Yahoo! Inc. (YHOO) shares increased more than 2% to $41.85 per share in pre-market trading on Wednesday after the company confirmed plans to spin off Alibaba holdings despite IRS comments that might complicate the tax status of the move.
Sarepta Therapeutics Inc (SRPT) shares soared over 50% to $24.60 in pre-market trading after the pharmaceutical company announced that it will begin the process of gaining regulatory approval for eteplirsen; a therapy for Duchenne muscular dystrophy.
Time Warner Cable Inc (WC) shares increased 2.5% to $162 in pre-market trading following news that the cable company has been approached with a takeover offer from French-owned Altice SA. TWC is currently valued at $45 billion and recently called off a merger with Comcast. Neither TWC nor Altice provided a comment.
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Etsy Inc (ETSY) shares fell more than 16% to $17.52 after the platform for craft goods reported huge quarterly losses. Etsy posted a loss seven times wider than the same quarter last year and missed Wall Street’s revenue estimate. Etsy went public in April with an IPO price of $16.
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