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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.

☆ Lightning Round: We're not gonna recommend an stocks that are oozing big money
▼ + stars: | 2023-03-15 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: We're not gonna recommend an stocks that are oozing big moneyMad Money host Jim Cramer weighs in on all manner of stocks, including Vir Biotechnology, Pfizer, Seagen and Origin Materials.

☆ ‘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.

"Starting on April 1, Medicare beneficiaries will pay lower coinsurance for Part B drugs that raise prices faster than inflation," White House Domestic Policy Adviser Susan Rice told reporters on a press call. Companies that raise prices higher than the inflation rate will be required to pay Medicare the difference in the form of a rebate. The government will start invoicing the companies for the rebates in 2025 but Medicare will start reducing out-pocket-costs for members in April. Medicare began examining the price increases in October 2022 for Medicare Part B drugs, often used in the hospital, that are complicated biologic drugs or drugs with only one manufacturer. Price increases for half of all drugs covered by Medicare outpaced inflation from 2019 to 2020, which averaged 1% that year.

☆ CNBC Daily Open: The bank rout continues. The Fed might still raise rates anyway
▼ + stars: | 2023-03-14 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Bank of America tumbled 5.81% and Charles Schwab sank 11.57% even as the Schwab sought to reassure fears, saying it has "access to significant liquidity." Despite the turmoil in the banks, markets and analysts expect the Fed to go through with rate hikes. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Banks got hammered by SVB's collapse. But the Fed might still raise rates
▼ + stars: | 2023-03-14 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

The exterior of a First Republic Bank branch is seen on Barclay Street on March 13, 2023 in New York City. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The biggest losers: First Republic Bank plunged 61.83%, Western Alliance Bancorp plummeted 57.06% and KeyCorp sank 27.33%. Despite the turmoil in the banks, markets and analysts expect the Fed to go through with rate hikes. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ Sliding bank shares drag Wall Street down in choppy trade
▼ + stars: | 2023-03-13 | by ( David Carnevali | ) www.reuters.com time to read: +4 min

But many speculated the central bank could now become less hawkish, and the yield on the 2-year Treasury tumbled. Shares of SVB's peer Signature Bank (SBNY.O), which was also shut down by regulators, were halted. Weighing on the S&P 500, Charles Schwab (SCHW.N) tumbled 11.56% upon resuming trade after the financial services company reported a 28% decline in average margin balances and a 4% fall in total client assets for February. Shares of big U.S. banks, including JPMorgan Chase & Co (JPM.N), Citigroup (C.N), and Wells Fargo (WFC.N) all lost ground. The S&P 500 posted 1 new 52-week highs and 48 new lows; the Nasdaq Composite recorded 29 new highs and 526 new lows.

☆ Pfizer Overpays for Seagen, but Who’s Counting
▼ + stars: | 2023-03-13 | by ( David Wainer | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/pfizer-overpays-for-seagen-but-whos-counting-695be747

Washington-based Seagen is a pioneer of antibody-drug conjugates, which work like "guided missiles" designed for a targeted destructive effect and spare healthy cells. The Pfizer logo is pictured on their headquarters building in the Manhattan borough of New York City, New York, U.S., November 9, 2020. The drugmaker expects more than $10 billion in sales from Seagen products in 2030, and another $15 billion from its other recent acquisitions. Pfizer said antitrust regulators could closely review the deal due to its size but eventually approve it. Pfizer rival Merck & Co Inc (MRK.N) and Seagen were in advanced deal talks last year but those reportedly collapsed over antitrust concerns.

But your second thought is, how big was that crisis, how big were the risks that this step had to be taken?" Trading in shares of SVB's peer Signature Bank (SBNY.O), which was shut down by regulators on Sunday, was halted. Shares of big U.S. banks including JPMorgan Chase & Co (JPM.N), Morgan Stanley (MS.N) and Bank of America (BAC.N) fell between 2.8% and 6.3%. The KBW regional banking index fell 11.2%, while the S&P 500 banks index (.SPXBK) dropped 7.7%. The S&P index recorded no new 52-week highs and 44 new lows, while the Nasdaq recorded 19 new highs and 321 new lows.

Helping futures for the tech-heavy Nasdaq gain nearly 1%, U.S. two-year Treasury yields tumbled to more than a month low, while futures for the cyclicals-heavy Dow Jones edged lower. Big Tech and growth companies such as Meta Platforms (META.O), Amazon (AMZN.O) and Microsoft (MSFT.O) rose between 1% and 2% premarket. Traders' bets are currently equally split between a pause and a 25-basis-point rate hike at the Fed's next meeting in March. The projections of a terminal rate have also receded to just under 5% by June from around 5.5% in September earlier. ET, Dow e-minis were down 48 points, or 0.15%, S&P 500 e-minis were up 5.5 points, or 0.14%, and Nasdaq 100 e-minis were up 99.25 points, or 0.84%.

☆ Pfizer Agrees to Buy Seagen for $43 Billion
▼ + stars: | 2023-03-13 | by ( Jared S. Hopkins | Jonathan D. Rockoff | ) www.wsj.com time to read: 1 min

Pfizer has been looking for acquisitions to help it offset losses in sales. Pfizer Inc. has agreed to pay $43 billion for biotech Seagen Inc. and its pioneering class of targeted cancer drugs. Under the terms, Pfizer would pay $229 a share cash, the drugmaker said Monday. The companies expect the deal to close late this year or early next year.

☆ Pfizer signs $43 bln Seagen deal in cancer drug push
▼ + stars: | 2023-03-13 | by ( Manas Mishra | ) www.reuters.com time to read: +2 min

The deal, Pfizer's biggest in a string of acquisitions after a once-in-a-lifetime cash windfall from its COVID-19 vaccine and pill, will add four approved cancer therapies with combined sales of nearly $2 billion in 2022. Pfizer will pay $229 in cash per Seagen share, a 32.7% premium to Friday's closing price. The drugmaker expects more than $10 billion in "risk-adjusted" sales from Seagen in 2030. Pfizer's portfolio of oncology therapies includes 24 approved drugs, including breast cancer treatment Ibrance. Pfizer rival Merck & Co Inc (MRK.N) and Seagen were in advanced deal talks last year but that reportedly collapsed over fears of tough antitrust scrutiny.

☆ Stocks making the biggest moves midday: First Republic Bank, Moderna, Newmont, Illumina and more
▼ + stars: | 2023-03-13 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

REUTERS/Mike SegarCheck out the companies making the biggest moves midday:Regional banks —Shares of regional banks plummeted following the collapse of Silicon Valley Bank and Signature Bank. Citi , Bank of America , Goldman Sachs — Shares of major banks also saw losses after the closure of the Silicon Valley Bank and Signature Bank. Moderna — The biotechnology company's shares gained nearly 6% after TD Cowen upgraded the stock to outperform from market perform. Spot gold passed the key level of $1,900 as investors bet the Federal Reserve may tone down rate hikes on the heels of Silicon Valley Bank's collapse. Over the weekend, NBC News reported that the e-commerce company warned sellers that the collapse of Silicon Valley Bank is causing delays in processing payments.

☆ Stocks making the biggest moves premarket: Illumina, First Republic, Seagen and more
▼ + stars: | 2023-03-13 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

First Republic — Shares of First Republic cratered more than 64% before the bell, building on last week's losses. Shares led a decline in bank stocks despite plans from the government to backstop depositors of Silicon Valley Bank and Signature Bank. PNC — Shares lost nearly 5.2% early Monday morning after the bank decided against bidding on Silicon Valley Bank as regulators struggle to find buyers for the failed bank. The streaming and media company said in a Friday SEC filing that around $487 million, or 26%, of its cash reserves are stuck at Silicon Valley Bank. Petco Health and Wellness — Shares slipped less than 1% after the company was downgraded by Citi to neutral from buy.

☆ Pfizer CEO says it will be able to deliver Seagen's cancer therapy at a scale not seen before with $43 billion deal
▼ + stars: | 2023-03-13 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

Pfizer CEO Albert Bourla on Monday said the pharmaceutical giant will be able to deliver Seagen's cancer therapy to the world "at a scale that has not been seen before" with its $43 billion acquisition. Seagen will bulk up Pfizer's cancer treatment portfolio, bringing four approved cancer therapies with combined sales of nearly $2 billion in 2022. "These medicines are on a strong growth trajectory, with significant lifecycle programs anticipated to drive continued impact uptake and growth," Bourla said on a conference call earlier Monday morning. Seagen expects to generate about $2.2 billion in revenue this year, representing 12% year-over-year growth, according to a Pfizer press release. Pfizer added that Seagen could contribute more than $10 billion in risk-adjusted sales by 2030, "with potential for significant growth" beyond that year.

☆ The Pfizer-Seagen deal has a hidden $1 billion warning for workers
▼ + stars: | 2023-03-13 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +2 min

While the deal bolsters Pfizer's cancer portfolio, it also mean cuts focused on "eliminating duplication"Pfizer said it is aiming for $1 billion in "cost efficiencies" within 3 years of the deal. Pharmaceutical giant Pfizer said on Monday that it would acquire drug developer Seagen in a massive $43 billion deal that would bolster its oncology portfolio. The acquisition is the largest biopharma deal since 2019 when AbbVie acquired Allergan for $63 billion, according to Stat News. Namely, Pfizer is aiming for $1 billion in "cost efficiencies" within three years of the deal closing, which could mean job cuts. Pfizer's deal for Seagen is expected to close in late 2023 or early 2024.

☆ Pfizer just made a $43 billion bet on a precise new way of attacking cancer
▼ + stars: | 2023-03-13 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +2 min

Pfizer is betting big on cancer treatments. On Monday, the company said that it was acquiring Seagen in a $43 billion deal. Seagen sells four cancer drugs and is expected to bring in $2.2 billion in revenue this year. Seagen is expected to bring in $2.2 billion in revenue this year, and Pfizer said that figure could reach $10 billion in 2030. Pfizer said that the deal would double the number of early-stage cancer treatments that the company is testing.

☆ Seagen has one of the greatest technologies to battle cancer: Pfizer CEO on acquisition
▼ + stars: | 2023-03-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSeagen has one of the greatest technologies to battle cancer: Pfizer CEO on acquisitionAlbert Bourla, Pfizer CEO, joins 'Squawk on the Street' to discuss his thoughts on the company buying Seagen.

☆ Pfizer’s $43 bln deal is a pricey pipeline fix
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, March 13 (Reuters Breakingviews) - Pfizer (PFE.N) has found a partial, costly replacement for waning sales of Covid-19 vaccines. The $225 billion pharmaceutical giant said Monday it had agreed to shell out $43 billion for oncology specialist Seagen (SGEN.O), inclusive of net debt. Snag is, Pfizer’s return will probably be low, and the deal may not even receive antitrust approval. Add estimated savings of $1 billion and the result is $1.2 billion of operating profit after tax, assuming the statutory corporate rate. That’s about a 3% return on the purchase price, similar to what Breakingviews estimated when news of talks leaked in February.

☆ Why Big Drugmakers Want to Buy Cancer Biotech Seagen
▼ + stars: | 2023-03-06 | by ( Jared S. Hopkins | ) www.wsj.com time to read: 1 min

Pfizer is one drugmaker that has shown interest in buying Seagen, The Wall Street Journal recently reported. An unprofitable biotech that pioneered a relatively new kind of cancer therapy has caught the attention of the world’s largest drugmakers on the hunt for the next big opportunity in one of the industry’s most lucrative markets. Seagen Inc. sells three of the novel cancer agents—known as antibody drug conjugates, or ADCs—that work like a guided missile attacking tumors with toxins. Although the company’s products generate around $2 billion in yearly sales and the company operates at a loss, it has a market valuation of roughly $30 billion.

☆ Seagen’s Cancer Therapy Is Making It a Takeover Target
▼ + stars: | 2023-03-06 | by ( Jared S. Hopkins | ) www.wsj.com time to read: 1 min

☆ Stocks close slightly up after prior week's selloff
▼ + stars: | 2023-02-27 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

All three main stock indexes climbed more than 1% shortly after the opening bell, in part due to an easing in Treasury yields, and all three closed well off their session highs. Stocks steadily gave up gains throughout the session as U.S. Treasury yields moved off the day's lows. Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 27, 2023. Advancing issues outnumbered declining ones on the NYSE by a 1.69-to-1 ratio; on Nasdaq, a 1.41-to-1 ratio favored advancers. The S&P 500 posted 4 new 52-week highs and 8 new lows; the Nasdaq Composite recorded 71 new highs and 102 new lows.

☆ Wall Street bounces modestly after prior week's selloff
▼ + stars: | 2023-02-27 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Each of the three main indexes climbed more than 1% shortly after the opening bell, in part due to an easing in Treasury yields. The yield on two-year Treasury notes , which typically moves in step with interest rate expectations, slipped after touching a near four-month high. Seagen Inc (SGEN.O) surged 9.73% after the Wall Street Journal reported that Pfizer (PFE.N) was in early talks to acquire the biotech firm. Advancing issues outnumbered declining ones on the NYSE by a 2.30-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored advancers. The S&P 500 posted four new 52-week highs and five new lows; the Nasdaq Composite recorded 58 new highs and 82 new lows.

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