Social media company Snap (SNAP) was trending on Monday morning, with shares popping nearly 9% in pre-market trading.
Snap said on Thursday that more than a trillion selfies had been shared on its Snapchat app last year. Its shares have risen over the past week, though the stock is down more than 24% year-to-date.
The stock sank following the release of its second quarter results in early August, after earnings and revenue missed Wall Street estimates.
Snap’s second-quarter advertising revenue grew at its slowest pace in more than a year, rising roughly 4% to $1.17bn in the second quarter, less than the $1.22bn expected by Wall Street analysts tracked by Bloomberg.
Meanwhile, adjusted earnings per share of $0 were below the $0.02 expected, while the social media platform’s quarterly revenue of $1.34bn was a touch less than the $1.35bn expected by Wall Street analysts, according to Bloomberg data.
Pharmaceuticals giant Pfizer (PFE) was in focus on Monday morning, after the Financial Times reported that the company was closing in on a potential $7.3bn takeover of anti-obesity drug developer Metsera (MTSR).
The FT reported that Pfizer would pay Metsera $47.50 in cash per share and a further $22.50 if certain performance milestones are met as part of the deal, citing people familiar with the matter.
The sources reportedly said that an acquisition could be announced as early as Monday, providing it didn't come up against any last minute issues.
Reports of the deal come as competition intensifies in the lucrative weight-loss drug market.
Spokespeople had not responded to Yahoo Finance UK's request for comment at the time of writing.
Pfizer shares were little changed in pre-market trading on Monday, while Metsera stock surged nearly 24%.
Shares in India's Tata Consultancy Services (TCS.NS) fell 3% on Monday, after the US president, Donald Trump, announced a hike in the cost of H-1B visas for skilled workers.
Trump signed a proclamation on Friday putting a $100,000 application fee on H-1B worker visas. Around 70% of H-1B visa holders in the US are Indian, many of whom are employed through Indian IT companies, according to a Bloomberg report.
White House press secretary Karoline Leavitt clarified in a post on X on Saturday that the charge was not an annual but a one-time fee.
“Those who already hold H-1B visas and are currently outside of the country right now will NOT be charged $100,000 to re-enter,” she said.
“This applies only to new visas, not renewals, and not current visa holders.”
