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Market Movers Today: Proteostasis Therapeutics Inc (PTI), BlueLinx Holdings Inc. (BXC), Athersys, Inc. (ATHX), United States Steel Corporation (X), and More

Proteostasis Therapeutics Inc (NASDAQ:PTI) (MarketWatch)
Shares of Proteostasis Therapeutics Inc. PTI, +49.03% rocketed 70% toward an 11-month high in very active morning trade Tuesday, after the biopharmaceutical company said it cystic fibrosis treatment was granted Breakthrough Therapy Designation (BTD) by the Food and Drug Administration. Volume topped 14 million shares, compared with the full-day average over the past 30 days of about 780,000 shares, according to FactSet. The BTD helps expedite the development and review of a drug aimed at treating a serious or life-threatening disease where there is a significant unmet need.

BlueLinx Holdings Inc. (NYSE:BXC) (The Motley Fool)
What happened: Shares of BlueLinx Holdings Inc. (NYSE: BXC) jumped on Tuesday, rising more than 18% at 10:45 a.m. EDT, after the company agreed to buy privately held Cedar Creek. So what: BlueLinx Holdings announced that it agreed to acquire Cedar Creek from Charlesbank Capital Partners for $413 million, which includes $345 million in cash and $68 million in value from capital leases. Cedar Creek, which is a leading building-product wholesale distributor, will enhance BlueLinx’s product offerings, capabilities, and geographic reach.

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Athersys, Inc. (NASDAQ:ATHX) (Benzinga)
Athersys, Inc. rose 14.7 percent to $1.79 after biotechnology company that focuses on regenerative medicine received an equity investment. The company said it received a $21 million equity investment at $1.76 per share from Healios K.K. as part of a plan to significantly expanding their existing development and commercialization collaboration.

United States Steel Corporation (NYSE:X) (CNBC)
U.S. Steel – The steelmaker raised its full-year earnings forecast, citing President Trump’s imposition of tariffs on imported steel and aluminum. The company now expects earnings of $885 million for this year, compared to its prior forecast of $685 million.

DSW Inc. (NYSE:DSW) (MarketWatch)
Shares of DSW Inc. DSW, +10.51% shot up 9.5% in midday trade, in the wake of fiscal fourth-quarter results and an upbeat revenue outlook, a dividend hike and announced plans to exit Ebuys. The stock had initially dropped as much as 5.1% in premarket trade after the results were released, as profit beat while revenue missed, some investors may have misinterpreted the 2018 revenue growth guidance. CEO Roger Rawlins said on the post-earnings conference call that 2018 total revenue is expected “to increase in the 2% to 4% range,” according to a transcript provided by FactSet.

General Electric Company (NYSE:GE) (The Motley Fool)
What happened: General Electric (NYSE: GE) stock has been a market whipping boy for more than a year, and its stock is down 55% since the beginning of 2017. GE received another kick to the gut this morning when analysts at investment bank JPMorgan tagged the stock with what is (for now) the most pessimistic price target on Wall Street. This sent GE stock down 5% in early trading. It’s still down 4.1% as of 12:15 p.m. EDT.

Advaxis, Inc. (NASDAQ:ADXS) (Benzinga)
Advaxis, Inc. dipped 17.2 percent to $1.83. Advaxis reported a Q1 loss of $0.49 per share and announced a clinical hold in axalimogene filolisbac Phase 1/2 combination study with AstraZeneca’s IMFINZI.

Hawaiian Holdings, Inc. (NASDAQ:HA) (CNBC)
Hawaiian Holdings – The company raised its current quarter outlook for revenue per available seat mile, a key metric for airline companies. Hawaiian Holdings is the parent of Hawaiian Airlines.

Last night, President Donald Trump blocked the deal between Qualcomm, Inc. (NASDAQ:QCOM) and Broadcom Ltd (NASDAQ:AVGO). So for now there is no hope of that to be rekindled. This is a deal that has been in the works for months and was supposed to be the largest technology deal of all time. But since the reason given was an order of National Security then it’s likely that the Qualcomm/Broadcom deal is dead for good. Qualcomm stock is falling hard on the news, and therein lies my opportunity. The upside of this news is that QCOM may go back to traiding fundamentals instead of headlines. And that is something I can quantify and bet against.