Twitter (TWTR) saw its stock advance in Wednesday’s intraday action, bolstered by some seemingly positive developments in its ongoing legal case against Elon Musk.
Meanwhile, Glaukos (GKOS) also showed intraday strength, soaring on the release of positive clinical trial data. GitLab (GTLB) was another notable gainer, thanks to Street-topping quarterly results.
Looking to the downside, Korn/Ferry (NYSE:KFY) suffered a setback, with the release of earnings news sparking a double-digit percentage decline.
Gainers
Twitter (TWTR) gained ground in intraday trading, boosted by the latest headlines in its legal wrangling with would-be buyer Elon Musk. Shares rose 5% after a judge denied an attempt by Musk to delay a trial related to his attempt to break a takeover deal with the social media giant.
The advance followed a tick higher on Tuesday, when the judge in the case criticized Musk’s attorneys about some document discovery in a hearing related to the discontinued $44B takeover.
Elsewhere, shares of Glaukos (GKOS) jumped almost 25% in intraday action following the release of favorable clinical trial data. The company revealed that its iDose TR eye implant reached the primary endpoints in two clinical trials in patients with open-angle glaucoma or ocular hypertension.
In other news, GitLab (GTLB) climbed 7% in midday trading after beating expectations with its latest financial figures. The software development platform’s loss came in narrower than analysts had projected, with revenue that jumped 74% from last year.
Decliner
Korn/Ferry (KFY) lost ground in the wake of its quarterly results. Shares dropped 10% amid a weak bottom line and a shaky outlook.
While the management consulting firm reported a 19% improvement in revenue, its profit figure failed to meet analysts’ expectations. Meanwhile, for fiscal 2023, the company predicted earnings between $1.34 and $1.50 per share. This compares to analysts’ consensus of $1.50 per share.
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Read More: Hot Stocks: TWTR rises on latest Musk headlines; GKOS clinical data; GTLB, KFY earnings