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The S&P 500 edged up Friday following the largest three-day decline in the benchmark index since March.
The S&P 500 is still heading for a third straight weekly loss, as is the Nasdaq Composite.
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Marketwatch:
Activision Blizzard (ATVI): Stock rose 2 %
Alibaba (BABA), https://t.co/ShdJlrYZOX (JD), PDD (PDD): stock jumped, echoing a rally in HK shares
Seagen (SGEN): stock jumped 3.5%
Meta Platforms (META): Stock rose more than 2%
Arm (ARM): stock fell#TrendingNews pic.twitter.com/sgcviGftf2— The_Journalbiz (@the_journalbiz) September 22, 2023
Factset chart
Microsoft (MSFT), Activision Blizzard (ATVI): A modified deal by the software giant to buy the videogame publisher was cleared by the U.K.’s antitrust authority. Activision Blizzard stock rose 1.7%, while Microsoft wavered.
Alibaba (BABA), JD.com (JD), PDD (PDD): American depositary receipts in Chinese tech companies jumped, echoing a rally in Hong Kong-listed shares. A Bloomberg report that China was considering relaxing limits on foreign ownership of domestically listed companies helped lift investor sentiment.
Seagen (SGEN): The biotech company posted positive results from a Phase 3 study of a cancer-drug combination including its Padcev treatment. Seagen’s stock jumped 3.5%.
Meta Platforms (META): The Facebook parent’s stock rose more than 2%. Citi analysts, who rate the stock a “buy,” opened a “upside 90-day catalyst watch” late Thursday,
Arm (ARM), Klaviyo (KVYO), Instacart (CART): The three recently listed tech stocks all fell in recent trading.
AstraZeneca (AZN): The Anglo-Swedish pharmaceutical company reported positive results for the drug Dato-DXd in treating breast cancer. AstraZeneca’s ADRs gained nearly 2%.
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