2 Min Read
(Reuters) - Drugmaker Amgen Inc is buying Five Prime Therapeutics for about $1.9 billion to expand its line of gastric cancer drug candidates and its presence in Asia-Pacific, the companies said on Thursday.
FILE PHOTO: An Amgen sign is seen at the company s office in South San Francisco, California October 21, 2013. REUTERS/Robert Galbraith
Amgen has been looking to grow in the oncology market in the region since gaining a toehold in China in 2019 through a 20.5% stake in cancer drugmaker BeiGene Ltd for nearly $3 billion. It expects the region to contribute about a quarter of its growth over the next 9-10 years.
Indian shares ended sharply higher on Wednesday as heavyweight Reliance Industries jumped on winning $8 billion worth of airwaves in a spectrum auction, while retreating U.S. bond yields also aided investor sentiment.
4 Min Read
TOKYO (Reuters) - Shares in the Bank of Japan (BOJ) hit their upper trading limit for a third session on Wednesday, in the latest example of how excess liquidity can draw retail investors toward seemingly irrational trades.
FILE PHOTO: A security guard walks past in front of the Bank of Japan headquarters in Tokyo, Japan January 23, 2019. REUTERS/Issei Kato/File Photo
Shares in the BOJ, one of a handful of central banks with listed stock, surged more than 17% to 47,000 yen ($439.80) to reach their highest levels since May 2018.
So far this week, the central bank’s shares have surged by 68%, which is on par with volatile cryptocurrencies and select meme stocks chased up by U.S. retail investors.
3 Min Read
(Reuters) - A wild rally in shares of Rocket Companies that saw the stock rise 70% in an apparent short squeeze has attracted fresh bets that the stock price will decline.
Slideshow ( 2 images )
Shares of Rocket, the parent of mortgage lender Quicken Loans, were down 31.7% to $28.43 in afternoon trading on Wednesday. The heavily-shorted stock had surged more than 70% on Tuesday in a move that analysts said was likely sparked by bearish investors unwinding bets against the stock as its share price surged.
However, the stock’s gains appear to have drawn more investors betting against Rocket’s shares.
The value of Rocket shares shorted stood at $2.04 billion as of Tuesday’s close, accounting for 45.15% of the float, according to Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners.
3 Min Read
BRUSSELS (Reuters) - Aon will face a list of objections by the EU’s antitrust watchdog which it must overcome with concessions to proceed with its $30 billion bid for Willis Towers Watson, two people familiar with the matter said.
FILE PHOTO: An office building with Aon logo is seen amidst the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. REUTERS/Loren Elliott
The negotiations may derail Aon’s goal of closing the deal in the first half of the year unless it offers concessions in the coming weeks to stave off the charge sheet, the people said.