KaloBios Pharmaceuticals, Inc. (KBIO) – The biotech filed for Chapter 11 bankruptcy protection late Tuesday. Filing comes just weeks after Martin Shkreli, who had assumed the chief executive role in November, rescued the company, which was preparing to wind down operations.
Trading in KBIO has been halted since Dec. 17, the day of Shkreli’s arrest on fraud charges.
Facebook (FB) shares are lower in early-morning trading on Wednesday after a federal judge gave the go ahead on two U.S. class action lawsuits against the social networking giant, accusing it of hiding growth concerns ahead of its 2012 IPO. FB plans to appeal the ruling.
SunEdison, Inc. (SUNE) shares rose 4.58% to $5.25 in early trading after the company announced today that its wholly-owned subsidiary, Seller Note, LLC, entered into an agreement to extinguish all of its outstanding $336 million aggregate principal amount of 3.75% Guaranteed Exchangeable Senior Secured Notes due 2020.
Shares of Tesla Motors, Inc. (TSLA) are up $2.79 at $239.98 in the first hour of trading as ticker breaks out to new multi-month highs.
Tesla shares reached an all-time high of $286.65 in July 20, 2015, before slipping 17 percent to trade at $237 at the close on Tuesday.
Fairchild Semiconductor International (FCS) — The company acknowledged it has received an offer from an unnamed bidder to acquire all outstanding Fairchild stock for $21.70 per share. The offer values the chip maker at $2.46 billion.
Shares of One Horizon Group, Inc. (OHGI) are skyrocketing by 25.50% to $1.28 on heavy volume at the start of trading on Wednesday morning, after the company announced earlier today that it was upgrading its China mobile voice over IP (VoIP) Aishuo app to allow the purchase of communication stickers. The decision to expand the commercial offering in China was made due to the overwhelming growth of Aishuo with over 12 million downloads in the last 9 months.
“Our deployment in China has exceeded all our internal forecasts and roll-out modeling,” CEO Brian Collins commented. “Now we’re pushing even further across the Chinese social media market with the addition of the massively popular sticker communication feature.”
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