CTI BioPharma soars on deal news, while Upstart and Rivian climb after earnings

CTI BioPharma Corp. CTIC stock soared 83% in premarket trading after Swedish Orphan Biovitrum AB SE:SOBI said it had entered into an agreement to acquire the biotech in a deal valued at $1.7 billion. The offer represents a premium of 88.8% over CTI’s... Here are some of the biggest stock moves in premarket action on Wednesday:CTI BioPharma Corp.

Shares of IAC Inc. IAC climbed nearly 9% after the internet and media holding company posted sales of $1.08 billion, down 18% from a year ago but eclipsing analyst estimates of $1.06 billion. Toast Inc. TOST shares rose 4% after the restaurant-industry software provider reported a beat-and-raise quarter.

Shares of H&R Block Inc. HRB fell 8% after the tax-preparation company slashed its outlook for the full fiscal year, blaming a tax season that didn’t pan out according to expectations.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Upstart stock soars as earnings outlook positively surprisesShares of Upstart were rocketing 27% in after-hours trading Tuesday after the financial-services company delivered an upbeat outlook for the current period.
Source: MarketWatch - 🏆 3. / 97 Read more »

Baxter to divest biopharma business for $4.25 billionBaxter International Inc said on Monday a private-equity group, which includes Warburg Pincus and Advent International, has agreed to buy its biopharma solutions unit for $4.25 billion.
Source: Reuters - 🏆 2. / 97 Read more »