Markets were ticking higher Wednesday after a solid private sector jobs report for the month of March, offsetting pre-market losses due to looming tariffs.
Roche's MUSETTE trial found no additional benefit of high-dose Ocrevus over the 600 mg IV dose, reaffirming its efficacy and safety for relapsing multiple sclerosis.
Shares of electric vehicle manufacturer Rivian (NASDAQ:RIVN) fell 6.9% in the morning session after the company reported weak first-quarter vehicle deliveries of 8,640 units, marking a 36% decline compared to the same period in the previous year. While the delivery figure matched both internal guidance and market expectations, the sharp drop hinted at demand and/or production challenges.
The company also reaffirmed its full-year 2025 delivery guidance of 46,000 to 51,000 vehicles. However, the lack of an upward revision likely dampened investor sentiment.
Shares of bank software company nCino (NASDAQ:NCNO)
fell 34.3% in the after-market session after the company reported weak fourth quarter 2024 (fiscal 2025) results as its revenue and EPS guidance for next year fell short of Wall Street's estimates. The quarter was underwhelming, with sales roughly in line with expectations, while earnings missed by a wide margin. The results revealed a continued struggle to turn a profit and manage cash burn, while the guidance suggested a sharp slowdown in growth. Overall, this was a softer quarter.
Shares of outdoor specialty retailer Sportsman's Warehouse (NASDAQ:SPWH) jumped 109% in the morning session after the company reported impressive fourth quarter 2024 results, which blew past analysts' revenue, EPS, and EBITDA expectations.
BioMarin's Phase 3 trial shows Palynziq significantly reduces blood Phe in adolescents with PKU. The company plans a regulatory submission for label expansion.
SM Energy expects Q1 oil volumes to slightly exceed guidance, with estimates at 103.0 MBo/d. Second-quarter production is projected to rise 6% quarter-over-quarter, aligning with the company's full-year target of 107 MBo/d. With improved cash flow and EBITDA forecasts, SM prioritizes debt reduction over share buybacks.
Innovation Beverage Group Limited (NASDAQ:IBG) stock is soaring on Wednesday after the company announced a distribution deal with Republic National Distribution Company (RNDC).
