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ImmunityBio Volume Surges on Russell Index Changes; Monday Trading Key
ImmunityBio surged 11.8% on Friday with volume tripling its average, driven by Russell index reconstitution. Monday's trading will reveal if the spike holds.
Lucid Stock Surges 15.6%, Adding $312M in Market Cap After $158M Cost-Cutting Plan
Lucid shares surged 15.6% on Friday, adding $312 million in market value, nearly double the $158 million in annualized savings from this week's restructuring plan.
Court Ruling Preserves Federal Grad PLUS Loans for Health Students, Impacting Private Lenders
A judge blocks the Education Department's narrow professional degree rule, allowing more health-care grad students to keep higher federal loan caps and reducing private lender growth opportunities.
Moderna Shares Surge on CAR-T Pipeline Plans, Outperform Sector
Moderna shares surged 12.6% after announcing new in vivo CAR-T pipeline plans, closing at $67.27, 52% above the mean analyst target but 14.5% below Piper Sandler's new $77 target.
Eli Lilly surges $76B on Jaypirca EU backing, Medicare obesity coverage
Eli Lilly stock soared 7.13% to $1,208.12, gaining $75.7B in market value on EU support for Jaypirca and anticipation of Medicare obesity drug access.
Exemplar Luxury Group Exits Bankruptcy with 49 Stores, $9B Target
Exemplar Luxury Group, the renamed Saks Global, exits bankruptcy with 49 stores, a $9 billion sales target, and $500 million in exit financing.
European Heatwave Tests Grid Stability as AC Adoption Lags
A record heatwave in Europe is boosting air-conditioner sales for Samsung, LG, Midea, and Mitsubishi Electric, but grid stress and high power prices raise concerns about energy system resilience.
Apple Raises Mac, iPad Prices Amid Memory Cost Surge, iPhone Untouched
Apple raised Mac and iPad prices worldwide as memory costs soared, leaving iPhone prices unchanged. Shares dropped 6.15% then rebounded 2.5%, with investors eyeing margin impacts and future iPhone pricing.
Hedge Funds Reduce WTI Longs as Oil Slides Despite Tight US Stocks
Brent and WTI plunged over 10% and 9% respectively this week as funds trimmed oil length, despite tight U.S. stockpiles and strong diesel margins.
Tech Funds See $41B Swing as AI Profitability Doubts Surface
Technology funds saw nearly $20 billion in outflows in the week ending June 24, reversing $21.46 billion in inflows the prior week, as chip stocks plunged and AI profitability concerns grew.
Bending Spoons IPO to Test Appetite for Debt-Heavy Software M&A
Bending Spoons (BSP) accounts for 61% of next week's $2.56B U.S. IPO proceeds, with a $1.57B raise that will test investor appetite for debt-heavy software M&A.