Pharming Group stock tumbles after FDA issues Complete Response Letter

Investing.com -- Yext (NYSE:YEXT) stock fell 13% Monday morning after CEO Michael Walrath withdrew his previously announced non-binding proposal to acquire all outstanding shares of the company not already owned by him at $9.00 per share in cash.

Walrath informed the Board of Directors that he was unable to secure the necessary financing at the proposed price. Despite withdrawing the acquisition offer, Walrath assured the board he remains committed to leading Yext as its CEO.

In response to these developments, the company announced plans to repurchase $150 million of its common stock through a "Dutch auction" self-tender offer. The repurchase is expected to commence in February 2026, with specific pricing to be determined based on market conditions at that time. Yext indicated it may utilize debt financing to fund the tender offer.

"I am very bullish on the future of the Yext business as AI continues to re-write the rules of Brand Visibility and discovery. I also believe in our global team and am excited to continue to lead the Company as it executes its strategy," Walrath stated.

The self-tender will be subject to certain conditions, including a financing condition, that must be satisfied prior to the expiration of the offer. The company plans to provide further details when the tender officially commences.

A Special Committee of independent directors, formed in August 2025 to evaluate Walrath’s proposal and other strategic alternatives, recommended the stock repurchase plan after a comprehensive review of options to return capital to stockholders.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- British stocks erased earlier losses to trade higher on Monday afternoon as mining shares rebounded from a sharp sell-off, tracking a recovery in metals prices that also lifted broader European markets after a weak open driven by declines in mining and defence stocks.

Markets across Europe and the UK had initially fallen as a significant drop in metals prices rattled investors.

As of 1300 GMT, the blue-chip index FTSE 100 rose 0.6% and the British GBP/USD fell 0.04% to $1.3691. DAX index in Germany gained 0.9%, the CAC 40 in France rose 0.6%.

UK round up

The Bank of England is expected to maintain its interest rate at 3.75% in its upcoming meeting, according to forecasts from major financial institutions. UBS analysts predict the decision will come after another tight vote, noting that despite declining wage growth, with the private sector at 3.6% year-over-year in November and lower wage growth expectations, the gradual nature of this decline doesn’t warrant an immediate policy response. UBS forecasts two rate cuts in 2026, scheduled for March and June, with risks tilted toward additional cuts. The bank also expects the BoE’s updated projections to show inflation returning to the 2% target by the end of 2026. ING takes a similar view but anticipates a more decisive 7-2 vote in favor of keeping rates unchanged, with Alan Taylor and Swati Dhingra likely to be the dissenting voices voting for a cut. The financial services firm points out that while hiring conditions remain weak and pay growth is slowing rapidly, headline inflation remains above 3%. With memories of the 2022 price spike still fresh, the Bank is expected to maintain its cautious stance. Despite this, ING continues to forecast a March rate cut, viewing the probability as higher than the 20% currently priced into markets.

UK manufacturing activity strengthened at the start of 2026, with the S&P Global UK Manufacturing Purchasing Managers’ Index (PMI) climbing to 51.8 in January from 50.6 in December. The January reading marked a 17-month high for the manufacturing sector and surpassed the preliminary flash estimate of 51.6. This represents the third consecutive month of growth in UK manufacturing activity, as indicated by readings above the 50.0 threshold that separates expansion from contraction. The improvement in January continues the positive momentum seen in the final months of 2025, suggesting a strengthening trend in the UK manufacturing sector as the new year begins.

Rolls-Royce Holdings PLC (LON:RR) has stopped its plans to place a nuclear reactor on the moon by 2029, the Telegraph reported. The company made this decision because it could not find enough potential partners for the lunar project. The aerospace and defense manufacturer had been working on a moon-based nuclear reactor initiative but has now paused these efforts, according to the report.

The UK Treasury is offering its officials up to £100,000 ($136,790) to leave voluntarily as part of a plan to cut hundreds of jobs, the Financial Times reported Monday. Finance Minister Rachel Reeves aims to reduce the Treasury workforce by approximately 300 employees from its current level of about 2,100 staff by 2030, according to people familiar with the plan. The job cuts are part of a broader initiative to reduce administrative costs across Whitehall by 16%.

Gold and silver prices extended their sharp sell-off on Monday, dragging European mining stocks lower as a stronger dollar and profit-taking sapped momentum from the precious metals. The rout in precious metals weighed heavily on miners, with Fresnillo PLC (LON:FRES) leading declines, while Antofagasta PLC (LON:ANTO) also came under notable pressure. Other major mining stocks opened lower, including Anglo American PLC (LON:AAL), Glencore PLC (LON:GLEN), and ArcelorMittal SA (AS:MT). Adding to the pressure on gold and silver, CME Group announced higher margin requirements for precious metals contracts, set to take effect after Monday’s close.

U.K. defence stocks declined Monday after Prime Minister Keir Starmer indicated Britain might join a future European Union defence funding initiative. Starmer stated his government would consider participating in a potential second multi-billion-euro version of the SAFE loans scheme. The announcement comes as ministers prepare for discussions with EU officials in London this week. The news impacted several major defence companies including BAE Systems PLC (LON:BAES), Babcock International Group PLC (LON:BAB), Rolls-Royce Holdings PLC (LON:RR), and Qinetiq Group PLC (LON:QQ).

British house prices rose 0.3% in January, contributing to a 1.0% annual increase compared to January 2025, according to data released Monday by mortgage lender Nationwide Building Society.

In corporate news, Discoverie Group PLC (LON:DSCV) reported a 1% organic sales increase for the three months ended December 31, with group sales up 5% at constant exchange rates. Orders climbed 9% at constant exchange rates and 4% organically, producing a book-to-bill ratio of 1.03x, an improvement from 0.99x in the first half. The company’s previously underperforming Controls operating unit showed improved trends.

3I Infrastructure PLC (LON:3IN) announced it will write down its £212 million investment in German fiber company DNS:NET to zero in its March NAV due to financing challenges in the German fiber sector. The write-down will have a negative impact of approximately 23p per share (5.6%) on NAV, though this is expected to be closer to 18p per share on a net basis after accounting for reduced performance fees.

BFF Bank SpA (BIT:BFF) revealed its CEO is stepping down, with CFO Giuseppe Sica set to replace him as General Manager. The bank is implementing measures to de-risk its portfolio ahead of a planned securitization of non-performing assets, resulting in approximately €72 million in provisions and a €22 million one-off charge. For 2025, BFF forecasts adjusted net income of approximately €150 million, representing a 23% return on equity, while reported net income is expected to be around €70 million.

The Helios Consortium announced an increased possible offer to acquire Cab Payments Holdings PLC (LON:CABP) at $1.15 per share in cash, representing a 21% premium to the thirty-day volume weighted average share price ended January 30. The offer values CAB Payments at approximately $292 million.

FitzWalter Capital Limited announced Monday it does not intend to make an offer for Auction Technology Group PLC (LON:ATG) after the ATG board unanimously rejected its proposed offer of 400 pence per share.

Investing.com – Saudi Arabia stocks were higher after the close on Monday, as gains in the Insurance, Real Estate Development and Cement sectors led shares higher.

At the close in Saudi Arabia, the Tadawul All Share added 1.38%.

The best performers of the session on the Tadawul All Share were Saudi Pharmaceutical Appliances (TADAWUL:2070), which rose 7.26% or 1.96 points to trade at 28.94 at the close. Meanwhile, Rasan Information Technology (TADAWUL:8313) added 6.51% or 8.80 points to end at 144.00 and Knowledge Economic City (TADAWUL:4310) was up 6.25% or 0.77 points to 13.09 in late trade.

The worst performers of the session were Najran Cement Company (TADAWUL:3002), which fell 2.11% or 0.14 points to trade at 6.49 at the close. Al Masane Al Kobra Mining Company CJSC (TADAWUL:1322) declined 2.00% or 2.10 points to end at 103.10 and Saudi Cable Company (TADAWUL:2110) was down 1.88% or 3.20 points to 166.80.

Rising stocks outnumbered declining ones on the Saudi Arabia Stock Exchange by 251 to 83 and 17 ended unchanged.

Shares in Rasan Information Technology (TADAWUL:8313) rose to all time highs; up 6.51% or 8.80 to 144.00.

Crude oil for March delivery was down 4.55% or 2.97 to $62.24 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April fell 4.33% or 3.00 to hit $66.32 a barrel, while the April Gold Futures contract rose 1.65% or 78.11 to trade at $4,823.21 a troy ounce.

EUR/SAR was unchanged 0.02% to 4.44, while USD/SAR unchanged 0.02% to 3.75.

The US Dollar Index Futures was up 0.23% at 97.08.

Investing.com -- Aquestive Therapeutics (NASDAQ:AQST) stock rose 18% Monday despite the company announcing it received a complete response letter (CRL) from the U.S. Food and Drug Administration for its Anaphylm sublingual film, designed to treat Type I allergic reactions including anaphylaxis.

The FDA’s concerns were limited to packaging and administration issues, specifically citing deficiencies in the human factors validation study. These included difficulties opening the pouch and incorrect film placement that could cause safety issues during anaphylaxis. The agency also requested a pharmacokinetics study to understand the impact of any modifications to packaging and labeling.

Aquestive said it believes it can rapidly resolve these deficiencies by modifying the pouch opening, instructions for use, and labeling. The company plans to conduct a new human factors validation study with these modifications and expects to resubmit its application as early as the third quarter of 2026.

"While it is unfortunate to have received a CRL, we believe that, with the clarity we now have from the FDA, we have made significant progress toward approval," said Daniel Barber, President and CEO of Aquestive. "We are encouraged that the issues in the letter are limited to human factors and a supportive PK study, once human factors are addressed."

The company emphasized that the FDA did not question the comparability data submitted as part of the Anaphylm NDA, such as bracketing, repeat dose, and sustainability. There were also no chemistry, manufacturing, and controls issues noted in the CRL.

Aquestive remains well-capitalized and anticipates ending 2026 with significant cash. The company also reiterated plans to submit applications in Canada and Europe by the end of 2026, noting that the European Medicines Agency has indicated no further clinical trials are needed prior to regulatory submission.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- Oracle (NYSE:ORCL) stock rose 3% Monday morning, reversing an earlier 5% slide after Fitch Ratings affirmed the company’s credit ratings despite plans for substantial debt issuance.

The software giant had initially dropped after announcing intentions to raise $45 billion to $50 billion through debt and equity this year, raising concerns about its financial leverage. However, investor sentiment improved after Fitch assigned Oracle’s proposed benchmark size unsecured bonds a ’BBB’ rating while maintaining the company’s Long-Term and Short-Term Issuer Default Ratings at ’BBB’ and ’F2’ respectively, with a Stable outlook.

Oracle plans to use proceeds from the bond offering for general corporate purposes, including capital expenditures, debt repayment, and potential acquisitions. The significant fundraising is largely tied to the company’s elevated capital expenditures for artificial intelligence compute infrastructure, supporting multi-year commercial contracts with AI leaders including OpenAI, xAI, Meta (NASDAQ:META), and Nvidia (NASDAQ:NVDA).

Fitch forecasts Oracle’s EBITDA leverage will exceed 3.5x in fiscal 2026 but expects a decline in fiscal 2027-2028 as incremental revenue and EBITDA from AI compute investments increase. The rating agency projects negative pre-dividend free cash flow exceeding $26 billion in fiscal 2026 and $18 billion in 2027.

The company had approximately $20 billion in cash, cash equivalents and marketable securities available as of the second quarter fiscal 2026, with about 80% of its revenue coming from recurring sources during that period.