Yellow, a prominent trucking company, is reportedly in discussions with multiple parties regarding the sale of Yellow Logistics, its highly acclaimed third-party logistics broker. Recognized as one of the fastest growing 3PLs in the industry, the potential sale comes at a time when Yellow is preparing to file for bankruptcy. The news of this development had a significant impact on the company’s stock, causing it to plummet by 44% during trading hours. Subsequently, after the market closed, shares experienced a modest 11% increase, reaching a value of 63 cents.
Siga Technologies Secures Multi-Million Dollar Contract for Smallpox Treatment Delivery
Siga Technologies has received confirmation that the U.S. Department of Health and Human Services has exercised procurement options for the delivery of oral TPOXX, valued at approximately $113 million, and IV TPOXX, amounting to approximately $25 million. These treatment courses are specifically designed for both adults and children who have contracted human smallpox disease caused by the variola virus. Siga Technologies plans to complete the delivery of the oral treatment by 2023 and the IV treatment by 2024. Following this positive news, the company experienced a remarkable surge in shares, with an impressive 21% increase during after-hours trading to reach $6.15.
Coursera Reports Improved Financial Performance for Q2
Coursera, a leading online learning platform, announced its second-quarter financial results, which showcased a notable improvement from the previous year. The company reported a reduced loss per share of 21 cents, compared to 34 cents in the same quarter of the previous year. Additionally, Coursera’s revenue displayed substantial growth, rising from $124.7 million to $153.7 million during this period. With these positive developments, Coursera increased its revenue outlook for 2023 by $15 million, now anticipating a range of $617 million to $623 million. Investors responded positively to this news, leading the company’s shares to experience a significant surge of 12% during postmarket trading, ultimately reaching a value of $14.60.