RayzeBio, Gracell, Intel, NIO, Manchester United, and More Stock Market Movers

RayzeBio,
the radiopharmaceutical therapeutics company, was rising 97% to $60.28 after reaching an agreement to be acquired by
Bristol Myers Squibb
for $62.50 a share in cash. The deal was valued at $4.1 billion.
RayzeBio
closed Friday at $30.57. Bristol Myers shares were up slightly.

U.S.-listed shares of
Gracell Biotechnologies
surged 60% to $9.88 after the Shanghai-based biopharmaceutical company reached an agreement to be acquired by
AstraZeneca
in a transaction valued at up $1.2 billion. Gracell shareholders will receive $2 ordinary share (equivalent to $10 per American depositary share) in cash, plus an additional share-purchase contingent. Astrazeneca was down in premarket trading.

Synopsys
is in talks to acquire
Ansys,
The Wall Street Journal reported Friday, in a deal that would create a design-software giant. An acquisition of Ansys could be struck early in 2024, the Journal reported, citing people familiar with the matter.
Ansys
surged 18% on Friday as reports about the acquisition began to surface. The stock rose an additional 0.6% in premarket trading.
Synopsys
was rising 1.6% in premarket trading.

Intel was up 2.5% after a report from Bloomberg said the chip maker confirmed it would invest $25 billion in Israel to expand its wafer fabrication site after receiving $3.2 billion from the country’s government.

U.S.-listed shares of
NIO
were rising 3.9% after the Chinese electric-vehicle maker over the weekend unveiled the ET9, a four-seat executive sedan. The starting price for the car is $112,780. Deliveries of the sedan won’t begin until early 2025.

Manchester United
was rising 4.6% in premarket trading to $20.76 after British billionaire Jim Ratcliffe agreed to buy a minority stake in the professional soccer club. Ratcliffe will acquire 25% of
Manchester United’s
Class B shares and up to 25% of the club’s Class A shares and provide an additional $300 million for future investment into soccer stadium Old Trafford, Manchester United said in a statement.

Southwest Airlines
canceled hundreds of flights Sunday and more than 100 Monday, blaming dense fog at Chicago’s Midway International Airport that forced flight diversions and delays. The carrier scrubbed far more flights last year when a snowstorm disrupted travel, leading to chaos over the holiday period. Last week, Southwest was fined $140 million by Department of Transportation for the booking breakdown that happened over the holidays in 2022. The stock was declining 0.2%.

United Parcel Service
was downgraded to Neutral from Outperform with a $155 price target at Daiwa Capital. The stock fell 0.5% to $157.51.

Write to Joe Woelfel at joseph.woelfel@barrons.com