Stocks In News: PTRA, ISEE, BBBY
1:19 pm Tuesday, September 06th, 2022
Proterra (NASDAQ:PTRA) stock is jumping on Tuesday after announcing a multi-year deal to supply electric vehicle (EV) batteries for buses. The vehicle electrification technology company signed a deal with ElDorado National for the EV batteries. This will have the batteries being used in the latter’s second generation of electric transit buses. ElDorado National is developing three sizes of its electric transit buses at 32 feet, 35 feet, and 40 feet. These will be available to transit agencies starting in 2023 and will be powered by Proterra’s S-Series battery system.
Iveric Bio (NASDAQ:ISEE) stock is rising higher on Tuesday after the biopharmaceutical company revealed positive results from a Phase 3 clinical trial. That trial covered the use of Zimura in treating patients suffering from geographic atrophy (GA). GA is a chronic progressive degeneration of the macula. It’s connected to late-stage age-related macular degeneration.
Bed Bath & Beyond (NASDAQ:BBBY) stock opened lower by over 14% following the death of CFO Gustavo Arnal. The CFO first joined the company in May of 2020 and had previously served roles for Walgreens Boots Alliance (NASDAQ:WBA) and Procter & Gamble (NYSE:PG). The tragic incident only adds more pressure to BBBY stock. Shares of the struggling retailer are down over 45% year-to-date.
