Novartis puts $12B on the table

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 27 October 2025

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Avidity (RNA) stock surges on $12B Novartis (NVS) deal. (00:29) Bessent unveils Fed chair finalists before year-end decision. (01:21) HSBC faces $1.1B loss from Madoff fraud ruling, stock falls. (02:03)

Episode transcripts seekingalpha.com/wsb.

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Transcript

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0:00.0	Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.
0:08.0	We've made it to the final week in the month of October. Today is Monday, October 27th. Thanks so much for joining us today. I'm Julie Morgan.
0:17.5	Our top stories today, the final five in the race to replace Jerome Powell and a costly court
0:23.5	ruling for HSBC, and it all ties back to Bernie Madoff.
0:28.6	We'll get to those stories in a couple of minutes, but we begin with an update to a story we
0:33.2	told you about on Wall Street brunch with Kim Khan.
0:36.5	Avidity Biosciences is up 42% in pre-market action
0:40.8	after Novartis agreed to buy the biotechnology company and a deal valued at $12 billion.
0:47.4	Novartis will pay $72 a share in cash representing a premium of 46% over Avidity's closing price on Friday.
0:56.3	RBC Capital Markets analyst Luca EC praised the deal saying it is another bullish signal for
1:02.4	biotech. Dyn Theerapeutics is up 21% in pre-market trading, a Jeffreys analyst who rates
1:09.4	the company a buy, said Dyn is poised to benefit
1:12.5	from the deal as it signals Big Pharma's interest in novel RNA modalities for rare muscle
1:18.9	diseases. Treasury Secretary Scott Bessent has confirmed the names of five finalists to
1:25.5	succeed Federal Reserve Chair Jerome Powell, with the president expected to decide by the end of five finalists to succeed Federal Reserve Chair Jerome Powell, with the president
1:29.0	expected to decide by the end of the year. Bessent told reporters Monday on Air Force One that the
1:35.6	poll has narrowed to current Fed board members Christopher Waller and Michelle Bowman, former Fed Governor
1:41.9	Kevin Warsh, White House National Economic Council Director Kevin
1:46.2	Hassett, and Black Rock Executive Rick Ryder. According to a Bloomberg news report Bessent,
1:52.3	who is leading interviews for the position, said he's planning to do a second round of interviews
1:57.2	in hopes to present a good slate to President Trump after the Thanksgiving holiday.
2:03.4	HSBC is taking a $1.1 billion hit tied to the Bernie-made-off investment fraud case. The bank said
	...

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