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Momenta Pharma shares halted as drug application hits speed bumpExternal Link

Momenta Pharmaceuticals Inc. were halted in the extended session Friday after the biotech company said a supplier's compliance issue could delay approval of a higher dose of one of its multiple sclerosis drugs. Momenta shares were halted at $19 after hours. The company said a key supplier of its Glatopa multiple sclerosis drug, Pfizer Inc. , was served with a Food and Drug Administration Warning Letter, meaning something at the Pfizer facility was not in compliance with FDA code. Until the facility demonstrates compliance, Momenta said that approval for its marketing application for a 40 mg. dose of Glatopa is "unlikely" in the first quarter. Pfizer shares declined 0.4% to $33.48 after hours.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 17 Feb 2017 23:41:03 GMT
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Viacom's Paramount CEO Grey negotiating departure: reportExternal Link

Brad Grey, the CEO of Paramount Pictures Corp., is negotiating the terms of his departure with Bob Bakish, the CEO of Paramount's parent Viacom Inc. , according to The Wall Street Journal, which cited a source familiar with the matter. Shares of Viacom were flat in late trading Friday after ending the regular session down 0.4%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 17 Feb 2017 22:04:02 GMT
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Stocks finish higher for week as Dow, Nasdaq score another recordExternal Link

U.S. stocks finished higher for the week Friday as the Dow industrials extended its streak of record closes to seven sessions. The Dow Jones Industrial Average rose 4.28 points, or less than 0.1%, to finish at 20,624.05, as shares of UnitedHealth Group Inc. weighed heavily on the average. For the week, the Dow closed up 1.8%. The S&P 500 index closed up 3.94 points, or 0.2%, at 2,351.16, with telecom and consumer-staples stocks leading the index higher. For the week, the S&P 500 closed up 1.5%. The Nasdaq Composite index finished up 23.68 points, or 0.4%, at a record 5,838.58, for a 1.8% gain on the week.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 17 Feb 2017 21:07:44 GMT
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Software copmany MuleSoft files to go public External Link

Software company MuleSoft Inc. filed to go public Friday. The company reported revenue of $187.7 million in 2016, up from $110.3 million in 2015. It narrowed its net loss to $49.6 million in 2016 from $65.4 million in 2015. The company filed for a $100 million offering, which is likely a placeholder amount, and has applied to list on the New York Stock Exchange under the symbol "MULE." Goldman Sachs & Co., J.P. Morgan and Bank of America Merrill Lynch are the lead underwriters on the offering.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 17 Feb 2017 21:05:03 GMT
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Arista Networks, a Cisco competitor, rockets to record highExternal Link

Arista Networks Inc. rocketed 18% to a record high Friday, following the company's strong earnings report. In after-hours trade Thursday, Arista, which sells communications switches that compete with Cisco Systems Inc. , topped fourth-quarter sales and non-GAAP earnings expectations and provided a revenue outlook for the current quarter well above the consensus estimate. Friday's moved mark Arista stock's second-biggest percentage-gain in history, helping the stock to notch an all-time high. Its shares have climbed more than 34% in the past three months and nearly 98% in the past year, vastly outperforming the S&P 500 , up 7.4% in the past three months and 22% in the past year. Earlier this week, Cisco also reported earnings that topped expectations but revenue declines in its core switching and routing businesses.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 17 Feb 2017 21:01:18 GMT
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