PHOTOS: Denver Nuggets host Miami Heat for NBA Finals Game 1

The No. 1-seeded Denver Nuggets made their first-ever appearance in the NBA Finals Thursday, June 1, 2023, at Ball Arena in Denver. The Nuggets hosted the winners of the Eastern Conference, the Miami Heat, and won 104-93 after a commanding performance.

Read more about how the Nuggets seized Game 1 of NBA Finals behind Nikola Jokic’s triple-double.

Dechra Pharma Agrees To Be Acquired By EQT's Freya Bidco For 3,875p/share In Cash

Dechra Pharmaceuticals Plc. (DPH.L) Friday said it reached agreement to be acquired by Freya Bidco Limited for 3,875 pence per share in cash. The deal values Dechra at approximately 4.46 billion pounds, and implies an enterprise value of 4.88 billion pounds.

Dechra and Freya Bidco, a newly formed company to be indirectly owned by EQT Fund Management S.à r.l., and Luxinva S.A., which is a unit of ADIA, have agreed on the terms and conditions of a recommended cash acquisition.

The acquisition price per Dechra share represents a premium of approximately 44 percent to the Closing Price of 2,690 pence per Dechra Share on April 12, being the last Business Day before the commencement of the Offer Period.

It is intended that the acquisition will be implemented by way of a court-sanctioned scheme of arrangement.

The Dechra Directors consider the terms to be fair and reasonable, and intend to recommend unanimously that Shareholders vote in favour of the Scheme at the Court Meeting and the resolution to be proposed at the General Meeting .

The acquisition is currently expected to complete towards the end of 2023 or early 2024, subject to the satisfaction or waiver of the conditions.

Pre-market Movers: ELEV, MAX, SDA, MRVL, BMR…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 07.35 A.M. ET).

In the Green

Elevation Oncology, Inc. (ELEV) is up over 32% at $3.98.
MediaAlpha, Inc. (MAX) is up over 25% at $9.52.
Marvell Technology, Inc. (MRVL) is up over 19% at $58.87.
Arcus Biosciences, Inc. (RCUS) is up over 14% at $20.00.
PDD Holdings Inc. (PDD) is up over 13% at $68.30.
The Gap, Inc. (GPS) is up over 11% at $8.30.
Landos Biopharma, Inc. (LABP) is up over 10% at $3.44.
Workday, Inc. (WDAY) is up over 9% at $214.79.
Big Lots, Inc. (BIG) is up over 8% at $6.60.
ReShape Lifesciences Inc. (RSLS) is up over 6% at $2.63.

In the Red

SunCar Technology Group Inc. (SDA) is down over 21% at $11.80.
Beamr Imaging Ltd. (BMR) is down over 18% at $4.02.
LiqTech International, Inc. (LIQT) is down over 11% at $2.99.
TScan Therapeutics, Inc. (TCRX) is down over 10% at $2.17.
X Financial (XYF) is down over 10% at $3.18.
Ulta Beauty, Inc. (ULTA) is down over 8% at $443.03.
SEALSQ Corp (LAES) is down over 7% at $13.41.
Tingo Group, Inc. (TIO) is down over 7% at $3.50.
Hibbett, Inc. (HIBB) is down over 6% at $41.50.
Team, Inc. (TISI) is down over 5% at $6.65.

Oil Extends Rally As US Senate Clears Debt Ceiling Bill

Oil prices climbed on Friday to extend the previous session’s rally as traders look ahead to the oil producer cartel’s meeting on Sunday.

A weaker dollar buoyed prices after the U.S. Senate approved compromise, bipartisan legislation to lift the debt ceiling by a bipartisan 63-36 vote.

Benchmark Brent crude futures jumped 1.6 percent to $75.48 a barrel, while WTI crude futures were up 1.7 percent at $71.26.

OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting on Sunday after Saudi Arabian and Russian ministers offered mixed signals on plans to trim production.

The U.S. debt ceiling bill will now be sent to President Joe Biden and will become law after his signature. The bill is likely to be approved before the June 5 deadline.

The dollar extended slide after Philadelphia Federal Reserve President Patrick Harker said the Fed should probably skip raising interest rate at its next policy meeting.

Focus now shifts to the monthly U.S. jobs report due later in the day, which could impact the outlook for interest rates.

Economists expect employment to increase by 190,000 jobs in May after an increase of 253,000 jobs in April. The unemployment rate is expected to inch up to 3.5 percent from 3.4 percent.

Modi @ 9: Markets return in line with long-term trend

Improvement in financial savings channelised massive inflows into the equities market through the mutual fund route.

The benchmark Sensex has risen 159 per cent since May 15, 2014, a day before the election results were announced, till May 24, 2023.

Only the Nasdaq composite, which rose 207 per cent, has bettered Sensex’s performance among major equity benchmarks.

Improvement in financial savings channelised massive inflows into the equities market through the mutual fund route.

In terms of regulation, the Securities Laws Amendment Act 2014 endowed Sebi with enhanced powers, including search and seizure, attachment and recovery, authority to call for information, and powers of disgorgement.

Modi @ 9: Markets return in line with long-term trend

Improvement in financial savings channelised massive inflows into the equities market through the mutual fund route.

The benchmark Sensex has risen 159 per cent since May 15, 2014, a day before the election results were announced, till May 24, 2023.

Only the Nasdaq composite, which rose 207 per cent, has bettered Sensex’s performance among major equity benchmarks.

Improvement in financial savings channelised massive inflows into the equities market through the mutual fund route.

In terms of regulation, the Securities Laws Amendment Act 2014 endowed Sebi with enhanced powers, including search and seizure, attachment and recovery, authority to call for information, and powers of disgorgement.