markets

J. Edward Moreno1/12/26

Abivax rises amid report Eli Lilly is preparing a €15 billion bid

French biotech Abivax rose more than 20% in premarket trading after French outlet La Lettre reported that Eli Lilly is preparing a €15 billion bid (or roughly $17.5 billion) for the company.

Lilly has yet to submit a formal bid and is awaiting a regulatory green light, the outlet reported.

Abivax announced positive Phase 3 trial results for obefazimod, its drug that treats an inflammatory bowel disease, in July.

“If you are Big Pharma, you cannot ignore that this product may be one of the most-used products in the next decade,” Abivax CEO Marc de Garidel, attending the JPMorgan Healthcare Conference in San Francisco, told Bloomberg News.

Eli Lilly prêt à mettre 15 milliards d'euros sur la table pour la biotech Abivax - LA LETTRE

Abivax announced positive Phase 3 trial results for obefazimod, its drug that treats an inflammatory bowel disease, in July.

“If you are Big Pharma, you cannot ignore that this product may be one of the most-used products in the next decade,” Abivax CEO Marc de Garidel, attending the JPMorgan Healthcare Conference in San Francisco, told Bloomberg News.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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