On this episode of Stock Movers:
- Pfizer (PFE) is moving as it agreed to buy the obesity startup Metsera Inc. for an enterprise value of about $4.9 billion to bolster its pipeline after a key weight-loss pill foundered. The US drugmaker will pay Metsera $47.50 in cash per share, and further payments of up to $22.50 per share if three specific and regulatory milestones are met, it said in a statement Monday. The deal represents a 43% premium to Metsera’s closing share price on Friday.
- Oracle (ORCL) is rising his morning on news would recreate and provide security for a new US version of TikTok's algorithm under a deal to sell the app to a consortium of American investors. Oracle will operate in partnership with the US government on everything from algorithm retraining to application development and source code review to ensure content is free from improper manipulation or surveillance.
- Alphabet (GOOG) shareholders are following news that the Justice Department is heading to court to force a breakup of Alphabet's Google, seeking to divest its advertising exchange AdX, which the department says is the best way to restore competition in the market for online display advertising. Google says a full divestiture of AdX isn’t needed and has proposed to make its ad tech tools work seamlessly with those of rivals, arguing that breaking apart integrated tools would harm website publishers and advertisers.
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