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Amicus Reports Disappointing Tests Results for Pompe Disease Drug

Amicus Therapeutics shares tanked Friday as analysts downgraded the biopharmaceutical company after it reported disappointing test results for its Pompe disease drug. Pompe disease is a rare degenerative disorder that causes progressive muscle weakness. It can lead to death by disabling heart and skeletal muscles. Amicus said Phase 3 results for its AT-GAA treatment didn’t produce statistical significance in a primary endpoint. To be sure, some analysts said the Food and Drug Administration may approve AT-GAA based on…

HubSpot Surges After Strong Earnings, Analyst Upgrade

HubSpot shares soared Friday as analysts raised their ratings and price targets for the customer relationship management platform after a strong earnings report. On Thursday after the close, HubSpot reported adjusted earnings of 40 cents per share in the fourth quarter, down from 45 cents from last year, but crushing the Zacks analyst consensus of 23 cents. Revenue jumped 35% to $252.1 million. HubSpot stock recently traded at $517.00, up 19.74%. It skyrocketed 432% in the six months through Thursday amid the explosion…

Virgin Galactic May Be Able to Launch Saturday, FAA Suggests

Virgin Galactic shares rose sharply Thursday after a Federal Aviation Administration notice suggested that the company's SpaceShipTwo Unity flight could still launch as early as Saturday. Virgin, founded and partly owned by British entrepreneur Richard Branson, said earlier this month that a new flight window for the vessel would start Saturday. Its planned flight on Dec. 12 was ditched when the onboard computer halted ignition of the rocket motor. The FAA announced that airspace around Virgin Galactic’s takeoff point…

Twitter Explores Subscription Models for Users

Twitter is exploring ways to help users monetize their social equity on the platform through new content features or payments from followers or a regular subscription as the social media website looks to curtail its dependence on advertising revenue. Twitter's chief executive Jack Dorsey made these remarks during a tech conference on Wednesday, Bloomberg reported. The company is expected to begin testing some subscription offerings later this year. “The first thing we want to focus on is that economic incentive to…

GM to Invest $100 Million in Plants to Boost Truck Transmission Capacity

General Motors said Thursday it will invest a total of $100 million at two of its plants to boost full-size truck transmission capacity amid strong demand for the vehicles. The company said it will invest $93 million at its Romulus, Mich., propulsion plant and $7 million at its Bedford, Ind., casting operations. The Romulus plant builds V-6 engines and 10-speed transmissions used in a variety of Chevrolet, Buick, GMC and Cadillac vehicles, GM said. The Bedford facility aluminum die casting facility produces…

PayPal Says It’s Cooperating With CFPB Investigation Into Venmo

PayPal Holdings is cooperating with consumer watchdog the U.S. Consumer Financial Protection Bureau (CFPB) in a civil investigation relating to to its Venmo fund transfer app. The CFPB demanded information for a civil investigation involving Venmo's alleged unauthorized fund transfers and collections processes, according to a PayPal regulatory filing made on Friday. The civil investigative demand (CID) from the CFPB was originally made on Jan. 21, PayPal said. Shares of PayPal were down 1.7% to $265.89 on Friday…

Individual investors are back — here’s what it means for the stock market

Look who’s back. After a long absence, active individual investors have returned. While breakneck and foolhardy trading activity in shares of GameStop Corp. GME, +19.20% has dominated the headlines, unanswered questions remain as to whether a broader resurgence in retail trading will last and what it will mean for the stock market as U.S. benchmark indexes march to all-time highs. The comeback It’s been a long time coming. The stock market put in a historic rally over the past decade “without any prominent retail…

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