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Sectors

Sector Update: Healthcare Stocks Softer Late Afternoon

Healthcare stocks declined late Monday afternoon, with the NYSE Healthcare Index falling 0.7% and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.1%.The iShares Biotechnology ETF (IBB) shed 0.2%.In corporate news, Integer (ITGR) agreed to be acquired and taken private by investment firm KKR (KKR) in an all-cash deal with an enterprise value of about $5.7 billion. Integer shares rose 2.6%.AstraZeneca (AZN) is in talks with Bristol Myers Squibb (BMY) about a potential combination that would create a company valued at almost $400 billion, the Financial Times reported Sunday. AstraZeneca shares slumped 6.8%, and Bristol Myers rose 0.4%.Lantheus Holdings (LNTH) agreed to be acquired and taken private by Curium for up to $8 billion. Lantheus shares rose 1.7%.Krystal Biotech (KRYS) shares dropped 8.4% after its Q2 product revenue fell short of analysts' estimates.

$AZN$BMY$ITGR$KRYS$LNTH
Research

Truist Securities Downgrades Lantheus to Hold From Buy, Cuts Price Target to $102.50 From $125

Lantheus (LNTH) has an average rating of overweight and mean price target of $113.36, 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://finwires.com/en/contact)Price: $101.24, Change: $+1.60, Percent Change: +1.61%

$LNTH
Sectors

Sector Update: Healthcare Stocks Decline Monday Afternoon

Healthcare stocks declined Monday afternoon, with the NYSE Healthcare Index falling 1% and the State Street Health Care Select Sector SPDR ETF (XLV) dropping 0.5%.The iShares Biotechnology ETF (IBB) shed 0.7%.In corporate news, Integer (ITGR) agreed to be acquired and taken private by investment firm KKR (KKR) in an all-cash deal with an enterprise value of about $5.7 billion. Integer shares rose 2.7%.AstraZeneca (AZN) is in talks with Bristol Myers Squibb (BMY) about a potential combination that would create a company valued at almost $400 billion, the Financial Times reported Sunday. AstraZeneca shares slumped 7.5%, and Bristol Myers dropped 0.8%.Lantheus Holdings (LNTH) agreed to be acquired and taken private by Curium for up to $8 billion. Lantheus shares rose 2.2%.

$AZN$BMY$ITGR$LNTH
Update: Equities Rise Intraday, Oil Slides Amid Middle East Deal Optimism
US Markets

Update: Equities Rise Intraday, Oil Slides Amid Middle East Deal Optimism

(Updates with latest market prices and developments.)US stocks climbed intraday as oil prices fell after President Donald Trump renewed hopes for a diplomatic breakthrough in the Middle East conflict.The Nasdaq Composite was up 2% at 25,877.1 after midday Monday, while the S&P 500 rose 1.3% to 7,586.4. The Dow Jones Industrial Average climbed 0.9% to 52,962.1. Among sectors, communication services paced the gainers, while energy led the laggards.West Texas Intermediate crude oil tumbled 5.8% to $79.77 a barrel, while Brent dropped 4.8% to $83.70.Over the weekend, Trump said negotiations with Iran would begin Monday, without revealing venue details, news outlets reported. In a social media post, Trump said that he called off a planned attack against Iran because the "perimeters of a deal has been agreed to.""Hopes of a peace deal in the Middle East weighed on crude prices," D.A. Davidson said Monday in a note.However, Iranian Foreign Ministry spokesperson Esmail Baghaei on Monday ruled out an immediate plan to negotiate with Washington, according to news reports. Tehran was in talks with Oman regarding the Strait of Hormuz, the world's most important chokepoint for crude flows, Baghaei reportedly said.Treasury yields were lower intraday, with the 10-year rate down 5.5 basis points at 4.69% and the two-year rate falling 3.1 basis points to 4.26%.In company news, Atkore (ATKR) jumped 28% intraday after the electrical products manufacturer announced a $3.8 billion deal to be acquired by Italian cable maker Prysmian.Lantheus (LNTH) will become a private company following the completion of an up to $8 billion deal with Curium. Lantheus shares were up 2.7% intraday.Integer (ITGR) agreed to be acquired and taken private by investment firm KKR (KKR) in an all-cash deal with an enterprise value of about $5.7 billion. Integer rose 2.7%, while KKR advanced 2.1%.Marriott International (MAR) shares were the worst performer on the S&P 500, down 7.1%. The hotel giant reported second-quarter revenue below Wall Street's estimates amid headwinds related to the Middle East conflict, while it provided a downbeat earnings outlook for the ongoing three-month period.Major companies including SpaceX (SPCX), Eli Lilly (LLY), Advanced Micro Devices (AMD), Caterpillar (CAT), Merck (MRK), McDonald's (MCD), Walt Disney (DIS), Shopify (SHOP) and Uber Technologies (UBER) are slated to release their quarterly results this week.Palantir Technologies (PLTR) is scheduled to release its latest quarterly results after markets close Monday.Spot gold fell 0.2% to $4,038.48 per troy ounce, while silver was up 0.1% at $57.83 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$CAT$DIS$ITGR$KKR$LLY$LNTH$MAR$MCD$MRK$PLTR$SHOP$SPCX$UBER
Wire

Top Midday Stories: Amazon Market Cap Hits $3 Trillion; AstraZeneca, Bristol Myers Squibb Reportedly Discuss $400 Billion Combination

All three major US stock indexes were up in late-morning trading Monday after President Donald Trump said Sunday he cancelled a planned attack on Iran.In company news, Amazon.com (AMZN) shares rose Monday morning, bringing the tech giant's market capitalization above $3 trillion for the first time. Amazon shares were up 5.2% around midday.AstraZeneca (AZN) is in talks with Bristol Myers Squibb (BMY) about a potential combination that would create a company valued at nearly $400 billion, the Financial Times reported Sunday, citing people familiar with the matter. The companies have held discussions in recent months, though a deal could still be delayed or fail to materialize, the report said, citing the people. AstraZeneca shares were down 9.4%, while Bristol Myers Squibb shares were down 0.7%.Lantheus (LNTH) said Monday it signed a definitive agreement to merge with a unit of Curium US Holdings in a deal valued at up to $8 billion. The buyer will pay $102.50 per Lantheus share in cash at closing and up to $12 per share in future milestone-based cash payments through 2030, the company said. The deal is expected to close in H1 2027, subject to regulatory and shareholder approvals. Lantheus shares were up 2.8%.Visa (V) said Monday it has agreed to acquire fraud intelligence company BioCatch for $2.4 billion in cash. The deal will likely close by the end of Visa's fiscal Q2 2027, the company said. Visa shares were up 0.1%.ArcelorMittal (MT) said Monday it has expanded its partnership with Microsoft (MSFT) to implement artificial intelligence tools in its international business processes. The mining company will adopt Microsoft Azure as its primary cloud infrastructure to update core information technology frameworks and centralize data, it said. ArcelorMittal shares were up 1.4%, while Microsoft shares were up 4.9%.JPMorgan Chase (JPM) said Monday it plans to spend $750 billion through 2035 to increase the housing supply and support home ownership in the US. JPMorgan shares were up 0.2%.GameStop (GME) has agreed to exchange about $1.4 billion of its outstanding 0% convertible senior notes due 2030 and 2032 for its class A common stock without the use of cash. Noteholders are exchanging around $400 million of the 2030 notes and $1 billion of the 2032 notes, the company said. The exchange is expected to close around Sept. 23. GameStop shares were down 12.6%.Price: $285.78, Change: $+14.20, Percent Change: +5.23%

$AMZN$AZN$BMY$GME$JPM$LNTH$MSFT$MT$V
Lantheus Strikes Up to $8 Billion Go-Private Deal With Curium
US Markets

Lantheus Strikes Up to $8 Billion Go-Private Deal With Curium

Lantheus (LNTH) has agreed to be acquired and taken private by Curium in an up to $8 billion deal that will combine the strengths of the two radiopharmaceutical rivals.Curium US will pay $102.50 per Lantheus share in cash at closing, plus up to $12 per share in future milestone-based payments through 2030, the companies said Monday.The transaction value represents a 21% premium to Lantheus' closing price on May 21, the last trading day before media speculation began about a potential sale, the statement said.The deal combines Curium's theranostics portfolio and global manufacturing platform with Lantheus' US radiodiagnostics business."Combining strategically with Curium brings together two pioneers with complementary strengths and a shared passion for nuclear medicine," Lantheus Chief Executive Mary Anne Heino said.The deal, which requires Lantheus shareholders' consent and regulatory approvals, is projected to close in the first half of 2027. Upon closing, Lantheus will cease to be a publicly traded company."Lantheus' complementary business accelerates our strategy with a robust US commercial infrastructure, a complementary F18-isotope based prostate diagnostics franchise and marks our entry in the US market for diagnostic solutions targeting neurology and echocardiography," Curium CEO Renaud Dehareng said.Curium is controlled by investment firm CapVest Partners. A recapitalization last year valued Curium Group at roughly $7 billion, the company said.In May, Lantheus reported first-quarter adjusted earnings of $1.46 per share, compared with $1.53 a year earlier. Revenue rose 1.2% to $377.3 million.Lantheus canceled its upcoming second-quarter earnings conference call and suspended its 2026 financial guidance due to the pending transaction. Shares of Lantheus were up 2.5% in Monday trade.Wedbush Securities sees no antitrust overlap between Curium and the largely-domestic commercial footprint of Lantheus.Price: $102.22, Change: $+2.58, Percent Change: +2.58%

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Wire

B. Riley Adjusts Price Target on Lantheus to $97 From $84, Maintains Buy Rating

Lantheus (LNTH) has an average rating of buy and mean price target of $97.17, 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://finwires.com/en/contact)Price: $84.81, Change: $+0.19, Percent Change: +0.22%

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