Gilead Slips on Arcellx Acquisition; Merck Rallies; Domino's Rises
Today's biggest winners and losers in the stock market. On this episode of Stock Movers:- Shares of Gilead Sciences (GILD) slipped in premarket trading after the company agreed to buy biotech firm Arcellx Inc. (ACLX) in a deal with an equity value of up to $7.8 billion as the US drugmaker seeks to boost its cancer drug pipeline. Gilead, which owns 11.5% of Arcellx’s outstanding stock, will pay $115 per share in cash, with a contingent payment of $5 per share dependent on future sales, according to a statement Monday. The price is almost double Arcellx’s closing price on Friday. -…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.