Merck to Buy Terns; Pentagon Inks Deals to Boost Production; Chewy Shares Gain

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Merck (MRK) agreed to buy Terns Pharmaceuticals Inc. for $6.7 billion, giving the multinational company access to a promising new leukemia treatment as it faces the patent expiration of its bestselling cancer drug.

- The Pentagon has agreed with major defense contractors on a series of framework agreements meant to accelerate production of key missile systems that have seen heavy use during the initial phases of the US and Israeli war against Iran. Lockheed Martin and BAE Systems agreed with the Defense Department on plans to “quadruple the production of seekers for the Terminal High Altitude Area Defense (THAAD) interceptor,” according to a Pentagon announcement.

- Chewy (CHWY) shares rise after the online retailer of pet products gave a net sales forecast for the fiscal year 2027 that beat the average analyst estimate.

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