By Connor Hart
Cognizant Technology Solutions said it has been constructively engaging with Mantle Ridge, an activist firm that has built up a more than $1 billion stake in the company. Mantle Ridge believes shares of the tech-services firm are undervalued and has been privately engaging with Cognizant about its progress on boosting the share price, The Wall Street Journal reported, citing people familiar with the matter. Shares rise 5.2%, to $87.54, in after-hours trading.
Mineralys Therapeutics said it plans to release data from two recent trials involving lorundrostat, a drug the biopharmaceutical company is developing as a treatment for high blood pressure. Shares gain 12%, to $11.82, in postmarket trading.
PDF Solutions closed a $130 million acquisition and entered into a new credit agreement. The company, which provides data solutions for the semiconductor and electronics industries, said its acquisition of SecureWise will significantly expand its manufacturing connectivity network. It also entered a credit agreement that provides for a $45 million revolving credit facility, as well as a $25 million term loan facility. Shares fall 6.9%, to $20.42, in after-hours trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 07, 2025 18:28 ET (23:28 GMT)
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