oxtain
U.S. stocks on Tuesday kicked off the holiday-shortened final week of the year with gains, as Wall Street attempts to extend its rally to the end of 2023.
Here are some of Tuesday's biggest stock movers:
Biggest stock gainers
Intel (NASDAQ:INTC) stock rose nearly 5% and was the top percentage gainer on all three major Wall Street averages. Reuters reported that the Israeli government agreed to give the chip giant a $3.2B grant for a new $25B chip facility it intends to set up in the the southern part of the country. The site is scheduled to open in 2027 and operate through 2035.
Shares of RayzeBio (NASDAQ:RYZB) more than doubled in value, rocketing ~100% after Bristol Myers Squibb (BMY) agreed to buy the company for $62.5/share in cash for a total equity value of about $4.1B. The acquisition marks the second for Bristol (BMY) in as many weeks, following its $14B deal for Karuna Therapeutics (KRTX). Bristol (BMY) stock was down ~2%.
U.S.-listed shares of Gracell Biotechnologies (GRCL) surged about 60% following the announcement that it has entered into a definitive agreement to be acquired by AstraZeneca (AZN) for $1.2B, as part of the AZN's efforts to grow its cell therapies business.
Stratasys (SSYS) stock advanced more than 11%, after rival 3D printer and largest shareholder Nano Dimension (NNDM) made another bid to acquire the rest of the company it doesn't already own at $16.50/share. The offer represents a 26% premium to Stratasys's (SSYS) closing price on Friday.
U.S.-listed shares of Nio (NIO) gained ~9%, after the Chinese electric vehicle maker unveiled its latest high-end sedan - the ET9, a model that the company dubbed as its "executive flagship." The car is now available for pre-order in China with deliveries targeted for Q1 2025.
Biggest stock losers
Airbnb (NASDAQ:ABNB) stock slipped around 2% and was the top percentage loser on the S&P 500 (SP500). There was no news on the vacation rental company on Tuesday, but the stock has generally seen some weakness over the past few trading sessions. The decline has come following a A$15M penalty levied on the company by an Australian federal court over allegations that it misled consumers about the currency of the prices on its accommodation platform.
Class A (LGF.A) and class B (LGF.B) shares of Lionsgate were down 2.1% and 2.7%, respectively. The company on Friday said it would bring its movie and television studio operations to the public markets through a deal with a special purpose acquisition company.
Related stock stories
- Intel's future may be turning around. One firm thinks it eventually splits up.
- Bristol-Karuna deal: What other biotechs might be in M&A crosshairs?
- Stratasys adopts limited duration shareholder rights plan
- NIO: Abu Dhabi Deal Could Lead To Major Breakout (Rating Upgrade)
- Lions Gate studio deal likely means it will seek to monetize Starz - analyst