Alphabet, Facebook — Alphabet shares tanked more than 6% after news that the Justice Department was preparing an antitrust lawsuit against Google. According to reports, the probe would look into Google’s search practices and other businesses. Facebook shares also fell 7.5% amid worries of the broader tech sector falling under greater government scrutiny.
Amgen, Mirati Therapeutics — Shares of biotech company Amgen jumped 3.4% after results from a cancer study examining Amgen’s gene therapy drug showed significant reduction in the size of tumors in patients with advanced lung cancer. Promising results also drove shares of Mirati up 31.6% as the biotech company is also developing a drug that targets the same gene mutation.
DuPont — Shares of DuPont jumped 17.8% after a Morgan Stanley analyst initiated coverage of the chemical company with an overweight rating. The analyst said it sees value in DuPont regardless of whether it becomes a “true multi-industry” company or keeps its businesses separated.