INDIANAPOLIS (WISH) — Here’s a look at Tuesday’s business headlines.
Eli Lilly & Co.
Foghorn Therapeutics soared 55% as it reached a deal with Eli Lilly & Co. to develop cancer treatments.
Foghorn is small but has a gene traffic control platform that can help with discovering which cancer treatments will be successful.
The clinical-stage Biotech could reap as much as $1.3 billion from a new research and development pact with a heavy-hitting partner.
Hard Rock
MGM is selling the operations of Vegas casino Mirage for $1.1 billion.
The deal is expected to close in the second half of 2022, but still has to go through all of the regulatory issues.
As the new operators, Hard Rock announced plans to build a guitar-shaped hotel and rename it Hard Rock Las Vegas.
MGM Resorts said it will retain the Mirage name and brand and license it to Hard Rock.
Shopping
The head of the nation’s second-largest bank said consumers are spending “at a faster rate” than he’s ever seen.
Bank of America CEO Brian Moynihan says spending on the bank’s debit and credit cards has surged as the economy recovered from the recession.
Target
Target recalled “Letters to Santa” mailboxes due to laceration risk.
Over 170,000 mailboxes sold at Target stores and online are being recalled.
The recalled mailboxes were sold at Target stores nationwide and through its website from Oct. 2021 to November 2021.
© 2021 Circle City Broadcasting I, LLC. | All Rights Reserved.