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Microsoft Corporation MSFT stock gained more than 1 percent Wednesday morning. The technology giant is scheduled to report its fourth quarter results after Wednesday's close. Analysts are expecting the company to earn 86 cents per share in the quarter on revenue of $28.4 billion.
Seattle Genetics, Inc. SGEN, a biotechnology company that focuses on therapies for the treatment of cancer, agreed to merge with Cascadian Therapeutics Inc (USA) CASC. Seattle Genetics will pay Cascadian Therapeutics' investors $10 per share, which represents a premium of around 70 percent from Tuesday's closing price of $5.90.
Activision Blizzard, Inc. ATVI gained around 2 percent and traded above its 52-week high of $72.68. The video game developer is scheduled to report its fourth quarter results Feb. 8, but moved higher in sympathy with Electronic Arts Inc. EA whose stock soared 7 percent in reaction to its encouraging earnings report.
Market Vectors Semiconductor ETF SMH could see some volatility and heightened volume after Advanced Micro Devices, Inc. AMD's stock initially fell more than 6 percent after its earnings report on Tuesday. However, by Wednesday morning, the stock more than erased all of the declines and was trading higher by more than 3 percent.
My Size, Inc. MYSZ, an Israel-based company that helps online shoppers better figure out their size for buying apparel, lost more than 15 percent. The company announced a mixed offering of stocks and warrants but didn't disclose the size.
Kingtone Wirelessinfo Solutions Hldg Ltd KONE soared more than 50 percent. The China-based nano-cap mobile enterprise company filed a Form 20-F notification of late filing. The company said it "has encountered a delay in assembling the information and finalizing the registrant's Annual Report for the fiscal year ended September 30, 2017 without incurring undue hardship and expense." The company also announced an asset exchange with C Media Limited.
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