Lung Function Improves Significantly
Vertex Pharmaceuticals reported strong phase 2 trials for its proposed two-drug cystic fibrosis treatment. The study is ongoing, with more complete data expected in the middle of the year, but investors aren't waiting to jump on the bandwagon. VRTX rockets 56 percent in early action on my tradeMONSTER platform.
Cognizant Lowers Guidance, Earnings Miss
Cognizant Technology Solutions lowered its full-year revenue guidance to $7.34 billion from its earlier $7.53 billion estimate. The earnings outlook was also lowered as demand for outsourcing weakens. CTSH is down 13 percent before the bell.
Westlake Abandons Georgia Gulf Takeover
Westlake Chemical canceled its proposed acquisition of Georgia Gulf and said it would dump the shares it had acquired so far. GGC falls 9 percent in premarket trading.
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