ADVFN US – Market Content Editor
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Unicycive shares plunge after FDA issues Complete Response Letter for kidney disease drug (UNCY)
Manufacturing issues delay regulatory approval Unicycive Therapeutics Inc. (NASDAQ:UNCY) shares fell 37% on Tuesday after the company disclosed that it had received a Complete Response Letter from the U.S. Food and Drug Administration for its resubmitted New Drug Application covering oxylanthanum carbonate. The FDA said the application remains affected by deficiencies at a third-party manufacturing…
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AEVEX shares climb after securing $50 million U.S. Air Force contract (AVEX)
Defense company wins new unmanned systems award AEVEX Corp. (NYSE:AVEX) shares gained 11% on Tuesday after the company announced it had been awarded a $50 million contract by the United States Air Force to enhance unmanned mission-support capabilities for ongoing operations. According to the company, the award includes $27 million in initial funding and will…
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Trade Desk shares decline after Arete cuts rating to Sell (TTD)
Analyst warns of mounting competitive and structural challenges Trade Desk (NASDAQ:TTD) shares fell 2.6% on Tuesday after Arete downgraded the digital advertising technology company to Sell from Neutral and assigned a price target of $11.60. The stock had closed at $18.65 on Monday, meaning the new target implies downside of roughly 38%. According to analyst…
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Nuvectis Pharma shares slide after pricing $100 million discounted stock offering (NVCT)
Secondary offering priced well below previous close Nuvectis Pharma (NASDAQ:NVCT) shares dropped 25% in premarket trading on Tuesday after the clinical-stage biopharmaceutical company priced a $100 million public offering at $20.00 per share, substantially below Monday’s closing price of $28.53. The company is issuing 5,000,000 shares of common stock, with the offering price representing a…
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Defense stocks rally after AeroVironment delivers record quarterly performance (UMAC)
Sector advances as AeroVironment beats expectations Shares of Unusual Machines (AMEX:UMAC), Kratos Defense & Security (NASDAQ:KTOS) and Vishay Precision Group (NYSE:VPG) moved higher on Tuesday as investors reacted to stronger-than-expected results from industry peer AeroVironment (NASDAQ:AVAV). Kratos Defense & Security gained 8%, while Vishay Precision Group advanced 5%. The broader rally followed a 32% jump…
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QXO shares rise after TopBuild merger election results released (QXO)
Most TopBuild shareholders opt for cash component QXO, Inc. (NYSE:QXO) shares climbed 8% on Tuesday after the company announced the preliminary election results for shareholders of TopBuild Corp. (NYSE:BLD) ahead of the completion of their merger. The companies said shareholders representing approximately 91.0% of TopBuild’s outstanding shares elected to receive the cash consideration available under…
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Semiconductor stocks climb to record 19.7% of the S&P 500 as AI rally reshapes the index
Chipmakers reach unprecedented share of the benchmark Semiconductor companies now account for a record 19.7% of the S&P 500, almost four times their weighting of around 5% in June 2020, according to Citadel Securities strategist Scott Rubner. The sector’s influence has grown well beyond previous market peaks. Before the dotcom crash, semiconductor stocks represented just…
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Guardian Metal Advances Toward Becoming a Key U.S. Tungsten Producer Following Strong Pilot Mountain PFS
Guardian Metal Resources (AMEX:GMTL), (USOTC: GMTLF), (LSE:GMET) has reached an important development milestone with the release of the Pre-Feasibility Study (PFS) for its Pilot Mountain Tungsten Project in Nevada. The results reinforce the project’s potential to become a significant domestic source of tungsten at a time when the United States is seeking to strengthen critical…
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Sinda completes $213 million NYSE IPO to support Mexican silver projects (SIND)
Silver explorer begins trading on the NYSE Sinda Ltd. (NYSE:SIND), a silver exploration and development company focused on Mexico, has completed its initial public offering, raising approximately $213 million in gross proceeds before underwriting discounts, commissions and other offering-related expenses. The company sold 17,750,000 common shares at a public offering price of $12.00 each. Its…
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Logitech shares fall after Bank of America cuts rating and lowers price target (LOGI)
BofA sees weaker demand ahead for consumer peripherals Bank of America has downgraded Logitech (NASDAQ:LOGI) to Underperform from Neutral while reducing its price target by 18% to CHF70/$86 from CHF85/$108, citing expectations that demand for the company’s products will weaken significantly over the next 12 to 18 months as higher hardware prices weigh on consumer…