$VREX

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Sector Update: Healthcare Stocks Gain Late Afternoon

Healthcare stocks were higher late Monday afternoon, with the NYSE Healthcare Index rising 1% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.4%.The iShares Biotechnology ETF (IBB) climbed 1%.In corporate news, Eli Lilly (LLY) received UK authorization for orforglipron, marketed as Foundayo, a once-daily tablet for weight management and type 2 diabetes, the Medicines and Healthcare products Regulatory Agency said Monday. Lilly shares gained 3.7%.Teledyne Technologies (TDY) has agreed to acquire X-ray imaging components manufacturer Varex Imaging (VREX) in a $1.1 billion deal that will expand its X-ray device portfolio to include oncology detectors. Teledyne shares were up 0.3%, and Varex surged 48%.Thermo Fisher Scientific (TMO) expects to increase its customer base in India by 15% to 20% over the next five years, driven by growth in biopharma research and manufacturing, Reuters reported, citing Srinath Venkatesh, the company's managing director for India and South Asia. Thermo Fisher shares were up 0.7%.Silence Therapeutics (SLN) shares jumped 27% after it said Monday its phase 2 trial of divesiran to treat Polychthemia Vera, a form of blood cancer, met its primary endpoint.

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Wire2h ago

Top Midday Gainers

Silence Therapeutics (SLN) reported "positive" topline results from its phase 2 trial of divesiran in 48 phlebotomy-dependent patients with polycythemia vera, according to a statement Monday.Shares soared 29% amid a surge in intraday trading volume to over 13.6 million from a daily average of about 441,000.Blackstone's (BX) portfolio firm Safe Harbor has agreed to acquire MarineMax (HZO) for $53 per share in cash, valuing the recreational boat retailer at about $1.5 billion, including debt, the companies said Monday.Shares of MarineMax surged 45% as intraday trading volume jumped to over 6.28 million from a daily average of roughly 310,000.Teledyne Technologies (TDY) has agreed to acquire X-ray imaging components manufacturer Varex Imaging (VREX) in a $1.1 billion deal that will expand its X-ray device portfolio to include oncology detectors.Shares of Varex surged 48% as intraday trading volume jumped to over 10.9 million from a daily average of roughly 431,000.Price: $696.96, Change: $+5.66, Percent Change: +0.82%

$BX$HZO$SLN$TDY$VREX

US Markets3h ago

Update: Equities Fall, Oil Rises Intraday Amid Hormuz Reopening Uncertainty

(Updates with latest market prices and developments.)US stocks fell and oil prices advanced intraday as the Strait of Hormuz's reopening appeared uncertain.The Nasdaq Composite was down 0.3% at 26,616.2 after midday Monday, while the Dow Jones Industrial Average fell 0.2% to 53,914.8. The S&P 500, which notched a new closing high on Friday, edged down 0.1% to 7,754.1.Among sectors, real estate led the laggards intraday Monday, while energy topped the gainers.West Texas Intermediate crude oil jumped 4.3% to $81.52 a barrel, while Brent climbed 4.3% to $87.14.Iran has reportedly laid out new terms for reopening the Strait of Hormuz, including a permanent end to the war against Tehran and its allies.US President Donald Trump has signaled that he's prepared to exert greater economic pressure on Iran instead of launching another military attack, Axios reported Sunday."We are low-keying it," Trump reportedly said in a phone call, according to Axios. "We are only semi-negotiating with them. We are just watching Iran with its huge inflation and the fact they have no money.""Oil prices remain supported by uncertainty surrounding the Strait of Hormuz," ING Bank said in a report Monday. "Significant hurdles remain before any broader agreement is reached."US Treasury yields were higher intraday, with the two-year rate up 3.7 basis points at 4.24% and the 10-year rate rising 4.5 basis points to 4.7%.In company news, Intel (INTC) plans to raise $15 billion from a common stock offering to support capital expenditures as demand for artificial intelligence computing remains strong. The stock was down 1.9%.Teledyne Technologies (TDY) has agreed to acquire X-ray imaging components manufacturer Varex Imaging (VREX) in a $1.1 billion deal that will expand its X-ray device portfolio to include oncology detectors. Varex shares surged 48%, while Teledyne edged up 0.4%.Some 11 S&P 500 companies are scheduled to report results this week, including Cisco (CSCO) and Applied Materials (AMAT).So far, 443 companies, or 89% of the index constituents, have reported results in the current cycle, with profit growth slowing to 51% from about 57% a week ago, Oppenheimer Asset Management said in a report Monday.Spot gold edged up 0.4% to $4,358.07 per troy ounce, while silver advanced 2.6% to $65.14 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMAT$CSCO$INTC$TDY$VREX

Sectors3h ago

Sector Update: Healthcare Stocks Rise in Afternoon Trading

Healthcare stocks were higher Monday afternoon, with the NYSE Healthcare Index up 0.9% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.3%.The iShares Biotechnology ETF (IBB) climbed 1%.In corporate news, Eli Lilly (LLY) received UK authorization for orforglipron, marketed as Foundayo, a once-daily tablet for weight management and type 2 diabetes, the Medicines and Healthcare products Regulatory Agency said Monday. Lilly shares gained 2.6%.Teledyne Technologies (TDY) has agreed to acquire X-ray imaging components manufacturer Varex Imaging (VREX) in a $1.1 billion deal that will expand its X-ray device portfolio to include oncology detectors. Teledyne shares were up 0.6%, and Varex surged 48%.Thermo Fisher Scientific (TMO) expects to increase its customer base in India by 15% to 20% over the next five years, driven by growth in biopharma research and manufacturing, Reuters reported, citing Srinath Venkatesh, the company's managing director for India and South Asia. Thermo Fisher shares were up 0.2%.Sionna Therapeutics (SION) shares fell nearly 92% after it said Monday it won't advance SION-719 as an add-on therapy to standard of care Trikafta in cystic fibrosis patients after a phase 2a proof-of-concept failed to meet its key activity endpoint of sweat chloride reduction.

$LLY$SION$TDY$TMO$VREX

Sectors3h ago

Sector Update: Healthcare

Healthcare stocks were higher Monday afternoon, with the NYSE Healthcare Index up 0.9% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.3%.The iShares Biotechnology ETF (IBB) climbed 1%.In corporate news, Teledyne Technologies (TDY) has agreed to acquire X-ray imaging components manufacturer Varex Imaging (VREX) in a $1.1 billion deal that will expand its X-ray device portfolio to include oncology detectors. Teledyne shares were up 0.4%, and Varex surged 48%.

$TDY$VREX

Wire5h ago

Teledyne Technologies to Buy Varex Imaging in $1.1 Billion Deal

Teledyne Technologies (TDY) has agreed to acquire X-ray imaging components manufacturer Varex Imaging (VREX) in a $1.1 billion deal that will expand its X-ray device portfolio to include oncology detectors.Teledyne will pay $18.90 in cash for each Varex share, the companies said in a joint statement on Monday. The $1.1 billion valuation includes Varex's equity awards and net debt.Shares of Varex surged 48% in Monday trading, while Teledyne edged up 0.3%.Varex develops X-ray sources and digital X-ray detectors and provides interconnects and imaging software to global original equipment manufacturers. Teledyne provides imaging products, along with electronics and engineered systems.Both companies' products are "uniquely complementary with minimal overlap," even though they serve similar customers, Teledyne Executive Chairman Robert Mehrabian said in the statement."While Teledyne produces X-ray detectors, we do not provide detectors suited for high-radiation environments such as oncology, as does Varex," Mehrabian said. "In addition, only Varex provides new advanced photon counting detectors for healthcare and industrial inspection."Varex also produces X-ray tubes for radiography, fluoroscopy or computed tomography applications, Mehrabian said.The transaction, which requires approval from regulators and Varex's shareholders, is expected to complete early next year, the companies said."Our X-ray technologies fit naturally alongside Teledyne's product portfolio, and its resources will help us accelerate adoption of our advanced imaging solutions, and development of the next generation of products," according to Varex Chief Executive Sunny Sanyal.The deal reinforces that technically differentiated X-ray businesses command "strategic premiums from larger diversified industrial/aerospace acquirers," Wedbush Securities said in a note.In a separate statement, Varex reported fiscal third-quarter adjusted earnings of $0.31 per share, up from $0.13 the year before. Four analysts surveyed by FactSet expected $0.21. Revenue grew to $210.5 million from $203 million, compared with the consensus of $215.5 million based on projections from five analysts.Last month, Teledyne said its adjusted EPS rose to $6.28 in its fiscal second quarter from $5.20 in the prior-year period. Sales added 9.8% to $1.66 billion. At the time, the company said it expected adjusted EPS of $24.45 to $24.65, while the Street is currently looking for $24.67.Price: $694.63, Change: $+3.33, Percent Change: +0.48%

$TDY$VREX

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