Crinetics Pharmaceuticals shares surged after Vertex Pharmaceuticals announced an agreement to acquire the endocrinology-focused biotech companyin a deal valued at approximately $10 billion. The all-cash transaction values Crinetics at $85 per share and is expected to close during the current quarter, subject to customary conditions. The acquisition sparked a sharp rally in CRNX stock. CRNX
Dow Jones opened higher on Tuesday even as the Nasdaq came under pressure from another broad selloff in semiconductor stocks, highlighting a divergence in US equity markets ahead of the second-quarter earnings season. The Dow Jones Industrial Average gained about 160 points, or 0.3%, while the Nasdaq Composite fell around 0.7%. The S&P 500 slipped
Shares of SanDisk Inc. (SNDK) fell sharply in trading on Tuesday as a broad selloff in memory-chip stocks spread from South Korea to US markets despite strong preliminary earnings from Samsung Electronics. SanDisk shares declined 8% after falling 23% over the previous three trading sessions. The stock has been one of the strongest performers in
Sky has agreed to acquire the broadcast channels and streaming service of ITV for £1.6 billion ($2.13 billion), creating one of the largest media businesses in the UK as traditional broadcasters seek greater scale to compete with global streaming platforms. The transaction, announced on Monday. The deal will now undergo scrutiny from regulators and lawmakers
London’s benchmark FTSE 100 index traded slightly lower on Monday as weakness in precious metal mining stocks outweighed gains in financial and media shares. Investors also assessed a series of merger and acquisition announcements that drove stock-specific movements across the market. The blue-chip FTSE 100 index fell 0.1% to 10,663.68 points by 1037 GMT. The
Rocket Lab stock has remained volatile in the wake of the highly anticipated SpaceX IPO and its blockbuster Iridium acquisition. Shares surged to $151 ahead of the IPO before tumbling to $80.50, and have since recovered to around $100. Despite the wild price swings, top analysts continue to maintain a bullish outlook on the company.
The Dow Jones Index jumped to a record high last week, helped by strong performance of some traditional companies. It jumped to a high of 52,905, up by 17% from it lowest level this year. This article highlights some of the top companies that drove the index to an all-time high. Caterpillar is the best-performing
Shares of AI infrastructure developer TeraWulf WULF jumped more than 17% in premarket trading on Monday after Anthropic signed a 20-year lease for a large-scale data center in Kentucky. The agreement is expected to generate approximately $19 billion in revenue over its initial term and further strengthens TeraWulf’s position as one of several former Bitcoin
Micron stock price has plunged and entered a local bear market after falling by over 22% from its all-time high. It slipped to $975 on Thursday, its lowest level since June 11, after a series of negative news. So, is this the start of a new downtrend or just an overreaction? Micron stock dived after
US stocks opened higher on Monday, with the S&P 500 and Nasdaq looking to extend last week’s rally. Investors welcomed a rebound in semiconductor shares while preparing for the release of Federal Reserve meeting minutes and the start of the second-quarter earnings season later this week. The Dow Jones Industrial Average gained 83 points as