Midday movers: Horizon Therapeutics, Coupa Software, Microsoft and more
By Liz Moyer
Investing.com -- Stocks are rising as investors await key inflation data and the Federal Reserve's decision on the next direction for interest rates. Here are the midday movers for Dec. 12.
Horizon Therapeutics PLC (NASDAQ: HZNP ) stock jumped 15% after Amgen made a $27.8 billion offer to buy the biotech firm. It would be Amgen's biggest deal and add to its portfolio of drugs such as Tepezza for treating thyroid eye disease. Amgen Inc (NASDAQ: AMGN ) shares fell 1.5%.
Coupa Software Inc (NASDAQ: COUP ) stock jumped more than 26% after the maker of business software agreed to an $8B take-private offer from Thoma Bravo.
Microsoft Corporation (NASDAQ: MSFT ) shares rose 1.8% after it agreed to take on a 4% stake in the London Stock Exchange Group (LON: LSEG ). The deal is part of a 10-year partnership that includes data, analytics and cloud computing products.
Weber Inc (NYSE: WEBR ) stock jumped 23% after the maker of grills and other outdoor equipment agreed to a $3.7B take-private offer from BDT Capital. BDT is buying the rest of the shares it doesn't own for $8.05 each.
Rivian Automotive Inc (NASDAQ: RIVN ) stock fell 4.5% after it said it would put on hold a plan to make electric vans in Europe in partnership with Mercedes-Benz (OTC: DDAIF ). It added it could pursue other projects with Mercedes at a "more appropriate" time.
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