FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: Barrick Mining Mulls London Listing for African Business

By

Barrick Mining (B) is weighing a possible London listing for its African business, with the company also considering an all-share transaction with Endeavour Mining as an option, Reuters said Monday, citing two sources familiar with the matter.

Discussions are at an early stage and that there is no certainty that a deal will materialize, according to the report.

Under one scenario being explored, Barrick Mining would retain its Toronto listing as a holding company that would own shares in the North American-listed Barrick in New York and a separate Africa-focused entity listed in London, the report added.

Barrick and Endeavour Mining did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $41.56, Change: $-0.99, Percent Change: -2.33%

Related Articles

Wire

Top Midday Stories: Oil Rises After Iran Reportedly Says It's Halting Messages With US; Nvidia Launches New AI Chip for Laptops

The Dow Jones Industrial Average was down, while the S&P 500 Index and Nasdaq Composite were roughly flat in late-morning trading Monday, as oil prices rose after Iranian state media disclosed that Iran would halt messages with the US over Israel's military operations in Lebanon.In company news, Nvidia (NVDA) said Monday it has launched RTX Spark, a new AI chip that will feature in Microsoft (MSFT) Windows laptops and desktop personal computers. The chip features an Nvidia Blackwell RTX graphics processing unit, 1 petaflop of AI compute and 128gb of unified memory, Nvidia said. RTX Spark will power its Windows laptops, including Microsoft Surface, and those of its PC partners ASUS, Dell (DELL), HP (HPQ), Lenovo and MSI, Microsoft said in a blogpost. Nvidia shares were up 3.9%, while those of Microsoft, Dell and HP were up 2.0%, 8.5% and 7.2%, respectively.People Inc. said Monday it has submitted a non-binding proposal to acquire all outstanding MGM Resorts International (MGM) shares it doesn't already own for $48.30 per share in cash. The proposal represents a 24.1% premium to the volume-weighted average price of MGM common stock for the 30 trading days ending on May 29, People said. MGM shares were up 16.5%.Taylor Morrison Home (TMHC) has agreed to be acquired by Berkshire Hathaway (BRK.A, BRK.B) for $6.8 billion in cash and a total enterprise value of about $8.5 billion, the companies said Sunday. Berkshire will pay $72.50 per share, a 24% premium to Taylor Morrison's latest closing price of $58.50 on May 29, the companies said. The deal is expected to close in H2, at which point Taylor Morrison will continue to be managed by its existing management team, the companies said. Taylor Morrison shares were up 22.6%, while Berkshire's Class A and Class B shares were down 0.7% and 0.8%, respectively.Constellation Energy (CEG) has priced an underwritten secondary offering of 11 million shares at $281 apiece, the company said Monday. Underwriters have a 30-day option to buy an extra 1.35 million shares, and Constellation said it will repurchase 2 million shares from the underwriters at the offering price under its existing buyback program. Constellation shares were down 5.8%.Salesforce (CRM) said Monday it will invest $2 billion in France through 2030, including the launch of an AI Innovation Hub in Paris for developing, testing and deploying AI applications. Salesforce shares were up 10.2%.Price: $219.23, Change: $+8.09, Percent Change: +3.83%

$BRK.A$BRK.B$CEG$CRM$DELL$HPQ$MGM$MSFT$NVDA$TMHC
Wire

Wedbush Raises Price Target on Jade Biosciences to $45 From $34, Maintains Outperform Rating

Jade Biosciences (JBIO) has an average rating of buy and mean price target of $38, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $18.59, Change: $-2.45, Percent Change: -11.64%

$JBIO
Wire

Revolution Medicines' Trial Data Shows Daraxonrasib is 'Winner' in Pancreatic Cancer Treatment, RBC Says

Revolution Medicines' (RVMD) full results from its RASolute-302 trial presented at a medical conference indicate that daraxonrasib is emerging as the "clear winner" for the second line treatment of pancreatic cancer, RBC Capital Markets said in a note Monday.The trial is an "inflection point" in second line pancreatic cancer treatment and for Revolution it "represents a large commercial opportunity," the note said.There is now a "clear near-term regulatory path" as well as optionality to bring the drug into other indications, for a potential opportunity of more than $10 billion, RBC said.The investment firm added that while the competitive landscape is intensifying, Revolution's new data sets a "high bar" and Revolution will likely stay the leader in the space.RBC has an outperform rating on Revolution and a $165 price target.Price: $159.93, Change: $+2.45, Percent Change: +1.56%

$RVMD