Market Movers Today: Iovance Biotherapeutics Inc (IOVA), Key Technology, Inc. (KTEC), Union Pacific Corporation (UNP), and More

Iovance Biotherapeutics Inc (NASDAQ:IOVA) (The Motley Fool)
What happened: Shares of pre-revenue biopharma Iovance Biotherapeutics (NASDAQ:IOVA) rose nearly 30% today after the company announced preliminary results from two phase 2 trials evaluating one of its lead drug candidates as a potential treatment for head and neck and cervical cancers. Management also took advantage of the soaring stock price to announce a share offering that will provide gross proceeds of $172.5 million if all options are exercised.

Key Technology, Inc. (NASDAQ:KTEC) (Benzinga)
Key Technology, Inc. shares surged 49.8 percent to $26.65 as Duravant announced plans to purchase Key Technology at $26.75 per share in cash.

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Union Pacific Corporation (NYSE:UNP) (Seeking Alpha)
Union Pacific (NYSE:UNP) is sharply lower in early trading after missing Q4 EPS estimates by just a penny. The company’s operating revenue of $5.45B edged past the consensus estimate of $5.43B on strength in the industrial products and chemicals commodity groups. The operating ratio was 58.7% of sales for the quarter vs. 62.2% a year ago. CEU update: “We are optimistic the economy will favor a number of our market segments leading to another year of positive volume growth. Increased unit volume, combined with inflation plus core pricing and G55-0 productivity initiatives, should result in another year of revenue growth and improved margins.”

Varian Medical Systems, Inc. (NYSE:VAR) (CNA Finance)
Varian Medical Systems, Inc. (NYSE:VAR) is having an incredibly strong start to the trading session this morning, and for good reason. The company has announced that it reached a key agreement surrounding the sale of a key medical product. Of course, this led to excitement among investors, sending the stock screaming for the top. Today, we’ll talk about the news, what we’re seeing from VAR, and what we’ll be watching for ahead.