Stock Movers: Intel Declines, Dynavax Rallies on Acquisition, Nike Ticks Higher

Intel's Production Setback

• 📉 Intel (INTC) shares saw a decline of up to 3% following reports that Nvidia halted testing of Intel's 18A production process for its chips.
• 💡 Intel's 18A technology, developed at its new Arizona factory, is positioned as the most advanced chip production technology in the US, aiming to bolster American leadership against global leader Taiwan Semiconductor Manufacturing.
• ⚠️ The reasons for Nvidia's withdrawal from testing were not disclosed, and Intel stated its 18A technology is progressing well.

Dynavax Acquisition Boosts Vaccine Business

• 🚀 Dynavax Technologies (DVAX) experienced a significant rally, with shares soaring up to 39%, after Sanofi agreed to acquire the company for approximately $2.2 billion.
• 💉 This acquisition aims to expand Sanofi's vaccine business, adding Dynavax's hepatitis B vaccine and an experimental shingles shot to its portfolio.
• 💰 The deal provides Sanofi with alternative revenue streams as its top-selling drug, Dupixent, faces a patent cliff.
• ⚠️ The acquisition news followed shortly after the US FDA rejected Sanofi's experimental multiple sclerosis drug, tolebrutinib.

Tim Cook's Nike Investment

• 📈 Nike (NKE) shares moved higher after a filing revealed that Apple CEO Tim Cook purchased $2.95 million worth of Nike shares on December 22nd.
• 👨‍💼 Cook, who has been Nike's lead independent director since 2005, bought 50,000 Class B common stock shares.
• 📉 This investment comes after Nike shares dropped 11% on Friday due to warnings of sales declines, weakness in China, and issues with its Converse brand.

Other Notable Stock Movements

• 🛰️ Space Mobile (ESTS) shares rose as much as 7% after launching its largest satellite from India, aiming to compete with Elon Musk's SpaceX in providing space-based connectivity to mobile phones.
• 🤖 UiPath (PATH), an application software maker, saw its shares jump about 8% as it is set to replace Senovis Financial in the S&P Midcap 400 index.