Stocks making the biggest moves midday: Iovance, The New York Times, Penn Entertainment, JD and more
Check out the companies making headlines in midday trading. Regeneron Pharmaceuticals — Shares of the biotech firm edged less than 1% higher, adding to Wednesday’s gains. The moves follow a judgment in Regeneron’s favor in a West Virginia patent lawsuit against Mylan. BMO analyst Evan Seigerman said the ruling most likely prevents Mylan from launching its biosimilar therapy Eylea until the patents expire. NeoGenomics — Shares of the oncology testing company dropped 18% after a court issued a preliminary injunction barring the company from “making, using, selling, or offering for sale in the United States” its RaDaR technology. The company said it would appeal the injunction. Grand Canyon Education — Shares of the educational services company slid more than 6% after the Federal Trade Commission filed a lawsuit, accusing Grand Canyon Education of deceptive and illegal advertising and telemarketing practices. Penn Entertainment — The casino operator rose more than 6% after Vora Capital Management filed a 13D in a push to designate directors to Penn’s board. NetEase — The Chinese internet stock gained 1.9%. Shares have received a small boost this week after China’s top gaming regulator promised it would “further modify and improve” new guidelines that aimed to target excessive gaming. Coherus BioSciences — The biopharma stock soared 20.45%, adding to its more than 23% from Wednesday’s trading session. Coherus got a boost after the U.S. Food and Drug Administration approved its on-body injection system Udenyca Onbody, which chemotherapy patients can take to prevent infection. JD.com — U.S.-traded shares of the Chinese e-commerce company rose 2.7% Thursday. The gains came after a Bloomberg News report on Wednesday evening that JD.com is preparing to hike pay for its front-line workers. The New York Times Company — Shares were up 2.4% a day after the media company filed a lawsuit against Microsoft and ChatGPT-maker OpenAI, accusing the tech companies of copyright infringement and using the newspaper’s intellectual property without permission to train chatbots. Iovance Biotherapeutics — The biotech stock jumped 18.7%, making up ground after shedding nearly 19% on Wednesday. That sell-off came after the FDA placed a hold on the company’s trial for a non-small cell lung cancer treatment. Boeing — The stock slid less than 1% after the aerospace and defense company urged airlines to inspect its newer 737 MAX airplanes for a possible loose bolt in the rudder control system, the Federal Aviation Administration said Thursday. Boeing recommended these inspections after one international operator discovered a bolt with a missing nut, and the company found another undelivered aircraft with a loose nut. — CNBC’s Alex Harring, Fred Imbert and Jesse Pound contributed reporting. This post has been syndicated from a third-party source. View the original article here.
