Surmodics, Inc. - Common Stock (SRDX)

This week's Deal Dispatch has updates on Raizen, Walgreens, TikTok and Canoo. Plus: the FTC is blocking mergers like it's 2017 again.

Surmodics stock drops 4.76% in premarket trading following news that the FTC will challenge its proposed acquisition by GTCR.

SRDX stock results show that Surmodics beat analyst estimates for earnings per share and beat on revenue for the third quarter of 2024.

Surmodics stock hit a two-year high on its GPCR takeover, but Merck stock was little moved on its EyeBio deal.

Surmodics will be acquired by GTCR for $43.00 per share, totaling $627 million. This 41.1% premium reflects Surmodics' advancements in surface modification for medical devices and IVD technologies.

The company gained FDA marketing approval for a drug-coated balloon that will help clear blocked arteries.

SRDX stock results show that Surmodics beat analyst estimates for earnings per share and beat on revenue for the second quarter of 2024.

Shares of C.H. Robinson Worldwide, Inc. (NASDAQ: CHRW) fell sharply during Thursday’s session after the company reported worse-than-expected fourth-quarter financial results.

Companies Reporting Before The Bell • ING Groep (NYSE:ING) is expected to report earnings for its fourth quarter. • Shell (NYSE:SHEL) is likely to report quarterly earnings at $1.81 per share on revenue of $75.66 billion.

Companies Reporting Before The Bell • Flex LNG (NYSE:FLNG) is estimated to report earnings for its third quarter.