Morgan Stanley

GE Aerospace Launches as Independent, Investment-Grade Public Company Following Completion of GE Vernova Spin-Off

Retrieved on: 
Tuesday, April 2, 2024
Air, Transport, Aerospace, Manufacturing, GE Aviation, Tony Emmott, Forward, Culture, Appendix, Growth, Learning, Risk, UBS, DLA, FLIGHT, Bank statement, Morgan Stanley, Piper, BNP Paribas, GE HealthCare, Gibson Dunn, Annual report, GAAP, DLA Piper, PJT Partners, General Electric, Economics

GE Aerospace (NYSE: GE) today announced its official launch as an independent public company defining the future of flight, following the completion of the GE Vernova spin-off.

Key Points: 
  • GE Aerospace (NYSE: GE) today announced its official launch as an independent public company defining the future of flight, following the completion of the GE Vernova spin-off.
  • GE Aerospace will trade on the New York Stock Exchange (NYSE) under the ticker “GE”.
  • ET, GE Aerospace and GE Vernova will ring the opening bell together at the NYSE.
  • GE Aerospace Chairman and CEO H. Lawrence Culp Jr., said, “With the successful launch of three independent, public companies now complete – today marks a historic final step in the multi-year transformation of GE.

Genmab to Broaden and Strengthen Oncology Portfolio with Acquisition of ProfoundBio

Retrieved on: 
Wednesday, April 3, 2024
Biotechnology, General Health, Health, Pharmaceutical, Oncology, Ovarian cancer, BofA Securities, PIN, U.S. FDA, Shearman, Webcast, Patient, Fast Track, Goldman Sachs, Morgan Stanley, LLP, Acquisition, Cancer, Spacecraft, Cooley LLP, DKK, Shearman & Sterling, ADC, USD, Law, Food, Pharmaceutical industry

Genmab A/S (Nasdaq: GMAB) and ProfoundBio, Inc. announced today that the companies have entered into a definitive agreement for Genmab to acquire ProfoundBio in an all-cash transaction.

Key Points: 
  • Genmab A/S (Nasdaq: GMAB) and ProfoundBio, Inc. announced today that the companies have entered into a definitive agreement for Genmab to acquire ProfoundBio in an all-cash transaction.
  • Genmab will acquire ProfoundBio for USD 1.8 billion in cash, payable at closing (subject to adjustment for ProfoundBio’s closing net debt and transaction expenses).
  • The transaction will further broaden Genmab’s mid- to late-stage clinical pipeline and strengthen and complement Genmab’s already validated suite of proprietary technology platforms.
  • The addition of Rina-S to Genmab’s portfolio will enable Genmab to deepen its presence in the gynecologic oncology space and establish a firm foundation in solid tumors.

Acorda Therapeutics and Merz Announce Signing of “Stalking Horse” Asset Purchase Agreement

Retrieved on: 
Monday, April 1, 2024
Health, Neurology, Other Health, General Health, Clinical Trials, Pharmaceutical, Biotechnology, SVB Securities, Bankruptcy, Neurotoxin, Multiple sclerosis, Patient, King & Spalding, Merz, Sale, Perella Weinberg Partners, LLP, Security (finance), United States bankruptcy court, Morgan Stanley, Ernst & Young, DSM-IV codes, Therapy, Acorda Therapeutics

Acorda Therapeutics, Inc. (Nasdaq: ACOR) (“Acorda” or “the Company”) today announced that it has entered into an asset purchase agreement with Merz Therapeutics to purchase substantially all of the assets of Acorda, including the rights to INBRIJA, AMPYRA, and FAMPYRA for $185 million.

Key Points: 
  • Acorda Therapeutics, Inc. (Nasdaq: ACOR) (“Acorda” or “the Company”) today announced that it has entered into an asset purchase agreement with Merz Therapeutics to purchase substantially all of the assets of Acorda, including the rights to INBRIJA, AMPYRA, and FAMPYRA for $185 million.
  • Merz Therapeutics, a leader in the field of neurotoxins, is a business of the global family-owned company Merz, headquartered in Frankfurt am Main, Germany.
  • The decision to file for Chapter 11 protection follows a lengthy strategic review during which the Company explored a wide range of strategic options.
  • Upon court approval, Acorda expects to minimize the impact of the bankruptcy process on its employees, customers, patients, and other key stakeholders.

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Retrieved on: 
Monday, April 1, 2024
Professional Services, Finance, Risk, Trustee, Morgan Stanley, Investment, Risk management

Investors should not draw any conclusions about a Fund’s investment performance from the amount of its distribution or from the terms of its managed distribution plan.

Key Points: 
  • Investors should not draw any conclusions about a Fund’s investment performance from the amount of its distribution or from the terms of its managed distribution plan.
  • A Fund’s Board of Trustees may amend or terminate the managed distribution plan at any time without prior notice to Fund shareholders.
  • Shareholders should not draw any conclusions about a Fund’s investment performance from the amount of any monthly distribution.
  • Eaton Vance is a part of Morgan Stanley Investment Management, the asset management division of Morgan Stanley.

E*TRADE from Morgan Stanley Releases Monthly Sector Rotation Study

Retrieved on: 
Monday, April 1, 2024
Banking, Professional Services, Finance, Multimedia, Morgan Stanley, E*TRADE

E*TRADE from Morgan Stanley today released the data from its monthly sector rotation study, based on the E*TRADE customer notional net percentage buy/sell behavior for stocks that comprise the S&P 500 sectors.

Key Points: 
  • E*TRADE from Morgan Stanley today released the data from its monthly sector rotation study, based on the E*TRADE customer notional net percentage buy/sell behavior for stocks that comprise the S&P 500 sectors.
  • This press release features multimedia.
  • View the full release here: https://www.businesswire.com/news/home/20240401041988/en/

Blueground Raises $45 Million Series D to Lead the Market for Furnished, Flexible Rentals for 30+ Day Stays

Retrieved on: 
Thursday, March 28, 2024
Commercial Building & Real Estate, Apps, Applications, Technology, Construction & Property, Venture Capital, Professional Services, Software, Internet, Other Construction & Property, Residential Building & Real Estate, Deutsche Bank, Growth, Entrepreneurship, SVB, LLLP, Morgan Stanley, City, Housing, Investment, HSBC, Silicon Valley Bank, Video game

Blueground , the largest global operator of furnished, flexible rentals for 30+ day stays, today announced that it has secured $45 million in Series D funding.

Key Points: 
  • Blueground , the largest global operator of furnished, flexible rentals for 30+ day stays, today announced that it has secured $45 million in Series D funding.
  • The capital will be used to accelerate the development of Blueground’s technology and new strategic initiatives, fueling the company’s continued growth.
  • Flexible lifestyles remain highly sought-after worldwide, catering to the needs of both individuals and corporate travelers in their professional and personal endeavors.
  • Blueground generated ~$2 million in booking value to date for the Partner Network partners since launching in Q3 2023.

AlbaCore Expands Investment Team with Two Senior Hires

Retrieved on: 
Wednesday, March 27, 2024
Finance, Business, Banking, Professional Services, Asset Management, Growth, Philosophy, Albacore, Bank, Research, Lisp (programming language), Société Générale, Senior, Morgan Stanley, Portfolio manager, BofA Securities, CQS, Management

European credit specialist, AlbaCore Capital Group (“AlbaCore”), is pleased to announce the appointment of Davide Chiesa as the firm’s Head of Research, and Sheharyar Malik as a Director in the Investment Team.

Key Points: 
  • European credit specialist, AlbaCore Capital Group (“AlbaCore”), is pleased to announce the appointment of Davide Chiesa as the firm’s Head of Research, and Sheharyar Malik as a Director in the Investment Team.
  • In a newly created role on the investment team, Davide will be responsible for leading AlbaCore’s expanding research function, helping to inform the firm’s investment processes.
  • Davide will lead a team of analysts who supports AlbaCore’s offering across private and opportunistic credit strategies as well as CLOs and structured credit.
  • They both bring extensive experience in European credit to their roles, helping bolster the senior ranks of the firm,” said Matthew Courey, President and COO, AlbaCore.

Gartner Announces Gartner Marketing Symposium/Xpo in Denver

Retrieved on: 
Wednesday, March 27, 2024
Digital Marketing, Social Media, Marketing, Artificial Intelligence, Data Management, Communications, Technology, Security, Social media, Travel, AI, Digital, Morgan Stanley, Gartner, CMOS

AI is turbocharging transformation, turning tech from an enabler powering an efficient marketing machine into a disruptor.

Key Points: 
  • AI is turbocharging transformation, turning tech from an enabler powering an efficient marketing machine into a disruptor.
  • Successful CMOs embrace their role as transformation leaders, enabling their teams to achieve greater effectiveness and efficiency.
  • At the Gartner Marketing Symposium/Xpo , CMOs and their teams will learn the insights they’ll need to create and lead a successful marketing strategy in this shifting landscape.
  • Audience and Topics: The conference is expected to feature 40+ Gartner experts and 125+ research-driven sessions, with an audience of CMOs, digital marketing leaders, customer experience and loyalty leaders, marketing operations and analytics leaders, and brand marketing leaders.

Morgan Stanley Wins Three 2024 Technology Awards in Generative AI, Fractional Shares, and Portfolio Risk Management

Retrieved on: 
Wednesday, March 27, 2024
Professional Services, Finance, State ownership, Personalization, Emerging technologies, Essential, Spinal muscular atrophies, Risk, Partnership, Data, BlackRock, AI, Separately managed account, Morgan Stanley Wealth Management, Morgan Stanley, Adviser, Russian National Wealth Fund, ETF, Cryptocurrency

Morgan Stanley (NYSE: MS) announced today that it has won three 2024 Celent Model Awards recognizing the Firm’s innovative use of technology.

Key Points: 
  • Morgan Stanley (NYSE: MS) announced today that it has won three 2024 Celent Model Awards recognizing the Firm’s innovative use of technology.
  • “Being recognized by Celent for innovation in three categories is a true honor,” said Jed Finn, Head of Morgan Stanley Wealth Management.
  • Celent’s Model Risk Manager award category recognizes best practices use of technology in financial risk management, operational risk management, cross risk, and financial crime.
  • Morgan Stanley’s Portfolio Risk Platform and the risk analytics integrated into their proprietary platform applications help its Financial Advisors leverage dynamic risk insights across thousands of risk factors.

Stevanato Group Announces Closing of Upsized Public Offering of Ordinary Shares and Exercise in Full of the Underwriters’ Option to Purchase Additional Ordinary Shares

Retrieved on: 
Tuesday, March 26, 2024
Medical Supplies, Health, Medical Devices, Other Health, General Health, Pharmaceutical, Biotechnology, Citigroup, BofA Securities, Exercise, Offering, Form, Telephone, Stevanato Group, William Blair & Company, Sale, Attention, Security (finance), Prospectus, Morgan Stanley, KeyBank, Varick Street, 2nd Floor

Stevanato Group sold 7,302,500 ordinary shares (the “Company Offering”), and Stevanato Holding S.r.l., an affiliate and major shareholder of the Company (the “Selling Shareholder”), sold 7,302,500 ordinary shares (the “Selling Shareholder Offering” and, together with the Company Offering, the “Offering”).

Key Points: 
  • Stevanato Group sold 7,302,500 ordinary shares (the “Company Offering”), and Stevanato Holding S.r.l., an affiliate and major shareholder of the Company (the “Selling Shareholder”), sold 7,302,500 ordinary shares (the “Selling Shareholder Offering” and, together with the Company Offering, the “Offering”).
  • The total gross proceeds from the Offering, before deducting underwriting discounts and commissions and offering expenses, were approximately $379.7 million, or approximately $189.8 million from each of the Company Offering and the Selling Shareholder Offering.
  • Stevanato Group will not receive any proceeds from the Selling Shareholder Offering.
  • Morgan Stanley and William Blair served as lead book-running managers and as representatives of the underwriters for the Offering.