Stock Movers: GSK Acquires Rapt Therapeutics, 3M Earnings, D.R. Horton Orders

Pharma Acquisition: GSK Buys Rapt Therapeutics

• 🤝 GSK has agreed to acquire Rapt Therapeutics (RAPT) for $2.2 billion, or $58 per share.
• 📈 This acquisition sent Rapt Therapeutics' stock up by approximately 63% from its Friday closing price.
• 💡 The deal includes a drug candidate designed to protect against food allergens, offering a less frequent injection schedule.
• 🚀 For GSK, this acquisition aims to bolster its revenue pipeline following the patent expiration of its top-selling HIV drug.

3M's Financial Performance and Outlook

• 📊 3M reported $6 billion in revenue, slightly below estimates, but earnings per share of $1.83 beat expectations.
• 🎯 The company issued guidance for 2026, projecting earnings between $8.50 to $8.70 per share, which may be slightly softer than analyst expectations.
• ⚡ 3M is focusing on streamlining operations and accelerating new product introductions, also benefiting from the data center construction boom.

D.R. Horton's Quarterly Results

• 🏠 Homebuilder D.R. Horton reported $6.9 billion in revenue and adjusted earnings per share of $2.30, both beating analyst estimates.
• 📉 However, the company missed estimates for new home orders, though this was offset by a higher number of closed new builds.
• 💰 D.R. Horton is maintaining its full-year guidance, expecting sales to reach up to $35 billion.

Other Market Movers

• 📺 Netflix is up 1% pre-market ahead of its earnings report, with the recent release of "Stranger Things" expected to impact results.
• 📰 There is ongoing activity regarding the potential bidding war for Warner Brothers, with a deadline for counter-bids from Paramount and Sky approaching.