Frontline — Shares of the shipping company jumped 26% after Frontline announced that it was terminating a deal to combine with Euronav. The plan had called for Frontline to acquire Euronav in an all-stock deal. CEO Lars Barstad said in a statement that both shippers “are already enjoying economies of scale.”
Bumble — The dating app stock rose 5.9% following an upgrade to overweight from sector weight at KeyBanc Capital markets. The firm said it’s growing more confident in the company’s ability to capitalize on online dating trends and grow revenues.
Illumina — Shares dropped 5% in midday trading. The gene-sequencing technology company appealed an EU antitrust order blocking its merger deal with biotech firm Grail on Tuesday. A day prior, Illumina said it expected its 2023 fiscal year consolidated revenue to come in between $4.9 billion to $5.035 billion, versus a StreetAccount estimate of $5.005 billion.
CureVac — The biopharmaceutical company gained nearly 14% after saying it plans to advance patient trials of its mRNA vaccines for Covid-19 and the flu. CureVac also announced Sanofi veteran Alexander Zehnder will become CEO in April.
