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Eloxx Pharmaceuticals, Inc. (NASDAQ:ELOX) 48% LOWER; announced topline results from the Phase 2 clinical trial of ELX-02 in combination with ivacaftor in Class 1 cystic fibrosis (CF) patients with at least one nonsense mutation. The combination trial of ELX-02 with ivacaftor was well tolerated but did not achieve statistical significance for efficacy endpoints, including changes from baseline in sweat chloride concentration (SCC) and percent forced expiratory volume (FEV1).
Ironnet Inc (NYSE:IRNT) 44% LOWER; reported Q2 EPS of ($0.28), $0.07 worse than the analyst estimate of ($0.21). Revenue for the quarter came in at $6.61 million versus the consensus estimate of $7.55 million. Downgraded to ‘Sell’ at Jefferies and BTIG.
Store Capital Corp (NYSE:STOR) 21% HIGHER; STOR and GIC, a global institutional investor in partnership with Oak Street, a Division of Blue Owl, one of the largest net lease investors, today announced that they have entered into a definitive agreement under which GIC and funds managed by Oak Street will acquire STORE Capital in an all-cash transaction valued at approximately $14 billion.
IDEAYA Biosciences, Inc. (Nasdaq: NASDAQ:IDYA) 13% LOWER; announced that it intends to offer and sell up to $80.0 million of shares of its common stock in an underwritten public offering.
Adobe (NASDAQ:ADBE) 12% LOWER; announced it has entered into a definitive merger agreement to acquire Figma, a leading web-first collaborative design platform, for approximately $20 billion in cash and stock. The combination of Adobe and Figma will usher in a new era of collaborative creativity. Adobe also reported Q3 EPS of $3.40, better than the analyst estimate of $3.33. Revenue for the quarter came in at $4.43 billion versus the consensus estimate of $4.43 billion. Adobe Systems sees Q4 2023 EPS of $3.50, versus the consensus of $3.45. Adobe Systems sees Q4 2023 revenue of $4.52 billion, versus the consensus of $4.58 billion.
Rhythm Pharmaceuticals (NASDAQ:RYTM), 11% LOWER; announced a proposed public offering of $100 million of shares of its common stock.
Arconic Corp (NYSE:ARNC) 10% LOWER; lowers full-year outlook.
Danaher Corporation (NYSE:DHR) 4% HIGHER; Announced its intention to separate its Environmental & Applied Solutions segment to create an independent, publicly traded company. The new company will be comprised of Danaher’s Water Quality and Product Identification businesses and will be referred to as “EAS” until it is named at a later date. The transaction is intended to be tax-free to Danaher shareholders and expected to be completed in the fourth quarter of 2023.
Gap Inc (NYSE:GPS), 4% LOWER; Kanye West Notifies Gap He Is Terminating Partnership – DJ
NextEra Energy (NYSE:NEE) 4% LOWER; announced today that it intends to sell $2.0 billion of equity units. Each equity unit will be issued in a stated amount of $50. Each equity unit will consist of a contract to purchase NextEra Energy common stock in the future and a 5% undivided beneficial ownership interest in a NextEra Energy Capital Holdings, Inc. debenture due Sept. 1, 2027, to be issued in the principal amount of $1,000. The debentures will be guaranteed by NextEra Energy Capital Holdings’ parent company, NextEra Energy, Inc.
APA Corporation (NASDAQ:APA) 4% HIGHER; declared a quarterly dividend of $0.25 per share, or $1 annualized. This is a 100% increase from the prior dividend of $0.125. The board of directors also approved a further 40 million shares of additional share repurchase authorization.
Norfolk Southern (NYSE:NSC) 1% HIGHER; Rail stocks rise as ‘tentative’ deal reached to avoid national rail strike
CSX Corporation (NASDAQ:CSX) 1% HIGHER; Rail stocks rise as ‘tentative’ deal reached to avoid national rail strike
Fisker Inc (NYSE:FSR) 1% HIGHER; new Buy rating at Needham & Company.
Bumble Inc (NASDAQ:BMBL) 1% HIGHER; Stifel initiates coverage with a Buy rating.
