24H|Merus Surges 19%; Chinese ADRs Jump With Li Auto up 7%, Alibaba up 3%; Wolfspeed Drops Another 3%

Tiger Newspress
Sep 29

Denmark’s Genmab A/S is in advanced talks to acquire Merus NV, a Dutch drugmaker that’s developing a treatment for cancer of the head and neck, according to people with knowledge of the matter, Bloomberg reported. US-listed Merus shares surged 19.1% in overnight trading.

Some Chinese ADRs jumped in overnight trading. Li Auto rose 7%; Alibaba rose 3%; Bilibili, NIO, and XPeng rose 2%; Trip.com, NetEase, JD.com, Baidu, and PDD Holdings rose 1%.

Wolfspeed is pushing forward with corporate restructuring while navigating bankruptcy court. The semiconductor company announced plans to convert from North Carolina to Delaware incorporation by September 29, 2025. The shares plunged 34.6% on Friday, and dropped another 3.3% in overnight trading.

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