Category: Latest News
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U.S. Regional Manufacturing Activity Slumps Unexpectedly in December
Manufacturing conditions in the U.S. Northeast deteriorated sharply in December, according to data published Monday by the Federal Reserve Bank of New York, catching economists off guard. The New York Fed’s general business conditions index fell into negative territory, dropping to -3.9 in December from 18.7 in November. A reading below zero signals contraction in…
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Dow Jones, S&P, Nasdaq, Wall Street, U.S. Futures Signal Early Bounce After Friday’s Sell-Off
Futures linked to the main U.S. equity benchmarks were pointing higher ahead of Monday’s opening bell, suggesting Wall Street may attempt an initial rebound after the sharp losses recorded at the end of last week. Some investors appear ready to step back into the market following Friday’s pullback, which was driven largely by heavy selling…
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Intel Shares Edge Higher on Tech Rally and Reported SambaNova Talks
Intel (NASDAQ:INTC) shares gained about 1.25% on Monday, supported by broader strength across technology stocks and reports that the chipmaker is in late-stage discussions to acquire artificial intelligence startup SambaNova Systems for roughly $1.6 billion. Bloomberg reported on Friday that Intel is engaged in advanced negotiations to buy the Palo Alto, California-based company, with a…
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Alphabet Is Best Placed for the Next Stage of AI, Bank of America Says
Alphabet (NASDAQ:GOOG) is the stock most favorably positioned for the next phase of artificial intelligence, according to Bank of America, as investor attention shifts away from sheer capital spending and toward monetization, returns and sustainable competitive advantages. In a broad assessment of AI investment and revenue potential among hyperscalers, BofA analysts said expectations around AI…
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Greenwich LifeSciences Shares Jump on Early Breast Cancer Trial Readout
Shares of Greenwich LifeSciences (NASDAQ:GLSI) soared about 37% after the clinical-stage biotech released early data from its FLAMINGO-01 study indicating a sharp drop in breast cancer recurrence rates. The company said preliminary analysis from the open-label, non-HLA-A02 arm of the trial — which includes 250 patients — showed an estimated reduction in recurrence of roughly…
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Zillow Shares Slide After Google Trials New Property Advertising Tool
Zillow Group Inc. (NASDAQ:ZG) shares dropped more than 5.5% on Monday after reports that Google is piloting a new real estate advertising format that could eventually encroach on Zillow’s core business. Google has begun testing a mobile-focused property ad experience that places detailed real estate listings directly within search results. The format includes property information,…
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Adaptive Biotechnologies Enters Two TCR Licensing Agreements With Pfizer
Adaptive Biotechnologies Corporation (NASDAQ:ADPT) has entered into two separate agreements with Pfizer Inc. (NYSE:PFE) that will see the companies collaborate on T-cell receptor (TCR) research to support drug discovery and development. The first deal focuses on rheumatoid arthritis, with Adaptive deploying its immune medicine platform to identify T-cell receptors linked to disease activity. Using Pfizer’s…
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FibroGen Shares Advance After Roxadustat Earns Orphan Drug Status
Shares of FibroGen, Inc. (NASDAQ:FGEN) climbed about 3% on Monday after the company said its drug candidate roxadustat has been granted Orphan Drug Designation by the U.S. Food and Drug Administration for the treatment of myelodysplastic syndromes (MDS). The designation was awarded by the FDA’s Office of Orphan Products Development and comes with several potential…
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Kyverna Shares Jump on Strong Results From SPS Clinical Trial
Kyverna Therapeutics (NASDAQ:KYTX) shares climbed 14% on Monday after the company reported encouraging topline outcomes from its registrational Phase 2 KYSA-8 study evaluating mivocabtagene autoleucel (miv-cel) in patients with stiff person syndrome (SPS). The clinical-stage biotech said the CAR T-cell therapy delivered statistically significant benefits across all primary and secondary endpoints. Patients treated with miv-cel…
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Milestone Pharmaceuticals Shares Rally After FDA Greenlights First At-Home PSVT Nasal Therapy
Milestone Pharmaceuticals (NASDAQ:MIST) shares jumped roughly 35% after the U.S. Food and Drug Administration approved CARDAMYST, the first nasal spray that patients can self-administer to treat paroxysmal supraventricular tachycardia (PSVT). The decision introduces the first new treatment option in more than three decades for the estimated 2 million people in the U.S. affected by PSVT,…