ADVFN US – Market Content Editor
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Monte Rosa Therapeutics jumps in premarket on Novartis collaboration
Monte Rosa Therapeutics (NASDAQ:GLUE) shares surged in premarket trading Monday, climbing 65.3% to $7.94 after the biotech firm announced a new collaboration with Novartis (NYSE:NVS) to develop molecular glue degraders (MGDs) targeting immune-mediated diseases. The Boston-based company said Novartis will gain an exclusive license to one undisclosed discovery target and hold options to license two…
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VF Corp climbs after striking $600M deal to sell Dickies brand to Bluestar
Shares of VF Corporation (NYSE:VFC) edged higher Monday after the company said it has signed a definitive agreement to divest its Dickies brand to Bluestar Alliance in an all-cash deal worth $600 million. The transaction, expected to close before the end of 2025, will allow VF to bring down its debt load and should boost…
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Alaska Air signals weaker earnings outlook for Q3 amid fuel and operational pressures
Alaska Air (NYSE:ALK) cautioned on Monday that its third-quarter adjusted profit will likely come in at the lower end of its previously forecast range of $1.00 to $1.40 per share, citing elevated fuel costs and ongoing operational headwinds during the busy summer season. In a filing, the airline explained that refining margins on the U.S.…
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Envirotech Vehicles shares skyrocket after debut of heavy-lift drone
Envirotech Vehicles, Inc. (NASDAQ:EVTV) surged 60% on Monday following the unveiling of what the company says is the first U.S.-made drone capable of carrying 1,500 pounds, with applications in both agriculture and firefighting. The advanced transportation and defense technology firm said the new model can deliver payloads of up to 1,500 pounds — a figure…
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Hims & Hers stock slips after FDA chief criticizes ad practices
Shares of Hims & Hers (NYSE:HIMS) moved lower in premarket trading on Monday, following comments from U.S. Food and Drug Administration (FDA) Commissioner Martin Makary, who said the company’s Super Bowl advertisement broke federal rules by promoting weight-loss treatments without mentioning potential risks. By 06:55 ET (10:55 GMT), the stock was down 2.8%. In an…
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Tesla jumps after Musk snaps up $1B stake in stock
Tesla (NASDAQ:TSLA) surged in premarket trading Monday, climbing about 6%, after CEO Elon Musk revealed he had scooped up nearly $1 billion worth of the company’s shares on the open market. Regulatory filings show Musk acquired 2.57 million Tesla shares on September 12, paying between $372.37 and $396.54 per share. The buying spree has pushed…
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Chipmakers Slide as Beijing Targets U.S. Semiconductor Firms in New Probes
Semiconductor stocks tied to the auto and industrial sectors fell sharply on Monday after China announced fresh investigations into the U.S. chip industry, coinciding with ongoing trade negotiations between Washington and Beijing in Madrid. Texas Instruments (NASDAQ:TXN) dropped 3.1%, ON Semiconductor (NASDAQ:ON) lost 2%, NXP Semiconductors (NASDAQ:NXPI) declined 3.5%, and Analog Devices (NASDAQ:ADI) slipped 3%.…
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Five Key Market Events to Watch in the Week Ahead
Investors are keeping a close eye on the Federal Reserve this week, with expectations high that the central bank will cut interest rates. Other major central banks, including those of Canada, the U.K., and Japan, are also scheduled to announce their latest policy decisions. Meanwhile, U.S. retail sales growth for August is expected to slow,…
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China extends antitrust probe into Nvidia, shares slip
China’s market regulator announced on Monday that it will prolong its antitrust investigation into U.S. semiconductor company Nvidia (NASDAQ:NVDA) after initial findings suggested the company may have violated the country’s competition laws. The inquiry centers on Nvidia’s 2020 acquisition of Israeli chip designer Mellanox Technologies, which Beijing had approved under specific conditions. Chinese authorities allege…
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Stocks may “turn more cautious” if Fed resumes rate cuts, JPMorgan warns
Equity markets that have recently shown strong gains could adopt a more cautious stance if the Federal Reserve restarts policy easing later this week, according to analysts at JPMorgan Chase. Investors appear to have taken comfort in the prospect of lower borrowing costs, using it to “look through” recent soft U.S. labor market data, the…