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By Staff Reporters

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BIOTECHNOLOGY: According to Bloomberg, former high flying biotechnology favorites Mirati Therapeutics Inc. and Sage Therapeutics Inc. have lost more than half their value from record highs, hurt by growing pessimism on new medicines as well as the higher rate environment damaging most stocks.

MARKETS: Stocks went down, then back up, and closed pretty much where they started. The e-commerce platform Shopify is another pandemic winner that’s been absolutely crushed during the “reopening”: Its stock has fallen to its lowest level since June 2020.

PPI: The producer price index rose 1% over the prior month.

Covid: Dr. Zayid Al-Aly reported that even a mild COVID-19 infection increasedthe risk of having cardiovascular problems — including heart rhythm irregularities, potentially deadly clots in the legs and lungs, heart failure, heart attack and stroke, within a year after being infected.

MICROSOFT: Microsoft CEO Satya Nadella is on a major shopping spree. The company’s planned purchase of video game maker Activision Blizzard, with a price tag of nearly $70 billion, is Microsoft’s biggest and boldest acquisition. But it’s hardly the only notable deal in the Nadella era. Microsoft scooped up advertising tech business Xandr from CNN owner AT&T late last year for a reported $1 billion. The company also shelled out nearly $20 billion for cloud software firm Nuance earlier in 2021. That’s on top of numerous other billion dollar deals Microsoft has made since Nadella took the helm in 2014, including the acquisitions of Minecraft developer Mojang, Bethesda games studio owner ZeniMax Media, open source coding site GitHub and business social media network LinkedIn. The LinkedIn deal was previously Microsoft’s largest, with a value of $26.2 billion. Now there are reports Microsoft is looking to buy Mandiant, the cybersecurity software firm formerly known as FireEye that is currently valued at about $4.5 billion.

CITE: https://www.r2library.com/Resource/Title/0826102549

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Filed under: Alerts Sign-Up, Glossary Terms, Health Economics, Investing | Tagged: Activision, bio-technology, Blizzard, DJIA, FireEye, GitHub, Investing, M&A, mergers, microsoft, Mirati Therapeutics, NASDAQ, PPI, Producer Price Index, S&P 500 Index, Sage Therapeutics, Satya Nadella, shopify, stock markets | Leave a comment »