Merlin (MRLN) has entered into a securities purchase deal with a fundamental institutional shareholder to raise $80 million of equity capital through a private investment in public equity, the company said Wednesday.
Shares sank 26% following an increase in intraday trading volume to over 1.66 million from a daily average of about 857,000.
Brown-Forman (BF.A) and Pernod Ricard ended discussions over a potential business combination after failing to reach mutually agreeable terms.
JPMorgan downgraded Brown-Forman's shares to underweight from neutral while adjusting its price target to $23 from $27.
Shares of Brown-Forman dropped 10%, with intraday trading volume at over 158,000, versus a daily average of about 253,000.
Robinhood Markets (HOOD) reported Q1 earnings and sales growth below market consensus late Tuesday.
Shares slumped 14% as intraday trading volume soared to more than 53.1 million from a daily average of about 33.0 million.
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