US stocks are seen starting lower on Friday as the markets focus on trade wars and the US jobs report.
Ahead of the bell, Biogen Inc (NASDAQ:BIIB) is a stock making waves and up almost 14% to US$339.88
It comes as the group, along with Japanese partner Eisai Co revealed that an Alzheimer’s drug showed positive results in a large mid-stage clinical trial, raising hopes for a treatment for the brain disease.
This was a phase II study of the drug called BAN2401 and full results of the trial are yet to be released.
BREAKING: Biogen reports positive results with Alzheimer’s drug, reviving hopes for once-failed treatment https://t.co/LqJovshubK
— STAT (@statnews) 5 July 2018
Elsewhere, PriceSmart Inc (NASDAQ:PSMT) shares shed 8.46% to US$85.50 after the warehouse club's quarterly earnings missed Wall Street estimates.
The firm reported fiscal third-quarter net income of US$18.7mln, or 61 cents a share, versus US$18.8mln, or 62 cents a share, a year ago.
Elsewhere, Aegean Marine Petroleum Network Inc (NYSE:ANW) was a notable riser , up almost 19% in pre-market at US$2.41.
Energy trader Mercuria Group has agreed to provide a US$1bn trade finance facility to the company.
Aegean has undergone a major leadership change this year after losses prompted an activist investor revolt to sever ties with the company founder, shipping and oil tycoon Dimitris Melissanidis.
Big bank Wells Fargo & Co (NYSE:WFC) added 0.89% to stand at US$55.73 before the bell after it announced the sale of a majority stake in The Rock Creek Group, LP to its founder Afsaneh Beschloss, and the Rock Creek team. The sale is expected to be concluded by the end of next month (August).