Twitter named co-founder Jack Dorsey as CEO. As we reported last week, there was speculation Dorsey would be named chief of the social media firm. He has been interim CEO since July when former chief Dick Costolo left the company. Dorsey will also remain the head of Square, a payments start-up he co-founded. Twitter shares up about seven percent on the news to $28.15.
Spark Therapeutics announced a successful stage 3 gene therapy trial that treats night blindness. The company plans to file for approval from the FDA next year for what could become the first gene therapy treatment in the United States. Shares of the biotech firm soaring today 20 percent to $53.02.
Activist investor Starboard Value increased its stake in the security company Brinks. Starboard is already the company’s largest shareholder and hopes to turn around Brinks’ poor financial performance. Brinks shares popped about 4.5 percent on the news ending the day at $29.70.
The Container Store
The Container Store announcing earnings and revenue that missed estimates after the close. This as margins narrowed and expenses increased. Shares were initially lower in after-hours trading. During the regular session the stock was up nearly three percent to $15.57.
The health technology firm Illumina warned investors of lower-than-expected revenue for the third and fourth quarters. The firm blamed disappointing sales in Europe and weakness in the Asia-Pacific region. That sent shares tumbling in initial after-hours trading. During the regular session the stock was off a fraction to $163.17.
Lionsgate & Starz
The LA Times is reporting that Lionsgate and Starz are in advanced merger talks. That combination would create another major media company. The two companies reportedly held high level talks for several months, but no deal is certain. Lionsgate saw its shares pop in initial after-hours trading. During the regular session it was up more than one percent. Starz also rising initially after the close. During the regular session the stock rose four percent.