Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) (The Motley Fool)
What happened: Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY), a precommercial pioneer of RNA-based therapies, continued a slide that began just ahead of the weekend. A clinical trial win that Pfizer Inc. (NYSE:PFE) announced on Thursday could mean potential competition for Alnylam’s lead candidate could be much worse than expected. In response, the stock is down 15.7% as of 11:30 a.m. EDT on Monday.
Snap Inc (NYSE:SNAP) (MarketWatch)
Snap Inc. SNAP, -7.53% shares are down 7.2% in Monday morning trading after the company confirmed in a filing late last week that it had cut 7% of its workforce. Snap said that it expected to save about $25 million in 2018 related to salaries and payroll taxes. SunTrust Robinson Humphrey analyst Youssef Squali wrote Monday that Snap’s filing “reveals more about its intent to accelerate profitability.”
Sellas Life Sciences Group Inc (NASDAQ:SLS) (Benzinga)
SELLAS Life Sciences Group, Inc. shares jumped 139.7 percent to $8.270 after the company disclosed positive interim data from its Phase 2b NeuVax trial.
Intel Corporation (NASDAQ:INTC) (CNBC)
Intel shares dropped sharply on Monday after a Bloomberg report that Apple would ditch Intel chips for an in-house model on Mac computers. Shares of Intel fell as much as 9 percent after the Bloomberg report, which cited unnamed people familiar with the matter. Apple declined to comment and Intel said it does not respond to speculations or rumors. There are many different types of chips and processors that go into Apple’s products, both from Intel and competitors like Qualcomm, Broadcom and Arm. But Apple has increasingly looked to bring design of the most important chips – for things like artificial intelligence and augmented reality – in-house, with chips for Mac, Watch, AirPods and Beats.
Alkermes PLC (NASDAQ:ALKS) (Benzinga)
Alkermes plc tumbled 20.5 percent to $46.07 after the U.S. Food and Drug Administration said it won’t review the company’s therapy ALKS-5461. Alkermes, which mostly focuses on treatments for central nervous system diseases, said in a press release it received a Refusal to File letter from the FDA regarding its New Drug Application (NDA) for ALKS-5461.
Geron Corporation (NASDAQ:GERN) (The Motley Fool)
What happened: Geron Corporation (NASDAQ:GERN), a small-cap drugmaker, saw its shares continue their recent downturn Monday by falling by as much as 11.3% in early-morning trading. After gaining more than 200% earlier this year, the biotech’s shares have now shed over 33% of their value in just the past week. Geron’s stock is drifting lower in response to criticism from STAT’s Adam Feuerstein regarding the efficacy of the company’s one and only drug candidate, imetelstat.
Tesla Inc (NASDAQ:TSLA) (CNBC)
Tesla shares are plunging after the company announced a large recall and revealed more details about a fatal Model X crash last month. The company on Thursday announced a voluntary recall of 123,000 Model S vehicles because of an issue with a power steering component. Tesla then revealed on Friday that the Model X vehicle involved in a fatal crash last month had its Autopilot system activated. The National Transportation Safety Board, the government agency investigating the crash, said on Sunday it was “unhappy” that Tesla made public information about the incident.
Netflix, Inc. (NASDAQ:NFLX) (MarketWatch)
Shares of Netflix Inc. fell on Monday, with the online-moving streaming company poised to close below a closely watched level for the first time this year. The stock NFLX, -5.70% fell 3.5% and was on track for its sixth decline of the past eight. With the decline, Netflix fell below its 50-day moving average, a gauge that is seen as an indicator of short-term momentum trends. The stock hasn’t closed below the level since Dec. 29, although it fell below it on an intraday basis in the past two sessions.
Amazon.com, Inc. (NASDAQ:AMZN) (Reuters)
(Reuters) – Shares of Amazon.com Inc (AMZN.O) fell 6 percent on Monday after U.S. President Donald Trump again attacked the online retailer over the pricing of its deliveries through the United States Postal Service and promised unspecified changes. “Only fools, or worse, are saying that our money losing Post Office makes money with Amazon,” Trump tweeted. “They lose a fortune, and this will be changed. Also, our fully tax paying retailers are closing stores all over the country…not a level playing field!” Shares of the company were down 5.9 percent at $1,362.48, wiping out nearly $45 billion from its market value.