AbCellera stock jumps after settlement with Bruker in patent dispute

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Advanced Micro Devices

Summary:

Investing.com -- AbCellera Biologics Inc (NASDAQ:ABCL) stock surged 5.1% on Thursday after the company announced a global...

Investing.com -- AbCellera Biologics Inc (NASDAQ:ABCL) stock surged 5.1% on Thursday after the company announced a global settlement with Bruker Corporation (NASDAQ:BRKR) that resolves their ongoing patent litigation.

Under the terms of the agreement, Bruker will pay AbCellera $36 million upfront and commit to future royalty payments on sales of Bruker’s Beacon® Optofluidic platform products worldwide. The royalty payments will continue through the life of the licensed patents.

The settlement ends all patent disputes between the two biotechnology companies globally. The resolution appears to have been positively received by investors, as reflected in AbCellera’s stock price increase during the trading session.

AbCellera, which specializes in antibody discovery technology, has seen its shares respond favorably to the news of this settlement that secures both immediate financial compensation and an ongoing revenue stream from Bruker’s product sales.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Denmark stocks lower at close of trade; OMX Copenhagen 20 down 0.16%

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Investing.com – Denmark stocks were lower after the close on Thursday, as losses in the Software & Computer Services, Healthcare and Real Estate sectors led shares lower.

At the close in Copenhagen, the OMX Copenhagen 20 fell 0.16%.

The best performers of the session on the OMX Copenhagen 20 were Novozymes AS (CSE:NSISb), which rose 2.80% or 11.00 points to trade at 404.00 at the close. Meanwhile, NKT Holding (CSE:NKT) added 1.31% or 10.00 points to end at 773.50 and DSV Panalpina A/S (CSE:DSV) was up 1.16% or 18.00 points to 1,574.00 in late trade.

The worst performers of the session were Novo Nordisk A/S Class B (CSE:NOVOb), which fell 1.25% or 3.90 points to trade at 304.30 at the close. Coloplast A/S (CSE:COLOb) declined 1.02% or 5.60 points to end at 543.40 and Genmab (CSE:GMAB) was down 0.74% or 15.00 points to 2,004.00.

Rising stocks outnumbered declining ones on the Copenhagen Stock Exchange by 75 to 47 and 18 ended unchanged.

Crude oil for February delivery was up 0.99% or 0.55 to $56.36 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February rose 0.79% or 0.47 to hit $60.15 a barrel, while the February Gold Futures contract rose 0.64% or 28.05 to trade at $4,401.95 a troy ounce.

USD/DKK was unchanged 0.03% to 6.37, while EUR/DKK unchanged 0.02% to 7.47.

The US Dollar Index Futures was down 0.01% at 97.99.

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Walmart and 2 More American Icons Are About to Get New Leadership. Trust the Process. — Barrons.com

Dow Jones Newswires

By Andy Serwer

The year end affords us an opportunity to step back and assess the past and wonder about the days ahead. As a somewhat arbitrary demarcation, ringing in a new year sometimes lacks drama — though not this year. Heading into 2026, we will be witnessing a changing of the guard at what are arguably America's three most important companies. (Not you, OpenAI.) I'm referring to leadership changes at Walmart, Berkshire Hathaway, and Apple.

The moves at these companies aren't symmetric. Each is embarking on a distinct changeover path, but the common denominator of resetting is unmistakable and momentous. On Feb. 1, Doug McMillon, CEO of Walmart since Feb. 1, 2014, will be handing the reins to John Furner, president and CEO of Walmart U.S. (They have succession down to the day at Walmart!) Meanwhile, Warren Buffett, who has been running Berkshire Hathaway forever (actually only since 1965 — slightly shorter than forever) will be turning over his responsibilities to Greg Abel, currently vice chairman of noninsurance operations, on New Year's Day.

As for Apple's Tim Cook, who has been CEO since Aug. 24, 2011, he isn't going anywhere — yet. But with the announced departure of some key Cook deputies — Chief Operating Officer Jeff Williams, general counsel Kate Adams, and head of government affairs Lisa Jackson, part of a continuum in a multiyear switching out of 60-plus-year-old top executives, or as an insider calls it, "maintaining the magic" — the 14 1/2 -year Cook era at Apple looks to be winding down.

Quibble with me if you like, but I'd argue that under the leadership of McMillon, Buffett, and Cook, these three companies have redefined how to do chicken right. They are models of efficiency, supply chain, profitability, and talent nurturing. All three have outperformed the market during their CEO tenures.

There are a few connections among them, especially Berkshire's home-run investment in Apple, probably Buffett's best stock investment ever in dollar terms, generating some $100 billion in pretax profits and with tens of billions more still held in a roughly $35 billion investment. This is the case, even though one could argue that Berkshire sold much of its Apple stock too soon, missing a strong recent run-up.

Speaking of missing an opportunity, Buffett once owned Walmart but sold his stake beginning in 2015, in the early days of McMillon's tenure. This is ironic since Buffett has chastised himself for missing Walmart early on. Make that later on, too, Warren. Even Oracles can't be perfect, as Buffett so often tells us.

As for Walmart and Apple, yes, the former sells Apple products, but that distribution channel is small potatoes compared with Apple's own digital and physical stores and mobile carriers. Also note that Walmart is one of few national retailers that doesn't accept Apple Pay; it wants its customers to use Walmart Pay.

Now let's take a look at some numbers. Simply put, these three CEOs have been wealth-creation beasts. And it isn't just Buffett, who's actually not No. 1 by a long shot. That honor goes to Tim Cook, who, when he became CEO, presided over a company with a mere $350 billion in market capitalization. Today, it's $4.1 trillion — or some $3.75 trillion more. Yes, you can argue that much of this was selling products that Steve Jobs developed, but talk about taking an operation to a whole other level. As for Buffett, Berkshire is worth some $1.1 trillion today, which is, of course, all Warren. Now consider Walmart. When McMillion became CEO, Walmart's market cap was $242 billion, compared with $920 billion today, or almost 3.8 times bigger. In total, the three CEOs have generated some $5.5 trillion of value.

As for the prognosis for these companies, note that at each of these well-oiled machines, succession is considered mission critical. Walmart is so good at this that Wall Street just assumes Furner will succeed — though you never really know. As for Buffett, there is some anxiety, as to be expected, over how able Abel will be. Again, who knows, but remember, this is really Buffett's biggest call ever.

Picking a new CEO is "the most important decision that you make," Buffett said to me five years ago. "It isn't what their IQ is. And it isn't even necessarily the top [person] in a given type of managerial skill, if they're the kind that will leave you tomorrow. You really want somebody that is devoted to Berkshire."

For Cook, who turned 65 on Nov. 1, there's still time. The betting for now is that John Ternus, 50, senior vice president of hardware engineering, will ultimately lead Apple. "We believe Cook is a hall-of-fame CEO, and he will be CEO for at least the next two years," says the ever-colorfully attired Dan Ives of Wedbush Securities. Ives says that Cook will want to see through implementation of Apple's artificial-intelligence strategy.

It's also worth noting that Ternus, Abel, and Furner have been at their companies 25, 27, and 33 years, respectively. Talk about vetting.

Should you sell your Apple, Walmart, or Berkshire stock? Recall that some suggested as much when Tim Cook took over at Apple. Had you done that with, say, a $100,000 stake and invested it in the S&P 500 index instead, you would be looking at $1.4 million-plus opportunity loss. (Your Apple stock would be worth $2,040,270 today; your S&P 500 investment only $578,850.)

To paraphrase Coach Nick Saban: When it comes to these three American icons, it probably pays to trust the process.

Write to Andy Serwer at andy.serwer@barrons.com. Follow him on X and subscribe to his At Barron's podcast.

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

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BMO upgrades Merck, sees path to growth beyond Keytruda patent loss

Investing.com

Investing.com -- BMO Capital Markets upgraded Merck to Outperform, saying the drugmaker is building a portfolio that can sustain growth beyond the loss of exclusivity for its blockbuster cancer drug Keytruda later this decade.

The brokerage raised its price target to $130 per share, citing improving sentiment around Merck’s core products and confidence that the company can replace most of Keytruda’s peak sales by the mid-2030s.

BMO said investor sentiment has begun to turn after a long period of concern around Gardasil, particularly in China.

The firm noted that Merck posted a Gardasil sales beat in the third quarter of fiscal 2025, the first in more than a year, helping ease a key overhang on the stock.

Estimates for Gardasil sales in fiscal 2026 have already been cut sharply over the past two years, which BMO said has effectively reset expectations and could now allow for upside.

BMO pointed to several potential catalysts in 2026. These include clinical data from the Phase 2 CADENCE study of sotatercept in pulmonary hypertension, which the firm said could improve sentiment if results show meaningful gains in patient outcomes. Updates from HIV studies involving islatravir could also help position the drug as part of a weekly oral treatment regimen.

On the commercial side, BMO said it expects stronger performance from newer products such as Enflonsia, Reblozyl and Welireg.

It highlighted a wide gap between its own 2026 sales forecast for Enflonsia and current consensus estimates, arguing that prior success of similar therapies supports a higher revenue outlook.

While acknowledging that Keytruda’s loss of exclusivity in 2028 represents the largest patent cliff in biopharma, BMO said it is now confident Merck can replace about 90% of peak Keytruda sales over time through a mix of internal development and business development.

Even assuming valuation pressure during the patent transition, BMO said Merck shares still offer upside from current levels.

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VisionSys AI stock tumbles after announcing 1-for-50 reverse split

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Investing.com -- VisionSys AI Inc (NASDAQ:VSA) stock dropped 15.4% on Thursday after the company announced plans for a significant reverse stock split that will dramatically reduce its outstanding share count.

The artificial intelligence company revealed it will implement a 1-for-50 reverse share split of its ordinary shares and American Depositary Shares (ADSs), effective at market open on Monday, December 22, 2025. Following the split, VisionSys AI’s ADSs will continue trading on Nasdaq under the same "VSA" symbol but with a new CUSIP number.

The reverse split will reduce the company’s total outstanding ordinary shares from approximately 27.7 billion to 554.4 million. While the ratio of ADSs to Class A Ordinary Shares will remain unchanged at 250 underlying shares per ADS, the total number of ADSs will be reduced proportionately.

VisionSys AI noted that the split is expected to increase its ADS trading price by approximately 50 times its pre-split value, though the company cautioned it cannot guarantee the price will reflect this ratio or remain above pre-split levels.

No fractional shares will be issued in the reverse split process. For ADS holders, fractional entitlements will be aggregated and sold by Citibank, N.A., the depositary bank, with net proceeds distributed to affected shareholders.

The company’s board of directors approved the reverse split on December 12, 2025. Shareholders with holdings in book-entry form or brokerage accounts won’t need to take action regarding the split.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Norway stocks higher at close of trade; Oslo OBX up 0.03%

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Transportadora de Gas del Sur

Advanced Micro Devices

-17.31%

Nokia Oyj

+1.64%

Investing.com – Norway stocks were higher after the close on Thursday, as gains in the Healthcare Equipment & Services, Pharma Biotech & Life Sciences and Utilities sectors led shares higher.

At the close in Oslo, the Oslo OBX rose 0.03% to hit a new 1-month high.

The best performers of the session on the Oslo OBX were Kongsberg Gruppen ASA (OL:KOG), which rose 1.66% or 4.20 points to trade at 256.70 at the close. Meanwhile, Gjensidige Forsikring ASA (OL:GJFG) added 1.51% or 4.40 points to end at 296.00 and TGS NOPEC Geophysical Company ASA (OL:TGS) was up 1.47% or 1.25 points to 86.25 in late trade.

The worst performers of the session were Tomra Systems ASA (OL:TOM), which fell 3.12% or 4.30 points to trade at 133.40 at the close. Frontline Ltd (OL:FRO) declined 1.84% or 4.30 points to end at 229.00 and Hafnia Ltd (OL:HAFNI) was down 1.62% or 0.92 points to 55.70.

Falling stocks outnumbered advancing ones on the Oslo Stock Exchange by 134 to 123 and 25 ended unchanged.

Shares in Gjensidige Forsikring ASA (OL:GJFG) rose to all time highs; gaining 1.51% or 4.40 to 296.00.

Crude oil for February delivery was up 0.93% or 0.52 to $56.33 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February rose 0.74% or 0.44 to hit $60.12 a barrel, while the February Gold Futures contract fell 0.12% or 5.15 to trade at $4,368.75 a troy ounce.

EUR/NOK was down 0.47% to 11.92, while USD/NOK fell 0.37% to 10.16.

The US Dollar Index Futures was up 0.06% at 98.06.

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Israel stocks higher at close of trade; TA 35 up 0.73%

Investing.com

Enlight Renewable Energy

-4.51%

Advanced Micro Devices

-17.31%

Elbit Systems

-5.56%

Investing.com – Israel stocks were higher after the close on Thursday, as gains in the Oil & Gas, Insurance and Real Estate sectors led shares higher.

At the close in Tel Aviv, the TA 35 added 0.73% to hit a new all time high.

The best performers of the session on the TA 35 were Next Vision Stabilized Systems (TASE:NXSN), which rose 4.49% or 890.00 points to trade at 20,710.00 at the close. Meanwhile, OPC Energy Ltd (TASE:OPCE) added 4.20% or 283.00 points to end at 7,025.00 and Enlight Renewable Energy Ltd (TASE:ENLT) was up 3.45% or 440.00 points to 13,210.00 in late trade.

The worst performers of the session were Camtek Ltd (TASE:CAMT), which fell 3.62% or 1,250.00 points to trade at 33,290.00 at the close. Elbit Systems Ltd (TASE:ESLT) declined 1.14% or 2,020.00 points to end at 174,700.00 and Nova (TASE:NVMI) was down 0.87% or 890.00 points to 101,530.00.

Rising stocks outnumbered declining ones on the Tel Aviv Stock Exchange by 284 to 183 and 81 ended unchanged.

Shares in Next Vision Stabilized Systems (TASE:NXSN) rose to all time highs; gaining 4.49% or 890.00 to 20,710.00. Shares in OPC Energy Ltd (TASE:OPCE) rose to all time highs; rising 4.20% or 283.00 to 7,025.00.

USD/ILS was down 0.84% to 3.21, while EUR/ILS fell 0.93% to 3.76.

The US Dollar Index Futures was up 0.06% at 98.06.

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