Morning Buzz: Western Digital (WDC), Barracuda Networks (CUDA), Apple (AAPL), Novavax (NVAX), Tesla (TSLA)

Shares of Western Digital Corporation (WDC) are higher by 13.16% to $78.50 in pre-market trading on Wednesday after the company announced a $3.775 billion equity investment by Unisplendour. Under the terms of the investment, Unis has agreed to purchase newly issued Western Digital common stock at a price of $92.50 per share.

Barracuda Networks, Inc. (CUDA) dropped $6.56 to $16.99 in pre-market trading after it reported fiscal results for the second quarter of 2016.

In its quarterly report, the security and storage company said it earned $0.10 per share, $0.01 above the $0.09 per share analysts were expecting. Revenue rose 14.1% year-over-year to $78.4 million, below views for $78.65 million. Looking ahead, the company guided Q3 revenues of $79 million – $81 million, as compared to analysts’ expectations of $82.45 million. The management also gave its bottom line range of $0.07 – $0.08 per share, against projections of $0.10 per share. In a separate statement, Barracuda said it has agreed to buy privately held data-protection company Intronis, Inc. Terms of the deal, expected to close in Q3, were not disclosed.

Apple Inc. (AAPL) shares are up 1.05% to $110.20 in pre-market trading after the company announced the launch of its Apple Music service in China. Cupertino said its streaming service, available in U.S. since the end of June, will be available to Chinese customers as of today for less than $2, or 10 RMB a month.

Shares of Novavax, Inc. (NVAX) are up $0.57, or 8.89%, at $6.98, after the company this morning reported positive top-line data from phase 2 clinical trial of RSV F vaccine to protect infants via maternal immunization. Novavax also announced today that it has been awarded a grant of up to $89 million by the Bill & Melinda Gates Foundation to support development of the RSV F Vaccine Phase 3 clinical trial in pregnant women, planned to initiate during the first quarter of 2016.

Tesla Motors, Inc. (TSLA) shares climbed 1.46% to $250.25 in pre-market trading on Wednesday. CEO Elon Musk launched the company’s highly-anticipated Model X electric SUV on Tuesday night, saying “The Model X is going to be a phenomenal car.” He also said the only regret about the vehicle is that the company got a bit carried away with its features.

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