Weekly Download - June 15
Two noteable drugmakers that are leading efforts to fight the coronavirus are exploring a potential merger. AstraZeneca (Tii:AZN), co-developer of one of the fastest-moving experimental coronavirus vaccines, has made a preliminary approach to Gilead Sciences (Tii:GILD), the only company to have received FDA emergency authorization for its COVID-19 treatment remdesivir. If combined, the two companies would have a market capitalization north of $225 billion.
IBM (Tii:IBM) CEO Arvind Krishna called on Congress Monday to enact reforms to advance racial justice and combat systemic racism, while announcing the company was getting out of the facial recognition business.
Shares of Nikola (Tii:NKLA) surged this past week, ending at $64 last Friday. The company recently went public following a merger with VectoIQ, and began trading at $33.69 on its first day. Their intention of disrupting the alternative fuel industry, and electric vehicle companies like Tesla (Tii:TSLA), has turned a lot of heads for a company that doesn't expect revenues this year.
Grubhub Inc. agreed to combine with Europe’s Just Eat Takeaway.com NV, turning its back on Uber Technologies (Tii:UBER) in a surprising twist in the scramble for mergers among food-delivery companies.