Pharmaceutical company Amgen Inc. agreed to buy rare disease drug manufacturer Horizon Therapeutics yesterday for close to $28B in cash at $116.50 a share, the largest US healthcare acquisition this year. The deal is expected to be complete by mid-2023.
Amgen beat out both Johnson & Johnson and Sanofi in a monthlong bidding competition for the fast-growing drug producer. It is Amgen's second acquisition since October when it purchased ChemoCentryx for $3.7B
CPI shows U.S. core consumer inflation in November was coolest since August 2021
The numbers: The cost of living rose a scant 0.1% in November, the latest in a string...
The numbers: The cost of living rose a scant 0.1% in November, the latest in a string of mild readings that suggest the worst U.S. inflation in 40 years is receding.
Economists polled by The Wall Street Journal had forecast a 0.3% increase in the consumer price index. Falling gas prices have helped tug inflation lower since last summer.
The annual rate of inflation, meanwhile, fell to 7.1 % from 7.7% in the prior month, marking the lowest level since the end of 2021. Inflation peaked at 9.1% in June.
The energy sector is off to a higher start, supported by strength in the...
The energy sector is off to a higher start, supported by strength in the major market futures and the underlying commodities. U.S. stocks are expected to open sharply higher following the release of the CPI data which reflected a smaller-than-expected rise in U.S. consumer prices. This has increased expectations the Federal Reserve will be moderate in its future interest rate hikes.
WTI and Brentare trading higher as supply disruptions outweighed declining optimism over a Chinese oil demand recovery. The oil market continues to see some support following the closure of the Keystone pipeline which closed down after a leak last week. However, oil futures pared earlier gains after the Chinese leader delayed a key economic policy meeting, amid surging COVID-19 infections. Additionally, export volumes from Russia's Baltic and Black Sea ports are set to decline this month.
Natural gas futuresare up this morning on forecasts for colder temperatures and higher heating demand in the next two weeks.
Sam Bankman-Fried Arrested in the Bahamas After U.S. Files Charges
Sam Bankman-Fried, the fallen crypto king who presided over the fiery $32-billion implosion of FTX last month, was arrested by Bahamian authorities, the country’s attorney general said on Monday.
“SBF’s arrest followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition,” the statement said.
A Twitter account for the U.S. Attorney for the Southern District of New York confirmed the news, writing that the arrest was “based on a sealed indictment filed by the SDNY.”
“We expect to move to unseal the indictment in the morning and will have more to say at that time,” the tweet continued.
Oil futures ended higher on Monday, with the continued shutdown of the Keystone pipeline and an improvement...
Oil futures ended higher on Monday, with the continued shutdown of the Keystone pipeline and an improvement in the outlook for Chinese energy demand, on the back of easing COVID-19 restrictions, raising concerns over tight crude supplies.
West Texas Intermediate crude for January delivery CL.1, rose $2.15, or 3%, to settle at $73.17 a barrel on the New York Mercantile Exchange, posting the first gain in seven sessions. The U.S. benchmark tumbled more than 11% last week, ending Friday at the lowest for a front-month contract since Dec. 20, 2021, according to Dow Jones Market Data.
February Brent crude BRN00, the global benchmark, added $1.89, or 2.5%, to $77.99 a barrel on ICE Futures Europe. Brent ended Friday at the lowest since Dec. 22, 2021, also shedding more than 11% last week.
Back on Nymex, January gasoline RBF23, edged up by 1.2% to $2.081 a gallon, while January heating oil HOF23,  rose 6.3% to $2.9685 a gallon.
January natural gas NGF23, jumped 5.5% to $6.587 per million British thermal units.
