- Wall Street finished lower on Friday, weighed down by Big Tech as investors worried about the Omicron coronavirus variant and digested the Federal Reserve's decision to end its pandemic-era stimulus faster.All three main U.S. stock indexes ended with a decline for the week after the Fed on Wednesday signaled three quarter-percentage-point interest rate hikes by the end of 2022 to combat surging inflation.Nvidia dropped 2.1% and Alphabet lost 1.9%, both weighing on the S&P 500 and Nasdaq.The S
Hey Tigers! Do you notice Pfizer's new play? Pfizer announced its acquisition of Arena Pharmaceuticals today in a $6.7 billion deal for the company’s research on inflammatory conditions affecting the stomach and intestine. Pfizer will pay Arena $100/share in cash. Shares of Arena stock nearly doubled yesterday as the company pursues treatments for ulcerative colitis and Crohn’s disease, as well as other dermatological, gastrointestinal, and cardiac conditions — Arena’s etrasimod drug for ulcerative colitis/Crohn’s is currently in late-stage trials. The acquisition’s timing is no coincidence as Pfizer also investigates treatments for gastrointestinal conditions. Pfizer is on a roll, lately. In addition to the o