Olin (OLN) shares were down 5.8% in Tuesday afternoon trading after BofA Securities downgraded the stock to underperform from buy and lowered the price target to $21 from $32.
Trading volume stood at about 2 million shares, compared with a daily average of nearly 2.6 million.
Price: $19.62, Change: $-1.20, Percent Change: -5.76%
Genmab (GMAB) said that a Phase 3 study of epcoritamab combined with lenalidomide met its primary objective, helping adults with relapsed or refractory diffuse large B-cell lymphoma stay progression-free longer than those receiving standard therapy.The regimen cut the risk of disease progression or death by 60% under US censoring rules and 56% under censoring rules used outside the US, with both results statistically significant, Genmab said Monday in a statement.Genmab said the safety profile was consistent with what's known for each drug. The company and its partner, AbbVie (ABBV), plan to discuss the findings with global regulators.The ongoing Phase 3 trial is enrolling adults who received at least one prior systemic therapy and were not eligible for stem-cell transplant or CAR-T treatment.Genmab shares rose 2.2% in after-hours trading, and AbbVie eased 0.2%.
Mama's Creations (MAMA) said late Monday it has commenced a proposed, underwritten public offering of its common stock.The company said it plans to grant the underwriters a 30-day option to buy up to an additional 15% of the shares offered.It intends to use the offering net proceeds for working capital and general corporate purposes, the company added.Shares of Mama's Creations were down more than 10% in after-hours activity.
Concentrix (CNXC) reported fiscal Q2 non-GAAP net income late Monday of $2.63 per diluted share, down from $2.70 a year earlier.Four analysts polled by FactSet expected $2.64.Revenue in the three months ended May 31 rose to $2.46 billion from $2.42 billion a year earlier.Four analysts expected $2.47 billion.Concentrix expects fiscal Q3 non-GAAP EPS of $2.65 to $2.77 on revenue of $2.47 billion to $2.49 billion.Four analysts project EPS of $3.09 on revenue of $2.53 billion.The company lowered full-year EPS guidance to $10.83 to $11.18 on revenue of $9.93 billion to $10.03 billion. The previous forecast pegged EPS at $11.48 to $12.07 on revenue of $10.04 billion to $10.18 billion.Four analysts expect EPS of $11.71 on revenue of $10.11 billion.Concentrix shares fell 26% in after-hours trading.The company maintained its quarterly dividend of $0.36 a share, payable Aug. 4, to stockholders of record July 24.