Up:

Cigna Shares Surge on Upgrade and Share Repurchase Program

Cigna's stock experienced a significant rise, nearly 17%, after Jefferies upgraded the stock from hold to buy and increased its price target to $341 from $335. The upgrade came following Cigna's reaffirmation of its 2023 and 2024 adjusted earnings per share guidance. Additionally, the company's board approved a substantial $10 billion increase to its share repurchase program. Reports also indicated that Cigna withdrew from merger discussions with Humana due to disagreements over financial terms, which may have contributed to the stock's ascent.

Macy's shares rose after a $5.8 billion buyout bid

An investor group consisting of Arkhouse Management and Brigade Capital made a $5.8 billion offer to delist the Macy's department store chain. Shares climbed 19%.

GlobalFoundries Names John Hollister as CFO
GlobalFoundries announced the appointment of John Hollister as its new Chief Financial Officer, effective February 2024. Hollister, a semiconductor industry veteran, will be joining from Silicon Laboratories, where he served as CFO for over a decade. The move is part of GlobalFoundries' ongoing efforts to strengthen its leadership team and financial operations amidst the dynamic semiconductor industry landscape. The group's shares gained 5.8%.

Down:

CRISPR Therapeutics' Stock Movement Amidst Analyst Ratings and FDA Approval
CRISPR Therapeutics AG fell 10% despite a series of analyst rating updates and the U.S. Food and Drug Administration (FDA) approval of CASGEVY, a CRISPR/Cas9 genome-edited cell therapy, for the treatment of sickle cell disease. The stock's movement might reflect a complex mix of market expectations, the potential commercial success of the new treatment, and broader market dynamics.

Endeavor Energy Explores Sale Valued Up to $30 Billion
Endeavor Energy Partners is exploring a sale that could value the company, a significant privately-held oil and gas producer in the Permian Basin, between $25 billion and $30 billion. The decision to sell comes as the company's founder, Autry Stephens, aims to capitalize on the current wave of mega-deals in the sector. JPMorgan Chase has been tasked with preparing to launch a sale process for Endeavor in the first quarter of 2024. The potential sale highlights the industry's consolidation trend as producers seek to increase scale and secure the best acreage. The share fell 6.3%.