Morning Buzz: KaloBios (KBIO), Oculus (OCLS), Actinium (ATNM), FedEx (FDX), Pandora Media (P)

Shares of KaloBios Pharmaceuticals, Inc. (KBIO) tumbled 53% in pre-market trading Thursday morning. The nosedive being attributed to reports that Martin Shkreli, who is chief executive officer of Turing Pharmaceuticals and KaloBios, has been arrested by the FBI for securities fraud. According to Reuters, Shkreli’s probe stems from his time as manager of hedge fund MSMB Capital Management and CEO of biopharmaceutical company Retrophin Inc (RTRX).

Oculus Innovative Sciences, Inc. (OCLS) shares surged 25.45% to $1.38 in pre-market trading after announcing that it has received a new 510(k) clearance from the FDA for the company’s new Microcyn®-based SebDerm Gel.

Shares of Actinium Pharmaceuticals, Inc. (ATNM) are up 25.26% after the company this morning reported the FDA has cleared its IND filing for Iomab-B and that it will proceed with a pivotal, Phase 3 clinical trial.

FedEx Corporation (FDX) rallied $8.32 to $157.15 in pre-market trading after it reported fiscal-second quarter 2016 earnings.

The delivery company handed in earnings of $2.58 per share on revenue of $12.50 billion, beating Wall Street EPS estimates of $2.50 per share on revenue of $12.42 billion. These results were higher than last year’s Q2 when FedEx reported a profit of $2.16/shr on $11.9 billion in revenue.

For FY16, FDX provided EPS guidance of $10.40 to $10.90 versus consensus of $10.55 per share.

Shares of Pandora Media, Inc. (P) advanced to $13.44 in the previous session in New York and have risen nearly 18% in pre-market trading Thursday, following a decision from the Copyright Royalty Board, imposing a music royalty hike of 20% for online broadcasters, 15% higher from Pandora’s current rate of $0.14 per 100 plays.

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