This week, which stocks lagged or dragged? Weekly Winners column keeps up with market trends, helping Tigers sort out the week's hottest sectors, stock winners and important news.
Below are the top 10 US stock gainers for the week ended Jan. 17:
Johnson & Johnson to Acquire Intra-Cellular in $15 Billion Deal
Johnson & Johnson agreed to acquire mental-illness drug developer Intra-Cellular Therapies for about $15 billion, evidence of the pharmaceutical industry's renewed interest in neuroscience bets with vast but unrealized promise.
The deal would add to J & J's portfolio lumateperone, an Intra-Cellular drug branded Caplyta, a pill that treats bipolar depression and schizophrenia. Analysts predict the drug's sales could reach $4 billion a year by 2030 if regulators approve expanding its use to include major depressive disorder.
Bitcoin Gains as Trump Reportedly Plans Crypto Executive Order; MicroStrategy Shares up 21%
Bitcoin rejoined the crypto rally on Friday amid reports that President-elect Donald Trump could soon release an executive order making crypto a national priority.
The price of the flagship cryptocurrency rose to $105,320, according to Coin Metrics.
Shares of MicroStrategy rose 21% this week.
Short Seller Hindenburg Research Closes Up Shop
A short seller and research firm, Hindenburg Research, which specializes in forensic financial research, announced Wednesday that it was closing its doors.
The most recent report filed by the company was on Jan. 2 about auto retailer Carvana Co., which it called a “father-son accounting grift for the ages.” In a statement, Carvana called the firm’s report “intentionally misleading and inaccurate.” The stock fell more than 11% the day after Hindenburg published its report but has since recovered.
JD.com Launches Gifting Feature to Compete with Alibaba, Tencent Ahead of Lunar New Year
Chinese e-commerce platform operator JD.com on Friday introduced a gifting feature on its mobile app, joining rival Alibaba Group Holding in countering the competitive pressure from social media giant Tencent Holdings, which launched a similar feature last month.
When browsing a selection of eligible merchandise, JD.com app users will see a button labelled “Gifting IT.” After clicking it, users follow a few simple steps to pay for an item and have it shipped directly to the recipient.
Comments