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Enphase Energy Inc ENPH stock was trading higher by more than 30 percent early Wednesday morning in reaction to an acquisition announcement. The global energy technology company agreed to acquire SunPower Corporation SPWR's microinverter business for $25 million in cash and 7.5 million shares of Enphase common stock. The transaction also adds 140 new patents to Enphase's IP portfolio.
Sprint Corp S was trading higher by more than 2 percent, likely in reaction to Tuesday's court decision that favors AT&T Inc. T's acquisition of Time Warner Inc TWX. According to Fierce Wireless, Tuesday's merger ruling could be seen as a "positive sign" for Sprint's potential merger with T-Mobile Us Inc TMUS.
WSI Industries, Inc. WSCI was trading higher by more than 10 percent in reaction to a top-and-bottom-line earnings beat. The company reported it made 16 cents per share in the fiscal third quarter on revenue of $9.79 million versus expectations of a 6-cent per share loss and $9.594 million.
Sharing Economy International Inc SEII was trading higher by more than 20 percent. The China-based company that targets the global sharing economy markets said one of its wholly-owned subsidiary entered into a licensing agreement with Ecrent Capital to establish a website platform in North Korea.
Can Fite Biofarma Ltd CANF was trading higher by nearly 20 percent. Analysts at H.C. Wainwright initiated coverage of the biotechnology company that treats inflammatory and liver diseases with a Buy rating and $8 price target, which implies notable upside from Tuesday's closing price of $1.30.
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