.21 percent increase over earnings of $0.53 per share from the same period last year. The company reported quarterly sales of $1.21 billion which beat the analyst consensus estimate of $1.18 billion by 2.20 percent. This is a 3.20 percent increase over sales of $1.17 billion the same period last year.

Somnigroup International Q4 2024 Adj EPS $0.60 Beats $0.56 Estimate, Sales $1.21B Beat $1.18B Estimate

SGI (NASDAQ: <a class="ticker" href="/stock/sgi#NASDAQ">SGI</a>) announced today that the United States Department of Defense (DoD) has selected SGI&reg; ICE&trade; XA for two of its Army Research Laboratory Defense Supercomputing Resource Center (ARL DSRC) systems. The upgrades are part of a technology insertion, known as TI-16, for their High Performance Computing Modernization Program (HPCMP).

	&nbsp;
<div>
	The agreement for ARL DSRC system #1 values at $8.9 million, and ARL DSRC system #2 at $17.6 million.</div>
<div>
	&nbsp;</div>
<div>
	SGI was also awarded four annual maintenance options over the next four years, allowing DoD to leverage its world-class professional services available 24/7. The work for both systems will be performed at Aberdeen Proving Ground, Maryland, with an estimated completion date of April 24, 2021. Army Corps of Engineers, Huntsville, Alabama, has been delegated contracting authority for these agreements.</div>

Contracts

SGI Awarded $27M Systems Contract with the Army Research Laboratory Defense Supercomputing Resource Center

Earnings season provides some of the biggest trading catalysts of the year for a number of stocks, but earnings per share (EPS) is not as important for some stocks as it is for others.

	According to <a href="https://www.bespokepremium.com/">Bespoke Wealth Management</a>&#39;s head portfolio manager Paul Hickey, after earnings volatility, traders should look to the technology sector.

	&ldquo;Historically, Technology stocks have seen the most volatile reaction to earnings with an average daily move of +/- 7.23 percent in the first full session following their earnings release,&rdquo; Hickey told Benzinga.

	The <a href="http://www.benzinga.com/trading-ideas/long-ideas/16/09/8497921/a-new-possibly-better-way-to-play-consumer-discretionary-stoc">consumer discretionary sector</a> is the second most-volatile sector with an average move of 6.25 percent.

	Hickey said traders looking to avoid earnings volatility should consider utilities (2.23 percent) and financials (3.56 percent), which have historically demonstrated the least volatile reactions to earnings.

	For certain stocks, earnings are the least of the market&rsquo;s concerns. Growth investors often instead look for metrics such as same-store-sales, subscriber growth or forward revenue guidance.

	Hickey added that determining which stocks have more important metrics than earnings requires case-by-case analysis.

	&ldquo;It is to a degree a function of the individual stock than the sector &mdash; growth/high valuation stocks react more to growth metrics than stodgy low-growth stocks like Utilities,&rdquo; Hickey told Benzinga. &ldquo;In many cases, these growth stocks tend to be found in the Tech, Consumer Discretionary, and Health Care sector, but examples can really be found across all the major sectors.&rdquo;

	For traders looking for the most earnings action in upcoming quarters, Bespoke has found the following 10 stocks have the <a href="https://www.bespokepremium.com/think-big-blog/bespokes-list-of-the-most-volatile-stocks-on-earnings/">most volatile</a> reactions to their quarterly earnings reports. Stocks are listed along with their average one-day post-earnings move.
<ul>
<li>
<ol>
<li>
				Groupon Inc (NASDAQ: <a class="ticker" href="/stock/grpn#NASDAQ">GRPN</a>): 17.7 percent.</li>
<li>
				The Rubicon Project Inc (NYSE: <a class="ticker" href="/stock/rubi#NYSE">RUBI</a>): 17.0 percent.</li>
<li>
				RetailMeNot Inc (NASDAQ: <a class="ticker" href="/stock/sale#NASDAQ">SALE</a>): 16.1 percent.</li>
<li>
				Silicon Graphics International Corp (NASDAQ: <a class="ticker" href="/stock/sgi#NASDAQ">SGI</a>): 16.0 percent.</li>
<li>
				ChannelAdvisor Corp (NYSE: <a class="ticker" href="/stock/ecom#NYSE">ECOM</a>): 15.8 percent.</li>
<li>
				Yelp Inc (NYSE: <a class="ticker" href="/stock/yelp#NYSE">YELP</a>): 15.5 percent.</li>
<li>
				Vince Holding Corp (NYSE: <a class="ticker" href="/stock/vnce#NYSE">VNCE</a>): 15.5 percent.</li>
<li>
				Silicom Ltd. (NASDAQ: <a class="ticker" href="/stock/silc#NASDAQ">SILC</a>): 15.5 percent.</li>
<li>
				Angie&rsquo;s List Inc (NASDAQ: <a class="ticker" href="/stock/angi#NASDAQ">ANGI</a>): 15.3 percent.</li>
</ol>
</li>
</ul>

Events

Silicon Graphics International Hods A Special Shareholder Mtg Today

The following stocks posted three-day rallies spanning the trading days from September 7 to September 9:
<ul>
<li>
		A Schulman Inc (NASDAQ: <a class="ticker" href="/stock/shlm#NASDAQ">SHLM</a>)</li>
<li>
		Big 5 Sporting Goods Corporation (NASDAQ: <a class="ticker" href="/stock/bgfv#NASDAQ">BGFV</a>)</li>
<li>
		Cathay General Bancorp (NASDAQ: <a class="ticker" href="/stock/caty#NASDAQ">CATY</a>)</li>
<li>
		E*TRADE Financial Corp (NASDAQ: <a class="ticker" href="/stock/etfc#NASDAQ">ETFC</a>)</li>
<li>
		Lendingtree Inc (NASDAQ: <a class="ticker" href="/stock/tree#NASDAQ">TREE</a>)</li>
<li>
		Lexicon Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="/stock/lxrx#NASDAQ">LXRX</a>)</li>
<li>
		Origin Agritech Ltd. (NASDAQ: <a class="ticker" href="/stock/seed#NASDAQ">SEED</a>)</li>
<li>
		Silicon Graphics International Corp (NASDAQ: <a class="ticker" href="/stock/sgi#NASDAQ">SGI</a>)</li>
<li>
		Wynn Resorts, Limited (NASDAQ: <a class="ticker" href="/stock/wynn#NASDAQ">WYNN</a>)</li>
<li>
		Live Oak Bancshares Inc (NASDAQ: <a class="ticker" href="/stock/lob#NASDAQ">LOB</a>)</li>
</ul>

Hewlett Packard Enterprise Co (NYSE: <a class="ticker" href="/stock/hpe#NYSE">HPE</a>) shares are trading up just over 10 percent over the past month entering Friday&rsquo;s open, and the Vetr community has upgraded the company from 4 to 4.5 stars. Hewlett Packard acquired Silicon Graphics International Corp (NASDAQ: <a class="ticker" href="/stock/sgi#NASDAQ">SGI</a>) in early August.

	<a href="http://vetr.com">See how crowd sourced ratings can help predict the market?</a>

	Vetr members have given Hewlett Packard a Strong Buy rating and a $25.52 price target. This price target is higher than the $19.97 price target from Wall Street analysts. The company opened Friday around $21.80.

	Of all Vetr raters, 46.2 percent believe Hewlett Packard shareholders should sell the stock.

	For Vetr&rsquo;s full analysis of Hewlett Packard, go <a href="https://www.vetr.com/research/NYSE:HPE">here.</a>

&nbsp;

	Toward the end of trading Friday, the Dow traded down 0.37 percent to 18,543.87 while the NASDAQ declined 0.16 percent to 5,219.95. The S&amp;P also fell, dropping 0.25 percent to 2,180.30.

	Leading and Lagging Sectors
	Friday afternoon, the energy sector proved to be a source of strength for the market. Leading the sector was strength from Delek US Holdings, Inc. (NYSE: <a class="ticker" href="/stock/dk#NYSE">DK</a>) and Approach Resources Inc. (NASDAQ: <a class="ticker" href="/stock/arex#NASDAQ">AREX</a>).
	In trading on Friday, basic materials shares slipped by 1.5 percent. Meanwhile, top losers in the sector included Handy &amp; Harman Ltd (NASDAQ: <a class="ticker" href="/stock/hnh#NASDAQ">HNH</a>), down 8 percent, and Kraton Performance Polymers Inc (NYSE: <a class="ticker" href="/stock/kra#NYSE">KRA</a>), down 8 percent.

	Top Headline

	J C Penney Company Inc (NYSE: <a class="ticker" href="/stock/jcp#NYSE">JCP</a>) reported a narrower-than-expected loss for the second quarter and reaffirmed its outlook for the full year 2016.

	The departmental retailer delivered a 52 percent improvement in net loss to $56 million or a loss per share $0.18. On an adjusted basis, EPS improved 88 percent to a loss per share of $0.05 compared to a loss per share of $0.40 last year. Street estimate was for a loss of $0.15 a share.

	J C Penney recorded 1.5 percent growth in total net sales from $2.875 billion to $2.918 billion in the second quarter thus missing analysts&#39; predictions of $2.93 billion marginally. Comparable sales advanced 2.2 percent.

	 
	Equities Trading UP
	 Silicon Graphics International Corp (NASDAQ: <a class="ticker" href="/stock/sgi#NASDAQ">SGI</a>) shares shot up 29 percent to $7.69 after Hewlett Packard Enterprise Co (NYSE: <a class="ticker" href="/stock/hpe#NYSE">HPE</a>) announced plans to acquire the company for around $275 million.

	Shares of Acacia Communications, Inc. (NASDAQ: <a class="ticker" href="/stock/acia#NASDAQ">ACIA</a>) got a boost, shooting up 33 percent to $89.76 following Q2 results. Acacia Communications reported quarterly non-GAAP earnings of $0.77 per share on revenue of $116.2 million. The company expects Q3 non-GAAP earnings of $0.64 to $0.76 per share, on revenue of $120 million to $128 million.

	Sunrun Inc (NASDAQ: <a class="ticker" href="/stock/run#NASDAQ">RUN</a>) shares were also up, gaining 13 percent to $6.09 as the company posted strong Q2 results.

	 
	Equities Trading DOWN
	 Ocean Rig UDW Inc. (NASDAQ: <a class="ticker" href="/stock/orig#NASDAQ">ORIG</a>) shares dropped 58 percent to $0.902. Ocean Rig reported Q2 EPS $1.83 versus estimates of $0.72. Sales were $452.6 million versus estimates of $376.45 million. During the call, Chairman and CEO George Economou assured the company will focus on de-leveraging and maintaining liquidity, amidst &ldquo;extremely negative&rdquo; market conditions.

	Shares of Concordia International Corp (NASDAQ: <a class="ticker" href="/stock/cxrx#NASDAQ">CXRX</a>) were down 34 percent to $10.82 as the company announced second quarter earnings that missed the estimates. Aside from that, the company slashed its forecast for the full year and suspended dividend.

	Ruby Tuesday, Inc. (NYSE: <a class="ticker" href="/stock/rt#NYSE">RT</a>) was down, falling around 13 percent to $3.25 as the company posted weaker-than-expected earnings for its fourth quarter and announced plans to close around 95 underperforming restaurants.

	 
	Commodities

	 
	In commodity news, oil traded up 2 percent to $45.10 while gold traded down 0.52 percent to $1,343.00.
	Silver traded down 1.45 percent Friday to $19.73, while copper fell 2.05 percent to $2.16.

	Eurozone
	European shares closed mostly lower today. The eurozone&rsquo;s STOXX 600 dropped 0.16 percent, the Spanish Ibex Index declined 0.04 percent, while Italy&rsquo;s FTSE MIB Index gained 0.17 percent. Meanwhile the German DAX dropped 0.27 percent, and the French CAC 40 slipped 0.08 percent, while U.K. shares rose 0.02 percent.

	Economics

	The Producer Price Index declined 0.4 percent for July, versus economists&rsquo; expectations for a 0.1 percent growth.

	U.S. retail sales came in flat for July, versus economists&rsquo; expectations for a 0.4 percent gain.

	U.S. business inventories rose 0.2 percent for June, versus economists&rsquo; expectations for a 0.10 percent gain.

	The University of Michigan&#39;s consumer sentiment index rose to 90.40 in August, versus a prior reading of 90.00. However, economists were expecting a reading of 91.50.

Eurozone

Commodities

Global

Intraday Update

ACIA

AREX

CXRX

ORIG

Mid-Afternoon Market Update: Crude Oil Up 2%; Ruby Tuesday Shares Drop Following Weak Results

&nbsp;
<ul>
<li>
		Acacia Communications, Inc. (NASDAQ: <a class="ticker" href="/stock/acia#NASDAQ">ACIA</a>) surged 32.5 percent to $89.72 following Q2 results. Acacia Communications reported quarterly non-GAAP earnings of $0.77 per share on revenue of $116.2 million. The company expects Q3 non-GAAP earnings of $0.64 to $0.76 per share, on revenue of $120 million to $128 million.</li>
<li>
		NovaBay Pharmaceuticals, Inc. (NYSE: <a class="ticker" href="/stock/nby#NYSE">NBY</a>) shares climbed 30.4 percent to $3.20 following Q2 results. NovaBay Pharma reported a Q2 loss of $0.36 per share on revenue of $2.7 million.</li>
<li>
		Silicon Graphics International Corp (NASDAQ: <a class="ticker" href="/stock/sgi#NASDAQ">SGI</a>) shares climbed 28.8 percent to $7.70 after Hewlett Packard Enterprise Co (NYSE: <a class="ticker" href="/stock/hpe#NYSE">HPE</a>) announced plans to acquire the company for around $275 million.</li>
<li>
		Sunrun Inc (NASDAQ: <a class="ticker" href="/stock/run#NASDAQ">RUN</a>) shares climbed 17.4 percent to $6.35 as the company posted strong Q2 results.</li>
<li>
		Cosi Inc (NASDAQ: <a class="ticker" href="/stock/cosi#NASDAQ">COSI</a>) gained 16.7 percent to $0.262 following Q2 results. Cosi reported a Q2 loss of $0.07 per share on revenue of $22.8 million.</li>
<li>
		AveXis Inc (NASDAQ: <a class="ticker" href="/stock/avxs#NASDAQ">AVXS</a>) shares surged 14.6 percent to $39.87. AveXis posted a narrower-than-expected Q2 loss. Jefferies upgraded AveXis from Hold to Buy.</li>
<li>
		Eleven Biotherapeutics Inc (NASDAQ: <a class="ticker" href="/stock/ebio#NASDAQ">EBIO</a>) shares jumped 13.1 percent to $4.56. Eleven Biotherapeutics reported a Q2 loss of $0.33 per share on revenue of $0.3 million and issued a strategic update.</li>
<li>
		Cinedigm Corp (NASDAQ: <a class="ticker" href="/stock/cidm#NASDAQ">CIDM</a>) rose 12.2 percent to $2.12. Cinedigm is expected to report Q1 financial results on Monday, August 15, 2016.</li>
<li>
		InvenSense Inc (NYSE: <a class="ticker" href="/stock/invn#NYSE">INVN</a>) gained 12.1 percent to $7.62. Pacific Crest upgraded InvenSense from Sector Weight to Overweight.</li>
<li>
		Planet Fitness Inc (NYSE: <a class="ticker" href="/stock/plnt#NYSE">PLNT</a>) shares climbed 10.1 percent to $22.39 as the company posted upbeat earnings for its second quarter on Thursday. The company raised FY 2016 revenue guidance to $366 million to $372 million, from $360 million to $370 million.</li>
<li>
		Ocular Therapeutix Inc (NASDAQ: <a class="ticker" href="/stock/ocul#NASDAQ">OCUL</a>) shares surged 10 percent to $6.93 after gaining 7.88 percent on Thursday.</li>
<li>
		Itron, Inc. (NYSE: <a class="ticker" href="/stock/itri#NYSE">ITRI</a>) shares gained 9.1 percent to $47.65. Itron posted upbeat quarterly results.</li>
<li>
		Delek US Holdings, Inc. (NYSE: <a class="ticker" href="/stock/dk#NYSE">DK</a>) shares gained 8.9 percent to $16.22. CVR Energy, Inc. is said to be planning to make an offer to acquire Delek US, according to sources as reported by the NY Post on Thursday. Carl Icahn owns a controlling stake in CVR and it thought to be building a stake in Delek, the sources said.</li>
<li>
		Nordstrom, Inc. (NYSE: <a class="ticker" href="/stock/jwn#NYSE">JWN</a>) shares surged 8.8 percent to $51.73 as the company reported better-than-expected earnings for its second quarter.</li>
<li>
		Mistras Group Inc (NYSE: <a class="ticker" href="/stock/mg#NYSE">MG</a>) rose 7.6 percent to $24.55. Baird upgraded MISTRAS Group from Neutral to Outperform.</li>
<li>
		CVR Energy, Inc. (NYSE: <a class="ticker" href="/stock/cvi#NYSE">CVI</a>) gained 4.5 percent to $14.33. CVR Energy is said to be planning to make an offer to acquire Delek US, according to sources as reported by the NY Post on Thursday.</li>
<li>
		NVIDIA Corporation (NASDAQ: <a class="ticker" href="/stock/nvda#NASDAQ">NVDA</a>) shares rose 3.8 percent to $61.99 as the company reported stronger-than-expected Q2 results after market close on Thursday. NVIDIA saw Q3 revenues at $1.68 billion plus or minus 2 percent vs. estimates of $1.45. Additionally, management forecasted Q3 non-GAAP gross margins to be 58.0 percent.</li>
<li>
		J C Penney Company Inc (NYSE: <a class="ticker" href="/stock/jcp#NYSE">JCP</a>) rose 3.7 percent to $10.31 as the company reported a narrower-than-expected loss for the second quarter and reaffirmed its outlook for the full year 2016.</li>
</ul>

AVXS

CIDM

COSI

EBIO

INVN

ITRI

NVDA

OCUL

PLNT

18 Biggest Mid-Day Gainers For Friday

Midway through trading Friday, the Dow traded down 0.18 percent to 18,580.61 while the NASDAQ declined 0.05 percent to 5,225.54. The S&amp;P also fell, dropping 0.07 percent to 2,184.25.

	Leading and Lagging Sectors
	On Friday, the energy sector proved to be a source of strength for the market. Leading the sector was strength from Delek US Holdings, Inc. (NYSE: <a class="ticker" href="/stock/dk#NYSE">DK</a>) and Chesapeake Granite Wash Trust (NYSE: <a class="ticker" href="/stock/chkr#NYSE">CHKR</a>).
	In trading on Friday, basic materials shares slipped by 0.70 percent. Meanwhile, top losers in the sector included Handy &amp; Harman Ltd (NASDAQ: <a class="ticker" href="/stock/hnh#NASDAQ">HNH</a>), down 8 percent, and Kraton Performance Polymers Inc (NYSE: <a class="ticker" href="/stock/kra#NYSE">KRA</a>), down 5 percent.

	Top Headline

	J C Penney Company Inc (NYSE: <a class="ticker" href="/stock/jcp#NYSE">JCP</a>) reported a narrower-than-expected loss for the second quarter and reaffirmed its outlook for the full year 2016.

	The departmental retailer delivered a 52 percent improvement in net loss to $56 million or a loss per share $0.18. On an adjusted basis, EPS improved 88 percent to a loss per share of $0.05 compared to a loss per share of $0.40 last year. Street estimate was for a loss of $0.15 a share.

	J C Penney recorded 1.5 percent growth in total net sales from $2.875 billion to $2.918 billion in the second quarter thus missing analysts&#39; predictions of $2.93 billion marginally. Comparable sales advanced 2.2 percent.

	 
	Equities Trading UP
	 Silicon Graphics International Corp (NASDAQ: <a class="ticker" href="/stock/sgi#NASDAQ">SGI</a>) shares shot up 29 percent to $7.69 after Hewlett Packard Enterprise Co (NYSE: <a class="ticker" href="/stock/hpe#NYSE">HPE</a>) announced plans to acquire the company for around $275 million.

	Shares of Acacia Communications, Inc. (NASDAQ: <a class="ticker" href="/stock/acia#NASDAQ">ACIA</a>) got a boost, shooting up 35 percent to $91.39 following Q2 results. Acacia Communications reported quarterly non-GAAP earnings of $0.77 per share on revenue of $116.2 million. The company expects Q3 non-GAAP earnings of $0.64 to $0.76 per share, on revenue of $120 million to $128 million.

	Sunrun Inc (NASDAQ: <a class="ticker" href="/stock/run#NASDAQ">RUN</a>) shares were also up, gaining 18 percent to $6.41 as the company posted strong Q2 results.

	 
	Equities Trading DOWN
	 Ocean Rig UDW Inc. (NASDAQ: <a class="ticker" href="/stock/orig#NASDAQ">ORIG</a>) shares dropped 54 percent to $1.00. Ocean Rig reported Q2 EPS $1.83 versus estimates of $0.72. Sales were $452.6 million versus estimates of $376.45 million. During the call, Chairman and CEO George Economou assured the company will focus on de-leveraging and maintaining liquidity, amidst &quot;extremely negative&quot; market conditions.

	Shares of Concordia International Corp (NASDAQ: <a class="ticker" href="/stock/cxrx#NASDAQ">CXRX</a>) were down 27 percent to $11.97 as the company announced second quarter earnings that missed the estimates. Aside from that, the company slashed its forecast for the full year and suspended dividend.

	Xtera Communications Inc (NASDAQ: <a class="ticker" href="/stock/xcom#NASDAQ">XCOM</a>) was down, falling around 24 percent to $0.860. Xtera Communications reported a Q3 loss of $1.35 per share on revenue of $5.3 million.

	 
	Commodities

	 
	In commodity news, oil traded up 2.12 percent to $44.41 while gold traded up 0.56 percent to $1,357.60.
	Silver traded up 0.67 percent Friday to $20.16, while copper fell 1.75 percent to $2.16.

	Eurozone
	European shares were mostly lower today. The eurozone&#39;s STOXX 600 dropped 0.13 percent, the Spanish Ibex Index declined 0.07 percent, while Italy&#39;s FTSE MIB Index gained 0.15 percent. Meanwhile the German DAX dropped 0.26 percent, and the French CAC 40 slipped 0.04 percent, while U.K. shares rose 0.02 percent.

	Economics

	The Producer Price Index declined 0.4 percent for July, versus economists&#39; expectations for a 0.1 percent growth.

	U.S. retail sales came in flat for July, versus economists&#39; expectations for a 0.4 percent gain.

	U.S. business inventories rose 0.2 percent for June, versus economists&#39; expectations for a 0.10 percent gain.

	The University of Michigan&#39;s consumer sentiment index rose to 90.40 in August, versus a prior reading of 90.00. However, economists were expecting a reading of 91.50.

CHKR

XCOM

Mid-Day Market Update: Silicon Graphics Surges Following Acquisition News; Ocean Rig Shares Tumble

&nbsp;

	Following the market opening Friday, the Dow traded down 0.12 percent to 18,591.40 while the NASDAQ declined 0.13 percent to 5,221.40. The S&amp;P also fell, dropping 0.14 percent to 2,182.85.

	Leading and Lagging Sectors
	Friday morning, the energy sector proved to be a source of strength for the market. Leading the sector was strength from Delek US Holdings, Inc. (NYSE: <a class="ticker" href="/stock/dk#NYSE">DK</a>) and CVR Energy, Inc. (NYSE: <a class="ticker" href="/stock/cvi#NYSE">CVI</a>).
	In trading on Friday, healthcare shares slipped by 0.38 percent. Meanwhile, top losers in the sector included Genomic Health, Inc. (NASDAQ: <a class="ticker" href="/stock/ghdx#NASDAQ">GHDX</a>), down 3 percent, and IRIDEX Corporation (NASDAQ: <a class="ticker" href="/stock/irix#NASDAQ">IRIX</a>), down 2 percent.

	Top Headline

	J C Penney Company Inc (NYSE: <a class="ticker" href="/stock/jcp#NYSE">JCP</a>) reported a narrower-than-expected loss for the second quarter and reaffirmed its outlook for the full year 2016.

	The departmental retailer delivered a 52 percent improvement in net loss to $56 million or a loss per share $0.18. On an adjusted basis, EPS improved 88 percent to a loss per share of $0.05 compared to a loss per share of $0.40 last year. Street estimate was for a loss of $0.15 a share.

	J C Penney recorded 1.5 percent growth in total net sales from $2.875 billion to $2.918 billion in the second quarter thus missing analysts&#39; predictions of $2.93 billion marginally. Comparable sales advanced 2.2 percent.

	 
	Equities Trading UP
	 Silicon Graphics International Corp (NASDAQ: <a class="ticker" href="/stock/sgi#NASDAQ">SGI</a>) shares shot up 29 percent to $7.69 after Hewlett Packard Enterprise Co (NYSE: <a class="ticker" href="/stock/hpe#NYSE">HPE</a>) announced plans to acquire the company for around $275 million.

	Shares of Acacia Communications, Inc. (NASDAQ: <a class="ticker" href="/stock/acia#NASDAQ">ACIA</a>) got a boost, shooting up 26 percent to $85.28 following Q2 results. Acacia Communications reported quarterly non-GAAP earnings of $0.77 per share on revenue of $116.2 million. The company expects Q3 non-GAAP earnings of $0.64 to $0.76 per share, on revenue of $120 million to $128 million.

	NovaBay Pharmaceuticals, Inc. (NYSE: <a class="ticker" href="/stock/nby#NYSE">NBY</a>) shares were also up, gaining 39 percent to $3.40 following Q2 results. NovaBay Pharma reported a Q2 loss of $0.36 per share on revenue of $2.7 million.

	 
	Equities Trading DOWN
	 Ocean Rig UDW Inc. (NASDAQ: <a class="ticker" href="/stock/orig#NASDAQ">ORIG</a>) shares dropped 55 percent to $0.970. Ocean Rig reported Q2 EPS $1.83 versus estimates of $0.72. Sales were $452.6 million versus estimates of $376.45 million. During the call, Chairman and CEO George Economou assured the company will focus on de-leveraging and maintaining liquidity, amidst &ldquo;extremely negative&rdquo; market conditions.

	Shares of Concordia International Corp (NASDAQ: <a class="ticker" href="/stock/cxrx#NASDAQ">CXRX</a>) were down 25 percent to $12.32 as the company announced second quarter earnings that missed the estimates. Aside from that, the company slashed its forecast for the full year and suspended dividend.

	Xtera Communications Inc (NASDAQ: <a class="ticker" href="/stock/xcom#NASDAQ">XCOM</a>) was down, falling around 15 percent to $0.960. Xtera Communications reported a Q3 loss of $1.35 per share on revenue of $5.3 million.

	 
	Commodities

	 
	In commodity news, oil traded up 0.87 percent to $43.87 while gold traded up 0.59 percent to $1,357.90.
	Silver traded up 0.70 percent Friday to $20.16, while copper fell 1.39 percent to $2.17.

	Eurozone
	European shares were mostly lower today. The eurozone&rsquo;s STOXX 600 dropped 0.21 percent, the Spanish Ibex Index declined 0.07 percent, while Italy&rsquo;s FTSE MIB Index gained 0.08 percent. Meanwhile the German DAX dropped 0.32 percent, and the French CAC 40 slipped 0.09 percent, while U.K. shares fell 0.17 percent.

	Economics

	The Producer Price Index declined 0.4 percent for July, versus economists&rsquo; expectations for a 0.1 percent growth.

	U.S. retail sales came in flat for July, versus economists&rsquo; expectations for a 0.4 percent gain.

	U.S. business inventories rose 0.2 percent for June, versus economists&rsquo; expectations for a 0.10 percent gain.

	The University of Michigan&#39;s consumer sentiment index rose to 90.40 in August, versus a prior reading of 90.00. However, economists were expecting a reading of 91.50.

	The Baker Hughes North American rig count report for the recent week will be released at 1:00 p.m. ET.

GHDX

IRIX

Mid-Morning Market Update: Markets Open Lower; J C Penney Posts Narrower Q2 Loss

&nbsp;
<ul>
<li>
		Morgan Stanley downgraded SunPower Corporation (NASDAQ: <a class="ticker" href="/stock/spwr#NASDAQ">SPWR</a>) from Sector Overweight to Equal-weight. The price target for SunPower has been lowered from $27 to $12. SunPower shares dropped 1.13 percent to $10.51 in pre-market trading.</li>
<li>
		Analysts at Macquarie downgraded Macy&#39;s Inc (NYSE: <a class="ticker" href="/stock/m#NYSE">M</a>) from Outperform to Neutral. Macy&#39;s shares declined 0.78 percent to $39.50 in pre-market trading.</li>
<li>
		Needham downgraded Silicon Graphics International Corp (NASDAQ: <a class="ticker" href="/stock/sgi#NASDAQ">SGI</a>) from Buy to Hold. Silicon Graphics shares rose 28.60 percent to $7.69 in pre-market trading.</li>
<li>
		Analysts at Dundee downgraded Weyerhaeuser Co (NYSE: <a class="ticker" href="/stock/wy#NYSE">WY</a>) from Buy to Neutral. Weyerhaeuser shares fell 0.76 percent to close at $32.47 on Wednesday.</li>
<li>
		Brean Capital downgraded Pernix Therapeutics Holdings Inc (NASDAQ: <a class="ticker" href="/stock/ptx#NASDAQ">PTX</a>) from Buy to Hold. Pernix Therapeutics shares fell 17.12 percent to $0.630 in pre-market trading.</li>
<li>
		Oppenheimer downgraded Energy Focus Inc (NASDAQ: <a class="ticker" href="/stock/efoi#NASDAQ">EFOI</a>) from Buy to Hold. Energy Focus shares declined 17.24 percent to close at $4.85 on Wednesday.</li>
<li>
		Analysts at DA Davidson downgraded Barracuda Networks Inc (NYSE: <a class="ticker" href="/stock/cuda#NYSE">CUDA</a>) from Neutral to Underperform. The price target for Barracuda Networks has been raised from $17 to $19.50. Barracuda shares rose 0.82 percent to close at $22.08 on Wednesday.</li>
<li>
		Analysts at Raymond James downgraded Sovran Self Storage Inc (NYSE: <a class="ticker" href="/stock/sss#NYSE">SSS</a>) from Outperform to Market Perform. Sovran Self Storage shares slipped 0.59 percent to close at $92.53 on Wednesday.</li>
<li>
		RBC Capital downgraded Teck Resources Ltd (USA) (NYSE: <a class="ticker" href="/stock/tck#NYSE">TCK</a>) from Outperform to Sector Perform. Teck Resources shares dropped 0.91 percent to $16.27 in pre-market trading.</li>
<li>
		Monness Crespi Hardt downgraded Vista Outdoor Inc (NYSE: <a class="ticker" href="/stock/vsto#NYSE">VSTO</a>) from Buy to Neutral. Vista Outdoor shares gained 0.58 percent to $43.00 in pre-market trading.</li>
</ul>

Downgrades

CUDA

EFOI

SPWR

VSTO

Benzinga's Top Downgrades

Needham downgrades Silicon Graphics Intl (NASDAQ: <a class="ticker" href="/stock/sgi#NASDAQ">SGI</a>) from Buy to Hold.

Needham Downgrades Silicon Graphics Intl to Hold

<h3>
	 
	Gainers</h3>
<ul>
<li>
		Silicon Graphics International Corp (NASDAQ: <a class="ticker" href="/stock/sgi#NASDAQ">SGI</a>) rose 28.9 percent to $7.71 after Hewlett Packard Enterprise Co (NYSE: <a class="ticker" href="/stock/hpe#NYSE">HPE</a>) announced plans to acquire the company for around $275 million.</li>
<li>
		Acacia Communications, Inc. (NASDAQ: <a class="ticker" href="/stock/acia#NASDAQ">ACIA</a>) rose 22.6 percent to $83.00 in pre-market trading following Q2 results. Acacia Communications reported quarterly non-GAAP earnings of $0.77 per share on revenue of $116.2 million. The company expects Q3 non-GAAP earnings of $0.64 to $0.76 per share, on revenue of $120 million to $128 million.</li>
<li>
		Delek US Holdings, Inc. (NYSE: <a class="ticker" href="/stock/dk#NYSE">DK</a>) shares rose 17.1 percent to $17.43 in pre-market trading. CVR Energy, Inc. is said to be planning to make an offer to acquire Delek US, according to sources as reported by the NY Post on Thursday. Carl Icahn owns a controlling stake in CVR and it thought to be building a stake in Delek, the sources said.</li>
<li>
		Sunrun Inc (NASDAQ: <a class="ticker" href="/stock/run#NASDAQ">RUN</a>) rose 12.8 percent to $6.10 in pre-market trading as the company posted strong Q2 results.</li>
<li>
		Nordstrom, Inc. (NYSE: <a class="ticker" href="/stock/jwn#NYSE">JWN</a>) shares rose 10.2 percent to $52.40 in pre-market trading as the company reported better-than-expected earnings for its second quarter.</li>
<li>
		SAExploration Holdings, Inc. (NASDAQ: <a class="ticker" href="/stock/saex#NASDAQ">SAEX</a>) shares rose 6.9 percent to $15.49 in pre-market trading after dropping 16.23 percent on Thursday.</li>
<li>
		Eleven Biotherapeutics Inc (NASDAQ: <a class="ticker" href="/stock/ebio#NASDAQ">EBIO</a>) shares rose 6.2 percent to $4.28 in pre-market trading. Eleven Biotherapeutics reported a Q2 loss of $0.33 per share on revenue of $0.3 million and issued a strategic update.</li>
<li>
		CVR Energy, Inc. (NYSE: <a class="ticker" href="/stock/cvi#NYSE">CVI</a>) rose 5.8 percent to $14.51 in pre-market trading. CVR Energy is said to be planning to make an offer to acquire Delek US, according to sources as reported by the NY Post on Thursday.</li>
<li>
		Ocular Therapeutix Inc (NASDAQ: <a class="ticker" href="/stock/ocul#NASDAQ">OCUL</a>) rose 4.8 percent to $6.60 in pre-market trading after gaining 7.88 percent on Thursday.</li>
<li>
		NVIDIA Corporation (NASDAQ: <a class="ticker" href="/stock/nvda#NASDAQ">NVDA</a>) rose 3.9 percent to $62.04 in the pre-market trading session as the company reported stronger-than-expected Q2 results after market close on Thursday. NVIDIA saw Q3 revenues at $1.68 billion plus or minus 2 percent vs. estimates of $1.45. Additionally, management forecasted Q3 non-GAAP gross margins to be 58.0 percent.</li>
<li>
		J C Penney Company Inc (NYSE: <a class="ticker" href="/stock/jcp#NYSE">JCP</a>) rose 3.1 percent to $10.25 in pre-market trading as the company reported a narrower-than-expected loss for the second quarter and reaffirmed its outlook for the full year 2016.</li>
<li>
		Endo International plc (NASDAQ: <a class="ticker" href="/stock/endp#NASDAQ">ENDP</a>) rose 2.5 percent to $23.59 in the pre-market trading session. Endo decided to withdraw its supplemental New Drug Application (sNDA) relating to specific abuse deterrent labeling for OPANA&reg; ER. It also pledged not to refile. The move comes on the heels of a discussion with the FDA on an August 11. Mizuho Securities upgraded Endo from Neutral to Buy.</li>
</ul>

	Find out what&#39;s going on in today&#39;s market and bring any questions you have to <a href="http://premarket.benzinga.com/pre-market-show/">Benzinga&#39;s PreMarket Prep</a>.
<h3>
	Losers</h3>
<ul>
<li>
		Concordia International Corp (NASDAQ: <a class="ticker" href="/stock/cxrx#NASDAQ">CXRX</a>) fell 20.5 percent to $13.00 in pre-market trading as the company announced second quarter earnings that missed the estimates. Aside from that, the company slashed its forecast for the full year and suspended dividend.</li>
<li>
		Voxeljet AG (ADR) (NYSE: <a class="ticker" href="/stock/vjet#NYSE">VJET</a>) shares fell 15.4 percent to $4.19 in the pre-market trading session. voxeljet reported a Q2 loss of EUR 0.46 per share on sales of kEUR 6,296. The company also lowered its full year 2016 revenue outlook.</li>
<li>
		Ruby Tuesday, Inc. (NYSE: <a class="ticker" href="/stock/rt#NYSE">RT</a>) shares fell 11.8 percent to $3.29 in pre-market trading as the company posted weaker-than-expected earnings for its fourth quarter and announced plans to close around 95 underperforming restaurants.</li>
<li>
		Dillard&#39;s, Inc. (NYSE: <a class="ticker" href="/stock/dds#NYSE">DDS</a>) fell 5 percent to $63.10 in pre-market trading. Dillard&#39;s, reported upbeat earnings for its second quarter, but sales missed analysts&rsquo; estimates.</li>
<li>
		B2Gold Corp (NYSE: <a class="ticker" href="/stock/btg#NYSE">BTG</a>) shares fell 3.2 percent to $3.38 in pre-market trading. B2Gold reported at-the-market offering of up to US$100 million.</li>
<li>
		Cypress Semiconductor Corporation (NASDAQ: <a class="ticker" href="/stock/cy#NASDAQ">CY</a>) shares fell 3 percent to $10.60 in pre-market trading after dropping 3.53 percent on Thursday.</li>
</ul>

Movers & Shakers

Pre-Market Outlook

ENDP

SAEX

VJET

18 Stocks Moving In Friday's Pre-Market Session

&nbsp;

	Pre-open movers

	U.S. stock futures traded slightly higher in early pre-market trade, ahead of earnings from J C Penney Company Inc (NYSE: <a class="ticker" href="/stock/jcp#NYSE">JCP</a>). The Producer Price Index for July and retail sales report for July will be released at 8:30 a.m. ET. Data on business inventories for June and the University of Michigan&#39;s consumer sentiment index for August will be released at 10:00 a.m. ET.

	Futures for the Dow Jones Industrial Average rose 6 points to 18,572.00, while the Standard &amp; Poor&rsquo;s 500 index futures gained 0.50 points to 2,182.50. Futures for the Nasdaq 100 index rose 1 point to 4,801.00.

	Oil prices traded lower as Brent crude futures declined 0.33 percent to trade at $45.89 per barrel, while US WTI crude futures also fell 0.14 percent to trade at $44.17 a barrel.

	 
	A Peek Into Global Markets

	European markets were mostly lower today, with the Spanish Ibex Index rising 0.01 percent, STOXX Europe 600 Index gaining 0.01 percent and German DAX 30 index dropping 0.17 percent. The UK&#39;s FTSE index was trading lower by 0.02 percent, while French CAC 40 Index declined 0.11 percent. The eurozone&rsquo;s economy grew 0.3 percent in the second quarter, while Germany&#39;s economy grew at a 0.4 percent pace in the quarter.

	In Asian markets, Japan&rsquo;s Nikkei Stock Average gained 1.10 percent, Hong Kong&rsquo;s Hang Seng Index rose 0.83 percent, China&rsquo;s Shanghai Composite Index climbed 1.60 percent and India&rsquo;s BSE Sensex rose 1.05 percent.

	Broker Recommendation

	Analysts at Macquarie upgraded Alibaba Group Holding Ltd (NYSE: <a class="ticker" href="/stock/baba#NYSE">BABA</a>) from Neutral to Outperform.

	Alibaba shares rose 1.33 percent to $92.99 in pre-market trading.

	 
	Breaking news 
<ul>
	
<li>
		NVIDIA Corporation (NASDAQ: <a class="ticker" href="/stock/nvda#NASDAQ">NVDA</a>) reported stronger-than-expected Q2 results after market close on Thursday. To read the full news, <a href="http://www.benzinga.com/news/earnings/16/08/8341169/nvidia-beats-earnings-and-revenue-estimates-uplifting-forecasts">click here. </a></li>
<li>
		Endo International plc (NASDAQ: <a class="ticker" href="/stock/endp#NASDAQ">ENDP</a>) decided to withdraw its supplemental New Drug Application (sNDA) relating to specific abuse deterrent labeling for OPANA&reg; ER. It also pledged not to refile. The move comes on the heels of a discussion with the FDA on an August 11. To read the full news, <a href="http://www.benzinga.com/general/biotech/16/08/8343165/endo-withdraws-its-snda-for-opana-shares-rise">click here.</a></li>
<li>
		Hewlett Packard Enterprise Co (NYSE: <a class="ticker" href="/stock/hpe#NYSE">HPE</a>) announced plans to acquire Silicon Graphics International Corp (NASDAQ: <a class="ticker" href="/stock/sgi#NASDAQ">SGI</a>) for around $275 million.</li>
<li>
		Applied Industrial Technologies (NYSE: <a class="ticker" href="/stock/ait#NYSE">AIT</a>) released its fourth quarter earnings, which was in line with the Street estimates. However, sales and outlook fell shy of the expectations. To read the full news, <a href="http://www.benzinga.com/news/earnings/16/08/8343065/applied-industrial-tech-q4-sales-fy17-outlook-disappoint">click here.</a></li>

</ul>

Futures

BABA

A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of J C Penney Earnings

&nbsp;

	 
	Some of the stocks that may grab investor focus today are:
<ul>
<li>
		Wall Street expects J C Penney Company Inc (NYSE: <a class="ticker" href="/stock/jcp#NYSE">JCP</a>) to report a quarterly loss at $0.15 per share on revenue of $2.93 billion before the opening bell. J C Penney shares gained 3.72 percent to $10.31 in after-hours trading.</li>
<li>
		Nordstrom, Inc. (NYSE: <a class="ticker" href="/stock/jwn#NYSE">JWN</a>) reported better-than-expected earnings for its second quarter on Thursday. Nordstrom shares surged 10.60 percent to $52.60 in the after-hours trading session.</li>
<li>
		Hewlett Packard Enterprise Co (NYSE: <a class="ticker" href="/stock/hpe#NYSE">HPE</a>) announced plans to acquire Silicon Graphics International Corp (NASDAQ: <a class="ticker" href="/stock/sgi#NASDAQ">SGI</a>) for around $275 million. Silicon Graphics shares climbed 28.76 percent to $7.70 in after-hours trading, while Hewlett Packard Enterprise shares fell 0.05 percent to $21.77 in the after-hours trading session.</li>
<li>
		Analysts are expecting Brookfield Asset Management Inc (NYSE: <a class="ticker" href="/stock/bam#NYSE">BAM</a>) to have earned $0.23 per share on revenue of $4.78 billion in the latest quarter. Brookfield Asset Management will release earnings before the markets open. Brookfield Asset Management shares slipped 0.03 percent to close at $35.32 on Thursday.</li>
</ul>

	Find out what&#39;s going on in today&#39;s market and bring any questions you have to <a href="http://premarket.benzinga.com/pre-market-show/">Benzinga&#39;s PreMarket Prep</a>.
<ul>
<li>
		NVIDIA Corporation (NASDAQ: <a class="ticker" href="/stock/nvda#NASDAQ">NVDA</a>) reported stronger-than-expected Q2 results after market close on Thursday. NVIDIA saw Q3 revenues at $1.68 billion plus or minus 2 percent vs. estimates of $1.45. Additionally, management forecasted Q3 non-GAAP gross margins to be 58.0 percent. NVIDIA shares gained 2.38 percent to $61.12 in the after-hours trading session.</li>
<li>
		Dillard&#39;s, Inc. (NYSE: <a class="ticker" href="/stock/dds#NYSE">DDS</a>) reported upbeat earnings for its second quarter, but sales missed analysts&rsquo; estimates. Dillard&#39;s shares dropped 3.03 percent to $64.40 in the after-hours trading session.</li>
<li>
		Analysts expect Applied Industrial Technologies (NYSE: <a class="ticker" href="/stock/ait#NYSE">AIT</a>) to report its quarterly earnings at $0.66 per share on revenue of $643.13 million before the opening bell. Applied Industrial Technologies shares gained 0.21 percent to close at $48.19 on Thursday.</li>
<li>
		Planet Fitness Inc (NYSE: <a class="ticker" href="/stock/plnt#NYSE">PLNT</a>) posted upbeat earnings for its second quarter on Thursday. The company raised FY 2016 revenue guidance to $366 million to $372 million, from $360 million to $370 million. Planet Fitness shares gained 3.05 percent to $20.95 in the after-hours trading session.</li>
<li>
		Ruby Tuesday, Inc. (NYSE: <a class="ticker" href="/stock/rt#NYSE">RT</a>) posted weaker-than-expected earnings for its fourth quarter and announced plans to close around 95 underperforming restaurants. Ruby Tuesday shares dropped 6.43 percent to $3.49 in the after-hours trading session.</li>
</ul>

10 Stocks You Should Be Watching Today

The following are the M&amp;A deals, rumors and chatter circulating on Wall Street for Thursday August 11, 2016:

	&nbsp;

	Chatter of VF Corp Interest in Hanesbrand The Rumor: 
	Shares of Hanesbrands (NYSE: <a class="ticker" href="/stock/hbi#NYSE">HBI</a>) rose Thursday, on unconfirmed market chatter tha VF Corp (NYSE: <a class="ticker" href="/stock/vfc#NYSE">VFC</a>) could bid $36 per share for the underwear maker. FBR Analyst Susan Anderson told Benzinga such a deal has a&quot;low probability&quot; of happening.

	Hanesbrands closed Thursday at $27.265 up 3.30%.

	&nbsp;

	Kraft Heinz Said to be Preparing Bid for Kellogg

	The Rumor: 
	Shares of Kellogg (NYSE: <a class="ticker" href="/stock/k#NYSE">K</a>) traded as high as $84.28 on Thursday, as renewed unconfirmed market chatter circulated of a potential bid from Kraft Heinz (NASDAQ: <a class="ticker" href="/stock/khc#NASDAQ">KHC</a>). &quot;Sources&quot; said Kraft could offer as much as $105 per share for the Battle Creek, MI cereal maker. Kellogg has been rumored to have received interest from Coca-Cola (NYSE: <a class="ticker" href="/stock/ko#NYSE">KO</a>), in addition to Kraft.

	Kellogg closed at $83.46 on Thursday, up $0.50.

	&nbsp;

	Hewlett Packard Enterprise to Acquire SGI fpr $7.75/Share in Cash

	The Deal: 
	Hewlett Packard Enterprise (NYSE: <a class="ticker" href="/stock/hpe#NYSE">HPE</a>) announced Thursday, that it has signed a definitive agreement to acquire SGI (NASDAQ: <a class="ticker" href="/stock/sgi#NASDAQ">SGI</a>) for $7.75 per share in cash, for a transaction valued at approximately $275 million, net of cash and debt. The transaction is expected to close in Q1 of HPE&#39;s FY 2017.

	SGI closed at $5.98 on Thursday, and traded as high as $7.85 after-hours.

	&nbsp;

	Carl Icahn Said the be Preparing Offer to Acquire Delek Holdings

	The Rumor: 
	CVR (NYSE: <a class="ticker" href="/stock/cvi#NYSE">CVI</a>) is said to be planning to make an offer to acquire Delek US Holdings (NYSE: <a class="ticker" href="/stock/dk#NYSE">DK</a>), according to sources as reported by the NY Post on Thursday. Carl Icahn owns a controlling stake in CVR and it thought to be building a stake in Delek, the sources said.

	An earlier rumor mentioned Icahn taking a large stake in Wynn Resorts (NASDAQ: <a class="ticker" href="/stock/wynn#NASDAQ">WYNN</a>), but a source familiar with the matter, told Benzinga Icahn has no interest in buying a Vegas casino.

	Delek closed at $14.89 on Thursday and traded as high as $18.30, after-hours.

Rumors

Hedge Funds

Insider Trades

Benzinga's M&A Chatter for Thursday August 11, 2016

SGI Reports Q4 Adj. EPS $0.08 vs $0.01 Est., Sales $123M vs $120.7M Est.

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Flexsteel Industries

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Hooker Furnishings

Leggett & Platt, Incorporated Common Stock

Leggett & Platt

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