Morning Buzz: Aerie Pharmaceuticals (AERI), Cablevision Systems (CVC), Oracle (ORCL), Expedia (EXPE)

Wall Street

Shares of drug developer Aerie Pharmaceuticals, Inc. (AERI) are spiking more than 97% ahead of the bell on news of successful results of its experimental drug Rhopressa, a novel once-daily, triple-action eye drop being tested for its ability to lower intraocular pressure (IOP) in patients with glaucoma or ocular hypertension. Aerie said the trial achieved its primary efficacy endpoint demonstrating non-inferiority of Rhopressa compared to timolol, the most widely used comparator.

Shares of Cablevision Systems Corporation (CVC) are higher by 16% to $33.11 in pre-market trading on Thursday following this morning’s announcement of deal to be acquired by Altice NV (ATCEY) for $34.90 in cash, or $17.7 billion. The merger will create the fourth-largest cable provider in the U.S.

Oracle Corporation (ORCL) dropped $1.12 to $37.15 in pre-market trading after it reported its Q1/16 earnings results after the market close on Wednesday.

In its quarterly report, the software development company said it earned $0.53 per share, above the $0.52 per share analysts were expecting. Revenue fell 1.7% to $8.45 billion, below views for $8.53 billion.

Oracle said fiscal 1st-quarter net income, which fell to $1.75 billion, or $0.40 per share on a yoy basis, weighed down by the greenback and greater expenses.

Oracle shares currently prints a one year loss of about 6% and a year-to-date loss of around 14%.

Shares of Expedia Inc. (EXPE) were up slightly this morning on news the company won the approval of the U.S. Justice Department to buy rival online travel service Orbitz Worldwide, Inc. The government did not require Expedia to sell any assets in exchange for approval noting the co.’s $1.3 billion acquisition of Orbitz is unlikely to hurt competition.

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