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Small-Cap Snapshot: Systemax stock soars on special dividend

Published: 11:52 10 Dec 2018 EST

shares heading higher

Systemax Inc (NYSE:SYX) stock surged after the company announced a special one-time dividend which investors saw as reflective of its recent strong performance.

The company declared a special one-time cash dividend of $6.50 per share to shareholders of the company's common stock.

The dividend will be payable on January 3, 2019 to shareholders of record as of the close of business on December 24, 2018.

The company is a direct marketer of brand name and private label products.

Its industrial products group segment sells a range of maintenance, repair, and operation products, including storage and shelving, material handling, janitorial and maintenance, furniture and office, HVAC/R and fans, workbench and shop desks among others.

Systemax shares climbed 14.4% to $29.72.

READ: Tivity Health to buy weight management firm NutriSystem Inc in $1.4B deal

In a tale of two companies, shares of weight management company Nutrisystems Inc (NASDAQ:NTRI) soared while those of Tivity Health Inc (NASDAQ:TVTY) tumbled because of a deal involving both outfits.

Tivity is buying Nutrisystems, the developer of popular diet plans, for $1.4 billion in cash and stock, as it tries to expand its presence in the lucrative weight management market.

The shareholders of Nutrisystem will get $38.75 per share in cash and 0.2141 in shares of Tivity Health for each share of Nutrisystem stock, Tivity said.

Nutrisystem designs weight loss plans and provides nutritious meals on order. Some of its popular celebrity endorsers are singer Janet Jackson, Marie Osmond and former US football star Dan Marino.

Shares of Nutrisystem shot up 27.8% to $43.72 on the news.

Tivity stock, on the other hand, dropped around 33% to $27.22.

READ: Axovant Sciences ‘emphasizes reboot’ with gene therapy, says Oppenheimer

MacroGenics Inc (NASDAQ:MGNX) stock slid after the FDA placed a clinical hold on its Phase 1 study for a cancer treatment.

The FDA placed the trials on partial clinical hold, pending review of additional details and satisfactory review of the planned amendments to the study protocols and related documents.

MacroGenics said it will be working closely with the FDA to review these events and seek to resolve the hold.

Shares of MacroGenics fell nearly 30% to $11.60.

Contact Rene Pastor by rene.pastor@proactiveinvestors.com

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