After-hours movers: Root surges on buyout talk, Alcoa falls on downgrade

After-Hours Stock Movers:

Root (NASDAQ: ROOT) 38% HIGHER; adds to intra-day gains on reports from the WSJ that Embedded Insurance offered to buy the company for $19.34 per share.

Avid Bioservices (NASDAQ: CDMO) 20% LOWER; reported Q4 EPS of $0.00, $0.01 worse than the analyst estimate of $0.01. Revenue for the quarter came in at $39.8 million versus the consensus estimate of $38.91 million. Avid Bioservices sees FY2024 revenue of $145-165 million, versus the consensus of $181.27 million

AlloVir, Inc. (Nasdaq: ALVR) 19% LOWER; commenced a proposed underwritten public offering of $75.0 million of shares of its common stock

Alcoa (NYSE: AA) 2% LOWER; Morgan Stanley downgraded from Equalweight to Underweight with a price target of $33.00 (from $43.00).

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