Facebook, Inc. (NASDAQ:FB) (Los Angeles Times)
Facebook Inc.’s stock tumbled Monday after the social media company accused a data analytics firm used by the Trump campaign of exploiting ill-gotten data belonging to unwitting Facebook users. Shares of Facebook sank 6.7% to $172.69 around 9:50 a.m. Pacific time. On Friday, a Facebook executive said in a blog post that the Menlo Park, Calif., company was suspending data analytics firm Strategic Communication Laboratories and its affiliate Cambridge Analytica. Facebook said the two companies had failed to delete user data it had acquired in 2015 in violation of the platform’s rules.
Geron Corporation (NASDAQ:GERN) (The Motley Fool)
What happened: Shares of Geron Corporation (NASDAQ:GERN), a clinical-stage biotech developing a cancer therapy, popped this morning after the company included a pipeline update with its fourth-quarter earnings report after Friday’s bell. The improved outlook for imetelstat has pushed the stock 28.8% higher as of 11:29 a.m. EDT on Monday.
Heron Therapeutics Inc (NASDAQ:HRTX) (MarketWatch)
Heron Therapeutics Inc.’s shares HRTX, +26.98% surged 28% in premarket trade Monday, after the company announced positive results in a late-stage trial of an anesthetic used for patients undergoing bunionectomy and hernia repair. The company said the trial of its HTX-011 agent showing significant reductions in pain intensity and use of opioids afterachieved all primary and key secondary endpoints in two Phase 3 trials, surgery.
Micro Focus International PLC – ADR (NYSE:MFGP) (The Wall Street Journal)
LONDON—Micro Focus International PLC’s $8.8 billion merger with Hewlett Packard Enterprise Co.’s software business represented a rarity 18 months ago: a British tech company taking over a foreign one, rather than the other way around. It hasn’t worked out as planned. Micro Focus shares fell by as much as 55% Monday, wiping about £4.5 billion ($6.3 billion) off its market value, after it said technical problems related to combining the computer systems of Micro Focus and HPE would lead to lower-than-expected sales.
Klondex Mines Ltd (NYSEAMERICAN:KLDX) (The Motley Fool)
What happened: Shares of Klondex Mines Ltd (NYSEMKT:KLDX) skyrocketed on Monday, up nearly 58% as of 10:45 a.m. EDT. Driving the surge was the announcement of a transaction with fellow gold miner Hecla Mining (NYSE:HL), whose stock tumbled more than 10% on the news. So what: Klondex Mines announced that it has agreed to be acquired by Hecla Mining for $462 million in cash and shares, representing a 59% premium to its trading price over the past 30 days.
Arista Networks Inc (NYSE:ANET) (MarketWatch)
Shares of Arista Networks Inc. ANET, -5.99% are down 4.4% in Monday morning trading after Deutsche Bank analyst Vijay Bhagavath downgraded the stock to sell from hold. Bhagavath also lowered his price target to $195 from $245. He points to “volatility in product orders” as well as his expectations that 100G switching orders will be weaker than anticipated. He also worries about the competitive landscape, writing that “a resurgent Cisco [Systems Inc. CSCO, -2.07% ] has been proactive in securing 100G Switch Router design wins at major cloud providers, and at enterprise multi clouds.”
Xerium Technologies, Inc. (NYSE:XRM) (Benzinga)
Xerium Technologies, Inc. shares surged 24.5 percent to $6.81 as the company reported a review of strategic alternatives to maximize shareholder value.
QUALCOMM, Inc. (NASDAQ:QCOM) (CNBC)
Qualcomm – Former chairman Paul Jacobs won’t be renominated to the chipmaker’s board, following news that he explored an effort to put together a potential buyout of the company his father founded. Reports say the board felt Jacobs could not be a director and work on a bid at the same time.
Cidara Therapeutics Inc (NASDAQ:CDTX) (Benzinga)
Cidara Therapeutics, Inc. fell 19.7 percent to $6.345. Cidara Therapeutics disclosed ‘positive’ topline results from Phase 2 STRIVE trial of lead antifungal rezafungin.