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.

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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.
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