Bumble Jumps, Meta Gains on Muse Wonder Release, Syndax Therapeutics Sinks

Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:

- Shares of Bumble (BMBL) quickly spike as much as 21%, triggering a volatility halt, after the Wall Street Journal reported that the dating app is in advanced talks with Ithaca Holdings to be taken private in a deal that values it at roughly $1 billion.

- Meta Platforms (META) released a new artificial intelligence model called Muse Wonder, which the company claims is a big leap over its predecessors with "frontier capabilities". The model is said to be competitive with OpenAI's ChatGPT and Anthropic PBC's Claude, particularly in coding, financial, or legal questions, and will soon power the subscription version of Meta's personal AI agent Muse. Meta AI Chief Alexandr Wang says the company has tried to differentiate itself from competitors by focusing on big models for broad, consumer uses, and is already working on larger and more scaled models, as well as specialized versions that are efficient enough to deploy at massive scale. Meta’s shares rose as high as 4.7% on the announcement.

- Syndax Pharmaceuticals (SNDX) shares plunge 17% postmarket after the biotech said its MAXPIRe Phase 2 trial of axatilimab failed to meet its primary endpoint of annualized rate of decline in forced vital capacity versus a placebo in idiopathic pulmonary fibrosis, a rare lung disease.

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