Dropbox, Inc. (NASDAQ:DBX) (Reuters)
(Reuters) – Dropbox Inc’s shares soared by as much as 50 percent in their first day of trading on Friday as investors rushed to buy into the biggest technology initial public offering in more than a year even as the wider tech sector languished. The stock opened at $29 on the Nasdaq and shot up to as high as $31.60 in early trading. At the stock’s opening price, Dropbox had a market valuation of $12.67 billion, well above the $10 billion valuation it had in its last private funding round. It was last trading at $29.90, up 42 percent. Its IPO priced at $21 a share late on Thursday – $1 above the projected range of $18 to $20 each and was several times oversubscribed.
Micron Technology, Inc. (NASDAQ:MU) (Bloomberg)
Micron Technology Inc. fell as much as 8 percent in early trading Friday after giving a disappointing forecast for third-quarter sales, pausing a stock surge this year fueled by fast revenue growth. Analysts at Citigroup cut their rating on the stock to neutral, raising the number of non-buy ratings to three. The stock fell to as low as $54.18 in early trading in New York Friday before paring the loss. It was down 2.8 percent at 8:10 a.m. Micron shares have gained more than 40 percent this year and had been trading near a 17-year high before the results were released after the close of regular Thursday.
New York & Company, Inc. (NYSE:NWY) (Benzinga)
New York & Company, Inc. gained 21.8 percent to $3.38 following Q4 results. New York & Company posted Q4 adjusted earnings of $0.08 per share on revenue of $278.7 million.
Geron Corporation (NASDAQ:GERN) (The Motley Fool)
What happened: After the company updated investors on its clinical-stage progress on Monday, shares in Geron Corp. (NASDAQ:GERN) have more than doubled, including a 10% increase today as of 11:45 a.m. EDT. So what: Patients with life-threatening hematologic myeloid malignancies, including myelofibrosis, have limited treatment options and a poor prognosis, so there’s a big need for new treatment options, such as Geron Corp.’s imetelstat, which is currently in phase 2 studies and licensed to Johnson & Johnson (NYSE:JNJ).