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DexCom Dispels Rumor of Active Merger Talks as Insulet Stock Drops

“Active conversations” about a merger are not presently taking place between DexCom Inc. (DXCM), 7.28 percent, and the S&P 500 (SPX, -1.27 percent), the diabetes care firm said in a statement. 

DexCom’s stock (NASDAQ: DXCM) has fallen precipitously over the last week and closed on Thursday at a two-year low after Bloomberg reported that DexCom was discussing purchasing insulin infusion device producer Insulet Corp. 

During premarket trading, Insulet’s stock price fell by 10.7 percent. We usually do not comment on rumors or conjecture. Still, because of recent prolonged media and market speculation, as well as the upcoming American Diabetes Association conference, we want to reaffirm that Dexcom is not currently engaged in negotiations considering a merger transaction.”

Shares of Houston American Energy Corp. soared 43% to $5.38 on Tuesday after the firm announced that it had purchased an additional stake in Hupecol Meta LLC, a subsidiary of Hupeco Inc.

A total of 639,000 gross acres in Colombia’s Llanos Basin are owned by Hupecol Meta, which operates the 69,128-acre Venus Exploration area and has farmed out the other 570,277 acres to Parex Resources at a 50 percent share each.

More than a thousand square kilometers of the CPO-11 block have been identified as potential leads and prospects for a multi-well drilling campaign.

Houston American stated it now has an 11 percent stake in the Venus Exploration area and a 5.5 percent stake in the rest of the block as a result of its participation in Hupecol Meta. According to Houston American, drilling has begun on the company’s first well in the Venus Exploration area. Friday’s trading session saw Houston American’s share price rise by 16 percent.

The post DexCom Dispels Rumor of Active Merger Talks as Insulet Stock Drops appeared first on Best Stocks.

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