Stocks to Watch: Nike, Novo Integrated, PTC Therapeutics
29 September 2023 - 2:12AM
Dow Jones News
By Ben Glickman
Nike reported first-quarter profit which surpassed analysts'
estimates. The sportswear company successfully sold off some of its
stock, reducing its inventory by 10% compared to a year earlier.
Shares rise 7.6%, to $96.45, after-hours.
Novo Integrated Sciences secured a $1 billion master collateral
transfer deal, which it said would meet its capital requirements
for the next 15 years. Chief Executive Robert Mattacchione said the
agreement would allow the healthcare company to pursue its goals
for international growth. Shares more than double to 43 cents.
PTC Therapeutics said it had trimmed 25% of its workforce as
part of cost-reduction efforts. The company previously said in May
that it would cut 8% of its employees, but the further workforce
reductions will result in anticipated savings of 20% of annual
operating expenses. Shares rise 4.8%, to $23.74, after-hours.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
September 28, 2023 19:57 ET (23:57 GMT)
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