Top Midday Gainers
KalVista Pharmaceuticals (KALV) and Chiesi Group said Wednesday they have entered into a definitive agreement through which Chiesi will acquire KalVista for $27 per share in cash, or about $1.9 billion. The deal is expected to close in Q3, they said.Shares surged 39% as intraday trading volume rose to over 48.2 million, from a daily average of roughly 984,000.Silicon Motion Technology (SIMO) reported a year-over-year surge in Q1 non-GAAP earnings and sales late Tuesday, beating market expectations.Shares soared 31% as intraday trading volume jumped to over 2.66 million from a daily average of about 623,000.Bloom Energy (BE) reported Q1 adjusted earnings late Tuesday of $0.44 per diluted share, up from $0.03 a year earlier. Analysts polled by FactSet expected $0.12. The company's revenue also handily beat the analysts' forecast.Shares jumped 22% as intraday trading volume surged to over 13.8 million from a daily average of about 10.8 million.Price: $26.71, Change: $+7.47, Percent Change: +38.80%