Another 3M deal: Shares in 3M jumped more than 4% Friday to $171.47. The Maplewood-based manufacturing giant reportedly may sell its drug delivery systems unit.
Market review: Buying steelmaker sends Cleveland-Cliffs shares down
Shares in 3M jumped more than 4% Friday to $171.47. The Maplewood-based manufacturing giant reportedly may sell its drug delivery systems unit.
By News services
December 7, 2019 at 6:12AM
Biotech collapse: Sage Therapeutics Inc. shares declined 58% to $62.35 Thursday after the company's closely watched lead medicine, SAGE-217, failed to hit a key mark in a critical trial in patients with major depressive disorder. The stock drop slashed the firm's market value by more than $4 billion. Shares closed Friday at $64.46.
Metal marriage: Cleveland-Cliffs plunged 12% to $7.41 Tuesday after the iron ore miner said it will pay $1.1 billion for steelmaker AK Steel. Domestic demand has slumped as oil and gas drillers pull back on purchases of steel pipe. Cliffs shares closed Friday at $8.14. AK Steel, which rose 4.5% to $3.02 on the news, closed Friday at $3.23.
Earnings bounce: Slack Technologies shares rose 4.2% to $22.55 Thursday after it posted earnings for the third quarter that easily beat estimates on profit and revenue and its guidance met expectations. Shares closed Friday at $22.50.
Expedited moves: Expedia Group rose 6.2% to $105.52 Wednesday after it shook up its leadership. Both its CEO and CFO resigned at the request of the company's board, effective immediately. The company also expanded its stock buyback program. Shares closed the week at $107.58.
Dressed for success: Lands' End vaulted 21% to $14.24 Tuesday after the clothing maker reported surprisingly good fourth-quarter earnings and raised its profit forecast for the year. Shares closed the week at $15.05.
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