Seagate Technology (STX) and Toshiba are competing to acquire TDK's magnetic-head business for hard-disk drives in a deal that could be worth several billion dollars, Bloomberg reported, citing people familiar with the matter.

Shares declined 9.5%, with intraday trading volume rising to over 5.2 million from a daily average of about 4.6 million.

ArriVent BioPharma (AVBP) said its phase 3 trial of firmonertinib did not achieve its primary progression-free survival goal in previously untreated patients with EGFR exon 20 insertion-mutated non-small cell lung cancer.

Shares sank 48% as intraday trading volume soared to over 14.1 million from a daily average of roughly 525,000.

NFT (MI) shares slumped 70% after the company priced a direct offering to raise around $2.55 million.

Intraday trading volume was over 4.6 million shares, versus a daily average of about 2.7 million.

Price: 804.50, Change: -82.59, Percent Change: -9.31