PHINIA (PHIN) said Tuesday it agreed to acquire Stoba, a maker of high-precision components and systems.
The company said it will fund the acquisition with available liquidity, expanding its precision engineering and manufacturing capabilities.
The transaction is expected to close in Q4, it added.
Price: $82.01, Change: $+0.68, Percent Change: +0.84%
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.