Market-Moving News for August 12th
Portfolio Pulse from Benzinga Newsdesk
Market-Moving News for August 12th includes Scotiabank's acquisition of a 14.9% stake in KeyCorp, Ascendia Pharma's FDA approval for YORVIPATH, and Deutsche Bank's upgrade of Eli Lilly's stock.
August 12, 2024 | 12:21 pm
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POSITIVE IMPACT
Ascendia Pharma shares are trading higher after the company announced FDA approval for YORVIPATH for the treatment of hypoparathyroidism in adults.
FDA approval for YORVIPATH is a significant milestone for Ascendia Pharma, likely leading to increased investor interest and a positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Scotiabank has acquired a 14.9% stake in KeyCorp with a $2.8 billion strategic investment.
The acquisition of a significant stake by Scotiabank is likely to boost investor confidence in KeyCorp, potentially driving the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Eli Lilly shares are trading higher after Deutsche Bank upgraded the stock from Hold to Buy and raised its price target from $725 to $1,025.
The upgrade and increased price target from Deutsche Bank are likely to positively influence investor sentiment and drive Eli Lilly's stock price higher in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100