⏱Lots of drug money
Good morning everyone! We hope you’re having a good weekend and getting some of that holiday shopping done!
0:05- Build your IPO cancelled
In a press release yesterday, Roblox announced that they would be delaying their IPO. In the statement, Roblox cited the recent market performances of Airbnb ($ABNB) and DoorDash ($DASH) on their debut days as proof of the difficulty required to properly price shares at the moment. In the memo they also told employees not to worry, and that the business was still “strong.”
0:22- Drug Money (of the legal variety)
AsztraZeneca, the pharmaceutical company from London, ($AZN) has agreed to terms to buy Boston, MA based Alexion Pharmaceuticals ($ALXN) for $39 billion in both cash and stock. This move follows the large gains made by AstraZeneca as their Covid-19 vaccine is in late stage review by European regulators, and could be released within the next few weeks.
0:37- Out with Silicon Valley, and in with Austin, TX
Oracle Corp. ($ORCL) recently announced that they would be the newest company to move their headquarters out of Silicon Valley and to Texas. They stated that the move was designed as “. . .part of an effort to have a more flexible approach to our workforce”, although they also stated that they wouldn’t be moving any staff to the new headquarters, so as of right now the only change is on the address line.
0:56- Code Crackers
More than 51 years after the fact, a group of private citizens have solved the code left behind by the Zodiac Killer. The letter, which has stumped the police and FBI, states, “I hope you are having lots of fun in trying to catch me. I am not afraid of the gas chamber because it will send me to paradice (sic) all the sooner because I now have enough slaves to work for me” That’s some bone chilling stuff right there.
1:17- Well, this news is kind of nerve wracking
Yesterday, a Russian nuclear submarine successfully fired four test intercontinental missiles, proving their capability as tensions with the United States remain high. That’s uh... not good.
1:24- Strapping in for the end of the pandemic
The European Central Bank propped its emergency program by increasing its bond purchases by more than 1/3, and issuing new ultracheap loans for banks to help them weather the next few months.
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
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