Tetraphase Pharmaceuticals Inc (NASDAQ:TTPH) (Benzinga)
Tetraphase Pharmaceuticals Inc’s Ignite3 trial evaluating the company’s lead drug candidate eravacycline for treating complicated urinary tract infections, or cUTIs, failed to ace a late-stage trial. At last check, the shares were plunging nearly 61 percent to $2.12. Ignite3 Fails to Ignite Shares: The Ignite3 trial evaluated the efficacy and safety of once-daily intravenous eravacycline compared to ertapenem for treating patients with cUTIs. The trial did not achieve statistical non-inferiority of eravacycline to ertapenem, the company said in a release.
Twilio Inc (NYSE:TWLO) (The Motley Fool)
What happened: Shares of Twilio (NYSE:TWLO) soared on Wednesday morning following the release of strong fourth-quarter results. As of 11:40 a.m. EST, the digital communications specialist’s stock was trading 20.3% higher for the day. So what: Twilio’s total fourth-quarter sales rose 40% year over year to land at $115.2 million. The bottom line moved from a breakeven result in the year-ago quarter to an adjusted net loss of $0.03 per share this time.
Genesco Inc. (NYSE:GCO) (MarketWatch)
Genesco Inc. GCO, +11.19% shares surged 9.2% in Wednesday trading after the company announced plans to sell the Lids Sports Group business. Genesco’s board determined after a strategic review that it should focus on footwear while Lids specializes in hats and team sports fan shops. Genesco sells wholesale footwear through the Johnston & Murphy and Trask brands and licenses shoes from other brands. Nashville-based Genesco has more than 2,725 retail stores and leased departments in the U.S., Canada, the U.K., Ireland and Germany under the names Journeys, Lids, and other chains.
Nektar Therapeutics (NASDAQ:NKTR) (TheStreet)
Shares of Nektar Therapeutics (NKTR) soared in early trading on Wednesday, Feb. 14, after the San Francisco biotechnology company unveiled a collaboration agreement with Bristol-Myers Squibb Co. (BMY) for Nektar’s lead immuno-oncology program, NKTR-214. Nektar’s stock was trading at $86.38 on Wednesday afternoon, up 14.2%. Shares of Bristol-Myers were trading at $64.59, up 1.1%. Word of the collaboration came after Bloomberg reported on Feb. 2 that Nektar was mulling options, including a potential sale. The report added that Nektar could also pursue partnerships and licensing deals.
Fossil Group Inc (NASDAQ:FOSL) (CNBC)
Shares of Fossil Group skyrocketed Wednesday morning, after the company reported earnings and sales that topped analysts’ estimates because of a surprise jump in demand for wearables. The stock rallied more than 60 percent in the first hour of trading. Earlier, shares had surged more than 80 percent during premarket hours. Same-store sales climbed 2 percent in the fourth quarter, Fossil said Tuesday, as the company rolled out new hybrid and display smartwatches across 14 brands. E-commerce sales were up 31 percent during the period.