Inventory futures are up after the S&P 500 hit a report shut on the heels of inflation figures that had been the very best in many years. Right here’s what we’re watching in Monday’s buying and selling:
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Area Prescribed drugs
ARNA -5.33%
shares rocketed 92% greater premarket on stories that it was to be acquired by
Pfizer
PFE 1.34%
for $100 a share. Pfizer’s personal shares added 1.2% premarket after an Israeli research stated its booster pictures had been efficient in opposition to the Omicron variant. UBS lifted its ranking of Pfizer’s inventory to a purchase and raised its worth goal.
Signage exterior Pfizer headquarters in New York, Nov. 7, 2021.
Photograph:
Stephanie Keith/Bloomberg Information
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Novavax
NVAX -6.10%
was up forward of the bell, by 3.5%. The corporate utilized for emergency use for its Covid-19 vaccine within the United Arab Emirates. Fellow vaccine maker
Moderna
MRNA -5.57%
additionally added 1.8%.
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Harley-Davidson
HOG -0.57%
shares climbed 12% premarket after it stated its electric-vehicle division plans to go public in a merger with a special-purpose acquisition firm. Harley-Davidson stated its LiveWire electric-motorcycle arm would merge with
AEA-Bridges Influence,
IMPX 0.20%
a SPAC, to make LiveWire publicly traded. The deal offers LiveWire an enterprise worth of about $1.77 billion. The SPAC’s shares gained 3.5%.
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Peloton Interactive
PTON -5.38%
shares had been up 2.7% premarket, clawing again a few of Friday’s losses that got here after the corporate’s bike turned related to the demise of a personality in “And Simply Like That,” a reboot of “Intercourse and the Metropolis.” However the inventory dive additionally may have been coincidence, as
Credit score Suisse
earlier that day minimize its worth goal for Peloton to $50 from $112 on issues of slowing progress.
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Basic Motors
GM 6.02%
nudged up 0.1% premarket. The auto maker plans to make investments greater than $3 billion to make electrical automobiles in Michigan, excellent news for the automobile maker’s dwelling state after Southern states snared current auto tasks.
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Bluebird Bio
BLUE -4.48%
climbed 11% forward of the bell. The biotech stated its research knowledge confirmed a sustained medical response to a remedy for sickle-cell anemia.
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Bellus Well being
BLU -1.23%
shares jumped 28% premarket after it stated it had acquired constructive leads to a trial for a remedy of power cough.
- Shares of
Foghorn Therapeutics
FHTX 4.26%
climbed 40% premarket after
Eli Lilly
LLY 0.51%
stated it will collaborate with the corporate novel oncology targets utilizing Foghorn’s proprietary gene site visitors management platform.
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Backblaze,
BLZE -8.72%
Claros Mortgage Belief
CMTG 2.50%
and
PHX Minerals
PHX 11.34%
are as a consequence of report earnings after the shut.
Chart of the Day
- Lithium costs are rising at their quickest tempo in years, setting off a race to safe provides and fueling worries about long-term shortages of a significant ingredient within the rechargeable batteries that energy every part from electrical automobiles to smartphones.
Write to James Willhite at james.willhite@wsj.com
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