U.S. stocks up with Dow Jones gaining 200+ points. AbbVie Inc. announced acquisition of Apogee Therapeutics for $10.9B. Other gaining stocks include DFTX, HIVE, SSTK, BWIN, ICCM, ORKA, CHRN, UMC, MLTX, FRVO, and SMCI.
AbbVie acquires Apogee ($10.9B); broad rally on semiconductor (SMCI +14%, ON +7.5%, CRDO +11.5%) signals risk-on capex. Signal for tech leaders: watch for capex shift toward AI infrastructure and hardware; SaaS-lean budgets may reallocate to chip vendor partnerships.
U.S. stocks were higher, with the Dow Jones index gaining more than 200 points on Monday.
Shares of Apogee Therapeutics Inc (NASDAQ:APGE) rose sharply on Monday.
AbbVie Inc.
(NYSE:ABBV) announced Monday that it has agreed to acquire Apogee Therapeutics in a cash deal valued at approximately $10.9 billion.
AbbVie will pay $135.11 per share in cash for all outstanding Apogee shares.
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