Diamonds and Dogs
Pfizer (PFE) and BioNTech (BNTX) are lifting the markets. The two drug companies are up 5% and 14% respectively as their combined COVID-19 vaccine candidates have received Fast Track designation from the U.S. Food and Drug Administration (FDA).
Analog Devices (ADI) makes a big acquisition. Analog is down 3% after acquiring rival Maxim Integrated Products for $20.9 billion in stock, heralding what may develop into a new round of consolidation in the $400 billion semiconductor industry. Analog will acquire 10,000 engineers. Maxim is trading up 10%.
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