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Wall Street on Monday made slight gains, as investors digested a significant escalation in the ongoing Iran and Israel conflict after the U.S. entered the fray. Here are some stocks to watch on Monday:
- U.S.-listed shares of Novo Nordisk (NVO) were -5.6% in early trading, after the Danish drugmaker said it was terminating its nearly two-month old partnership with American telehealth firm Hims & Hers Health (HIMS). Novo (NVO) accused Hims (HIMS) of “deceptive promotion and selling of illegitimate, knockoff versions of Wegovy that put patient safety at risk.” Class A shares of HIMS were -26.8%.
- Exelixis (NASDAQ:EXEL) stock was +10.3% after market open. The Alameda, Calif.-based biotech said a late-stage trial of its inhibitor zanzalintinib in combination with Tecentriq showed a better survival rate in patients with colorectal cancer than Bayer’s rival medicine regorafenib. Exelixis (NASDAQ:EXEL) executive Amy Peterson said the results marked an “important first milestone.”
- U.S.-listed shares of Alibaba (NYSE:BABA) were -0.5% early on. The Chinese tech major said it would combine its online travel agency and food delivery platform into an e-commerce group to capitalize on its artificial intelligence ambitions. CEO Eddie Wu said the move represented a “strategic upgrade from an e-commerce platform to a comprehensive consumer platform.”
- Fiserv (NYSE:FI) stock was +2.6% in early trading. The payment technology and financial services company unveiled plans to launch its own stablecoin – FIUSD – at no additional cost to clients, marking the latest example of the mania for the digital token that is sweeping Wall Street. FI also inked stablecoin payment partnerships with PayPal (PYPL) and Circle (CRCL).