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Rapid7 Shares Fall After JPMorgan Downgrade

Rapid7 (RPD) shares fell 2% in Tuesday trading after JPMorgan downgraded the stock to underweight from neutral.Intraday volume topped 1.66 million shares, compared with the daily average of 2.45 million.Price: $12.54, Change: $-0.25, Percent Change: -1.95%

$RPD

Wire7d ago

Guardant Health Could Benefit From AstraZeneca Trial Failure, UBS Says

Guardant Health (GH) stands to benefit from AstraZeneca's (AZN) failed Serena-4 trial because the result preserves the biomarker-driven monitoring approach supporting potential demand for its Guardant360 test, UBS Securities said.The investment firm said AstraZeneca's phase III Serena-4 trial testing camizestrant plus palbociclib as upfront first-line treatment for HR-positive/HER2-negative advanced breast cancer missed statistical significance for progression-free survival versus anastrozole plus palbociclib, despite a numerical improvement.UBS said a positive result would have reduced the need to monitor patients for ESR1 mutations to determine camizestrant eligibility. Instead, the failure preserves the approach established by the earlier Serena-6 trial, under which patients are monitored during first-line therapy and switched to camizestrant once an ESR1 mutation emerges but before radiographic progression.AstraZeneca said the outcome reinforces the importance of ESR1 testing, according to the note Monday.The analysts said this supports a broader companion-diagnostic case for Guardant360 and represents potential volume and revenue upside to their model.UBS has a buy rating on the stock, with a $225 price target.Shares of Guardant Health were up 5.6% in Tuesday trading.Price: $177.18, Change: $+9.34, Percent Change: +5.56%

$AZN$GH

Wire7d ago

West Fraser Timber Shares Rise After Raymond James Upgrade

West Fraser Timber (WFG) shares were up over 2% in Tuesday trading after Raymond James upgraded the stock to outperform from market perform.Trading volume stood at more than 257,000 shares, compared with a daily average of about 215,000.Price: $72.13, Change: $+1.59, Percent Change: +2.25%

$WFG

Wire7d ago

Scholar Rock Shares Fall After Barclays Downgrade

Scholar Rock (SRRK) shares were down about 5.2% in Tuesday trading after Barclays downgraded the stock to equalweight from overweight and raised its price target to $58 from $55.Intraday trading volume stood at nearly 3.5 million shares against a daily average of roughly 1.4 million.Price: $49.16, Change: $-2.69, Percent Change: -5.19%

$SRRK

Wire7d ago

Middleby Shares Rise After Upgrade From JPMorgan

Middleby's (MIDD) shares were up more than 2% in Tuesday trading after JPMorgan upgraded the company's stock to overweight from neutral and raised its price target to $147 from $141.Trading volume exceeded 429,000 shares, compared with a daily average of over 698,000.Price: $112.23, Change: $+2.51, Percent Change: +2.28%

$MIDD

Wire7d ago

Cardiff Oncology Shares Rise After Upgrade From HC Wainwright

Cardiff Oncology (CRDF) shares were up more than 3% in afternoon trading on Tuesday after HC Wainwright upgraded the company's stock to buy from neutral.Trading volume stood at more than 2.7 million shares against a daily average of about 1.2 million.Price: $1.35, Change: $+0.04, Percent Change: +3.05%

$CRDF

Wire7d ago

Pentair Shares Rise After Wolfe Research Upgrade

Pentair (PNR) shares were up over 1% in Tuesday trading after Wolfe Research upgraded the stock to outperform from peer perform, with a price target of $91.Trading volume stood at more than 1.6 million shares, compared with a daily average of about 3.3 million.Price: $56.90, Change: $+0.72, Percent Change: +1.27%

$PNR

Wire7d ago

Scholar Rock Faces Early Isembyld Launch Friction From FDA Safety Requirements, Truist Says

Scholar Rock (SRRK) could face some friction during the early commercialization of Isembyld after the drugmaker clarified that the US Food and Drug Administration has required a post-marketing pregnancy safety study and requested 15-day reports for serious and non-serious fracture cases, Truist Securities said in a note Tuesday.The FDA recently approved Isembyld to treat spinal muscular atrophy in adults and children two years of age and older.The fracture rate observed in the Isembyld trial appears consistent with historical rates in patients with spinal muscular atrophy, while management reported no change in bone mineral density in the Phase 2 EMBRACE study, Truist said.The brokerage expects fracture reports to be reflected in periodic FDA Adverse Event Reporting System updates, as Scholar Rock does not expect to announce individual new fracture cases.Truist continues to see potential for Isembyld to reach peak sales of $2.3 billion.Truist maintained a buy rating with $76 price target.Price: $47.83, Change: $-4.02, Percent Change: -7.75%

$SRRK

Wire7d ago

Top Midday Decliners

Axon Enterprise (AXON) intends to offer $1 billion of 0% convertible senior notes due 2031 in a public offering, it said Tuesday.Shares fell 8% as intraday trading volume climbed to more than 1.51 million from a daily average of about 951,000.Enova International (ENVA) shares sank 23% after the company said late Monday it withdrew applications from the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System for a proposed acquisition of Grasshopper Bancorp.More than 1.44 million shares traded intraday compared with a daily average of about 358,000.Dave & Buster's Entertainment (PLAY) swung to a fiscal Q2 non-GAAP net loss as revenue declined from a year ago, the company said late Monday.Shares sank 20% as intraday trading volume soared to more than 13.3 million from the stock's daily average of roughly 1.73 million.Price: $448.30, Change: $-41.88, Percent Change: -8.54%

$AXON$ENVA$PLAY

Wire7d ago

Ecovyst Shares Rise After Director Buys $250,000 in Stock

Ecovyst (ECVT) shares were up 7% in afternoon trading on Tuesday after a regulatory filing on late Monday showed that company director Patti Humble bought around 24,875 shares on Sept. 10 for roughly $250,000.Trading volume stood at around 1.2 million shares against a daily average of about 1.5 million.Price: $10.66, Change: $+0.68, Percent Change: +6.87%

$ECVT

Wire7d ago

Update: Borr Drilling Shares Rise After Divesting Mexican Oil Drilling Joint Ventures

(Updates with the latest stock price movement in the headline and first paragraph.)Borr Drilling (BORR) shares rose over 5% on Tuesday after the company said it agreed to divest its 51% interest in two oil-drilling Mexican joint ventures to its partner in Mexico.No financial terms were disclosed.Under terms of the transaction, Borr Drilling will transfer to its local partner responsibility for management of three of the company's jack-up rigs, which are operating in collaboration with state-oil company PEMEX.Borr Drilling will retain ownership of the three rigs, and continue participating in the underlying contracts through bareboat charter agreements, it said.Borr Drilling said the new arrangement creates a more-efficient platform for expansion in Mexico, as demand for shallow-water oil drilling grows.Price: $4.34, Change: $+0.22, Percent Change: +5.34%

$BORR

Wire7d ago

Ribbon Communications Shares Fall After Rosenblatt Securities Downgrade

Ribbon Communications (RBBN) shares fell 6% in Tuesday trading after Rosenblatt Securities downgraded the stock to neutral from buy and trimmed the price target to $2.20 from $3.50.Trading volume stood at over 916,000 shares, compared with a daily average of more than 741,000.Price: $1.88, Change: $-0.12, Percent Change: -6.00%

$RBBN

Wire7d ago

Top Midday Gainers

Veea (VEEA) shares more than doubled in Tuesday trading, a day after the company signed a term sheet with NovaGen Group to merge in a deal that values the new entity at $750 million, and GeoNova Capital also signed a term sheet to invest $10 million in the combined company as a cornerstone investor.Intraday volume topped 182.3 million shares, compared with the daily average of about 486,530.Forgent Power Solutions (FPS) reported fiscal Q4 adjusted net income more than tripled from a year earlier as sales surged.The stock jumped 13% as volume topped 23.7 million shares, compared with the daily average of 7.78 million.Clene (CLNN) priced a registered direct offering of 1.22 million shares at $3.28 each to existing holders, including insiders, targeting gross proceeds of $4 million.The stock rose 25% as volume topped 367,800 shares, compared with the daily average of 85,832.Price: $5.69, Change: $+3.40, Percent Change: +148.47%

$CLNN$FPS$VEEA

Wire7d ago

Update: Contineum Therapeutics Shares Fall After Phase 2 Major Depressive Disorder Study Fails to Meet Primary Efficacy Endpoint

(Updates with the latest stock price movement in the headline and first paragraph.)Contineum Therapeutics (CTNM) shares were down more than 9% in Tuesday trading, a day after the company said the phase 2 MOONLIGHT-1 trial of JNJ-5120/PIPE-307 for the treatment of major depressive disorder did not meet its primary efficacy endpoint.JNJ-5120/PIPE-307 is being developed by Johnson & Johnson (JNJ) under a global license and development agreement, the company noted.The study evaluated improvement from baseline in the Montgomery-Asberg Depression Rating Scale total score at Day 5 compared with placebo, the company said, adding that the treatment was well tolerated and showed no new safety signals.Johnson & Johnson is continuing to review the trial data, including prespecified exploratory endpoints, to determine next steps for the program, according to a statement.Price: $13.46, Change: $-1.36, Percent Change: -9.18%

$CTNM$JNJ

Wire7d ago

Tenet Healthcare Director Sells Stock for $2.6 Million

Tenet Healthcare (THC) shares were down 1.3% in Tuesday trading, a day after the company said in a filing that board member Richard Mark sold 10,000 common shares at $263.42 each on Sept. 10, for total proceeds of approximately $2.6 million.Mark currently owns 25,121 shares of Tenet Healthcare, according to the filing.Price: $260.90, Change: $-3.61, Percent Change: -1.36%

$THC

Wire7d ago

Sasol to Supply Tour Operator White Desert With Sustainable Aviation Fuel

Sasol (SSL) will supply White Desert with commercial sustainable aviation fuel, supporting the tour operator's expeditions from Cape Town, Africa, to Antarctica, the companies said Tuesday.Financial terms of the partnership were not provided.The sustainable aviation fuel supplied under the agreement is produced from sustainable bio-feedstocks, they said.Price: $15.14, Change: $+0.64, Percent Change: +4.41%

$SSL

Wire7d ago

Update: Transocean Shares Rise After $80 Million Drillship Contract for Work in Equatorial Guinea

(Updates with the latest stock price movement in the headline and first paragraph.)Transocean (RIG) shares rose 7.6% in Tuesday trading after the company said it signed an $80 million two-well contract for the Deepwater Conqueror drillship with an undisclosed operator for work in Equatorial Guinea.Deepwater Conqueror will undertake an estimated 170-day campaign, set to begin in 2027.The contract is expected to contribute about $80 million in backlog, excluding additional services and compensation for mobilization and demobilization, Transocean said.Price: $5.87, Change: $+0.42, Percent Change: +7.61%

$RIG

Wire7d ago

Market Chatter: Boeing Close to Salvaging Deal With Turkish Airlines

Boeing (BA) is close to finalizing a Turkish Airlines order for 150 of its 737 MAX jets after the airline threatened to walk away from the deal, Reuters reported Tuesday, citing four people familiar with the matter.The order was delayed by Turkish Airlines' request for an industrial deal on engine maintenance, but it is now set to be signed as early as next week, the report said, citing three of the people.Boeing didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $210.85, Change: $+0.57, Percent Change: +0.27%

$BA

Wire7d ago

New York Times Shares Rise After Guggenheim Upgrade

New York Times (NYT) shares were up 3.5% in Tuesday trading after Guggenheim upgraded its rating on the company's stock to buy from neutral and adjusted its price target to $82 from $70.Trading volume stood at 1.1 million shares, compared with a daily average of nearly 2 million.Price: $72.81, Change: $+2.47, Percent Change: +3.51%

$NYT

Wire7d ago

Tyler Technologies Sets $260 Million Buyback Under 10b5-1 Plan

Tyler Technologies (TYL) entered into a Rule 10b5-1 trading plan to repurchase up to $260 million in stock from Wednesday through Oct. 29.The company said Tuesday in a regulatory filing it has $1.416 billion remaining under its broader share repurchase authorization.Price: $357.34, Change: $-2.20, Percent Change: -0.61%

$TYL

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