Stock futures inched lower in premarket activity on Thursday as market participants await key jobs data.
BlackBerry (NYSE:BB) shares surged over 4% after the company announced plans to separate its Internet of Things (IoT) and cybersecurity businesses into two independently operated entities. The decision follows a strategic assessment of its portfolio conducted in May with Morgan Stanley and Perella Weinberg Partners.
Orchard Therapeutics (NASDAQ:ORTX) jumped 94% after Kyowa Kirin (OTCPK:KYKOF), a specialty pharmaceutical company based in Japan, announced its acquisition of Orchard Therapeutics for approximately $387.4M in cash. Orchard shareholders will hold an additional contingent value right of $1.00 per ADS, totaling $17.00 per ADS, or approximately $477.6M.
Shares of MaxCyte (NASDAQ:MXCT) fell more than 20% after the cell-engineering business disclosed lower-than-expected preliminary Q3 sales results and updated its 2023 outlook. The company now forecasts overall Q3 sales to be between $7.8M and $8M, down 25% to 27% Y/Y, with a consensus of $11.3M. Revenue of $34M to $36M in FY2023 is likewise much lower than the expectation of $45.1M.
