Cidara develops drugs to prevent influenza in individuals at higher risk of complications. Merck has been seeking deals to bolster future revenue as its patent for Keytruda ends in 2028, MarketWatch said. Keytruda accounted for $30 billion in revenue in 2024.

Major U.S. stock indexes finished mostly lower Friday, with the S&P 500 giving up gains as the closing bell neared. Investors are still missing key economic reports from the government despite its reopening earlier this week.

U.S. stock futures declined on Friday after Thursday’s sharp sell-off. Futures of major benchmark indices were lower. This came despite the government reopening, as the Donald Trump administration stated that two of the most vital inputs for the Federal Reserve wouldn’t be released.

The Dow Jones Industrial Average slipped Thursday, pulling back from a record high notched in the previous session on news of the U.S. government reopening. The Nasdaq composite and the S&P 500 suffered deeper losses,

Stocks are up and down again to end an up-and-down week ahead of big earnings announcements and the eventual return of regular economic data flow.

US stock futures dipped Wednesday night amid a market rotation, following the Dow Jones Industrial Average's surge to new highs. Earlier, optimism about ending the government shutdown and a strong earnings outlook from AMD boosted Wall Street.

Amazon shares moved up 0.7%, on pace to extend a winning streak to four sessions. IBM stock gained 1.6%, nearing a new high. And Nike shares rose nearly 2%, looking to add to Tuesday's near-4% gain. On the downside, Coca-Cola KO shares lost 0.5% in morning trading. Shares are trying to climb the right side of a flat base.