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☆ Bayer CEO on turnaround strategy: We've taken out multiple levels of hierarchy
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBayer CEO on turnaround strategy: We've taken out multiple levels of hierarchyBayer CEO Bill Anderson joins 'Squawk on the Street' to discuss why the company hasn't broken up parts of the business, why the current strategy is the best way to go, and more.

Persons: Bill Anderson Organizations: Bayer

☆ Bayer calls off break-up to tackle challenges for up to 3 years
▼ + stars: | 2024-03-05 | by ( ) www.cnbc.com time to read: +3 min

The Bayer AG logo sits behind silhouetted members of the management board during the company's annual general meeting in Bonn, Germany, May 25, 2018. The cutbacks will reduce annual costs by 2 billion euros from 2026, it added. To shore up its finances, that German drugmaker has slashed dividends, keeping what analysts estimate would have been combined payouts of 6-7 billion euros over three years. Bayer's net debt at the end of 2023 was up 8.5% to 34.5 billion euros. The company said it would seek to reduce net debt by 1-2 billion this year.

Persons: Bayer, Bill Anderson, Anderson, glyphosate Organizations: Bayer AG, Reuters, Monsanto Locations: Bonn, Germany

☆ Xabi Alonso becomes Europe’s most wanted coach as Bayer Leverkusen runs away with Bundesliga
▼ + stars: | 2024-03-04 | by ( Ben Morse | ) edition.cnn.com time to read: +5 min

Xabi Alonso was appointed the club’s head coach in October 2022, with Leverkusen languishing near the bottom of the German table. Prior to being appointed Leverkusen’s manager, Alonso had coached Real Madrid’s Under-14 team and Real Sociedad’s B team. We have seen in the past what else can happen,” Leverkusen defender Jonathan Tag told Dazn after the victory over Köln. There are 10 games remaining in the Bundesliga season and Leverkusen is the strong favorite to win its first ever league title. And with Leverkusen in semifinals of the domestic cup and the round-of-16 stage of the Europa League, Alonso could cap off a memorable second season in first-team management with a hat-trick of trophies.

Persons: ’, Michael Ballack, Oliver Neuville, Dimitar Berbatov, Zé Roberto, Zidane’s, Xabi Alonso, Alonso, Ina Fassbender, –, Jeremie Frimpong, Grimaldo –, Grimaldo, Frimpong, John Muller, “, ”, Jonathan Tag, Köln, Wolfgang Rattay, Thomas Tuchel’s Organizations: CNN, Bayer Leverkusen, Bundesliga, Borussia Dortmund, Champions League, Real Madrid, Leverkusen, Spain, Bayern Munich, English Premier League, Köln, Getty, Real Sociedad, Liverpool, Merseyside, League, Spanish national team, Real Madrid’s, Real, Benfica, The, Bayern, Europa League Locations: Liverpool, AFP, Istanbul, Leverkusen, Europe

☆ New F1 Team Names Bring Money, Marketing and Lots of Syllables
▼ + stars: | 2024-02-28 | by ( Ian Parkes | ) www.nytimes.com time to read: +1 min

Formula 1 has two new team names this season, which follow a trend in the sport to focus on marketing: Visa Cash App RB Formula One Team and Stake F1 Team Kick Sauber. Sauber Motorsport has been racing since 1993 under various names, most recently as Alfa Romeo. “Before Audi’s arrival, we felt it was important to present ourselves with this new identity and to have a commercial partnership in place,” said Alessandro Alunni Bravi, the Stake team representative. “The Sauber Group has been in Formula 1 for 32 years, but this doesn’t mean we have forgotten what Sauber is. “The reality is that we said from the outset last year that we would move closer to the Red Bull family.”

Persons: Romeo, ”, Alessandro Alunni Bravi, Toro Rosso, Andrea Fairchild, ” Peter Bayer, Bull Organizations: Sauber, Sauber Motorsport, Audi, Sauber Group, Visa

☆ This biotech startup wants to prevent unhappiness. Here's the pitch deck Matter Bioscience used to raise $26 million.
▼ + stars: | 2024-02-26 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

Read previewAxel Bouchon cofounded Matter Neuroscience in 2019 after leading the venture arms of pharma giants Moderna and Bayer. AdvertisementMatter has emerged from stealth with $26 million from ARCH Venture Partners, Polaris Partners, Exor Ventures, and Collaborative Fund, Business Insider has learned exclusively. That $26 million includes an initial seed round led by Polaris Partners and a Series A round led by ARCH Venture Partners. The startup views itself now as a consumer biotech startup, Bouchon said. Here's the 17-slide pitch deck Matter used to raise $26 million.

Persons: —, Axel Bouchon, Bouchon Organizations: Service, pharma, Moderna, Bayer, Business, Venture Partners, Polaris Partners, Exor Ventures, Fund, Brain Imaging, Icahn School of Medicine Locations: Maastricht, Netherlands, Mount Sinai, Seoul, South Korea

☆ Thomas Tuchel to leave post as Bayern Munich head coach at end of season
▼ + stars: | 2024-02-21 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

CNN —Thomas Tuchel will relinquish his post as Bayern Munich head coach at the end of the season, the club announced on Wednesday. Tuchel, who was hired as head coach of the German powerhouse in March 2023, will leave a year earlier than his original contract end date of June 2025. The Bavarians also lost 1-0 to Italian club Lazio in the first leg of their Champions League last-16 clash. “Our goal is to pursue a new footballing direction with a new head coach for the 2024/25 season. Tuchel’s departure at the end of the season comes amid widespread speculation that Bayern are potentially interested in Leverkusen’s highly-rated coach Xabi Alonso.

Persons: CNN — Thomas Tuchel, Tuchel, Bayer, Jan, Christian Dreesen, “, ” Dreesen, ” Tuchel, previsouly, Germain, Julian Nagelsmann, Alexandra Beier, Harry Kane, Kane, Tuchel’s, Xabi Alonso, Alonso, Jürgen Klopp Organizations: CNN, Bayern Munich, Bayern, Bundesliga, Bayer Leverkusen, Lazio, Champions League, ” Bayern, Allianz, Chelsea, Paris Saint, Borussia Dortmund, Getty, Tuchel’s Bayern, England, Tottenham Hotspur, Leverkusen, League, Bochum, Liverpool, English Premier League Locations: Paris, Tuchel, AFP

☆ Dayot Upamecano: Bayern Munich condemns racial abuse sent to defender after Champions League defeat
▼ + stars: | 2024-02-15 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —Bayern Munich has “strongly condemn[ed]” racist abuse directed at defender Dayot Upamecano following the team’s Champions League defeat against Lazio. That proved to be the decisive moment in the game as the Italian side went on to win 1-0. After the match, racist comments were left on the 25-year-old Upamecano’s Instagram page, including verbal abuse and monkey and gorilla emojis. We’re all behind you, Upa!”Upamecano hasn’t yet commented publicly on the racist comments. Bayern had 17 shots against Lazio but failed to get one on target, falling to a second defeat in five days after losing 3-0 against Bayer Leverkusen on Saturday.

Persons: Dayot Upamecano, Upamecano, Gustav Isaksen, Ciro, Dayot, “, Thomas Tuchel, Marco Rosi, ” Organizations: CNN — Bayern Munich, team’s Champions League, Lazio, Milan, “ FC Bayern, Upa, CNN, Bayern, Bayer Leverkusen, SS Lazio, ” Bayern, Champions League, Liverpool, Leverkusen, Bundesliga Locations: @acmilan, Munich

The Champions League narrative is so often about Manchester City and Real Madrid. The past two champions of Europe were the only teams to sweep through the group stage with six wins. BONUS ENTRIESEvery result in the Champions League, plus the Europa League and Europa Conference League, also counts toward UEFA’s longstanding ranking table of each country’s collective performance. Each Champions League win for Inter, Napoli and Lazio is good for all Italian clubs doing well in Serie A. And so, the 29 games left in the Champions League through the June 1 final in London have great value beyond the 16 clubs directly involved.

Persons: Erling Haaland, Madrid’s Jude Bellingham, Abu, Harry Kane’s, Kylian Mbappé, —, Madrid, ___ Organizations: Manchester City, Copenhagen, Everton, Champions League, Premier League, Liga, Bayern Munich, Bayer Leverkusen, Bayern, Bundesliga, Lazio, Paris Saint, Germain, Real Sociedad, Inter Milan, PSG, Borussia Dortmund, AC Milan, Inter, Atletico Madrid, PSV Eindhoven, Dortmund, Napoli, Barcelona, Porto, Arsenal, UEFA, FIFA, League, Chelsea, Benfica, Atletico, Spanish, Juventus, Europa League, Europa Conference League, Serie, —, Liverpool Locations: Real Madrid, Europe, Man, Madrid, Leipzig, Girona, Abu Dhabi, Bellingham, Paris, United States, Barcelona, Italy, Germany, Spain, Manchester, London

☆ Brazil Authorities Crack Down on Illegal Pesticides Trade
▼ + stars: | 2024-01-31 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

The parallel trade in pesticides, which would represent about 20% of the entire Brazilian market, according to a lobby group, highlights supply chain risks faced by global grain traders in farm powerhouse Brazil. Increasingly, criminals are using structures involving front companies that arrange false invoices, produce fake labels, smuggle and move the illegal products. For example, authorities tested batches of seized insecticide Thiamethoxam that showed a 95% concentration of the active ingredient, whereas the highest concentration allowed in Brazil is 50%, the PRF said. Last year, the industry welcomed a new law setting harsher penalties for those producing, storing or shipping illegal pesticides in Brazil. The new law was signed as seizures of illegal pesticides rose threefold in eight years, to 195.7 tons in 2023, according to PRF data.

Persons: Ana Mano, Criminals, Brazil's, Aurora Ellis Organizations: Ana Mano SAO PAULO, Reuters, Basf, Bayer Locations: Brazil, China, India

☆ Warren Buffett's Berkshire Hathaway keeps buying Liberty's SiriusXM tracking shares. Here's why
▼ + stars: | 2024-01-28 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Berkshire Hathaway continued to buy Liberty Media's tracking stock for New York-based satellite radio company SiriusXM in a likely merger arbitrage play. Billionaire John Malone's media conglomerate currently owns 84% of Sirius XM and has two tracking stocks that represent that stake in the streaming satellite music service — Liberty Media Corp. Series A shares, or LSXMA , and Liberty Media Corp. Series C shares, or LSXMK . Under the terms of the deal, expected to close early in the third quarter, each Liberty Media Sirius tracking share will be exchanged for 8.4 "new" SIRI shares, while "old" SIRI shareholders would receive new shares in a one-for-one exchange. Berkshire loading up In the past week, Warren Buffett's conglomerate added 438,945 shares of LSXMA and 1 million shares of LSXMK for nearly $45 million combined, according to regulatory filings . Berkshire first bought LSXMK in 2016 and now owns almost 22% of the tracking stock, according to FactSet.

Persons: Berkshire Hathaway, John, SIRI, Warren, Buffett, Ted Weschler, Todd Combs, Seth Klarman's Baupost, SIRI overvalued, Wells, Steven Cahall, Cahall, Jason Bazinet, Charlie Munger, Charlie, hasn't Organizations: Berkshire, Liberty, Sirius XM, — Liberty Media Corp, Liberty Media Corp, Nasdaq, Liberty Media, Liberty Media Sirius, Sirius XM Holdings, Sirius, Citigroup, Activision Blizzard, British Columbia Power, Monsanto, Bayer AG, IBM Locations: New York, Berkshire, LSXMA, LSXMK, Omaha

☆ Bayern Munich vs Union Berlin: Soccer head coach sent off after twice pushing opposition player in the face
▼ + stars: | 2024-01-25 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

CNN —Union Berlin’s head coach Nenad Bjelica was sent off for twice pushing Bayern Munich forward Leroy Sané in the face during a feisty Bundesliga encounter on Wednesday. As players and coaching staff rushed in to separate the pair, Bjelica again put his hand in Sané’s face. On the pitch, Bayern Munich was keen to hit back after losing to Werder Bremen last time out. Despite all its first-half dominance, Bayern began to creak as the game wore on and Union Berlin had a number of chances to equalize. The referee waved away the protests from Union Berlin’s players and Bayern managed to hold on for an important win.

Persons: Nenad Bjelica, Leroy Sané, Sané, Bjelica, “, ” Bjelica, Frederik Rønnow, Angelika Warmuth, Harry Kane, Raphaël Guerreiro, Kane, Union Berlin, Kevin Behrens, Konrad Laimer, Leon Goretzka Organizations: CNN — Union Berlin’s, Bayern Munich, Bayern, Werder Bremen, Reuters, Union, Union Berlin’s, ” Bayern, Bundesliga, Bayer Leverkusen

☆ Bayer CEO: Food is the most taken for granted resource on Earth
▼ + stars: | 2024-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBayer CEO: Food is the most taken for granted resource on EarthCNBC sits down with Bill Anderson, CEO at Bayer, Chris Abbott, CEO at Pivot Bio, and Kees Aarts, CEO and founder of Protix, to discuss the future of food.

Persons: Bill Anderson, Chris Abbott, Kees Aarts Organizations: Bayer, CNBC

☆ Brenntag to reshuffle divisions amid investor calls for break-up
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +1 min

Dec 5 (Reuters) - German chemicals distributor Brenntag (BNRGn.DE), which has come under pressure from activist investors to break up its businesses, on Tuesday said it would reshuffle its units to drive "independence and autonomy" of its two global divisions. The company will transfer all pharmaceutical activities from its essentials divisions to its specialities arm, while moving water treatment and finished lubricants businesses along with some semi-speciality products in the opposite direction. Brenntag is the latest in a series of old and famous German companies, such as Bayer (BAYGn.DE) and Thyssenkrupp (TKAG.DE), that have been targeted by activist investors to divest part of their business to improve profitability. It said the "operational and legal disentanglement" of the specialities and essentials divisions would create optionality and make Brenntag ready for next strategic steps by 2026. Reporting by Tristan Veyet and Matteo Allievi in Gdansk; editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

Persons: Tristan Veyet, Matteo Allievi, Milla Nissi Organizations: Bayer, Thomson Locations: Gdansk

☆ Blackstone explores sale of Anthos Therapeutics -sources
▼ + stars: | 2023-12-04 | by ( David Carnevali | ) www.reuters.com time to read: +2 min

Signage is seen outside the Blackstone Group headquarters in New York City, U.S., January 18, 2023. Anthos, which does not generate any revenue because its products have not yet hit the market, could be worth several billion dollars in a potential sale, significantly more than the $250 million that Blackstone invested when it founded Anthos in 2019, the sources said. The company's anticoagulants have made significant progress in late-stage clinical trials, the sources added. Blackstone is working with investment bankers to explore a sale of Anthos, the sources said, cautioning that no deal is certain and requesting anonymity because the matter is confidential. Anthos has licensed from Novartis an antibody used in the development of its blood thinners and granted it a minority stake.

Persons: Blackstone, Anthos, Bayer, Eliquis, David Carnevali, Leslie Adler Organizations: Blackstone Group, REUTERS, Blackstone Inc, Anthos Therapeutics, Novartis AG, Novartis, Myers Squibb, Alnylam Pharmaceuticals, Thomson Locations: New York City, U.S, Cambridge , Massachusetts, Anthos, Bristol, German, New York

Those losses ended a nine-trial winning streak for Bayer, shattering investor and company hopes that the worst of the Roundup litigation was over. Her case will help test whether plaintiffs' recent victories were an aberration, or the payoff from favorable court rulings and a shift in plaintiffs' strategy. Plaintiffs' lawyers reject the notion that the evidence about regulators explains their wins. While plaintiffs' lawyers in earlier trials mentioned other chemicals, transcripts of recent closing arguments suggest they have become more prominent. More Roundup trials are expected in 2024.

Persons: Wolfgang Rattay, Kelly Martel, Bayer, Martel, glyphosate, That's, Tom Kline, Jason Itkin, Ernest Caranci, Bart Rankin, Rankin, Brendan Pierson, Alexia Garamfalvi, Bill Berkrot Organizations: Bayer AG, REUTERS, Bayer, U.S, Monsanto, . Environmental Protection Agency, EPA, Union, Health, Thomson Locations: Wuppertal, Germany, Philadelphia, Pleas, Pennsylvania, Europe, New York

☆ The Race to Save Ketchup: Building a Tomato for a Hotter World
▼ + stars: | 2023-12-03 | by ( Patrick Thomas | Photographs Max Whittaker For The Wall Street Journal | ) www.wsj.com time to read: 1 min

In the heart of one of the world’s top vegetable-growing regions in California, scientists are on a mission to save ketchup. Plant breeders at the Woodland, Calif., facility of German pharmaceutical and agriculture giant Bayer are testing whether tomatoes meant for processing into pizza sauces and ketchup can survive on a fraction of their traditional water needs, without sacrificing taste or juiciness.

Locations: California, Calif

☆ Activist investor Ubben shutting down Inclusive Capital-sources
▼ + stars: | 2023-11-29 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

Jeffrey Ubben, Founder & CEO at ValueAct Capital, speaks on the Reuters Newsmaker event "The Future of Shareholder Activism" in Manhattan, New York, U.S., February 22, 2017. Ubben told investors in a memo he was winding down some funds and returning capital, two people familiar with the matter said on Wednesday. Ubben and Inclusive Capital, known as InCap, did not respond to calls and emails for comment. Last year more hedge funds closed their doors than launched, data from Hedge Fund Research show. More than two decades ago, Ubben, 61, who started his career at mutual fund giant Fidelity, founded ValueAct Capital in San Francisco.

Persons: Jeffrey Ubben, Andrew Kelly, Jeff Ubben, Ubben, InCap, Martha Stewart, John Paulson, Louis Bacon, Svea Herbst, Bayliss, Sabrina Valle, Josie Kao Organizations: ValueAct, Reuters, REUTERS, Capital Partners, Inclusive, Hedge Fund Research, Fidelity, Microsoft, Street Journal, Exxon, Rad Laboratories, Unifi Inc, Bayer, Svea, Thomson Locations: Manhattan , New York, U.S, San Francisco, Houston

☆ Bayer CEO Says Breakup Wouldn’t Fix All of the Company’s Ills
▼ + stars: | 2023-11-25 | by ( William Boston | ) www.wsj.com time to read: 1 min

Bayer CEO Bill Anderson is contending with his predecessor’s disastrous Monsanto acquisition and the need to re-energize Bayer’s drug pipeline. Photo: Krisztian Bocsi/Bloomberg NewsBERLIN— Bayer Chief Executive Bill Anderson said the company would bounce back quickly from a recent spate of bad news, and warned that a breakup of the pharmaceutical and agricultural company was no universal cure for its ailments. A stream of negative news has rekindled calls from investors for Bayer to unlock value by spinning off its units into separate businesses. But in an interview with The Wall Street Journal this week, Anderson said the company couldn’t be distracted from the tough restructuring to fix the businesses.

Persons: Bill Anderson, Krisztian Bocsi, Anderson Organizations: Bloomberg, BERLIN — Bayer, Bayer, Wall

☆ Exclusive: Bayer holds call with bond investors after raft of bad news
▼ + stars: | 2023-11-22 | by ( Shankar Ramakrishnan | Thomson Reuters | Shankar Ramakrishnan Has Nearly Years Of Financial Journalism Experience In Writing | ) www.reuters.com time to read: +3 min

The bad news prompted some bond investors to question whether Bayer should sweeten the terms of the deal or outright pull it, one of the sources said. The drug-to-pesticides group priced the investment grade bond on Thursday last week, with the deal closing on Tuesday. Bayer priced bonds with maturities between three to 30 years. It was the 10th largest investment grade bond deal by an industrial company this year and attracted more than $22 billion in orders, according to Informa Global Markets. The events were "not enough to trigger a material adverse change clause in bond documents for investors to ask to be paid back," said CreditSights' Brady.

Persons: Wolfgang Rattay, Bayer, Andrew Brady, CreditSights, JP Morgan, Wells, Brady, Shankar Ramakrishnan, Ludwig Burger, Mike Erman, Paritosh Bansal, Marguerita Choy Organizations: Bayer AG, REUTERS, Bayer, Nomura Holdings, Informa Global Markets, Citigroup, Nikko Securities America, RIC, Thomson Locations: Leverkusen, Germany, Seattle

☆ Monsanto hit with $165 million verdict over PCBs in Seattle school
▼ + stars: | 2023-11-22 | by ( Clark Mindock | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +2 min

REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsNov 21 (Reuters) - A U.S. jury has ordered Bayer's Monsanto to pay $165 million to employees of a school northeast of Seattle who claimed chemicals made by the company called polychlorinated biphenyls, or PCBs, leaked from light fixtures and got them sick. The award included nearly $50 million in compensatory damages, and $115 million in punitive damages. Monsanto said in a statement that it will contest Monday's verdict, and that blood, air and other tests show the school employees were not exposed to unsafe levels of PCBs. PCBs are chemicals once widely used to insulate electrical equipment and in other common products like carbon copy paper, caulking, floor finish and paint. Employees, students and others have claimed in numerous lawsuits against the company that exposure to PCBs at the Sky Valley center caused their cancers, thyroid conditions and other health problems.

Persons: Wolfgang Rattay, Monsanto, Clark Mindock, Alexia Garamfalvi, Richard Chang Organizations: Bayer AG, REUTERS, Monsanto, Sky Valley Education, Thomson Locations: Leverkusen, Germany, U.S, Seattle, Washington, Sky, Monroe , Washington

The Nasdaq boasted its highest closing level since July 31 while the S&P 500 registered its highest close since Aug. 1. Its biggest boost came from Microsoft (MSFT.O) shares which touched a record high and ended up 2%. The benchmark S&P 500 (.SPX) ended less than 1% below its 2023 closing peak reached in late July. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The S&P 500 posted 29 new 52-week highs and one new low; the Nasdaq Composite recorded 78 new highs and 90 new lows.

Persons: Bristol Myers, Satya Nadella, Sam Altman, Greg Brockman, Bruce Zaro, Dow, Brendan McDermid, Germany's Bayer, decliners, Sinéad Carew, Amruta, Maju Samuel, Pooja Desai, Richard Chang Organizations: Microsoft, Bristol, Dow, Nasdaq, Nasdaq's, Nvidia, Apple, Granite Wealth Management, Dow Jones, Federal, New York Stock Exchange, REUTERS, Graphics, Traders, Bristol Myers Squibb, Sunday, Boeing, Deutsche Bank, NYSE, Thomson Locations: Providence , Rhode Island, New York City, U.S, Thursday's U.S, New York

[1/3] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Closely watched U.S. treasury yields slipped after auction, while global oil futures gained $2 on the prospect of supply cuts. Europe's benchmark STOXX index (.STOXX) inched up 0.1%, with energy stocks (.SXEP) leading gains. The healthcare sector (.SXDP) fell after shares in Bayer (BAYGn.DE) dropped to their lowest in 14 years. The dollar index fell to 103.26, its weakest since the start of September, as investors appeared to solidify bets that the Fed could start cutting interest rates next year.

Persons: Brendan McDermid, Dow Jones, Quincy Krosby, Krosby, Ricardo Evangelista, Goldman Sachs, Moody's, Brent, Chris Prentice, Wayne Cole, Lawrence White, Lincoln, Susan Fenton, Will Dunham, Sharon Singleton, Andrew Heavens Organizations: New York Stock Exchange, REUTERS, Nvidia, U.S, Bayer, Nasdaq, Microsoft, Nikkei, Trading, LPL, Tech, European Central Bank, NAB, Thomson Locations: New York City, U.S, SYDNEY, Thursday's U.S, United States, Europe, Italy, New York, Sydney, London

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The S&P 500 information technology sub-index (.SPLRCT), up 1.6%, was the top gainer among the S&P 500's 11 major sectors, getting its biggest boost from Microsoft's shares (MSFT.O) which touched a record high and were last up 2%. Microsoft will also take on Greg Brockman, another OpenAI cofounder, as well as other researchers. The benchmark S&P 500 (.SPX) was also closing back in on its year-to-date high reached in July, just a little over 1% below the milestone. The S&P 500 posted 25 new 52-week highs and one new low; the Nasdaq Composite recorded 70 new highs and 78 new lows.

Persons: Brendan McDermid, Bristol Myers, Satya Nadella, Sam Altman, Greg Brockman, Bruce Zaro, Germany's Bayer, decliners, Sinéad Carew, Amruta, Maju Samuel, Pooja Desai, Richard Chang Organizations: New York Stock Exchange, REUTERS, Microsoft, Bristol, Dow, Nasdaq, Apple, Nvidia, Investors, Granite Wealth Management, Dow Jones, Federal, Traders, Graphics, Bristol Myers Squibb, Sunday, Boeing, Deutsche Bank, NYSE, Thomson Locations: New York City, U.S, Providence , Rhode Island, Thursday's U.S, New York

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Microsoft's shares (MSFT.O) advanced 2% before the bell after CEO Satya Nadella said Altman is set to join the company to lead a new advanced AI research team. Other megacap stocks were mixed, with Nvidia (NVDA.O) edging 0.6% higher, while Alphabet (GOOGL.O) slipped 0.8%. The benchmark S&P 500 (.SPX) is now only 2% away from its highest level this year reached in July. ET, Dow e-minis were up 18 points, or 0.05%, S&P 500 e-minis were up 3.5 points, or 0.08%, and Nasdaq 100 e-minis were up 28.25 points, or 0.18%.

Persons: Brendan McDermid, Bristol Myers, Sam Altman, Satya Nadella, Altman, Susannah Streeter, Hargreaves Lansdown, Nvidia, Germany's Bayer, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Microsoft, Bristol, Dow, Nasdaq, Federal Reserve, Nvidia, Fed, Traders, Dow e, Bristol Myers Squibb, Sunday, Thomson Locations: New York City, U.S

☆ Bayer Shares Tumble After Clinical Trial Failure, Loss in Roundup Case
▼ + stars: | 2023-11-20 | by ( Adrià Calatayud | Jared S. Hopkins | ) www.wsj.com time to read: 1 min

Bayer’s court loss on its Roundup weedkiller was the fourth decision in a row to go against the company. Photo: wolfgang rattay/ReutersBayer shares fell sharply after the company stopped a late-stage study for a blood-thinning drug early because of lack of efficacy and was told to pay $1.56 billion in a lawsuit relating to its Roundup weedkiller. Bayer said late Sunday that it discontinued a Phase 3 clinical trial to test its experimental drug asundexian for prevention of stroke and systemic embolism for patients with the heart-rhythm disorder atrial fibrillation.

Persons: wolfgang rattay, Bayer Organizations: Bayer

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