All three major US stock indexes were down more than 1% in late-morning trading Friday, as the markets looked as though they would end Christmas week on a down note.
In company news, UnitedHealth Group (UNH) and Amedisys (AMED) extended the deadline for closing their $3.3 billion merger, as the US Department of Justice scrutinizes the deal, a Friday filing showed. Under a waiver agreement executed Thursday, the deadline was extended to 10 days after a final court decision is issued in the lawsuit filed by the Justice Department to block the proposed merger or on Dec. 31, 2025, whichever comes first, the filing showed. UnitedHealth shares were down 0.3%, while those of Amedisys were up 4.5% around midday.
Microsoft-backed (MSFT) OpenAI is considering reorganizing itself to become a Delaware public benefit corporation in order to raise conventional capital while maintaining a nonprofit arm, the company said Thursday in a blogpost. OpenAI currently operates as both a nonprofit and for-profit entity, supported by investments from Microsoft and other companies, as well as from venture capitalists. Microsoft shares were down 2.0%.
Brookfield Asset Management (BAM) and co-investors acquired a roughly 53% stake in French renewables developer Neoen for 39.85 euros ($41.53) per share, Bloomberg reported Friday. The group purchased the stake from shareholders and plans to launch a tender offer for the remaining shares at the same price in order to take the company private, the report said. Brookfield Asset Management shares were down 1.4%.
Nearly 65 million people across the US watched two NFL matchups on Christmas Day that were broadcast exclusively on Netflix (NFLX), CNBC reported Friday, citing data from Nielsen. The viewership set records for the most streamed NFL games ever in the US, CNBC reported, citing Nielsen. Netflix shares were down 2.3%.
Taiwan's Ministry of Science and Technology said Friday that funding for semiconductors, AI and aerospace could drop by 20 billion Taiwanese dollars ($609.1 million) next year after opposition parties approved laws cutting economic and technology spending, Reuters reported. Shares of Micron Technology (MU), Nvidia (NVDA), Advanced Micro Devices (AMD) and Taiwan Semiconductor Manufacturing (TSM) were down 1.2%, 2.2%, 0.6% and 1.0%, respectively.
Arthur J. Gallagher (AJG) said Friday it has acquired Murray Gardner Insurance Agency based in Tustin, Calif. Financial details of the deal were not disclosed. Shares of Gallagher were down 0.5%.
BioNTech (BNTX) has entered into two separate settlements with the US national Institutes of Health and the University of Pennsylvania over royalties on sales of the company's Covid-19 vaccine, separate filings showed Friday. Without admitting liability, the biotech company said it agreed to pay $791.5 million to the NIH and $467 million to the University of Pennsylvania, according to the filings. Shares of BioNTech were up 0.8%.
Price: 510.02, Change: -1.13, Percent Change: -0.22
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