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Wolfe Research has begun coverage of major oilfield services companies, assigning Outperform ratings to SLB and Baker Hughes while rating Halliburton at Peer Perform. The firm anticipates a selective capital cycle that will favor companies with significant international exposure.
Air Canada's stock dropped nearly 4% following the announcement of an upcoming leadership transition, compounded by operational cutbacks and a wider market downturn fueled by geopolitical concerns.
Apple has entered a multi-year agreement with Broadcom, valued at over $30 billion, to source radio-frequency chips made in the United States. The deal includes a major expansion of Broadcom's manufacturing facility in Colorado.
Morgan Stanley has upgraded Ivanhoe Mines to "Overweight" while downgrading Alcoa and Vale to "Equal-weight," citing a changing supply forecast that favors copper and precious metals over aluminum and iron ore.
Shares of Prime Medicine rose sharply after the company announced a favorable binding arbitration ruling in a dispute with Beam Therapeutics over a key gene editing therapy. The decision resolves a significant legal uncertainty and clears the path for the drug's clinical development.
Prime Medicine's stock increased significantly after a binding arbitration ruled in its favor against Beam Therapeutics, confirming its development rights for an investigational treatment for Alpha-1 Antitrypsin Deficiency. Beam Therapeutics' shares fell following the announcement.
The Athens General Composite index closed down 2.14% on Wednesday, dragged lower by losses in the banking, telecommunications, and household sectors. On the Athens Stock Exchange, declining stocks significantly outnumbered advancing ones.
A recent report indicates that Rivian Automotive's $1.2 billion stock sale was heavily concentrated, with the top ten investors purchasing three-quarters of the available shares. The offering was reportedly oversubscribed, with the top 25 investors securing 95% of the total.
Shares of Beam Therapeutics fell on Monday following an adverse arbitration ruling in a licensing dispute with competitor Prime Medicine. A broader market sell-off also contributed to the pressure on the stock.
