Merck to Buy Terns Pharmaceuticals; Arm to Sell Its Own Chips; Braze Shares Climb
Today's biggest winners and losers in the stock market.On this episode of Stock Movers:- Merck & Co (MRK) to buy Terns Pharmaceuticals (TERN) for $53/share in cash for an approximate equity value of $6.7 billion.- Shares of Arm Holdings (ARM), which made its name licensing technology to semiconductor makers, rose in premarket trading after it said it will sell its own chips for the first time, in a move forecast to generate about $15 billion annually within five years. - Braze shares rise after the software company forecast revenue for the first quarter that was higher than the average…
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