Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. In recent weeks, Apple (AAPL) has accelerated plans to shift some of its production outside China, long the dominant country in the supply chain that built the world’s most valuable company, The Wall Street Journal’s Yang Jie and Aaron Tilley report, citing people familiar with the matter. It is telling suppliers to plan more actively for assembling Apple products elsewhere in Asia, particularly India and Vietnam, sources say, and looking to reduce dependence on Taiwanese assemblers led by Foxconn (HNHPF). 2. Johnson & Johnson (JNJ) said it doesn’t intend to make an offer for Horizon Therapeutics (HZNP), days after the developer of medicines for rare autoimmune and inflammatory diseases revealed it was in talks with the company, Bloomberg’s Susanne Barton reports. Janssen Global Services, J&J’s pharmaceutical division, didn’t provide a reason why it isn’t planning on proceeding with an offer, the author notes. 3. AbbVie’s (ABBV) blockbuster drug Humira faces patent expirations, but there’s a lot more to it than the immunosuppressive, Teresa Rivas writes in this week’s edition of Barron’s. The company has profitable products that have begun to fill the gap left by Humira’s decline. Investors who preferred to wait out the transition from Humira may have erred-AbbVie stock is up by more than 19%, to a recent $162, so far in 2022. Moreover, the stock looks cheap and has a handsome dividend yield. It’s worth owning-now, the author argues. 4. Marvel and Disney’s (DIS) “Black Panther: Wakanda Forever” won this weekend’s domestic box office with an estimated $17.6M from 3,855 locations for a domestic tally of $394M. Overseas, the movie earned another $20.2M for a foreign cume of $339M and $733M globally. 5. Boot Barn (BOOT), Ceridian HCM Holding (CDAY), HubSpot (HUBS), Magnolia Oil & Gas (MGY), Saia (SAIA), SiteOne Landscape Supply (SITE), Stelco Holdings (STZHF), Tapestry (TPR), and Entain (GMVHF) saw a positive mention in this week’s edition of Barron’s.
next post