Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Johnson & Johnson (JNJ) announced the expansion to the partnership between its Janssen Pharmaceutical and the Biomedical Advanced Research and Development Authority, which is part of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services for the ongoing development of Janssen’s investigational COVID-19 vaccine candidate. Under the amendment, Janssen will commit approximately $604M and BARDA will commit approximately $454M to support the ongoing Phase 3 ENSEMBLE trial evaluating Janssen’s investigational COVID-19 vaccine candidate as a single-dose in up to 60,000 volunteers worldwide. 2. PNC Financial (PNC) is in talks to buy the U.S. arm of Spanish lender BBVA (BBVA), The Wall Street Journal’s Cara Lombardo and Liz Hoffman reported, citing people familiar with the matter. A deal, which would likely be valued at more than $10B, would create the nation’s fifth largest retail bank, with more than $550B of assets and branches up and down the eastern half of the country, the authors noted. 3. Investors have long viewed memory as a commodity and one can the consequences in the low multiple they have paid for Micron (MU), the biggest pure play bet, Eric Savitz wrote in this week’s edition of Barron’s. But the outlook for Micron is brightening – and the stock could double from here, the author contended. 4. Walmart (WMT), KKR (KKR) and Rakuten announced the signing of definitive agreements under which KKR will purchase a majority stake and a new Rakuten subsidiary will purchase a minority stake in Seiyu GK in a deal valuing the business at approximately $1.6B. Under the terms of the agreements, KKR will acquire a 65% stake in Seiyu, and Rakuten will acquire a 20% stake, through a newly created subsidiary focused on retailer digital transformation. Walmart will retain a 15% stake in Seiyu. 5. Target (TGT), SPPlus (SP), Wintrust Financial (WTFC), ACME United (ACU), Century Communities (CCS), AtlasAir Worldwide (AAWW) and Logitech (LOGI) saw positive mentions in this week’s edition of Barron’s.
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