All three major US stock indexes were up in late-morning trading Friday, after the US Bureau of Labor Statistics issued the latest employment data, which undershot expectations.
The December jobs report showed nonfarm payrolls rose by 50,000, below the consensus estimate of 70,000 in a survey compiled by Bloomberg. November payrolls were revised down to a 56,000 gain, while October payrolls were revised down to a 173,000 decline for a net downward revision of 76,000 jobs. The unemployment rate fell to 4.4% in December from 4.5% in November, compared with the consensus estimate of 4.5%.
Vistra (VST) said Friday it has entered into 20-year power purchase agreements to provide over 2,600 megawatts of nuclear energy from three of its plants to support Meta Platforms (META) operations in Ohio and Pennsylvania. Financial terms were not disclosed, but Vistra said it will begin planning for subsequent license extensions at the three plants to extend their lives by an additional 20 years. Separately, Meta and TerraPower said Friday they've agreed to develop up to eight Natrium advanced nuclear reactor and energy storage plants in the US. Under the agreement, Meta will provide funding to support the deployment of the plants with the delivery of initial units targeted in 2032, the companies said. Vistra shares were up over 12% around midday, while Meta shares were up 1%.
Merck (MRK) is in talks to buy Revolution Medicines (RVMD), the Financial Times reported Thursday, citing unnamed sources. The deal, which could be announced in several weeks, is likely to be valued between $28 billion and $32 billion, the report said. Merck shares were down 0.3%, while Revolution shares were up 5.7%.
Rio Tinto (RIO) and Glencore are in preliminary talks about a possible combination of some or all of their businesses, which may include an all-share merger, Glencore said Thursday in a statement. Rio is open to retaining Glencore's coal business if the companies merge, Bloomberg reported Friday, citing people familiar with the matter. Rio shares were down 3.7%.
Amazon.com's (AMZN) pharmacy unit said Friday it now offers the pill version of Novo Nordisk's (NVO) Wegovy through insurance plans and cash-pay options. Customers without insurance can buy the pill for $149 per month through the cash-pay option, while those with commercial insurance may pay $25 for a one-month supply, Amazon Pharmacy said. Amazon shares were up 0.1%, while Novo Nordisk shares were up 3.2%.
Price: 652.27, Change: +6.21, Percent Change: +0.96
