DryShips, Transocean, Clementia, and More: Here’s Why These Stocks Are in the Spotlight

Clementia Pharmaceuticals Inc. (NASDAQ:CMTA) is trending after the company announced a proposed public offering of common shares. The company which focuses on ultra-rare bone disorders and other diseases, intends to offer and sell, subject to market conditions, $50 million of common shares in an underwritten public offering. Morgan Stanley and Leerink Partners are the book runners. Eleven elite funds that we track owned over 180 million dollars worth of Clementia Pharmaceuticals Inc. (NASDAQ:CMTA) at the end of June.

Speaking about the capital markets, EnerSys (NYSE:ENS) is in the spotlight after the company agreed to buy Alpha Technologies group for $750 million. Management has already identified $25 million in run-rate synergies, and believes the purchase will expand EnerSys’ total addressable market to over $20 billion. In terms of its specifics, Alpha generated $591 million in sales for the last twelve months ended June 30, with 11% adjusted EBITDA margin. The transaction enterprise value would be hence around 11.1x Alpha’s LTM adjusted EBITDA. EnerSys (NYSE:ENS) was slightly in the red on Monday before the news.

Akamai Technologies Inc. (NASDAQ:AKAM) shares have surged almost 9% in after hours after the company reported strong third quarter results. Adjusted EPS came in at $0.94 (versus estimates of $0.83) while sales came in at $669.63 million, up 7.2% year over year, and $5.37 million ahead of the consensus. In more good news, the company’s board  authorized a multi-year $1.1 billion share repurchase program in addition to the $124 million remaining in the board’s prior authorization. AKAM’s results were especially notable in terms of its cloud security solutions group, which grew 37% to around $700 million in terms of annualized run rate. In terms of smart money sentiment, the total number of elite funds in Akamai Technologies Inc. (NASDAQ:AKAM) held steady at 28 from Q1 to Q2.

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