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Yahoo
3 hours ago
- Yahoo
Why Summit Therapeutics Stock Soared 8% Higher Today
A large, well-capitalized peer is apparently interested in a partnership deal with the company. This could be worth up to $15 billion in total, according to a media report. 10 stocks we like better than Summit Therapeutics › One day before the July Fourth holiday, the stock of clinical-stage biotech Summit Therapeutics (NASDAQ: SMMT) exploded like a powerful fireworks display. Shares of the cancer-focused company leaped by 8%, on a media report that a well-known peer was interested in a licensing deal. That rise bettered the S&P 500's (SNPINDEX: ^GSPC) 0.8% increase by several orders of magnitude. The media outlet in question was Bloomberg, which that morning published an article asserting that AstraZeneca is in talks with Summit about a partnership between the two companies. According to unnamed "people familiar with the matter," the piece stated that such a partnership would center on the investigational lung cancer treatment ivonescimab. The drug, which Summit licenses from Chinese peer Akeso, has recently attracted much attention from the healthcare community and investors alike. This was due to its impressive performance in a late-stage clinical trial. Bloomberg's sources said that the terms of a potential deal were still being hashed out. They might include an up-front payment of several billion dollars, and several milestone payments over time (this kind of structure is common in pharmaceutical industry licensing/partnership arrangements). All told, a deal between the two companies could pay out as much as $15 billion. Both Summit and AstraZeneca declined comment on the Bloomberg article. When a drug development program attracts $15 billion worth of interest from a major industry player with deep pockets, it's almost indisputably a win. If the Bloomberg report is accurate and a deal is indeed in the works (and is ultimately agreed upon), it would open a great, powerful, and quick road to success for Summit. It's little wonder investors were so happy about the possibility. Before you buy stock in Summit Therapeutics, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Summit Therapeutics wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $692,914!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $963,866!* Now, it's worth noting Stock Advisor's total average return is 1,049% — a market-crushing outperformance compared to 179% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 30, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Summit Therapeutics. The Motley Fool recommends AstraZeneca Plc. The Motley Fool has a disclosure policy. Why Summit Therapeutics Stock Soared 8% Higher Today was originally published by The Motley Fool
Yahoo
3 hours ago
- Yahoo
Asian Fund Pivots to Samsung Bet After Riding Pop Mart Rally
(Bloomberg) -- A peer-beating Asian equity fund is turning its sights on Samsung Electronics Co. after adding Pop Mart International Group Ltd. before the latter's share price surge. NYC Commutes Resume After Midtown Bus Terminal Crash Chaos Struggling Downtowns Are Looking to Lure New Crowds Massachusetts to Follow NYC in Making Landlords Pay Broker Fees Foreign Buyers Swoop on Cape Town Homes, Pricing Out Locals What Gothenburg Got Out of Congestion Pricing The $1.6 billion Ninety One Global Strategy Fund - Asian Equity Fund bought Pop Mart shares in March 2024 after its quantitative model identified the Labubu maker's earnings potential amid China's economic malaise, said London-based co-manager Charlie Linton. He recently turned overweight on Samsung, saying many investors have 'mispriced' the company because it's lagging rivals like SK Hynix Inc. in the high-bandwidth memory chip market. The fund's screening often highlights stocks that are 'discarded' by investors making decisions based on geographic and sector-driven trends, he said. It has returned 15% this year, outperforming 94% of peers, according to data compiled by Bloomberg. Linton's team relies on a model that screens stocks in the region using a blend of factors — quality, value, operational performance and technical momentum — and picks shares that are expected to withstand market volatility, he said. The fund viewed Pop Mart as undervalued given the popularity of its characters and intellectual property products. Its shares have soared roughly 600% over the past year. While Samsung's shares have trailed those of SK Hynix, which supplies HBM to Nvidia Corp, the firm's next-generation DRAM chip could help the stock catch up with peers once production takes off, Linton said. Samsung shares are up 20% this year, while SK Hynix's have jumped 60%. 'Currently everyone is underweight' Samsung, said Linton, who also owns SK Hynix shares. 'We've taken a bit more positive view, partly because the valuation looks very attractive.' Chinese equities make up almost a third of the fund. Linton owns shares of Naura Technology Group Co., which he sees as a proxy to China's rising semiconductor prowess thanks to its localization efforts and growth that's outpaced domestic counterparts. SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too America's Top Consumer-Sentiment Economist Is Worried How to Steal a House China's Homegrown Jewelry Superstar Sperm Freezing Is a New Hot Market for Startups ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
5 hours ago
- Bloomberg
Big Take: Trump Tax Bill Marks Sweeping Policy Shift
After weeks of legislative wrangling, the House passed President Trump's signature tax bill, sending it to his desk just before his July 4 deadline. It's the latest in a sweep of major victories on legislative, military and legal fronts, all of which could impact how Trump enacts his agenda going forward. On today's Big Take Podcast, Bloomberg's White House and government editor Mario Parker joins Sarah Holder to discuss what the events of the last two weeks could mean for the rest of Trump's term — and for the future of executive power.
