Group 1: Stock Market Movements - Logitech (LOGI), NetApp (NTAP), and CDW (CDW) saw declines of 6%, 4%, and 2% respectively after Morgan Stanley downgraded all three, citing a "perfect storm" for IT hardware due to the slowest corporate spending in 15 years outside of COVID-19 [4] - The downgrade was influenced by a 4Q CIO survey indicating softer demand, with resellers expecting 30%-60% of customers to cut budgets for PCs, servers, and storage amid rising component prices [4][5] - The hardware down-cycle is expected to last three to five quarters, with CDW downgraded to Equal-Weight (PT $141), Logitech to Underweight (PT $89), and NetApp to Underweight (PT $89) [5] Group 2: NYSE Developments - The New York Stock Exchange (NYSE) is developing a platform for 24/7 trading of tokenized U.S.-listed equities and ETFs using blockchain technology [5][6] - This platform aims to enable instant settlement, dollar-sized orders, and stablecoin-based funding, although the launch date has not been disclosed [6] - The initiative is part of Intercontinental Exchange's (ICE) broader digital strategy, which includes enhancing clearing infrastructure for 24/7 trading and supporting tokenized deposits [7][8] Group 3: Tesla and EV Market - Tesla (TSLA) is expected to benefit from Canada's decision to reduce tariffs on Chinese-made electric vehicles (EVs) from 100% to 6.1%, allowing 49,000 EVs to be imported annually [9][10] - The EV quota may increase to 70,000 within five years, with half reserved for vehicles priced under C$35,000 ($25,192), which does not include Tesla's models [11] - Tesla's largest plant in Shanghai is already equipped to produce a Canada-specific version of its Model Y, which was previously shipped to Canada before the tariff imposition [10]

Steve GoldsteinSteven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein. ...

| RAPT RAPT Therapeutics | | | | --- | --- | --- | | 35 100 + +2.910 +9.04% | | | | 57.400 + 22.300 +63.53% | | 盘前价 01/20 04:29 美东 | | 三 7 24 9 月 ♥ 自选 | | ● 快捷交易 | | 最高价 35.470 | 开盘价 32.010 | 成交量 43.01万 | | 鲁氏价 32.000 | 昨收价 32.190 | 成交额 1494.16万 | | 平均价 34.736 | 市盈率ITM 亏损 | 总市值 9.73亿 (1) | | 振 幅 10.78% | 市盈率(静) 亏损 | 总股本 2771.09万 | | 换手率 2.35% | 市净率 6.400 | 流通值 6.44亿 | | 52周最高 42.392 | 委 比 -75.44% | 流通股 1834.42万 | | 52周最低 5.665 | 量 比 2.02 | 色 主 1股 | | 历史最高 409.676 | 股息TTM -- | | | 历史最低 5.664 | 股息率ITM -- | | ...

Core Viewpoint - Shionogi & Co., Ltd. announced a $2.13 billion investment to acquire new shares in ViiV Healthcare, a company focused on HIV drug development, increasing its ownership stake to 21.7% [1][2]. Group 1: Transaction Details - Pfizer will divest its 11.7% stake in ViiV Healthcare for $1.88 billion, while GlaxoSmithKline (GSK) will receive a special dividend of $250 million as part of the agreement [1][2]. - After the transaction, GSK will retain a majority stake of 78.3% in ViiV Healthcare [1][2]. Group 2: Company Background - ViiV Healthcare is a joint venture established in 2009 between GSK and Pfizer, with Shionogi becoming a shareholder in 2012 [1][2]. - The company is currently focused on advancing long-acting injectable HIV treatment and prevention drugs [1][2].

Alteogen Inc. is a South Korea-based biopharmaceutical company that focuses on the development and commercialization of novel biologics such as Antibody-Drug Conjugates (ADCs), biobetters, and biosimilars. Alteogen's portfolio includes clinical-stage long-acting therapeutic proteins and next-generation ADCs, developed by its proprietary NexPâ"¢-fusion and NexMabâ"¢ platform technology, respectively. It also developed a proprietary recombinant human hyaluronidase enzyme utilizing Hybrozymeâ"¢ technology, whi ...

The drugmaker said it agreed to pay RAPT shareholders $58 per share, with $1.9 billion upfront investment in cash. ...

Group 1 - GSK announced the acquisition of U.S.-based RAPT Therapeutics for $2.2 billion [1]

Group 1 - French carmaker Renault is collaborating with Turgis Gaillard to develop military drones [1]

Core Viewpoint - The Chinese innovative drug business development (BD) for overseas licensing reached a record high of $135.655 billion in total transaction value for 2025, with a significant increase in upfront payments and transaction numbers compared to previous years [1][2]. Group 1: Market Performance - The China Securities Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index (930965) showed mixed performance among its constituent stocks, with Times Angel leading at a 4.83% increase [1]. - The Hong Kong pharmaceutical ETF (159718) was quoted at 0.96 yuan [1]. Group 2: Industry Developments - The innovative drug BD overseas licensing transactions in China for 2025 totaled $135.655 billion, with upfront payments of $7 billion and 157 transactions, all marking historical highs [2]. - Notable collaborations include Rongchang Biopharma's PD-1/VEGF dual antibody RC148 receiving a $650 million upfront payment from AbbVie, and Yilian Biopharma's partnership with Roche on B7H3-targeted ADC [2]. - GSK's Bepirovirsen for chronic hepatitis B showed positive results in Phase III trials, and Arrowhead announced advancements in RNAi therapies for weight loss, validating the clinical value of small nucleic acid drugs [2]. Group 3: Investment Outlook - The 44th Annual J.P. Morgan Healthcare Conference revealed positive updates from leading global pharmaceutical companies, with significant BD transactions and improved forecasts from CXO companies like WuXi AppTec [2]. - The global pharmaceutical industry remains robust, with innovation in drugs and medical devices continuing to be the main investment theme [2].

Market Overview - US stocks are expected to face significant losses due to renewed trade tensions between the US and Europe, particularly regarding Greenland, with Dow Jones futures indicating a drop of over 700 points [1] - The S&P 500 futures fell by 1.6% and Nasdaq 100 futures dropped by 1.9%, following a losing week for Wall Street [1] Trade Tensions - President Trump threatened a 200% import tariff on French wines after France's President Macron declined an invitation to join Trump's "Board of Peace" [2] - Trump also stated that eight NATO countries would face additional import duties of 10% unless a deal regarding Greenland was reached, while the EU is considering $108 billion in retaliatory tariffs [3] Economic Impact - Treasury yields have risen to their highest levels in four months, with the 30-year yield reaching 4.93%, influenced by a sell-off in Japanese bonds and trade war risks [5] - The dollar has fallen to a two-week low, while gold and silver prices have reached record highs due to increased demand for safe-haven assets [5] Corporate Earnings - Investors are preparing for a busy earnings season, with Netflix, Intel, and Johnson & Johnson set to report results, and S&P 500 earnings growth expected to be around 12% to 15% this year [7] - The sentiment of "Sell America" could lead to potential downside for corporate earnings if trade tensions persist [7] Acquisition News - GSK has agreed to acquire RAP Therapeutics for $2.2 billion, which is expected to enhance its food allergy treatment portfolio [7] - Shares of RAP Therapeutics surged over 60% following the announcement of the acquisition [8]