Market Focus

Niagara Financial Group

Reports that first Niagara Financial Group is exploring a sale sent its shares higher. The bank has reportedly hired J.P. Morgan to advise the firm on a possible sale of the firm. It’s also looking into other opportunities. The company has a market value of around $3 billion with nearly 400 branches. Shares soared, up 14.5 percent to $10.26.

Biomed Realty Trust

Biomed Realty Trust, which is a REIT focusing on biotechnology companies is also reportedly in talks to sell itself. The firm has attracted interest from Morgan Stanley and has a market value of nearly $4 billion. Shares popped more than 12 percent to $21.54.

Depomed

Depomed announcing it has received a positive patent decision from regulators. The review will clear the way for the company’s infringement lawsuits against rivals including Endo Pharmaceuticals and Perdue Pharma. Shares were off slightly to $24.09.

Heron Therapeutics

Heron Therapeutics saw its shares rise after the company’s experimental drug for pain met the goals of a study. The drug helped lower pain in patients following surgery. Shares jumped nearly 22 percent to $40.81.

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