By Sam Boughedda
Investing.com -- U.S. indices are trading positively Wednesday, with the Nasdaq the biggest mover around lunchtime at +1.45%. Here are the midday movers on Wednesday, April 13th.
Sierra Oncology Inc (NASDAQ:SRRA) jumped 38% after agreeing to be bought by GlaxoSmithKline (NYSE:GSK) for $1.9 billion. GSK shares are trading 0.15% higher.
Antares Pharma Inc (NASDAQ:ATRS) stock surged 49% after agreeing to be bought by Halozyme Therapeutics Inc (NASDAQ:HALO) for $960 million, or $5.60 per share, in cash.
Delta Air Lines Inc (NYSE:DAL) stock trades 4.5% above Tuesday's close after its earnings and revenue beat analyst expectations, benefitting from the travel bounce back. Other airline stocks have also rallied, with American Airlines Group (NASDAQ:AAL) climbing over 10%.
AbbVie Inc (NYSE:ABBV) stock declined 4.6% after it was announced Vice Chairman and President Michael Severino will be leaving the company on May 31. In a filing it was stated Severino will be joining a "bioplatform innovation company as CEO-Partner and as CEO of one of its companies."
PayPal Holdings Inc (NASDAQ:PYPL) stock fell 3.8% after it was revealed Tuesday evening that CFO John Rainey is to depart and join Walmart (NYSE:WMT). Morgan Stanley said Rainey's departure "may be perceived as negative signaling."
Charles Schwab Corp (NYSE:SCHW) is now up over 3% after Morgan Stanley named the company a "top pick," adding that its "stark underperformance" is a surprise and reflects a disconnect from the fundamentals.