Equities: Broad catch-up as yields back up – Danske Bank

Uber (UBER.US) will acquire food service company ezCater Inc. for $2.3 billion in cash, a move that will help the Uber Eats delivery platform reach more corporate clients.

October 6 – ** Paint manufacturer RPM International (RPM.N) shares fell 2% to close at $93.50 after releasing its first-quarter earnings report ** The company expects mid-single-digit growth in adjusted EBITDA for fiscal year 2027, compared to its previous forecast of 5% to 10% ** The company expects consolidated sales to achieve mid-single-digit growth, roughly in line with the previous estimate of 3% to 7% ** According to LSEG data, net sales for the first quarter were $2.22 billions, meeting analysts’ expectations ** Adjusted earnings per share for the first quarter were $1.98, higher than the expected $1.94 ** Out of 18 brokerages, 17 gave a “buy” or higher rating, 1 gave a “hold” rating; the median price target is $127.94—data compiled by LSEG ** As of the previous trading day’s close, the stock has fallen 8.37% year-to-date (To facilitate non-English speakers, Reuters has automated its reports into several other languages. As automated translations may contain errors or may lack necessary context, Reuters does not guarantee the accuracy of automated translation texts and provides them as a convenience to readers. Reuters assumes no liability for any harm or loss arising from the use of automatic translation functions.)

October 6th - Stryker (SYK.N) shares fell more than 3% in pre-market trading to $275.44. Current President and Chief Operating Officer Spencer Stiles will succeed Kevin Lobo as the CEO of the medical device manufacturer. Lobo, who has served as CEO since 2012, will become Executive Chairman starting January 1. Lobo oversaw more than 60 acquisitions, including the purchase of robotic surgery company Mako, which helped transform the orthopedic sector. Out of 29 brokerage firms, 24 rate the stock as "buy" or higher, while 5 recommend "hold"; the median target price is $380, according to data compiled by LSEG. As of the previous trading day's close, the stock was down 18.85% year-to-date. (For the convenience of non-English speakers, Reuters has automated the translation of its report into several other languages. As automated translations may contain errors or lack the necessary context, Reuters does not guarantee the accuracy of automated translation texts, which are provided solely for reader convenience. Reuters assumes no responsibility for any damages or losses arising from the use of automated translation features.)

On October 6, shares of drug developer ArriVent BioPharma (AVBP.O) dropped 62.7% to $10.62 in pre-market trading. The company stated that its experimental drug firmonertinib failed to significantly delay disease progression or death in a late-stage clinical trial involving 398 previously untreated patients with advanced lung cancer associated with a rare genetic mutation. In the higher-dose group, the median time patients lived without cancer progression was 11 months, compared to 9.5 months in the chemotherapy group; additionally, 60% of patients saw tumor shrinkage, versus 33% in the chemotherapy group. In the high-dose group, 52% of patients experienced serious side effects, compared to 55% in the chemotherapy group; no new safety issues were reported. ArriVent is reviewing the full results to determine the next steps for the drug's development. As of the previous trading day's close, AVBP had risen 41.5% so far this year. (For ease of use by non-English speakers, Reuters offers its reports translated automatically into several languages. Automated translations may be inaccurate or may not adequately convey the intended meaning. Reuters does not guarantee the accuracy of these translations and provides them solely for reader convenience. Reuters accepts no liability for any damages or losses incurred from the use of the automated translation service.)