Danaher Jumps on Spinoff Plans, Arconic Sinks on Lower Outlook By

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After-Hours Stock Movers:

Eloxx Pharmaceuticals, Inc. (NASDAQ:) 48% LOWER; announced topline results from the Phase 2 clinical trial of ELX-02 in combination with ivacaftor in Class 1 cystic fibrosis (CF) patients with at least one nonsense mutation. The combination trial of ELX-02 with ivacaftor was well tolerated but did not achieve statistical significance for efficacy endpoints, including changes from baseline in sweat chloride concentration (SCC) and percent forced expiratory volume (FEV1).

IDEAYA Biosciences, Inc. (Nasdaq: NASDAQ:) 13% LOWER; announced that it intends to offer and sell up to $80.0 million of shares of its common stock in an underwritten public offering.

Rhythm Pharmaceuticals (NASDAQ:), Inc. (Nasdaq: RYTM) 11% LOWER; announced a proposed public offering of $100 million of shares of its common stock.

Arconic Corporation (ARNC) 9% LOWER; lowers full-year outlook.

Danaher Corporation (NYSE:) 5% HIGHER; Announced its intention to separate its Environmental & Applied Solutions segment to create an independent, publicly traded company. The new company will be comprised of Danaher’s Water Quality and Product Identification businesses and will be referred to as “EAS” until it is named at a later date. The transaction is intended to be tax-free to Danaher shareholders and expected to be completed in the fourth quarter of 2023.

NextEra Energy (NYSE:), Inc. (NEE) 4% LOWER; announced today that it intends to sell $2.0 billion of equity units. Each equity unit will be issued in a stated amount of $50. Each equity unit will consist of a contract to purchase NextEra Energy common stock in the future and a 5% undivided beneficial ownership interest in a NextEra Energy Capital Holdings, Inc. debenture due Sept. 1, 2027, to be issued in the principal amount of $1,000. The debentures will be guaranteed by NextEra Energy Capital Holdings’ parent company, NextEra Energy, Inc.

APA Corporation (APA) 4% HIGHER; declared a quarterly dividend of $0.25 per share, or $1 annualized. This is a 100% increase from the prior dividend of $0.125. The board of directors also approved a further 40 million shares of additional share repurchase authorization.

Fisker Inc. (FSR) 1% HIGHER; new Buy rating at Needham & Company.

Bumble Inc. (BMBL) 1% HIGHER; Stifel initiates coverage with a Buy rating.

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