August 10, 2022

Fior Markets News Blog

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GameStop, Seagen, Virgin Galactic, and more

GameStop, Seagen, Virgin Galactic, and more

Check out the companies making headlines before the bell:

Jim Stop (GME) — GameStop rose 7.8% in the primary market after the video game retailer announced a 4-for-1 stock split. Trading on a hash rate basis will begin July 22.

sign (SGEN) — Seagen gained 4.5% in pre-market trading after The Wall Street Journal reported that merck (MRK) is in advanced talks to acquire the biotech company for more than $200 a share, or about $40 billion.

Virgo Galaxy (SPCE) — The space tourism company’s stock rose 3.7% in pre-market activity, after announcing a partnership with a Boeing (BA) to build mother ships that carry Virgin missile ships aloft.

Meridian Bioscience (VIVO) — The maker of diagnostic test kits has agreed to be purchased by a consortium consisting of Korean diagnostics firm SD Biosensor and Korean private equity firm SJL Partners for $34 per share in cash, or about $1.5 billion.

bed bath behind (BBBY) — Bed Bath & Beyond jumped 6% in the primary market after revealing several insider purchases. Interim CEO Sue Goff bought 50,000 shares of the home appliance retailer’s stock, while board members Harriet Edelman and Jeff Kirwan bought 10,000 shares.

Boston Bear (SAM) — Boston Beer’s rating was downgraded to “segment performer” from “outstanding” at RBC Capital Markets, which expects Sam Adams Beer brewery and Truly hard seltzer to cut volume guidance again.

Helen of Troy (HELE) — The health care and cosmetic company reported adjusted quarterly profit of $2.41 per share, topping the consensus estimate of $2.16, with revenue also exceeding analysts’ expectations. However, the company did note a slowdown in demand in some of its categories, as consumers shifted spending patterns to deal with inflation, and lowered its full-year forecast. The stock fell 6.7% in the primary market.

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China EV Makers – Shares of electric car makers in China rose after government officials said they would consider extending a tax credit for electric car buyers. Lee Otto (LI) rose 1% in supermarkets, with New (NIO) by 1.5% and Exping (XPEV) jumped 3.3%.