Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Lexicon Pharmaceuticals (NASDAQ: LXRX) shares are rallying after the company said it has received U.S. Food and Drug Administration (FDA) regulatory feedback that the results of its SOLOIST and SCORED Phase 3 clinical studies can support a new drug application (NDA) submission for an indication to reduce the risk of cardiovascular death, hospitalization for heart failure, and urgent visits for heart failure in adult patients with type 2 diabetes with either worsening heart failure or additional risk factors for heart failure.
Lexicon shares are up 47.20% at $5.77.
Cisco (NASDAQ: CSCO) and Acacia Communications (NASDAQ: ACIA) have announced an amendment to their definitive merger agreement, whereby Cisco will acquire Acacia.
Under the terms of the amended agreement, Cisco will acquire Acacia for $115 per share in cash, or for approximately $4.5 billion. Cisco and Acacia expect to complete the acquisition by the end of the first quarter of 2021.
US Jobless Claims Rise +181K to 965K
Continuing Jobless Claims Rise +199k to 5,271,000
Tesla shares are down 1.34% premarket after the electric vehicle company was asked to recall 158,000 vehicles over touchscreen failures.
Shares of online retailer Boohoo Group PLC (LON: BOO) fell 8.77% despite the company raising its full-year revenue target after recording strong sales during the Christmas shopping period, but investors remained sceptical selling their shares.
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