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Everbridge prices IPO at $12 a share

Everbridge Inc., an emergency mass-communication software platform, priced its initial public offering at $12 a share Thursday evening, in the midpoint of its expected range. Everbridge seeks to raise $90 million by offering 7.5 million shares. The company will trade on the Nasdaq under the symbol “EVBG.” Credit Suisse and BofA Merrill Lynch are jointly managing the deal. Everbridge is the first of four upcoming tech IPOs, which will include The Trade Desk, Gridsum and Apptio.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Novavax shares plummet more than 80% after vaccine trial fails

Novavax Inc. shares plummeted in the extended session Thursday after the vaccine company said one of its lung infection vaccines did not meet endpoints in a late-stage clinical trial. Novavax shares plunged 84% to $1.30 on volume of more than 16 million shares. The company said its study in older adults for a vaccine against respiratory syncytial virus, which can cause bronchitis and pneumonia, did not meet primary or secondary clinical trial goals.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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DepoMed shares jump on report drugmaker preparing sale

Shares of DepoMed Inc. rose more than 9% late Thursday after Reuters reported the drugmaker is readying a sale. Negotiations with potential buyers are expected to start right after the company clarifies patent issues around one of its major drugs, the painkiller Nucynta, according to the report. Activist investor Starboard has called for DepoMed to pursue such an avenue and earlier this year also called for a board overhaul at DepoMed. The shares ended the regular session up 1.9% at $21.24, then topped $23 in after-hours trading.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Embattled Nevada housing agencies respond to allegations of wasted millions

A recent bombshell report from a federal watchdog suggested that the agency in charge of Nevada’s portion of the government’s Hardest Hit Fund wasted $8.2 million that should have funded the program’s administration costs, while at the same time, drastically cutting the number of struggling homeowners admitted to the program. Now, the agency in question is responding to those charges, and claiming that the amount of wasted money is far less than the watchdog suggests – $8 million less, to be exact. …read more

From:: Real Estate Wire

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Mortgage Rates Rise, Likely to Stay Put

The latest weekly average for long-term rates on residential loans saw an increase, and there’s a good chance they will stay there.

For the week ended Sept. 15, thirty-year fixed rates averaged 3.50 percent in Freddie Mac’s Primary Mortgage Market Survey.

The 30 year climbed higher from a week prior, when it averaged 3.44 percent, but was down from 3.91 percent one year previous.

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From:: Financing

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Deutsche Bank shares drop after report of $14 billion fine

Deutsche Bank AG shares fell in the extended session Thursday following a report that the Justice Department was proposing the bank pay $14 billion in fines to resolve a probe into mortgage securities. Deutsche Bank shares slipped 6.8% to $13.75 after hours. The figure is preliminary, according to The Wall Street Journal, and has been discussed between the bank and government lawyers in recent days.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Aerie Pharma announces secondary offering after big stock jump

Aerie Pharmaceuticals Inc. said late Thursday it was launching a secondary offering of its shares. Aerie shares surged 45% to close at $30.61 Thursday after the drug discovery company announced Wednesday its eye treatment Roclatan performed well in clinical studies. Aerie said it plans a secondary offering of $50 million in shares, with Cantor Fitzgerald as the sole underwriter, to help finance commercialization of its other eye treatment Rhopressa, Japanese clinical trials, and to start work on a manufacturing plant. Aerie shares rose 0.9% to $30.87 after hours.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Apollo Investment shares rally on stock buyback increase

Apollo Investment Corp. shares rallied late Thursday after the financial services company said it is increasing its stock buyback program by $50 million to $150 million. Shares of Apollo rose 3% after hours following a 0.9% gain during the regular session. For the year, the stock is up 15%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News