GILD Gilead Sciences neared a $2B acquisition of autoimmune biotech Ouro Medicines today per FT reporting. The deal includes $1.5B upfront cash plus $500M in milestone payments. Talks reached advanced stages as the pharma giant expanded its pipeline.
Goldman Sachs warned oil could break the 2008 record of $147 per barrel as Iran war entered week three. Crude held above $100 triggering inflation fears across markets. Traders priced in almost 50% odds of US rate rises by October dealing a blow to rate cut expectations.
European markets rebounded today as Trump signaled Iran war de-escalation. Asian stocks tumbled overnight with no sign of Middle East conflict abating. UK gilt yields surged to highest levels since 2008 as traders bet on four Bank of England rate hikes this year.
UAL United Airlines and DAL Delta grabbed buy ratings from UBS despite fuel cost chaos. LUV Southwest saw targets cut to $56 from $59 as oil above $100 pressured discount carriers. Frontier Airlines SI exploded 6.1 points to 51.3% as bears piled in.
Gold set for third weekly fall despite energy turmoil. The dollar headed for a weekly drop as central banks held rates. Iran launched 10M rial banknotes as war triggered cash demand.
CCL Carnival absorbed a target cut to $30 from Susquehanna. KHC Kraft Heinz fell to $24 target on hold rating. Defensive rotation accelerated as risk appetite evaporated globally.
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