Diamonds and Dogs
Turning Point Therapeutics (TPTX) jumps 116% after agreeing to a $4.1 billion offer from Bristol Myers Squibb (BMY). The deal adds repotrectinib to Bristol Myers' wheelhouse. Repotrectinib is a potential treatment for lung cancer patients with a specific genetic mutation. It's expected to launch next year.Wedbush analyst David Nierengarten says the deal could be a positive for the broader cancer space and for similar small/mid-cap biotechs
Elon Musk has a "super bad feeling" about the economy. Tesla, the world's most valuable auto maker, is down 8% after their CEO made cautious comments on the economy and indications the company may cut staff by 10%.
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