China bounce

Beyond Meat shares rose 6.7% to $84.40 Tuesday after striking a deal with Starbucks to enter the China market. Shares closed the week at $108.78.

Sales slump

International Business Machines Corp. shares fell 5.5% to $113.83 Tuesday after the company said in reporting earnings that it had withdrawn its 2020 annual forecast as clients shift priorities toward saving capital in recent weeks because of COVID-19. Shares closed Friday at $124.72.

Healthy appetite

Snap shares rose 24.5% to $15.50 Wednesday after the company reported user growth for the first quarter that beat expectations as it gained users of its photo sharing app Snapchat due to pandemic stay at home orders. Shares closed the week at $16.

Touting therapy

Mesoblast shares jumped 140% to $15.45 Friday after the Australia-based biopharma company said in a news release that its allogeneic cell therapy dramatically increased survival in ventilator-dependent COVID-19 patients.

Drug setback

Gilead Sciences fell 4.3% to $77.78 Thursday after the Financial Times said a potential antiviral drug for the virus flopped in a clinical trial, citing World Health Organization documents. Shares closed the week at $79.64.

Drug delay

Biogen shares dropped 11.4% to $291.38 Wednesday on news it would delay filing for marketing approval of its experimental Alzheimer’s drug to the third quarter. The company also released better than expected earnings. Shares closed the week at $297.80.

 

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