Why Valeant, Tesla, Citrix Systems, Ruby Tuesday, and Stellar Biotechnologies Are in the Spotlight

Ruby Tuesday, Inc. (NYSE:RT) popped in after-hours on Monday after the company announced that it will explore strategic alternatives in order to maximize shareholder value. The company’s board will consider all alternatives including a potential sale or merger, and has retained UBS as its financial advisor to assist in the process. Ruby Tuesday also announced preliminary financial results for the third quarter, with same restaurant sales down 4% and total revenue of $225.7 million. 15 elite funds were long Ruby Tuesday, Inc. (NYSE:RT) at the end of the fourth quarter.

Traders are watching Stellar Biotechnologies Inc (NASDAQ:SBOT) after shares of the company moved in after hours on Monday. According to Reuters, Stellar and Matrivax have signed an agreement for transferring vaccine know-how and technology. In return for transferring the vaccine tech, Stellar ‘will receive an upfront fee from Matrivax as well as a percentage of certain fees, milestone payments, sublicensing income and royalties that are paid by Matrivax to the University of Guelph in consideration of the license granted to Matrivax under the patent rights’. No elite funds that we track were long Stellar Biotechnologies Inc (NASDAQ:SBOT) at the end of December. It is unclear what the financial impact of the deal will be.

Citrix Systems, Inc. (NASDAQ:CTXS) is on many watch-lists after Bloomberg reported that the company is working with various advisers, including Goldman Sachs, on a possible sale. Although PE firms would be a natural fit, Citrix’s sizable valuation may make it harder to get a deal through the finish line. 35 elite funds were long Citrix Systems, Inc. (NASDAQ:CTXS) at the end of December, down 3 funds from the previous quarter.

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