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DSNKY

MRK

Merck and Daiichi Sankyo have announced a collaboration to develop and commercialize three DXd ADCs globally, excluding Japan. Merck will pay Daiichi Sankyo upfront payments totaling $4.5 billion and up to an additional $5.5 billion for each DXd ADC contingent upon the achievement of certain sales milestones. The total potential consideration across the three programs is up to $22 billion.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 7:15 am

ARQT

Arcutis Biotherapeutics is selling 32.5 million shares of common stock at $2.50 per share and pre-funded warrants to purchase 7.5 million shares of common stock at $2.4999 per warrant. The offering is expected to raise $100 million.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 6:41 am

CHKP

EIS

ESLT

ICL

ISRA

ITEQ

IZRL

NICE

TEVA

The ongoing conflict between Israel and Hamas has led to a pullback in Israeli ETFs and stocks. Major ETFs like iShares Msci Israel ETF (EIS), Ark Israel Innovative Technology ETF (IZRL), BlueStar Israel Technology ETF (ITEQ), and VanEck Israel ETF (ISRA) have seen significant drops since the conflict began. Large-cap Israeli companies listed in the US, such as Check Point Software Technologies (CHKP), Nice Ltd. (NICE), Teva Pharmaceutical Industries (TEVA), Icl Group (ICL), and Elbit Systems (ESLT) have also been impacted, with varying degrees of stock price changes.

Portfolio Pulse from Natan Ponieman

October 19, 2023 | 9:57 pm

BLK

BTCUSD

GBTC

USDTUSD

A new analysis by Matrixport suggests that Bitcoin's price could jump to $56,000 if BlackRock's ETF receives approval. The forecast follows BlackRock's ETF application announcement, which has generated excitement in the cryptocurrency community. Grayscale Investments' Bitcoin Trust share prices have surged 167% year-to-date, outpacing Bitcoin's growth of 71%. Matrixport also noted that a 1% allocation recommendation for Bitcoin from the U.S. registered investor advisor community could result in approximately $50 billion in inflows.

Portfolio Pulse from Murtuza Merchant

October 19, 2023 | 9:13 pm

GLD

IWM

QQQ

SPY

TLT

Stock volatility reached a six-month peak and bond yields hit an 18-year low due to the escalating Israel-Hamas conflict and mixed messages from Fed Chair Jerome Powell. The iShares 20+ Year Treasury Bond ETF (TLT) closed 2% lower, while the SPDR S&P 500 ETF Trust (SPY), the Invesco QQQ Trust (QQQ), and the iShares Russell 2000 ETF (IWM) also saw notable drops. The SPDR Gold Trust (GLD) increased by 1.2%.

Portfolio Pulse from Piero Cingari

October 19, 2023 | 8:56 pm

MRK

A significant bullish stance has been taken on Merck & Co (NYSE:MRK) as evidenced by unusual options activity. The options scanner at Benzinga spotted 14 uncommon trades, with a split sentiment of 64% bullish and 35% bearish. The whales have been targeting a price range from $95.0 to $120.0 for Merck & Co over the last 3 months. The current price of MRK is down -1.53% at $100.43. Analysts have mixed opinions, with Cantor Fitzgerald and Truist Securities downgrading their actions but maintaining high price targets.

Portfolio Pulse from Benzinga Insights

October 19, 2023 | 8:46 pm

MDRR

Medalist Diversified REIT's board has approved the repurchase of an additional 200,000 shares of the company's common stock at a maximum price of $6.00 per share, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 8:36 pm

NVTA

Invitae (NYSE:NVTA), a medical genetics company, has appointed Dr. David Sholehvar as its new Chief Operating Officer, effective from November 13, 2023. Dr. Sholehvar has a 25-year track record in healthcare business leadership, having held roles at NeoGenomics Inc., Dynex Technologies, Quest Diagnostics, and Johnson & Johnson. As part of his hiring, Invitae is granting 850,000 restricted stock units to Dr. Sholehvar under its 2015 Stock Incentive Plan.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 8:35 pm

BOWL

VICI

VICI Properties Inc. has completed the acquisition of 38 bowling entertainment centers from Bowlero Corp. in a sale-leaseback transaction for $432.9 million. This marks VICI's first sale-leaseback transaction in the family entertainment sector. The deal is expected to be immediately accretive to AFFO per share and diversifies VICI's tenant base and geographic reach. VICI also entered into a triple-net master lease agreement with Bowlero, with an initial total annual rent of $31.6 million.

Portfolio Pulse from Happy Mohamed

October 19, 2023 | 8:27 pm

A significant number of investors have taken a bearish stance on General Electric (NYSE:GE), with 80% of recent unusual options trades being bearish. The trades range from $85.0 to $125.0, with a total amount of $132,365 for puts and $328,350 for calls. Deutsche Bank has downgraded its action to Buy with a price target of $141. The current price of GE is $106.95, down by 0.58%.

Portfolio Pulse from Benzinga Insights

October 19, 2023 | 8:16 pm