"Social media company Snap ( SNAP) was trending on Monday morning, with shares popping nearly 9% in pre-market trading. Snap said on Thursday that more than a trillion selfies had been shared on its Snapchat app last year. Its shares have risen over the past week, though the stock is down more than 24% year-to-date. The stock sank following the release of its second quarter results in early August, after earnings and revenue missed Wall Street estimates."
"Pharmaceuticals giant Pfizer ( PFE) was in focus on Monday morning, after the Financial Times reported that the company was closing in on a potential $7.3bn takeover of anti-obesity drug developer Metsera ( MTSR). The FT reported that Pfizer would pay Metsera $47.50 in cash per share and a further $22.50 if certain performance milestones are met as part of the deal, citing people familiar with the matter."
Snap shares jumped nearly 9% in pre-market trading after Snapchat reported that more than a trillion selfies were shared on the app last year. The stock remains down over 24% year-to-date after sliding on second-quarter results that missed estimates. Snap's Q2 advertising revenue rose about 4% to $1.17bn versus $1.22bn expected; adjusted EPS was $0 versus $0.02 expected and quarterly revenue was $1.34bn versus $1.35bn expected. Pfizer moved toward a potential $7.3bn takeover of Metsera with $47.50 cash plus $22.50 in milestone payments, sending Metsera shares sharply higher. Shares of Tata Consultancy Services fell roughly 3% after a US H-1B visa cost increase was announced.
Read at Yahoo Finance
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