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Navitas Soars; AstraZeneca Invests $2 Billion in Summit; FICO Drops
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Navitas Semiconductor (NVTS) shares are up, after the company said it was awarded the ALATTIS program by the US Army Research Laboratory to develop next-generation 10 kV silicon carbide power semiconductor technology for defense applications.
- AstraZeneca (AZN) is investing $2 billion in US biotech Summit Therapeutics (SMMT) to collaborate on a promising new cancer medicine that could be combined with the British drugmaker’s other treatments.
- Fair Issac, the credit score company known as FICO, slumps in premarket trading after Federal Housing Finance Agency Director Bill Pulte announced a move that makes it easier for lenders to adopt VantageScore. According to analysts, this will increase competition while pressuring FICO’s market share and pricing power.
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