By Ben Glickman
Nike reported first-quarter profit which surpassed analysts’ estimates. The sportswear company successfully sold off some of its stock, reducing its inventory by 10% compared to a year earlier. Shares rise 7.6%, to $96.45, after-hours.
Novo Integrated Sciences secured a $1 billion master collateral transfer deal, which it said would meet its capital requirements for the next 15 years. Chief Executive Robert Mattacchione said the agreement would allow the healthcare company to pursue its goals for international growth. Shares more than double to 43 cents.
PTC Therapeutics said it had trimmed 25% of its workforce as part of cost-reduction efforts. The company previously said in May that it would cut 8% of its employees, but the further workforce reductions will result in anticipated savings of 20% of annual operating expenses. Shares rise 4.8%, to $23.74, after-hours.
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