Articles by Daniel Marsh
Ionis Tumbles 9% as Heart Drug Trial Fails to Cut Events
Ionis Pharmaceuticals lost over $870 million in market value after its heart drug pelacarsen failed a Phase 3 trial. Shares fell 9.1% in after-hours trading.
Everpure Surges 2.2% After S&P 500 Inclusion, Adding $723M
Everpure (P) gains 2.2% after hours on S&P 500 promotion, adding $723M. Q2 revenue up 38% but free cash flow turns negative. Index inclusion effective Sept. 21.
Illumina's S&P 500 Comeback Sparks $704M After-Hours Surge
Illumina's return to the S&P 500 triggered a 2.1% after-hours rally, adding $704 million in market cap, but the stock remains pricey versus analyst targets.
Bloom Energy Surges 6.6% on S&P 500 Inclusion, Adding $4.94B
Bloom Energy (BE) jumped 6.6% after hours Friday after S&P DJI announced its inclusion in the S&P 500, adding $4.94B in market value.
Adobe Stock Plunges 6.7% on CEO Succession Announcement
Adobe shares tumbled 6.7% after the company named Anil Chakravarthy as its next CEO, wiping out $7.65 billion in market value. Investors now await Q3 earnings for clarity.
Tarsus Surges 9% as Alkeus Deal Value Climbs to $536M
Tarsus shares rose 9.1% after closing the Alkeus acquisition, boosting the upfront package's market value to $536 million. Key clinical data expected in 2029.
Canada's August Jobs Miss Widens Gap With US Hiring
Canada's August employment fell by 41,700, far worse than expected, while US hiring remained robust, widening the economic gap and pressuring the loonie.
GoPro Surges 24% as Market Decodes Merger Value
GoPro shares jumped 24% as deal math suggests a $5.80 value for the merged company, though investors lack key financials.
AMC Stock Jumps 5% as CEO Escalates Fight Over Robinhood Crypto Tokens
AMC shares jumped 5% after CEO Adam Aron demanded Robinhood halt AMC-linked stock tokens, raising questions about capital raising and investor demand.
Sandisk Stock Soars 10.5% as NAND Pricing Momentum Builds
Sandisk shares surged 10.5% after strong Q4 results and robust NAND pricing. The company's 84.6% gross margin raises questions about sustainability.
Cerebras Surges 12% as Finland Deal Bolsters $51B Valuation
Cerebras Systems shares jumped 12% to $213.26, lifting market value to $50.7B. A Finnish data center contract underpins the high valuation, with delivery and margins key.