Optical components maker II-VI Inc has offered to buy laser maker Coherent for about $6.4 billion, entering a bidding war for a larger share of a market tipped to benefit from rising adoption of 5G networks and consumer electronics.
Bumble Inc Chief Executive Officer Whitney Wolfe Herd's stake in the women-centric dating app operator was worth nearly $2 billion, as shares rallied for a second straight day after a blockbuster debut on Thursday.
Chinese tech giant Tencent Holdings Ltd said a company executive is being investigated by authorities over allegations of "personal corruption", after a media report said the move was linked to sharing of personal data from its popular WeChat app.
Uber Technologies Inc on Wednesday posted a narrower loss as its ride-hail and delivery businesses rebounded slightly from pandemic lows, and the company said it was well on track to reach its goal of achieving an adjusted profit by year-end.
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(Reuters) - Shares of red-hot cannabis firms plunged by more than one-third on Thursday, marking another short-lived squeeze of short sellers by retail investors aiming to benefit from an expected push to decriminalize marijuana under U.S. President Joe Biden.
FILE PHOTO: Cannabis plants grow inside the Tilray factory hothouse in Cantanhede, Portugal April 24, 2019. REUTERS/Rafael Marchante
Despite gains in premarket trading as European retail investors piled in to the rally, U.S.-listed shares of Tilray Inc and Aphria Inc, the two biggest holdings in the ETFMG Alternative Harvest ETF, closed down 49.7% and 35.8%, respectively. Tilray had soared more than 148% while Aphria has surged nearly 58% this week through Wednesday’s close.