Nasdaq Index, Dow Jones, S&P 500 News: Morphic Holding Shares Surge Over 75%; Alibaba Group Stumbles

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Daily Boeing Company

Boeing agreed to plead guilty to a criminal fraud charge, paying a $243.6 million fine and investing $455 million in compliance and safety programs. This follows a previous $2.5 billion settlement with the Justice Department over charges related to the fatal 737 Max crashes.

Mergers and Acquisitions

Morphic Holding shares surged over 75% following Eli Lilly’s $3.2 billion acquisition announcement. This move gives Eli Lilly access to Morphic’s pipeline of treatments for inflammatory bowel diseases. Eli Lilly shares edged up 0.2%.

Paramount Global stock added 2% after announcing a merger deal with Skydance Media, potentially reshaping the media landscape.

Analyst Actions Drive Stock Movements

SolarEdge experienced a 5% uptick after Bank of America upgraded its shares to neutral from underperform. ServiceNow shares slipped 3% following a downgrade to sell from neutral by Guggenheim, expressing doubts about the company’s near-term prospects in generative AI.

Domino’s Pizza rose more than 1% after Baird upgraded the stock to outperform, highlighting the company’s strong fundamentals.

Healthcare and Financial Sectors

Gilead Sciences saw a 2% increase after Raymond James upgraded the stock to outperform, citing potential revenue growth from two promising drug candidates.

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