Google Inc. (GOOG) may be moving into the U.S. auto insurance market through a comparison shopping site, according to a note by Forrester Research analyst Ellen Carney. The search giant is planning soon to pilot its new Google Compare auto insurance comparison site, Carney wrote, adding that the Mountain View-based company has been pitching the service to insurance providers for more than two years.
Shares of Google are down 1.05% to $497.38 in early market trading Friday. The stock is down 9% year-over-year and 4.51% year-to-date. In the past 12 months, shares of the $341.00 billion market cap company have traded between a low of $489.00 and a high of $604.83.
Conatus Pharmaceuticals Inc. (CNAT) is one of Friday’s notable stocks in decline, down 39%. The nosedive came after the company announced its decision to discontinue the acute-on-chronic liver failure (ACLF) trial due to logistical challenges.
Conatus said that “[a]fter reviewing safety data, an independent Data Monitoring Committee recommended continuation of the ACLF trial to completion, but also recognized the logistical challenges of conducting a controlled trial in this patient population and agreed with the company’s decision to an early termination of the trial.”
In other CNAT news this morning, the name was downgraded to ‘Neutral’ from ‘Overweight’ at Piper Jaffray.
CNAT shares recently lost $4.17 to $6.16. In the past 52 weeks, shares of San Diego-based biotechnology company have traded between a low of $5.06 and a high of $15.67. Shares are up 65.54% year-over-year and 47.57% year-to-date.
Shares of Star Bulk Carriers Corp. (SBLK) are trading down nearly 19% in pre-market trading Friday after the shipping company announced plans to make an underwritten public offering of its common stock. Star Bulk did not disclose the size of the proposed offering.
Star Bulk Carriers, currently valued at $594.41M, has a median Wall Street price target of $10.50 with a high target of $17.00. In the past 52 weeks, shares of Athens, Greece-based company have traded between a low of $5.41 and a high of $15.88 with the 50-day MA and 200-day MA located at $6.70 and $10.40 levels, respectively. Additionally, shares of SBLK have a Relative Strength Index (RSI) and MACD indicator of 48.36 and -0.01, respectively.
SBLK currently prints a one year loss of about 52%. Star Bulk shares fell $1.28 to $5.26 in recent trading.
Agenus Inc. (AGEN) shares surged 26% to $5.14 in pre-market trading after the company announced a global license, development and commercialization agreement with Incyte Corporation (INCY).
Under the terms of the agreements between the parties, Incyte will make upfront payments to Agenus totaling $25 million and invest $35 million by purchasing approximately 7.76 million newly issued shares of Agenus common stock at a price of $4.51 per share.
Shares of Lexington, Massachusetts-based biopharmaceutical company are up 45.23% year-over-year.
Adamis Pharmaceuticals (ADMP) shares plunged 27% to $5.15 in pre-market trading after the company announced the pricing of its previously announced 2 million share offering at a public offering price of $5.00 per share, resulting in gross proceeds of approximately $10 million.
Oppenheimer & Co. Inc. is acting as the sole book-running manager for the proposed offering.
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