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Newspaper
Holland Sentinel
Location
Holland, Michigan, United States of America
Date
Jan 04, 2019
Page
4
Bristol Myers Squibb agrees to acquire Celgene for 74 billion in cash and stock to expand the combined pipeline with cancer immunology and cardiovascular drugs. The deal adds Revlimid and other near launch products, giving the merged firm nine billion-dollar sales products and existing Orencia and Opdivo portfolios.
Local stocks push gains as the Dow jumps 660.02 to 22,686.22 and Nasdaq gains 202.43 to 6,463.50. Investors monitor shifts in major indices and early trading cues for the week.
Apple warns weak iPhone demand will tank Q4 revenue, led by China. The broader tech sector faces headwinds as shipments drop, profits shrink, and brands like Samsung, Huawei, Xiaomi, and Oppo compete with newer prices. IDC forecasts a rebound next year but not to 2017 levels.
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