Investing.com - Union Pacific , Motorcar Parts of America and Nektar Therapeutics surged on Tuesday, underpinning a second-straight day of gains in the broader market.
Railway operator Union Pacific (NYSE:UNP) soared 8% as analysts lauded an announcement that industry veteran Jim Vena is set to take up the role as chief operating officer on Jan. 14.
Jim Vena will take the lead on the company's "Unified Plan 2020" ambitions, a move which analysts hailed as a "tremendous win" for shareholders.
Union Pacific's hiring of former Canadian National COO Jim Vena into their re-established COO role "is a tremendous win for shareholders, and should put to rest lingering doubts about UNP's organizational commitment to implementing precision scheduled railroading principles," Susquehanna said in a note to clients.
Aftermarket parts company Motorcar Parts of America (NASDAQ:MPAA) delivered better-than-expected second-quarter results, sending its shares accelerating 11% to three-month highs.
The company reaffirmed its annual adjusted sales guidance in the range of 6.5% to 8.5% growth year on year and indicated that it expects to reach the higher end of this range.
Nektar Therapeutics (NASDAQ:NKTR) surged 10% as the company outlined a slew of milestones for the year, including the initiation of new trials for various cancer treatments.
The drugmaker also revealed it had entered a research collaboration with Gilead Sciences (NASDAQ:GILD) on Dec. 7 to explore to explore the combination of its anti-tumor drug candidate, NKTR-255, with antiretroviral therapies in the Gilead's portfolio.