Shares of Koninklijke Philips N.V. (PHG) surged in pre-market trading today following the release of its impressive first-quarter results. The company also reached a resolution in the respironics personal injury and medical monitoring litigation in the US, with a settlement of $1.1 billion. As a result, PHG stock skyrocketed by 37.1% to $28.87 during pre-market hours.
Apart from Philips, numerous other companies experienced significant stock movements in the pre-market. Inno Holdings Inc. (INHD) saw a remarkable 33.8% gain, climbing to $0.8410. Ryde Group Ltd. (RYDE) followed closely with a 25.9% rise to $4.18 after facing an 8% dip on Friday. Akanda Corp. (AKAN) also performed well, advancing by 21.4% to $0.1250, continuing its trend from Friday when it gained over 12%.
Ocean Biomedical Inc. (OCEA) surged by 15.7% to $1.55, extending its 7% gain from Friday. Wisekey International Holding AG – ADR (WKEY) witnessed a 15.2% increase, reaching $2.36, attributed to its subsidiary, WISeSAT.Space, strengthening its partnership with the Swiss Armed Forces in the space domain.
SolarBank Corp (SUUN) gained 14.1% to $6.78, while Fulton Financial Corporation (FULT) jumped by 10.8% to $17.30. This follows the acquisition of Republic First Bancorp by Fulton Bank, a subsidiary of Fulton Financial Corp. ImmunityBio, Inc. (IBRX) shares increased by 10.6% to $8.13, buoyed by its Friday surge of around 44% after announcing favorable overall survival results from its QUILT 3.055 study.
Tesla, Inc. (TSLA) also saw a 7.3% pre-market gain, reaching $180.54. However, it was reported that Tesla plans to lay off 693 employees in Nevada as part of its earlier announced 10% workforce reduction. The company also increased the price of its new Model 3 Performance in the US by $1000 shortly after its launch.
On the declining side, Bakkt Holdings, Inc. (BKKT) plunged by 92.2% to $0.78 due to its recently announced 1-for-25 reverse stock split. Clever Leaves Holdings Inc. (CLVR) shares experienced a 56.8% drop to $1.78 following the announcement of voluntary delisting of common shares and SEC deregistration.
Addex Therapeutics Ltd (ADXN) faced a 50.3% decline to $7.99 in pre-market trading due to the lack of statistical significance in its ADX71149 Phase 2 epilepsy study. iSun, Inc. (ISUN) fell by 18.9% to $0.1362, and Boqii Holding Limited (BQ) dropped by 16.7% to $0.25 after gaining 6% on Friday.
NuZee, Inc. (NUZE) saw a 16% decline to $1.37, Cyclacel Pharmaceuticals, Inc. (CYCC) fell by 13.3% to $1.30, and Biodexa Pharmaceuticals Plc (BDRX) decreased by 12.3% to $1.14. Nature Wood Group Limited (NWGL) lost 11.8% to $4.45, and mF International Limited (MFI) declined by 10.3% to $2.09 following its previous 78% dip on Friday.