Apple, Circor, Palo Alto stocks climb, Epam, Mallinckrodt shares tumble and other stocks on the move

By Wallace Witkowski and Tomi Kilgore

Apple's stock rises into record territory, Tesla shares head for 7th-straight gain

Here are some bigger movers Monday, as the U.S. stock market, appeared poised for a muted start to the new week.

Stock gainers:

Circor International Inc.'s stock (CIR) rocketed 50% in morning trading after the flow-control-products company announced a deal to be acquired by KKR & Co. in a cash deal valued at $1.6 billion, including debt. KKR shares (KKR) edged up 0.1%.

Shares of Apple Inc. (AAPL) rose 1.5% toward a record close ahead of the technology behemoth's developer's event, WWDC, in which the company is expected to preview a mixed-reality headset.

Tesla Inc.'s stock (TSLA) rose 2.5% toward a seven-month high and a seventh-straight gain, which would be the longest in two months, even after the electric-vehicle giant recalled 137 Model Y vehicles due to risks of a loss of steering control.

Amedisys Inc. shares (AMED) shot up 14% after the at-home healthcare services company said it received a $100-per-share cash buyout bid from UnitedHealth Group Inc.'s Optum division, which Amedisys believes could be a "superior" proposal to the merger deal already agreed on with Option Care Health Inc. in early May. Option Care's stock (OPCH) jumped 6.5%.

Day One Biopharmaceuticals Inc. shares (DAWN) powered up 12% after the company shared new data on tovorafenib, an investigational treatment for relapsed or progressive pediatric low-grade glioma.

Shares of Palo Alto Networks Inc. (PANW) rose more than 3% after S&P Dow Jones Indices promoted the $66 billion cybersecurity company to the S&P 500 index in a series of quarterly index adjustments to account for market cap

Stock decliners:

Shares of Epam Systems Inc. (EPAM) tumbled 17% to pace all decliners in the S&P 500 index the engineering software company cut its profit and revenue outlook, citing "further deterioration" in near-term demand.

Mallinckrodt PLC's stock (MNK) plunged 25% after the drug maker disclosed that certain debt holders proposed another bankruptcy filing given the company's financial position, ahead of a $200 million payment due as part of the company's opioid settlement.

Bellerophon Therapeutics Inc.'s stock (BLPH) plummeted 85% after the biotherapeutics company said its lung-disease treatment failed to meet its primary endpoint in a Phase 3 "Rebuild" study.

Shares of Gannett Inc. (GCI) fell 12% and of Zumiez Inc. (ZUMZ) slumped 11% on their scheduled removal from the small cap index.

-- Barbara Kollmeyer contributed to this report

-Wallace Witkowski

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06-05-23 1102ET

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