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☆ This exchange is expanding its short-term options portfolio as 'zero-day' bets boom
▼ + stars: | 2023-11-27 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

While options contracts historically expire on Fridays, the most popular stock indexes now have contracts that expire on every day of the week. This creates the ability for "zero-day to expiration," or "0DTE," options trading. The new funds come as trading in options that are about to expire has expanded dramatically as a share of the options market in recent years. The rise of short-term options trading has created split opinions on Wall Street. "In my mind, 0DTE has always been a risk day, but we've now spread that risk out across an entire month.

Persons: Michael M, IWM, Marko Kolanovic, 0DTE, you've, Randy Frederick Organizations: Nasdaq, Getty, Trust, Securities, Exchange Commission, Federal Reserve, Schwab Center, Financial Research, CNBC Locations: New York City, Cboe

☆ The looming office space real estate shortage. Yes, shortage
▼ + stars: | 2023-11-26 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +6 min

You read that right: amid a commercial real estate market across U.S. downtowns being described in apocalyptic terms, CoStar sees a shortage on the horizon, with one key caveat for top companies to bear in mind. CoStar's call of an upcoming office space shortage is predicated on a look at the current data on leasing and construction activity compared to recent market history. They have attracted over 175 million square feet of net new occupancy since the beginning of 2020, an average of 12.7 million square feet per quarter. "Modern, premium office space remains in demand, just as it has historically, even during difficult economic times," said Phil Mobley, national director of office analytics at CoStar Group. Less than 30 million square feet has broken ground in 2023, making this year the lowest for construction starts since 2011.

Persons: Visoot, downtowns, Phil Mobley, Google's, Mobley, Jeff Greene Organizations: CNBC, Google, City, Gas Co, Billionaire Locations: U.S, New, Los Angeles, West Palm Beach

☆ Dollar extends fall ahead of Fed minutes, yen strengthens
▼ + stars: | 2023-11-21 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +2 min

NEW YORK, Nov 21 (Reuters) - The dollar index fell for a third straight session on Tuesday ahead of minutes from the U.S. Federal Reserve's most recent policy meeting as expectations grow the central bank will start to cut rates in the early portion of next year. Bregar noted, however, the downward move in the greenback may be starting to run out of steam and big option expirations in the eurodollar and yen could stabilize the dollar. The dollar index fell 0.13% to 103.31 after falling to a fresh 2-1/2 month low of 103.17, its lowest since Aug. 31. The weakness in the dollar has buoyed the yen, along with expectations the Bank of Japan may eventually start to move off its ultra-loose monetary policy next year. The yen strengthened 0.42% versus the greenback to 147.76 per dollar after the greenback hit its lowest level since mid-September at 147.14 yen, while sterling was last trading at $1.254, up 0.29% on the day.

Persons: CME's, Erik Bregar, It's, it's, Bregar, Chuck Mikolajczak, Nick Macfie Organizations: U.S, U.S . Federal, Bull, Bank of Japan, greenback, Thomson Locations: U.S ., Toronto

☆ Premarket stocks: How Goldman Sachs is navigating a more turbulent world
▼ + stars: | 2023-11-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +11 min

Jared Cohen: If you reflect back on most of the last 20 years, the geopolitical center of gravity has been in the Middle East. But there’s a paradigmatic shift where the geopolitical center of gravity has moved from the Middle East to Washington and Beijing. That’s before you get into other factors like the war in Europe, now, the war in the Middle East and a variety of other things. I don’t think that’s the case. Leaders in the Middle East have a big vision of their role in the world.

Persons: Goldman Sachs, won’t, Goldman, Bell, Jared Cohen, Cohen, they’re, They’ve, it’s, They’re, Bill Ackman, ”, Ackman, Claudine Gay, “, Lawrence Summers, Clinton, ” Summers, Chris Isidore, Shawn Fain Organizations: CNN Business, Bell, New York CNN, Goldman Sachs Global Institute, Applied Innovation, Global Affairs, Google, Harvard, Harvard University, Israel, Pershing Square Capital Management, “ Harvard, Civil, CNN, UAW, United Auto Workers, General Motors, Ford Locations: New York, China, Europe, East, Washington, Beijing, Taiwan, South China, Israel

☆ The UAW is already looking ahead to its next auto strike
▼ + stars: | 2023-11-04 | by ( Manav Tanneeru | Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —Members of the United Auto Workers union are back on the job at General Motors, Ford and Stellantis. They can’t go on strike in sympathy with another union’s strike, and they can’t wage a strike over political issues, such as a change in government policy. The Teamsters and the UAW also both have members now on strike against a group of casinos in Detroit. The significance of May 1The date Fain sees for this collective, coordinated strike is May 1, 2028, or May Day, which is also International Workers Day. That is celebrated as a Labor Day in many other countries, but rarely in the United States, which is where its historical roots are.

Persons: Shawn Fain, ”, Todd Vachon, Taft, Harry Truman, Vachon, Fain, expirations, Kate Bronfenbrenner, “, ‘, “ He’s, Bronfenbrenner, McCarthy, ” Fain Organizations: New, New York CNN, United Auto Workers, General Motors, Ford, UAW, Rutgers University, US Department of Labor, Teamsters ’, UPS, Labor Education Research, Cornell University, Kaiser Permanente, Teamsters, Workers, Labor, Unions Locations: New York, Europe, United States, France, Detroit, “

☆ Top Wall Street analysts favor these five dividend stocks during tumultuous times
▼ + stars: | 2023-10-22 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +7 min

The company paid a dividend of $1.74 per share in late September, which included a quarterly base dividend of 50 cents per share and a variable dividend of $1.24. The acquisition, anticipated to close in January 2024, is expected to boost CIVI's free cash flow per share by 5% in 2024. In September, the company announced a quarterly dividend of 57 cents per share, payable on Nov. 1. (See Chesapeake Insider Trading Activity on TipRanks)EOG ResourcesLet's look at another energy company: EOG Resources (EOG). Based on this quarterly dividend, the annual dividend rate comes to $3.30 per share, bringing the dividend yield to 2.5%.

Persons: Paresh Dave, Wall, Civitas, Lloyd Byrne, CIVI, Byrne, TipRanks, Bristol Myers, BMY, Goldman Sachs, Chris Shibutani, Shibutani, Umang Choudhary, Choudhary, EOG, Nitin Kumar, Eagle, Kumar Organizations: Cisco Systems Inc, Civitas, Civitas Resources, Vencer Energy, Jefferies, Midland, Bristol, Bristol Myers Squibb, Mirati Therapeutics, Chesapeake Energy, Management, Chesapeake, EOG, Eagle Ford, TipRanks, Cisco Locations: San Jose , California, Denver, Midland, West Texas

☆ US stock trade mixed as key bond yields near 5% and oil spikes again on Middle East conflict fears
▼ + stars: | 2023-10-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

US stocks opened mixed on Friday, as the 10-year Treasury yield hovered just below 5%. Oil prices rose and are on pace for a second week of gains as conflict in the Middle East continues. A US Navy destroyer also shot down missiles launched from Yemen that could have been headed for Israel. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementUS stocks opened mixed on Friday as the yield on the 10-year Treasury hovered just below 5% while oil prices rose amid fears the Israel-Hamas conflict could spread.

Persons: —, Michael Reinking, Reinking Organizations: Treasury, US Navy, Service, Energy, Strategic Petroleum Reserve, NYSE, Dow Jones Locations: Yemen, Israel, Gaza

☆ Bristol-Myers Squibb to acquire Mirati in up to $5.8 billion deal
▼ + stars: | 2023-10-09 | by ( Michael Erman | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 8 (Reuters) - Bristol-Myers Squibb (BMY.N) on Sunday said it will acquire cancer drugmaker Mirati Therapeutics (MRTX.O) for up to $5.8 billion, diversifying its oncology business and adding drugs it hopes can help offset expected lost revenue from patent expirations later this decade. Bristol will pick up Mirati's portfolio drugs that target the genetic drivers of specific cancers including its lung cancer drug, Krazati, which was approved in December. The company said that it will buy Mirati for $58 per share in cash, or around $4.8 billion. Mirati has around $1.1 billion in cash on hand, so "we're paying essentially $3.7 billion enterprise value...we think with that we've gotten a very attractive deal," Lenkowsky said. Last year, Bristol acquired drug developer Turning Point Therapeutics for $4.1 billion in cash to help bolster its arsenal of cancer drugs.

Persons: Bristol Myers, Dado Ruvic, Adam Lenkowsky, Mirati, we've, Lenkowsky, Chris Boerner, Giovanni Caforio, Boerner, Lavanya Ahire, Lisa Shumaker, Diane Craft, Andrea Ricci, Michael Perry Organizations: Bristol, Bristol Myers Squibb, REUTERS, Myers Squibb, Therapeutics, U.S . Food, Drug Administration, Bristol Myers, Thomson Locations: Bristol, U.S, New York

☆ Drugmakers opt in to Medicare drug price negotiations – here's what happens next
▼ + stars: | 2023-10-02 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

A pharmacist holds a bottle of the drug Eliquis, made by Pfizer Pharmaceuticals, at a pharmacy in Provo, Utah, January 9, 2020. All drugmakers of the first 10 medicines selected for Medicare drug price negotiations have agreed to participate in the talks, even after many of them sued to halt the process last month. The Centers for Medicare & Medicaid Services did not immediately respond to a request to confirm that all drugmakers agreed to the talks. President Joe Biden's Inflation Reduction Act, which passed last year, empowered Medicare to negotiate drug prices for the first time in the program's six-decade history. The pharmaceutical industry also argues that the process will threaten revenue growth, profits and drug innovation.

Persons: Joe Biden's, Boehringer Ingelheim, Johnson Januvia, Merck Farxiga, Novartis Enbrel, Amgen Imbruvica, AbbVie Stelara, Janssen, Bristol Myers, Biden Organizations: Pfizer Pharmaceuticals, CNBC, Medicare, Services, Sunday, Bristol Myers Squibb Jardiance, Johnson, Merck, AstraZeneca Entresto, Novartis, Novo Nordisk, U.S, CMS, Bristol, Bristol Myers Squibb Locations: Provo , Utah

☆ Kaiser Permanente contract expires: 75,000 workers to go on strike Wednesday, the largest US health care strike
▼ + stars: | 2023-10-01 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +1 min

CNN —A coalition of eight unions representing 75,000 employees of Kaiser Permanente said late Saturday that is has not reached an agreement with the company, setting the stage for the largest healthcare strike in US history on Wednesday. The coalition’s contract with Kaiser officially expired after 11:59 pm PT on Saturday night. In a statement a few hours before the contract ran out, Kaiser Permanente said that it will continue negotiating “in good faith,” and that operations will continue normally until the planned strike happens on Wednesday. We remain optimistic that we will reach an agreement and avoid an unnecessary strike,” the company said. CNN has reached out to the Coalition of Kaiser Permanente Unions for comment.

Persons: Kaiser Permanente, Kaiser, “ Organizations: CNN —, Kaiser, Coalition, Kaiser Permanente Unions, D.C, ”, CNN Locations: California , Oregon, Colorado , Virginia, Washington

☆ AstraZeneca, Boehringer Ingelheim to participate in Medicare drug price negotiations
▼ + stars: | 2023-09-27 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

AstraZeneca and Boehringer Ingelheim on Wednesday told CNBC they will agree to participate in the first round of Medicare drug price negotiations, even after both pharmaceutical companies sued to halt the process last month. AstraZeneca's Type 2 diabetes drug Farxiga and Boehringer Ingelheim's own diabetes drug Jardiance are among the first 10 drugs selected for price talks with Medicare. Manufacturers of the other eight drugs selected have until Oct. 1 to sign an agreement to participate in the process. The Inflation Reduction Act, which passed Congress last year in narrow party-line votes, empowered Medicare to negotiate drug prices for the first time in the program's six-decade history. The law is the central pillar in the Biden administration's efforts to control rising drug prices and was a major victory for the Democratic Party.

Persons: Farxiga, Boehringer Ingelheim, Boehringer, AstraZeneca, Biden Organizations: New, Halsted Pharmacy, AstraZeneca, Boehringer, Wednesday, CNBC, Medicare, Manufacturers, CMS, Centers, Services, Bristol Myers Squibb, Johnson, Merck, Chamber of Commerce, Democratic Party Locations: Chicago , Illinois

☆ UAW makes contract counteroffer to Ford; Stellantis to make offer
▼ + stars: | 2023-09-06 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Last week, Ford said it had offered a 9% wage increase through 2027, much less than the 46% wage hike being sought by the union. Stellantis said Wednesday it intends to give the UAW a counter offer on the union's economic demands by the end of the week. The UAW declined to comment on its proposal it made to Ford. Ford said Wednesday it continues to negotiate with the UAW but declined to comment on the details of the talks. Ford said it would boost starting pay for temporary workers to $20 an hour, up 20%, and offer permanent employees $12,000 in cost-of-living adjustments over the contract.

Persons: Brendan McDermid, Ford, Stellantis, David Shepardson, Jonathan Oatis, David Gregorio Our Organizations: Ford, REUTERS, United Auto Workers, Wednesday, Ford Motor, Chrysler, Detroit Three, UAW, General Motors, Reuters, National Labor Relations Board, GM, U.S, Thomson Locations: New York City, U.S

☆ Medicare drug price negotiations may have a muted impact on drugmakers in the near term
▼ + stars: | 2023-08-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

But analysts say the drug price talks will likely have a muted financial impact on manufacturers, at least for this first round of prescription medicines. More broadly, some of the drugs on the list aren't significant contributors to their company's business in the first place. "The commercial impact of negotiations appears limited in the near term for this initial list of drugs," Mara Goldstein, managing director of Mizuho Securities, told CNBC. The list names drugs with the highest spending for Medicare Part D, which covers prescription medications, from June 2022 to May 2023. Several drugmakers, including a handful whose medications are on the list, have filed lawsuits in different federal courts seeking to stop the negotiations.

Persons: Eliquis, Mara Goldstein, Biden, Johnson, there's Organizations: New, Halsted Pharmacy, Medicare, Mizuho Securities, CNBC, Myers Squibb, Johnson, Merck, AstraZeneca, Supreme, U.S . Chamber of Commerce Locations: Chicago , Illinois, Bristol, U.S

☆ One jarring chart shows just how empty remote work will leave office buildings
▼ + stars: | 2023-08-29 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

As remote work remains popular, office buildings will become increasingly empty. Goldman Sachs estimated vacant office space will jump by 267 million square feet over the next decade and beyond. So far, that has yet to translate to big declines in office space that's rented out under a lease agreement. The forecast comes as some high-profile companies start taking a harder line on remote work. Even video-conferencing company Zoom, which is a key enabler of remote work, has asked some employees to come back to the office regularly.

Persons: Goldman Sachs, Goldman Organizations: Service, Goldman, Goldman Sachs Global Investment, Meta Locations: expirations, Wall, Silicon

☆ Looming auto workers strike could cost $5 billion in just 10 days, new analysis says
▼ + stars: | 2023-08-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant in Detroit with Sen. Bernie Sanders, of Vermont, far left, Sept. 25, 2019. "However, with current inventories hovering around only 55 days, the industry looks different than it did during the last UAW strike." The automaker said the strike cost it about $3.6 billion that year in earnings. He said the union has no plans to extend the current contracts to allow for bargaining to continue without a strike, which was previously common practice. AEG's estimates do not include UAW strike pay or assessments for strike pay, unemployment benefits or unemployment taxes, income taxes on wages and other potential effects such as settlement bonuses.

Persons: Sen, Bernie Sanders, Tyler Theile, hasn't, Patrick Anderson, Shawn Fain, Tom Narayan, GM's Organizations: United Auto Workers, General Motors, Hamtramck Assembly, DETROIT, Detroit's Big, UAW, Ford Motor, Anderson Economic Group, AEG, Consumer, Detroit automakers, GM, Automotive Press Association, Ford, RBC Capital Locations: Detroit, Hamtramck, Vermont, Michigan

☆ UAW leader defends union's lofty demands, (literally) trashes Stellantis contract proposals
▼ + stars: | 2023-08-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

The leader of the United Auto Workers on Tuesday adamantly defended lofty demands for the union's members who work for the Detroit automakers, while calling recent contract proposals from Stellantis "trash." Fain laid out reported changes to the contract involving holiday and vacation days, absenteeism, 401(k) contributions, profit-sharing payments and other proposals that he described as "concessionary." "Stellantis' proposals are a slap in the face. Contract talks between the union and automakers usually begin in earnest in July ahead of mid-September expirations of the previous four-year agreements. Fain also criticized Stellantis CEO Carlos Tavares for not meeting with union leaders to open the negotiations.

Persons: Shawn Fain, Fain, Stellantis, it's, Carlos Tavares, Tavares Organizations: United Auto Workers, Detroit automakers, UAW, Chrysler, Ford Motor, General Motors, Detroit Locations: Europe

☆ GSK chief says RSV vaccine will start off slower than shingles shot – but will drive future sales
▼ + stars: | 2023-07-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

GlaxoSmithKline CEO Emma Walmsley on Wednesday said she expects uptake for the company's new RSV vaccine to start off slower than it did for its blockbuster shingles shot. Last month, GSK's RSV shot became the first to win approval in the U.S. and European Union for the treatment of adults 60 and above. The company has not provided estimates for how much revenue the RSV shot will rake in this year following its launch. GSK's vaccine against shingles, a viral infection that causes a painful rash, is the company's top-selling drug. Investors are hoping that Shingrix and GSK's RSV shot will help offset patent expirations for some of the company's blockbuster HIV drugs in a few years.

Persons: Emma Walmsley, Walmsley Organizations: GSK, Union, U.S, European Union, Investors Locations: London, U.S, Japan, Canada

☆ This way to make short-term market bets is gaining popularity, and raising concerns
▼ + stars: | 2023-07-17 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Options trading has exploded in the last few years, and recently a particular type of options trading has become popular with retail and institutional traders alike. Why are they so popular, and what impact might they have on prices in indexes like the S & P 500 and individual stocks? Most people lose money trading options in general. Most people lose money trading options in general, and all this does is allow them to lose money more consistently." The heavy flows have attracted the interest of the ETF industry, which is looking to launch new options trading products soon.

Persons: they're, Cboe, Patrick Moley, Moley, Michael Green, Green, Ed Tilly Organizations: Business, PiperSandler, Apple, Edge

☆ Friday could offer a once-in-a-year chance to cash in on tech gains
▼ + stars: | 2023-06-23 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

Following on the rebalancing of S & P indexes last week, on Friday the Russell indexes will do their annual rebalancing. FTSE Russell also has a vast suite of products indexed to benchmarks like the small-cap Russell 2000 , the large-cap Russell 1000 , and the Russell 1000 Growth and Value indexes. FTSE Russell estimates that about $12.1 trillion is currently benchmarked to the FTSE Russell indexes. On average, about 12% of the Russell 2000 (about 242 stocks) turns over every year since 2006, according to FTSE Russell. This year, about 15% of the Russell 2000 will turnover, and about 2% of the Russell 1000, according to Wells Fargo.

Persons: Russell, It's, Wells Fargo, Chris Harvey, Mike O'Rourke, Wells Fargo's Harvey Organizations: Russell, Technology, Apple, Microsoft, Nvidia, Investors, Netflix, Google, FTSE Russell, Jones, Amazon Locations: Wells Fargo, Freeport McMoRan .

☆ UAW union outlines lofty demands ahead of critical negotiations with Detroit automakers
▼ + stars: | 2023-06-01 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant on Sept. 25, 2019 with Vermont Sen. Bernie Sanders (far left) in Detroit. DETROIT – The United Auto Workers union appears ready to take a hard line when it comes to national negotiations this year with the Detroit automakers, warning of strikes or work stoppages, if needed. UAW President Shawn Fain said the "union will not accept any concessions" from General Motors , Ford Motor and Stellantis – a lofty mission in such negotiations. Contract talks between the union and automakers usually begin in earnest in July ahead of mid-September expirations of the previous four-year agreements. Union leaders, led by Fain, are largely newly elected officers that ran on platforms of standing up to companies and reforming the organization following a years-long federal corruption scandal that partially involved prior negotiations.

Persons: Vermont Sen, Bernie Sanders, Shawn Fain, Fain, Ford Organizations: United Auto Workers, General Motors, Hamtramck Assembly, Vermont, Detroit . DETROIT –, Detroit, UAW, Ford Motor, Union, Detroit automakers, GM Locations: Detroit, Hamtramck, Detroit .

☆ Horizon Therapeutics says Amgen deal could close earlier than planned if FTC fails to block it
▼ + stars: | 2023-05-18 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Horizon Therapeutics expects its $27.8 billion sale to Amgen to close as early as the end of the third quarter, earlier than previously planned — if the Federal Trade Commission's attempt to block the deal fails — according to a document filed Thursday with the Securities and Exchange Commission. The FTC on Tuesday filed a lawsuit in Illinois federal court seeking to halt the acquisition, arguing it would "stifle competition" in the pharmaceutical industry. Horizon's estimate is earlier than when the companies and Wall Street analysts were initially expecting the deal to close after the FTC sued. If completed, the deal would give Amgen access to Horizon's blockbuster thyroid eye disease drug, Tepezza, and its gout medicine, Krystexxa. The agency said the deal would allow Amgen to "entrench the monopoly positions" of those two fast-growing drugs from Horizon.

☆ 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 .

☆ 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.

☆ Horizon Therapeutics stock plunges on report FTC is preparing to block Amgen deal
▼ + stars: | 2023-05-16 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Horizon Therapeutics ' stock price plunged more than 17% in premarket trading Tuesday after a report that the Federal Trade Commission is preparing to file a lawsuit to block the biotech company's $27.8 billion sale to Amgen . The FTC could sue to stop the acquisition as soon as Tuesday, Bloomberg reported, citing an unnamed source. An Amgen spokesperson told CNBC the company isn't aware of any decision made by the FTC. Representatives for Horizon Therapeutics did not immediately respond to a request for comment from CNBC. Thousand Oaks, California-based Amgen struck the deal to buy Horizon Therapeutics in early December and said it expected to complete the sale in the first half of this year.

☆ 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.

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