Stocks In News (GERN, NOK, AIG, SHLD, BP)
Geron Corporation(NASDAQ:GERN) stock plunged 48.28% to $1.50 in the pre-market hour after the company said it is discontinuing its Phase 2 study of imetelstat in metastatic HER2-negative breast cancer because the median progression-free survival was shorter than the comparison treatment. The company was evaluating imetelstat in combination with chemotherapy drug paclitaxel and comparing it to paclitaxel alone.
Nokia Corporation (ADR)(NYSE:NOK) is in discussions to make Everything Everywhere, the UK’s biggest mobile operator, launch associate only in the U.K. for one of its flagship smartphones, which would be intended to operate on the group’s 4G network.
American International Group, Inc.(NYSE:AIG) shares fell 1.44% to $33.50 in pre-market hour. The U.S. Department of Treasury said that it has launched an offering for $18 billion worth of American International Group common stock as the federal government looks to further slash its stake in the insurer.
In addition to the $18 billion underwritten public offering, par value $2.50 per share, the US Treasury has also granted a 30-day option to the underwriters for the offering to purchase up to an additional $2.7 billion of AIG common stock to cover over-allotments, if any.
Sears Holdings Corporation(NASDAQ:SHLD) announced that its board of directors set the date on which Sears Holdings will distribute transferable subscription rights to purchase shares of common stock of Sears Hometown and Outlet Stores, Inc. on a pro rata basis to holders of Sears Holdings common stock.
BP plc (ADR)(NYSE:BP) shares gained 0.05% to $41.95 in the pre-market hour after Plains Exploration & Production Co announced that it has entered into a definitive agreement to acquire from BP Exploration & Production Inc. and BP America Production Company (BP) all of their interests in certain deepwater Gulf of Mexico oil and gas properties for $5.55 billion.