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Strategy Shares Rise 2.7% After Citi Raises Price Target to $240
Strategy (NASDAQ:MSTR) shares rose 2.7% in pre-market trading on Friday after Citi increased its price target on the stock to $240 from $136. Citi said its revised valuation incorporates an estimated 34% contribution from a higher Bitcoin price over the next 12 months and approximately 16% from an expansion in Strategy’s multiple to net asset…
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Alaska Airlines Expands International Seattle Network as Competition With Delta Increases
Alaska Airlines (NYSE:ALK) is expanding its international operations from Seattle as it seeks a larger share of premium and long-haul travel, increasing its direct competition with Delta Air Lines (NYSE:DAL) at its home airport. The airline plans to increase its intercontinental destinations from Seattle to at least 15 by 2030 and become the city’s largest…
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Nike Shares Fall Nearly 9% After Revenue Miss and Fiscal 2027 Outlook
Nike (NYSE:NKE) shares fell nearly 9% in pre-market trading on Friday after the sportswear company reported fiscal first-quarter revenue below market expectations and forecast a high-single-digit revenue decline for fiscal 2027. Nike reported adjusted earnings of $0.48 per share, above Wall Street expectations of $0.44. Revenue was $11.21 billion, compared with estimates of $11.35 billion,…
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Amazon Reportedly Seeks Investors for $8 Billion Nvidia Chip Financing Structure
Amazon (NASDAQ:AMZN) is seeking external investors for a financing arrangement involving approximately $8 billion of advanced Nvidia (NASDAQ:NVDA) chips, the Financial Times reported, citing people familiar with the matter. According to the report, Amazon has held discussions with investors in recent weeks to assess interest in a proposed structure that would place thousands of Nvidia…
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Broadcom Financing Syndicate Reportedly Seeks $60 Billion for Anthropic and Other AI Companies
Broadcom (NASDAQ:AVGO) and its Wall Street banking syndicate are beginning efforts to arrange approximately $60 billion in new financing intended to support Anthropic (NASDAQ:ANTP) and other artificial intelligence companies, Bloomberg reported on Friday, citing people familiar with the matter. Banks participating in the financing are expected to distribute syndication materials for a $42 billion Class…
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Novartis Signs RNA Therapy Licensing Deal With China’s Abogen Worth Up to $7.8 Billion
Novartis (NYSE:NVS) has entered into a licensing agreement with Chinese biotechnology company Abogen covering an experimental RNA-based therapy and other potential treatments developed using Abogen’s technology platform. Under the agreement, Abogen will receive an upfront payment of $575 million and could receive an additional $7.2 billion in payments if specified development and regulatory milestones are…
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ON Semiconductor Shares Rise 6.5% After Synaptics Acquisition Terms Revised
ON Semiconductor (NASDAQ:ON) shares rose 6.5% in pre-market trading after the company amended the terms of its proposed acquisition of Synaptics (NASDAQ:SYNA), replacing the original all-stock structure with an all-cash transaction. Under the revised agreement announced on October 1, ON Semiconductor will acquire Synaptics for $123 per share in cash, valuing the transaction at approximately…
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Synaptics Shares Rise 13.8% After Merger Terms Revised to $123-Per-Share Cash Offer
Synaptics (NASDAQ:SYNA) shares rose 13.8% in pre-market trading after ON Semiconductor (NASDAQ:ON) and Synaptics amended their merger agreement to convert the proposed transaction from an all-stock deal to an all-cash acquisition. Under the revised agreement announced on October 1, ON Semiconductor will acquire Synaptics for $123 per share in cash, valuing the company at approximately…
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Gold Holds Near $4,180 Ahead of U.S. Employment Report
Gold prices were little changed on Friday as investors awaited September U.S. employment data, while the dollar remained near a 17-month high and Treasury yields stayed elevated. Spot gold rose 0.1% to $4,179.65 an ounce by 06:47 GMT, while U.S. gold futures gained 0.2% to $4,210.15. Gold was on course for a second consecutive weekly…
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Oil Prices Edge Lower as Markets Assess U.S.-Iran Risks and Recovering Supply
Oil prices moved lower on Friday following gains in the previous session, as investors assessed the risk of further escalation in the U.S.-Iran conflict alongside signs of recovering energy exports from parts of the Middle East. As of 06:35 GMT, Brent crude futures for December delivery fell 0.7% to $101.61 per barrel, while West Texas…