Alphabet Inc (NASDAQ:GOOGL), Sangamo Therapeutics Inc (NASDAQ:SGMO), Symantec Corporation (NASDAQ:SYMC) and Twenty-First Century Fox Inc (NASDAQ:FOXA) shares are worth watching on Thursday. Investors would be reacting to the news announced by these companies.
- Alphabet Inc (NASDAQ:GOOGL) has struck a deal to buy Owlchemy Labs for undisclosed terms. This is a virtual-reality studio that was behind Job Simulator, an early-adopter hit game. The search engine giant believes that its acquisition of a studio would provide interactive experiences that re intuitive, feel natural and responsive. For its part, Owlchemy indicated that it would continue creating content for other platforms like PlayStation VR and Oculus Touch besides Google’s Daydream.
- Sangamo Therapeutics Inc (NASDAQ:SGMO) shares jumped 44.83 percent in extended hours trading on Wednesday after the company announced its collaboration with Pfizer Inc. (NYSE:PFE) to develop gene therapies for the treatment of hemophilia A. The agreement terms envisaged the company getting upfront payment of $70 million and a maximum of $475 million in milestone payments besides tiered double-digit royalties on net sales. The company would be responsible for conducting Phase 1 / 2 trial of SB-525 apart from some manufacturing activities. On the other hand, Pfizer would take care of the subsequent development, research, manufacturing and commercialization. SB-525 is one of the four lead product candidates of the company and expects initiating clinical trial in the current quarter.
- Symantec Corporation (NASDAQ:SYMC) shares could come under pressure after the company provided downbeat guidance for the first quarter. The company sees an EPS of 28 – 32 cents, which is lower than the estimates of 38 cents. Similarly, the company guided revenue between $1.185 and $1.215 billion while analysts look for $1.271 billion. For the fourth quarter, its EPS of 28 cents and revenue of $1.18 billion came in line with the expectations. The stock dropped 7.06 percent in after-hours trading on Wednesday to reflect investors’ sentiments.
- Twenty-First Century Fox Inc (NASDAQ:FOXA) delivered earnings of 54 cents a share in the third quarter that was ahead of expectations of 48 cents. However, its revenue of $7.56 billion, which advanced 4.6 percent from the previous year period, fell short of estimates by $70 million. Following this, the stock traded down 3.05 percent in extended hours trading on Wednesday.