Seagen (SGEN) shares surge double digits on reports Pfizer is in talks to buy the biotech company, durable goods sales decline more than expected, and Amazon expands same-day delivery. Here’s what investors need to know today.
1. Seagen Shares Jump on $30 Billion Deal Talks
Seagen (SGEN) shares jumped over 15% in pre-market trading following reports that Pfizer is in talks to acquire the biotech company in a deal valued at about $30 billion. The deal would help Pfizer add a promising class of targeted cancer therapies.
2. Durable Goods Sales Drop More Than Expected
The Census Bureau reported new orders for manufactured durable goods declined more than expected by 4.5% to $272.3 billion, compared to projections of a 3% drop.
3. Twitter Lays Off 10% of Workers
Twitter cut another 10% of its workforce. The social media company has been slashing costs following Elon Musk’s acquisition of Twitter late last year.
4. Amazon Expands Same-Day Delivery
Amazon is expanding its same-day delivery business with fees. Amazon has been seeking to deliver packages in less than a day as shoppers have more fast delivery options than ever.
5. Ford Extends Production Delays
Ford halted production of its F-150 lightening EV for another week after a battery fire earlier this month. The move came after the NHTSA said it is holding talks with Ford over the issue.