TLDR

MARKET RECAP → The Dow (DIA) closed higher on Monday while the tech-heavy Nasdaq (QQQ) slipped as big technology stocks continued to sell off after leading the rally in 2024.

ELI LILLY TO ACQUIRE SCORPION THERAPEUTICS’ CANCER THERAPY IN $2.5 BILLION DEAL → Eli Lilly (LLY) is buying Scorpion Therapeutics’ PI3K-targeting cancer drug, STX-478, for up to $2.5 billion, boosting its oncology pipeline with a focus on advanced solid tumors. 🩺

BILL ACKMAN OFFERS $85 PER SHARE TO TAKE HOWARD HUGHES PRIVATE → Bill Ackman’s Pershing Square proposed a $85-per-share buyout of Howard Hughes Holdings (HHH), promising a 38% premium and no changes to leadership or strategy, as shares jumped 10% on the news. 🚀

Was this email forwarded to you? Sign up for free here.

On the move? Subscribe to our daily podcast here.

MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

Eli Lilly To Acquire Scorpion Therapeutics’ Cancer Therapy in $2.5 Billion Deal

🩺 Strategic Expansion: Eli Lilly (LLY) announced plans to acquire Scorpion Therapeutics’ experimental cancer therapy, STX-478, for up to $2.5 billion. This PI3K inhibitor targets advanced solid tumors, including breast cancer, and bolsters Lilly’s oncology pipeline.

💰 Deal Structure: The agreement includes an upfront cash payment and additional payouts tied to regulatory and sales milestones. Scorpion will spin off its non-PI3K assets into a new entity owned by current shareholders, with Lilly taking a minority stake.

🔬 Oncology Expertise: Lilly Oncology President Jacob Van Naarden highlighted the opportunity to advance STX-478 with Lilly’s established expertise in breast cancer. The acquisition aligns with Lilly’s focus on precision therapies for complex cancers.

TODAY’S TOP NEWS

Eli Lilly To Acquire Scorpion Therapeutics’ Cancer Therapy In $2.5 Billion Deal

📈 Ackman's Premium Offer: Bill Ackman’s Pershing Square proposed a merger with Howard Hughes Holdings (HHH), offering shareholders $85 per share—a 38.3% premium to its unaffected price. Shareholders could opt for cash or stock in the new entity. Howard Hughes shares surged 10% on the news.

🏗️ Long-Term Frustration: Ackman, whose firm owns 38% of Howard Hughes, expressed disappointment in the company’s stock performance despite solid operational progress. Since 2010, Pershing’s investment yielded a mere 2.2% annualized return, with no dividends paid during this period.

💼 Business as Usual Post-Merger: Ackman assured no changes to Howard Hughes’ leadership, employees, or strategy under the proposed deal. Current CEO David O’Reilly and his team would continue managing the company.

A MESSAGE FROM OUR PARTNER

Seeking impartial news? Meet 1440.

Every day, 3.5 million readers turn to 1440 for their factual news. We sift through 100+ sources to bring you a complete summary of politics, global events, business, and culture, all in a brief 5-minute email. Enjoy an impartial news experience.

Join for free today!

BULL VS. BEAR

NOTABLE POSTS

KEEP READING

Bezos’ Blue Origin stands down on debut launch of New Glenn rocket (CNBC)

Why you may be paying to help make the mattress industry more eco-friendly (CNBC)

LNG exporter Venture Global seeks up to $110 billion valuation in U.S. IPO (CNBC)

MoneyLion has teamed up with Beast Games to give MoneyLion users a chance at game-changing cash (ML)

Financial Resolutions for Beginners: Start Your Money Journey Right in 2025 (ML)

Do Overdrafts Affect Credit Score? (ML)

Cuddly Cute Chaos: Ridiculous Lessons in Money Episode 4 (ML)

Subscribe to our daily podcast

WHAT WE’RE WATCHING

OUR FAVORITE TOOLS & RESOURCES

• OpenBB — AI-powered research and analytics workspace

• Earnings Hub — Earnings calendar

• Quiver Quantitative — Quiver allows retail investors to tap into the power of big data with insights into things like congressional trades as they are disclosed

• Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine

• The Market Ear — Live news, analysis and commentary on what moves markets and trading

• Coinmarketcap.com — Crypto market data

• Finviz — Financial visualizations

• Trading Economics — Economic calendar

• CME FedWatch Tool — Market-implied probabilities of future levels of interest rates 

• Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett

• ChatGPT — Large language model-based chatbot powered by generative AI

• Vimcal — Lightning-fast calendar and AI scheduling assistant

^{_{The Bull vs. Bear Merchandise Promotion is a limited time campaign that begins on December 1, 2023 at 12:00 AM ET and ends on the date that there are no more Rewards. This Promotion is available to any registered MoneyLion user who is a legal resident of the 50 United States or the District of Columbia and who has reached the age of majority in their state as of the beginning of the Promotional Period. See terms and conditions here.}}

<sup><sub>This advertising email was sent to you because you have a MoneyLion account. If you would like to unsubscribe, please do so using this link. We respect your right to privacy. Please do not reply to this email with sensitive information, such as an account number, Social Security number, date of birth, bank account information, PIN, password, or Online ID. The security and confidentiality of your personal information is important to us. If you have any questions or want to read more, please visit our Help Center.

MoneyLion and Pathward do not provide, nor do they guarantee, any third-party product, service, information, or recommendation. The third parties providing these products or services are solely responsible for them, as well as all other content on their websites. MoneyLion is not liable for any third party’s failure with regard to those advertised products, services, and benefits. These advertised products and services may not be FDIC insured or bank-guaranteed, and may be subject to a different privacy policy than MoneyLion’s. You should check individual offers, products, and services to become familiar with any applicable restrictions or conditions that may apply. MoneyLion may receive compensation from third parties for referring you to the third party, their products or to their website.

The influencer, creator and other content provided in the MoneyLion App (“Content”) is for informational and entertainment purposes only and should not be construed as legal, tax, investment, financial, or other advice. All Content is intended to be of a general nature, does not address the circumstances of any particular individual or entity, and may not constitute a comprehensive or complete statement of the matters discussed. MoneyLion is not a fiduciary by virtue of any person’s use of or reliance on the Content. You should consult an appropriate professional if you require any legal, tax, investment, financial or other advice. Terms and Conditions for our subscriber referral can be found here.</sub></sup>