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☆ Stocks making the biggest moves premarket: AstraZeneca, Wayfair, Alibaba and more
▼ + stars: | 2023-09-22 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

AstraZeneca — Shares of the British pharmaceutical company gained more than 2.7% in premarket trading after the company reported positive results for its drug Dato-DXd in a trial for treating a common type of breast cancer. Wayfair — Shares gained more than 2% after Bernstein upgraded home merchandiser to market perform from underperform. Chinese e-commerce stocks — U.S. listed shares of Alibaba and PDD Holdings added nearly 4% in premarket trading, while JD.com rose 3.3%. Arm Holdings — Shares of the chip designer added 1.3% during premarket trading. Yeti — Shares gained about 3% in the premarket.

Persons: Bernstein, Canaccord Genuity, Wells, Ralph Lauren —, Raymond James, Rick Patel, Jefferies, — CNBC's Pia Singh, Sarah Min, Samantha Subin, Tanaya Macheel, Brian Evans, Michelle Fox Organizations: AstraZeneca, AstraZeneca —, U.S, PDD Holdings, Bloomberg, Seagen, Deere, Susquehanna, Communications Locations: COVID, Smithfield, Sydney, DXd, Alibaba, China, drinkware

☆ EU antitrust regulators set Oct. 19 deadline for Pfizer's Seagen deal
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

Test tubes are seen in front of Seagen logo in this illustration taken June 27, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Pfizer Inc FollowSeagen Inc FollowBRUSSELS, Sept 15 (Reuters) - Pfizer's (PFE.N) $43 billion bid for Seagen (SGEN.O) will be decided by EU antitrust regulators by Oct. 19, a regulatory filing showed on Friday. U.S. pharmaceutical company Pfizer announced the deal, its biggest, in March for Washington-based Seagen, a pioneer of antibody-drug conjugates, which work like "guided missiles" designed to destroy cancer while sparing healthy cells. The European Commission can either clear the deal after a preliminary review or it can start a four-month long investigation if it has serious concerns. Pfizer sought EU antitrust approval on Thursday.

Persons: Dado Ruvic, Foo Yun Chee, Grant McCool Organizations: REUTERS, Pfizer, Washington, European, Thomson

☆ The FTC cleared Amgen's $27.8 billion Horizon buyout — here's what it means for other massive pharma deals
▼ + stars: | 2023-09-05 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

That includes the agency's examination of Pfizer 's proposed $43 billion purchase of cancer drug developer Seagen . Some also speculated that the restrictions imposed on Amgen as part of the settlement could have implications for other deals. The FTC's lawsuit against Amgen in May was the agency's first legal challenge to a pharmaceutical buyout in 14 years. The settlement agreement prohibits Amgen from bundling any of its products with two of Horizon's blockbuster drugs, among other restrictions. Still, some analysts said the restrictions suggest the FTC could apply similar rules to other buyouts in the future.

Persons: Amgen, William Blair, Matt Phipps, Robyn Karnauskas, baring, Nathan Ray, West, Biden, Evan Seigerman Organizations: Federal Trade Commission, Horizon Therapeutics, Pfizer, FTC, West Monroe, Amgen, Pharmaceutical, Pharma, BMO Capital Locations: Amgen

An Amgen sign is seen at the company's office in South San Francisco, California in this October 21, 2013. Under the FTC settlement, Amgen is prohibited from bundling any of its products with Tepezza or Krystexxa, and from using any product rebate or contract term to exclude or disadvantage products that would compete with those drugs. It also prevents Amgen from buying any competitors to the two Horizon drugs without the FTC's permission. The lawsuit had raised concerns over increased oversight on mergers and acquisitions in a sector that often turns to consolidation to power future growth as patents on older treatments expire. Shares of Seagen Inc (SGEN.O), which is in the process of being acquired by Pfizer (PFE.N), rose 1.5%.

Persons: Robert Galbraith, Lina Khan, Robyn Karnauskus, Khan, Manas Mishra, David Shepardson, Devika Organizations: REUTERS, U.S . Federal Trade Commission, Horizon Therapeutics, FTC, Seagen Inc, Pfizer, Thomson Locations: South San Francisco , California, Amgen, Bengaluru, Washington

☆ Hedge funds are scrambling into these stocks with conviction, says Morgan Stanley
▼ + stars: | 2023-08-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Investors on the hunt for the new stock ideas may want to take a look at these name that garnered increased interest from hedge funds during the second quarter, according to Morgan Stanley. Here are some of the companies that made the list: Liberty Media experienced the largest uptick in ownership during the period, up 22.5%, according to Morgan Stanley's analysis. LSXMA YTD mountain Liberty Media shares year to date During the second quarter, Liberty Media remained among Baupost's top positions , with the Seth Klarman-led fund retaining a $486 million stake in the company. The company agreed to merge with UFC during the second quarter to create a new publicly traded company controlled by Endeavor . Shares have risen more than 63% this year, and ownership ticked up nearly 9% during the second quarter.

Persons: Morgan Stanley, Morgan, John Malone, Seth Klarman, Macy's, — CNBC's Michael Bloom, Yun Li Organizations: Liberty Media, Sirius XM Holdings, Entertainment, Pfizer, Wrestling Entertainment, UFC, Endeavor Locations: Seagen

☆ A biotech hedge fund that counts Yale’s endowment among its clients bought a new stake in this genetic testing company
▼ + stars: | 2023-08-16 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Founded by brothers Julian and Felix Baker in 2000, the health care hedge fund focuses on biotech and life sciences investing. The biotech stock with a focus on neuroscience has surged more than 84% this year. Baker Bros. doubled down on its bet in Kymera Therapeutics , which it raised by more than 51%. The hedge fund also took new stakes in ImmunoGen , which has more than tripled this year, soaring 216%, and Day One Biopharmaceuticals , which is down by 34%. The hedge fund lowered its exposure to the biotech company, which develops treatments for cancer, by 5%.

Persons: Baker, Tisch, Julian, Felix Baker, Seagen, Yun Li Organizations: Baker Bros, Advisors, Yale, Acadia Pharmaceuticals, Kymera Therapeutics Locations: InVitae, Invitae, Acadia, ImmunoGen

☆ Pfizer mulls cost cuts on volatile COVID products demand
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

Comirnaty sales declined 83% to $1.49 billion in the second quarter and antiviral treatment Paxlovid revenue tumbled 98% to $143 million. That compared with analysts' estimates of $1.40 billion for the vaccine and $1.08 billion for the pill. However, the company maintained its forecast for annual COVID revenues at about $21.5 billion. Pfizer also trimmed the upper end of its annual revenue forecast by $1 billion to $70 billion while retaining the low end at $67 billion. Total revenue for the second quarter fell 54% to $12.73 billion, compared with analysts' estimates of $13.27 billion, according to Refinitiv data.

Persons: drugmaker, Albert Bourla, Bhanvi, Sriraj Organizations: Pfizer, Thomson Locations: U.S, Bengaluru

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho

☆ US FTC seeks additional info on Pfizer's proposed takeover of Seagen
▼ + stars: | 2023-07-15 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Pfizer logo is pictured on their headquarters building in the Manhattan borough of New York City, New York, U.S., November 9, 2020. REUTERS/Carlo Allegri/File Photo/File PhotoJuly 14 (Reuters) - The US Federal Trade Commission (FTC) has sought additional information and documentary material related to Pfizer's (PFE.N) proposed acquisition of Seagen Inc (SGEN.O), Seagen said on Friday. The antitrust agency sent the requests separately to both the companies, a regulatory filing said. Pfizer struck a $43 billion deal in March to acquire Seagen and its targeted cancer therapies, to counter the fall in COVID-related sales and generic competition for some top-selling drugs. The recent scrutiny by the antitrust agency to block Amgen's (AMGN.O) $27.8 billion deal to buy Horizon Therapeutics (HZNP.O) has made investors jittery around the Pfizer-Seagen deal as well.

Persons: Carlo Allegri, Seagen, Khushi, Shailesh Organizations: Pfizer, REUTERS, US Federal Trade Commission, Seagen Inc, Horizon Therapeutics, Thomson Locations: Manhattan, New York City , New York, U.S, COVID, Bengaluru

☆ Here are Friday's biggest analyst calls: Apple, Nvidia, AT&T, Tesla, Disney, Amazon, Microsoft & more
▼ + stars: | 2023-07-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

JPMorgan downgrades AT & T to neutral from overweight JPMorgan downgraded the telecommunications due to "slowing growth drivers." Wells Fargo downgrades Progressive to equal weight from overweight Wells said it has concerns about the insurance company gaining share. UBS upgrades Microsoft to buy from neutral UBS said in its upgrade of the stock that shares are too attractive to ignore. Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating after the company's Prime Day. JPMorgan reiterates Apple as overweight JPMorgan said recent checks show that Apple has "strong market share" in a variety of markets.

Persons: LOE, Wells, it's, Tesla, Morgan Stanley, Goldman Sachs, Goldman, Raymond James, Robert Iger, Mills, Argus Organizations: HSBC, Pfizer, ADC, JPMorgan downgrades, Verizon, Mobile, Consumer, JPMorgan, Alcoa, UBS, Microsoft, Citi, Applied Materials Citi, Bank of America, Texas Roadhouse Citi, Texas, Barclays, Apple, Sands, Macau, Northland, Nvidia, Pulte, KB, Disney, CNBC, DIS, Argus, TNT, Tidewater Locations: Wells Fargo, China, Northland

☆ U.S. government sets penalties on 43 drugs over price hikes
▼ + stars: | 2023-06-09 | by ( ) www.cnbc.com time to read: +1 min

The Biden administration on Friday announced it would impose inflation penalties on 43 drugs for the third quarter of 2023, having fined 27 earlier this year, in a move it said would lower costs for older Americans by as much as $449 per dose. Drugmakers hiked the price of these 43 drugs by more than the rate of inflation and are required to pay the difference of those medicines to Medicare, the federal health program for Americans over age 65. "People taking 43 of these drugs could pay less (in coinsurance) to access these important treatments, starting July 1," Dr. Meena Seshamani, director for Medicare at the Centers for Medicare & Medicaid Services told reporters. Biden announced in March that his administration would subject 27 drugs to inflation fines for the second quarter of this year. The new list of 43 replaces that selection for the third quarter of 2023.

Persons: Joe Biden, Biden, Drugmakers, Dr, Meena Seshamani, Joe Biden's Organizations: Social Security, OB Johnson Park Community, Centers, Medicare, Medicaid Services Locations: Hallandale Beach , Florida, coinsurance

☆ ASCO conference will put the focus on the fight against cancer. These stocks are in the spotlight
▼ + stars: | 2023-05-28 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Developments in cancer research will be in the spotlight as the American Society of Clinical Oncology hosts the world's biggest cancer research conference in Chicago, starting Thursday. The pair has already has won regulatory approval for Enhertu for metastatic HER2-low breast cancer, but the companies are also studying its use in a variety other HER2 tumors in breast cancers. Lilly's drug, Verzenio, is used in high-risk patients with HR-positive HER2-negative breast cancer that is more likely to reoccur and has already breached the patient's lymph nodes. In a research note earlier this month, Guggenheim analyst Seamus Fernandez said Kisqali is already taking market share from Pfizer's Ibrance in metastatic breast cancer. Merck's Keytruda is also being watched for what benefits it could offer early-stage lung cancer patients .

☆ Brokerage Charles Schwab joins corporate debt rush with $2.5 billion offering
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

May 18 (Reuters) - Charles Schwab Corp (SCHW.N) is looking to raise up to $2.5 billion through a debt offering, the brokerage said on Thursday as more companies aim to benefit from investors trying to capitalize on a spike in yields. The Texas-based company will raise the debt in two parts, via notes due in 2029 and 2034 and will use it for its corporate needs. If held to maturity, the 2029 notes would yield 205 basis points more than the benchmark, risk-free U.S. 5-year Treasury , while the yield on 2034 notes would be 227 bps above the U.S. 10-year Treasury yield. On Wednesday, Pfizer Inc (PFE.N) announced its largest debt offering of $31 billion to fund its proposed acquisition of Seagen Inc (SGEN.O). BofA Securities, Citigroup, Credit Suisse Securities, Goldman Sachs, J.P. Morgan Securities and Wells Fargo Securities are the joint book-running managers for the offering.

☆ Pfizer to raise $31 bln for Seagen takeover in largest debt offering
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

May 16 (Reuters) - Pfizer Inc (PFE.N) is planning to raise $31 billion through its largest debt offering to finance its proposed acquisition of Seagen Inc (SGEN.O), the drugmaker said late on Tuesday. Rival Abbvie Inc (ABBV.N) had in 2019 made a $30 billion debt offering, which was used to finance its $63 billion buyout of Botox maker Allergan. The amount is more than double that of Pfizer's 2009 debt raise of $13.5 billion. The debt offering, which would be in eight tranches, is expected to close on May 19. Yield to maturity on Pfizer's 10-year bonds would be 125 basis points higher than the benchmark risk-free U.S. 10-year Treasury .

☆ Analysis: Amgen's antitrust woes spur wider pharmaceutical deal fears
▼ + stars: | 2023-05-17 | by ( David Carnevali | ) www.reuters.com time to read: +4 min

Even shares of drug companies that do not have pending deals but are seen by analysts and investors as potential acquisition targets were hit. FTC officials did not respond to a request for comment on whether they planned to challenge any other pharmaceutical acquisitions. "We could see similar challenges to the Pfizer/Seagen deal" BMO analysts wrote in a note, arguing that the FTC could target other major drug companies with the resources to engage in bundling. UNDER THE RADARConversely, investors and analysts are hoping that smaller pharmaceutical acquisitions will continue to fly under the radar of regulators. Reporting by David Carnevali in New York; Editing by Greg Roumeliotis and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Pfizer plans $31 bln debt offering to fund Seagen takeover
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

May 16 (Reuters) - Pfizer Inc (PFE.N) said on Tuesday it plans to raise $31 billion from a debt offering to finance its proposed acquisition of Seagen Inc (SGEN.O). Pfizer struck a $43 billion deal in March to acquire Seagen and its targeted cancer therapies as it prepares for a steep fall in COVID-19 sales and generic competition for some top-selling drugs. The company has been pumping billions of dollars into research and acquisitions to mitigate an anticipated $17 billion hit to revenue by 2030 from patent expirations for top drugs, and a decline in demand for COVID products. The debt offering, which would be in eight tranches, is expected to close on May 19, the company said, adding that BofA Securities, Citigroup (C.N), Goldman Sachs (GS.N) and J.P. Morgan (JPM.N) are acting as the joint lead managers and joint book-running managers. Reporting by Kanjyik Ghosh in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ Pfizer to raise $31 billion in debt offering to fund Seagen acquisition, SEC filing shows
▼ + stars: | 2023-05-17 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

A logo for Pfizer is displayed on a monitor on the floor at the New York Stock Exchange, July 29, 2019. Pfizer plans to raise $31 billion through a debt offering to fund its proposed acquisition of cancer drugmaker Seagen , for what would be its largest takeover since 2009, according to a new filing with the Securities and Exchange Commission. Pfizer expects to complete the $43 billion Seagen buyout later this year or in early 2024. The debt offering is expected to close on May 19, according to a prospectus supplement New York-based Pfizer filed with the SEC late Tuesday. The pharma giant's debt offering would be the biggest since CVS Health sold $40 billion of bonds in 2018 to finance its acquisition of health insurer Aetna.

☆ FTC’s Amgen Activism Will Spare These Biotechs
▼ + stars: | 2023-05-16 | by ( David Wainer | ) www.wsj.com time to read: 1 min

The Federal Trade Commission’s effort to block Amgen’s acquisition of Horizon Therapeutics is putting a damper on the recent biotech stocks rally. Photo: Eric Lee for The Wall Street JournalBiotech stocks were on a tear in recent weeks, rebounding from the sector’s horrid performance of the last two years. The Federal Trade Commission’s effort to block Amgen ’s acquisition of Horizon Therapeutics is putting a damper on that rally. The SPDR S&P Biotech exchange-traded fund was down 3.4% on Tuesday morning, with Horizon plunging 18%. Seagen , which agreed to sell itself to Pfizer for $43 billion in March, was down 6%.

☆ Stocks making the biggest moves premarket: Home Depot, Capital One, Dish Network & more
▼ + stars: | 2023-05-16 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Check out the companies making headlines in premarket trading. Dish Network — The satellite TV provider added 5.2% in premarket trading after director James DeFranco disclosed the purchase of 3 million shares. Home Depot , Lowes — The home improvement retailers lost 3.5% and 2.8% in premarket trading on Tuesday, after Home Depot reporting the biggest revenue miss in over 20 years. The company reported revenue of $37.26 billion against a Refinitiv consensus forecast of $38.28 billion. Sea Limited — Shares shed nearly 8% after the Singapore-based technology company reported earnings before the open.

☆ Stocks making the biggest moves midday: Horizon Therapeutics, Capital One, RH, Home Depot and more
▼ + stars: | 2023-05-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Western Alliance Bancorp — Western Alliance shares jumped 3.6% after Bank of America reinstated coverage on the stock with a buy rating. Home Depot , Lowe's — Shares of home improvement retailers Home Depot and Lowe's lost 1.4% and 1% in midday trading Tuesday. On Monday, Daniel Welch, a director at Seagen, disclosed the sale of 1,864 shares, a stake worth more than $370,000. GE HealthCare — The medtech company's shares gained nearly 3% after Oppenheimer initiated coverage with an outperform rating on Monday. GE HealthCare separated from parent company General Electric earlier in 2023 and began publicly trading on the Nasdaq Jan. 4.

☆ Earnings playbook: The second half of the season kicks off with Apple, Ford and a pharma giant
▼ + stars: | 2023-04-30 | by ( Fred Imbert | ) www.cnbc.com time to read: +9 min

What history shows: Data from Bespoke Investment Group shows Pfizer beats earnings expectations 87% of the time. Ford Motor is set to report earnings after the close, followed by a call at 5 p.m. What history shows: Ford earnings outperform earnings expectations 69% of the time, per Bespoke. AMD is set to report earnings after the close, with management scheduled to hold a conference call at 5 p.m. Friday Warner Bros Discovery is set to report earnings before the open, followed by a conference call at 8 a.m.

☆ Guggenheim lures Greenhill's dealmakers to expand into Europe, sources say
▼ + stars: | 2023-04-20 | by ( Andres Gonzalez | ) www.reuters.com time to read: +1 min

LONDON, April 20 (Reuters) - U.S. investment bank Guggenheim Securities will begin its European expansion by hiring four senior bankers from Greenhill, three sources familiar with the matter told Reuters. Guggenheim already had a small group of bankers covering European deals, one of the sources said. The Wall Street bank has snapped up Greenhill & Co.'s telecoms and digital infrastructure team, led by Jonathan Dann and Pieter-Jan Bouten, the sources said on condition of anonymity. Investment bankers Charlie Evans and Achille Del Pizzo will also move to Guggenheim, where the team will begin in May. Guggenheim, which according to Refinitiv ranked 39th among global M&A advisers in 2022, in the first quarter advised on Pfizer Inc.'s $43 billion deal to acquire Seagen Inc.

Treasury yields dropped on the back of the report. More specifically, we looked at the rolling 100-day correlation between Nasdaq-100 stocks and the SHY ETF. Here are the five-most correlated Nasdaq-100 stocks to falling rates. Here are the five-most correlated Nasdaq-100 stocks to falling rates. Stock Chart Icon Stock chart icon Shares of Seagan are one of the more closely correlated stocks of the iShares short-term bond yield ETF.

And that has the impact of postponing some announcements," said Anu Aiyengar, global head of M&A at JPMorgan Chase & Co (JPM.N). M&A volumes dropped 44% to $282.7 billion in the U.S. and 70% to $81.87 billion in Europe. Reuters Graphics"Having a well-functioning financing market is a critical ingredient for M&A. Global M&A volumes in Q1 2023LACK OF CONFIDENCEThe depressed market valuations also presented an opportunity for prominent activist investors to launch new proxy fights, with dealmakers anticipating a boost to M&A volumes from activist campaigns in the coming quarters. "Inflationary pressures aren't subsiding as fast as people expected; there's still a lot of geopolitical tensions, and in a lot of ways, the disruption in the financing market is intensifying," Langston said.

☆ ‘Chaos creates opportunities’: Strategist says to look beyond the SVB fallout — and names his top picks
▼ + stars: | 2023-03-15 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Markets calmed somewhat Tuesday, and Kenny Polcari, chief market strategist at SlateStone Wealth, believes the worst of the equity sell-off is over. "There's a lot of damage done to some of these stocks and they're going to need to rebalance. You need health care, you need consumer staples, you need energy. So yes, I think there are opportunities certainly in the health care space that are good dividend payers as well," he said. While the stock is not a "big sexy tech name," it is a "solid, great drug name," according to Polcari.

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