Novartis to Buy MorphoSys for $2.9 Billion; Deal Seen Closing in 1H

Novartis said the acquisition expands and complements its pipeline in oncology. 


 
Virgin Galactic Reports Flight Issue to FAA

Company says an alignment pin detached during its most recent spaceflight, but that it didn't pose a safety risk to the crew on board. 


 
Kroger CFO Gary Millerchip Steps Down

Kroger said longtime executive and chief financial officer Gary Millerchip has stepped down to join another publicly traded company. 


 
Palantir's stock surges nearly 20% as company rides AI wave to upbeat earnings, outlook

The company called out 'unrelenting' demand for large-language models. 


 
RTX Reports SEC Investigation Linked to Engine Recall

The defense contractor and aerospace company is under investigation by U.S. regulators related to its recall of hundreds of Pratt & Whitney engines. 


 
Natura &Co to Consider Separating Avon Brand

Natura &Co will consider separating its Natura business from the Avon brand, creating two separate publicly traded beauty companies. 


 
Microchip Technology Reducing Executive Salaries

The move comes "in connection with other expense reduction actions being taken by the management team," the company said. 


 
J&J Accused of Mismanaging Its Employees' Drug Benefits

The novel lawsuit by a J&J worker alleges employees overpaid for some drugs. 


 
Cano Health Files for Bankruptcy to Cut Debt, Could Hand Control to Lenders

The physician group and medical-center operator says challenges have included higher interest costs and unprofitable acquisitions. 


 
Gap Taps Fashion Designer Zac Posen as Creative Director

The retailer is trying to reignite creativity after years of slumping sales.


(END) Dow Jones Newswires

02-05-24 1915ET