Check out the companies making headlines before the bell. Morphic Holding — Shares surged more than 75% on news that Eli Lilly will acquire the biopharma company in a $3.2 billion deal . The deal will give Eli Lilly access to Morphic’s portfolio of treatments in development, such as those for ulcerative colitis and Crohn’s disease. Eli…
Tema ETFs has been capitalizing on the risk appetite for weight loss stocks. It is behind the GLP-1, Obesity & Cardiometabolic ETF (HRTS), which is up 26% since its inception last November. The firm’s founder and CEO Maurits Pot thinks the winning weight loss trade isn’t based on just hype. “The companies we track and…
CFOTO | Future Publishing | Getty Images Check out the companies making headlines in midday trading: Nvidia — Shares of the artificial intelligence darling fell 1% after a rare negative call on Wall Street. New Street Research downgraded Nvidia to hold from buy, citing limited upside given the big run already this year. It is…
Check out the companies making headlines before the bell. Crypto stocks — Stocks tied to bitcoin price slid after the cryptocurrency dropped 5% to its lowest level since February , with the now defunct Mt. Gox exchange beginning repayments to creditors, as expected . Coinbase and MicroStrategy each lost 5% in premarket trading. Among miners,…
Employees work on the assembly line of electric vehicles in a digital automotive factory of Jiangling Motors on May 17, 2024. Vcg | Visual China Group | Getty Images BEIJING — China hopes to reach an agreement with the European Union soon on the bloc’s planned tariffs for imported Chinese electric cars, the Ministry of…
One exchange-traded fund is betting on a U.S. manufacturing job resurgence. Tema ETFs CEO and founder Maurits Pot is behind the American Reshoring ETF (RSHO) that focuses on industrials. “Some will call it deglobalization. We’re in the early innings,” Pot told CNBC’s “ETF Edge” this week. “At the heart of it is job creation, manufacturing…
Federal Reserve officials at their June meeting indicated that inflation is moving in the right direction but not quickly enough for them to lower interest rates, minutes released Wednesday showed. “Participants affirmed that additional favorable data were required to give them greater confidence that inflation was moving sustainably toward 2 percent,” the meeting summary said.…
Check out the companies making headlines in midday trading: Paramount Global — The media and entertainment stock popped nearly 7% on news that Skydance Media has reached a preliminary merger deal with controlling shareholder National Amusements. Paramount Global’s special committee is reviewing and voting on the agreement , CNBC reported, citing a person familiar with…
JPMorgan’s Marko Kolanovic. Crystal Mercedes | CNBC A top strategist at JPMorgan who was caught offside by the stock market rally is quitting the investment firm. Marko Kolanovic, who served as chief global markets strategist and co-head of global research, is leaving the bank to explore other opportunities, according to a source familiar with the…
Check out the companies making headlines before the bell. Paramount Global — Shares of Paramount Global surged more than 12% on news that Skydance Media has reached a preliminary deal to buy National Amusements, the company’s controlling shareholder. The New York Times and Wall Street Journal first reported news of the agreement. Tesla — The…
