ADVFN US – Market Content Editor
-
Meta Shares Trim Premarket Losses After Hiring MongoDB CEO
Meta Platforms (NASDAQ:META) shares reduced their premarket losses on Monday after the company confirmed the hiring of MongoDB’s chief executive, Chirantan “CJ” Desai. Meta shares had fallen more than 3% earlier in the session before recovering to trade 0.7% lower. Desai stepped down as MongoDB’s chief executive with immediate effect to take a senior position…
-
Draganfly Shares Rise After $10 Million Strategic Investment
Draganfly Inc (NASDAQ:DPRO) shares rose 3.7% in premarket trading on Monday after the drone technology company announced a $10 million strategic investment from Unusual Machines Inc (AMEX:UMAC) and a US investment fund. Unusual Machines and the investment fund will each contribute $5 million. Draganfly said the proceeds will be used to support the development of…
-
Silvercorp Metals Shares Fall 5.4% as Silver Prices Decline
Silvercorp Metals (AMEX:SVM) shares fell 5.4% to $10.73 in pre-open trading as silver prices declined during Monday’s session. Spot silver fell nearly 5% as investors monitored higher crude oil prices, expectations for US interest rates, a stronger US dollar and rising Treasury yields. The source material did not identify a company-specific announcement, earnings report or…
-
BioNTech to Close Manufacturing Sites in Germany and Singapore After Sale Process Ends
BioNTech (NASDAQ:BNTX) said on Monday that it will close manufacturing facilities in Germany and Singapore after a sales process for the sites did not result in completed transactions. The German vaccine maker had announced in May that it would seek buyers for facilities in Idar-Oberstein, Marburg and Tuebingen in Germany, as well as its Singapore…
-
Cerebras to Supply AI Computing Systems to Gimlet Labs
Cerebras Systems (NASDAQ:CBRS) plans to supply AI chips and computing systems with capacity to consume approximately 100 megawatts of power to cloud computing startup Gimlet Labs, the companies said on Monday. Gimlet plans to use the Cerebras hardware to provide computing capacity for artificial intelligence inference, the process through which AI models generate responses to…
-
Amprius Technologies Shares Rise 11% After Securing Up to $75 Million Defense Grant
Amprius Technologies (NYSE:AMPX) shares rose 11% on Monday after the company secured a grant of up to $75 million to retrofit an existing US production line for high-energy-density battery cells. The grant was awarded through the Industrial Base Analysis and Sustainment program and will support the conversion of a US-based electric vehicle battery production line…
-
MediciNova Shares Fall After Phase 2 Tipelukast Trial Misses Primary Endpoints
MediciNova Inc (NASDAQ:MNOV) shares fell 14.7% in premarket trading on Monday after the company reported topline results from a Phase 2 clinical trial evaluating tipelukast, or MN-001, in patients with nonalcoholic fatty liver disease and hypertriglyceridemia associated with type 2 diabetes mellitus. The MN-001-NATG-202 trial did not achieve statistical significance for its primary endpoints at…
-
Agnico Eagle Shares Fall 4.9% as Gold Prices Decline
Agnico Eagle (NYSE:AEM) shares fell 4.9% to $184.99 in pre-open trading as gold prices declined during Monday’s session. Spot gold fell below $4,200 per ounce intraday, representing a decline of more than $100 during the session. The move in gold came as comments from several Federal Reserve officials contributed to expectations for an additional 25-basis-point…
-
MongoDB Shares Fall 15% as CEO Chirantan Desai Resigns to Join Meta
MongoDB (NASDAQ:MDB) shares fell 15% on Monday after President and Chief Executive Officer Chirantan “CJ” Desai resigned with immediate effect to take a newly created role at Meta Platforms (NASDAQ). Desai will become Meta’s Chief Enterprise Platform Officer, reporting directly to Chief Executive Officer Mark Zuckerberg. Following Desai’s departure, MongoDB appointed former CEO Dev Ittycheria…
-
AbbVie Receives FDA Approval for Parkinson’s Disease Drug Juvmo
AbbVie Inc (NYSE:ABBV) received approval from the U.S. Food and Drug Administration for Juvmo, or tavapadon, tablets for the treatment of Parkinson’s disease. According to the company, Juvmo is the first and only selective D1/D5 receptor agonist approved for the indication. Approval Based on Phase 3 TEMPO Program The FDA approval was supported by results…