Twitter (TWTR): Shares closed at the highest level since November after Elon Musk agreed to buy Twitter at its original price of $54.20 per share, according to a filing with the SEC. Musk initially offered to buy Twitter in April, before putting the deal on hold in May over issues related to the number of bot users on the platform.
Hindenburg Research closed its long position in Twitter on Tuesday.
Amylyx Pharmaceuticals (AMLX): Shares fell in extended trading after the company announced a public offering of 6 million shares of common stock. The news comes after the FDA announced the approval of its ALS drug, Relyvrio, last week. Shares have surged 72% in the past month.
AutoZone (AZO): The company authorized an additional $2.5 billion stock buyback in connection with its ongoing share repurchase program. AutoZone’s board started its repurchase program in1998 and has since authorized a total of $33.7 billion in share repurchases.
AirBNB (ABNB): Bernstein is bullish on AirBNB’s growth potential. Analyst Richard Clarke initiated coverage on the stock with an outperform rating and $143 price target, writing in a note to clients that there is “little reason why AirBNB can’t become a meaningful seller of other travel verticals.” The stock has fallen 33% since the start of the year.
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