Micron [MU] - Last Close: $82.05
Micron is trending on an upbeat earnings report.
The chipmaker reported better-than-expected fiscal Q2 adjusted earnings late Tuesday of $2.14 per diluted share, marking a sharp improvement from the year-earlier quarter's $0.98 per share earnings. Analysts expected EPS of $1.98 for the quarter.
Revenues came in at $7.79 billion, also topping the Wall Street target of $7.54 billion. The company's fiscal Q3 forecast of $8.5 billion to $8.9 billion also surpassed analysts' expectation of $8.16 billion.
MU is leading the S&P 500 with a 4.0% gain.
Adagio Therapeutics [ADGI] - Last Close: $3.85
Adagio Therapeutics is moving higher on upbeat clinical data.
The clinical-stage biopharmaceutical company announced today that Phase 2/3 studies of its investigational antibody ADG20, or adintrevimab, met its primary endpoints as a potential COVID-19 treatment.
Adagio said the trials tested ADG20 as a pre- and post-exposure prophylaxis and as a treatment for the disease. The trials showed the drug candidate produced a reduction in symptomatic cases of COVID-19 against placebo.
The company said it plans to seek final approval from the US Food & Drug for emergency use of the drug in the second quarter for both prevention and treatment of COVID-19.
ADGI is trading actively with a 71.4% gain in the premarket.
