Novartis to bolster its oncology portfolio with acquisition of MorphoSys
Novartis AG on Monday announced it has agreed to buy German biopharmaceutical company MorphoSys AG for 2.7 billion euros ($2.9 billion). Under the deal, Switzerland-based Novartis would acquire pelabresib, a potential treatment for myelofibrosis, and the anti-tumor drug tulmimetostat. “With the planned acquisition of MorphoSys, we aim to further strengthen our leading pipeline and portfolio […]
Super Micro board member buys over $1 million in stock after 600% yearly surge
Super Micro Computer Inc. shares have surged more than 600% over the past year, but one board member just sent a signal of confidence by buying up stock. Fred Chan, who’s spent just over three years on the storage and server company’s board, scooped up 2,000 Super Micro shares SMCI, +14.44% Thursday at $568 apiece, […]
McDonald’s and Starbucks blame Israel-Hamas war for slower sales
People dit at McDonald’s outdoor seating after going out on a Saturday night along Rothschild Street on June 11, 2022 in Tel Aviv, Israel. Alexi Rosenfeld | Getty Images McDonald’s and Starbucks, two of the biggest U.S. restaurant companies, both said the Israel-Hamas war hurt their sales at the end of last year. Shares of […]
Bond-market selloff driven by ‘higher for longer’ fears leads to two-day losses
Another batch of strong U.S. economic data coupled with weekend remarks from Federal Reserve Chairman Jerome Powell shook financial markets on Monday, sending long-term Treasurys to their biggest two-day losses since at least 2022.Investors and traders aggressively sold off 2-year notes BX:TMUBMUSD02Y through 30-year bonds BX:TMUBMUSD30Y, pushing their corresponding yields higher by 10 basis points […]
Mortgage rates back over 7%, as stronger economic data rolls in
This photo taken on Aug. 22, 2023 shows an advertisement in front of a real estate for sales in Millbrae, California, the United States. The sales of previously owned homes in the United States dropped 2.2 percent in July from June to a seasonally adjusted, annualized rate of 4.07 million units, the National Association of […]
Elanco’s stock heads for 18-month high as company sells aqua business for $1.3 billion
Elanco Animal Health Inc.’s stock was headed for an 18-month high on Monday after the company said it has agreed to sell its aqua business to Merck Animal Health for $1.3 billion in cash, in a move aimed at helping the company focus on promising pipeline products. Greenfield, Ind.-based Elanco ELAN, +5.87%, which makes products […]
Novo Nordisk parent to buy Catalent to expand Wegovy supply
Injection pens of Novo Nordisk’s weight-loss drug Wegovy are shown in this photo illustration in Oslo, Norway, November 21, 2023. Victoria Klesty | Reuters Novo Nordisk‘s parent company on Monday said it will acquire drug manufacturer Catalent in a $16.5 billion deal that could help boost the supply of the highly popular weight loss injection […]
Bond yields continue to back up after hot jobs data
Bond yields continue to rise on Monday, as investors react to news the U.S. economy continues to add jobs at a brisk pace. What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y was 4.44%, up 7.5 basis points. Yields move in the opposite direction to prices. The yield on the 10-year Treasury BX:TMUBMUSD10Y was 4.08%, […]
McDonald’s (MCD) Q4 2023 earnings
Visitors are attending a New Year event held by McDonald’s in Shanghai, China, on January 25, 2024. Costfoto | Nurphoto | Getty Images McDonald’s is expected to report its fourth-quarter earnings before the bell on Monday. Here’s what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv, are expecting: Earnings per share: $2.82 expected […]
Car insurance is up 43% since 2022. Here’s how to lower your premiums.
Anyone already feeling burned by sharp increases in their auto insurance rates over the last year should buckle up — it’s only getting more expensive. Car insurance premiums in the U.S. will continue to climb this year after rising more than 43% since January 2022, new research from Bankrate shows. “While we hope to see […]
