KaloBios Pharmaceuticals (KBIO) skyrocketed 649% to 15.50 in after-hours action following news that Turing Pharmaceuticals CEO Martin Shkreli bought 1.2 million shares of KaloBios. KaloBios topped 17 briefly. KaloBios had 4.1 million shares outstanding as of Aug. 7. Shares were bought Monday-Tuesday at prices from 61 cents to $2.43. On Friday, KaloBios said it would wind down its operations and liquidate assets. Shkreli gained notoriety recently
The pioneer in customer relationship management software and software as a service (SaaS), Salesforce.com (CRM) said Wednesday that it pushed third-quarter adjusted earnings up 50% to 21 cents a share on revenue of $1.71 billion, up 24%, beating Wall Street estimates. That is typical of the company, but it was easier said than done, as Salesforce was building upon tough comparisons. A year earlier, Q3 earnings rose 56% and sales 29%. And its Q2
Microsemi (MSCC) and Apple (AAPL) supplier Skyworks Solutions (SWKS) grappled again Wednesday for chipmaker PMC-Sierra (PMCS) amid frenzied industry consolidation that also saw On Semiconductor (ON) agree to buy Fairchild Semiconductor (FCS). On Semiconductor put up a $2.4 billion bid for Fairchild Semiconductor, announced early Wednesday. On Semiconductor stock fell 7.9% in the stock market today on the news, while Fairchild stock was up 8.5%,