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EARLY MOVERS - Loxo Oncology shares skyrocket on news of Eli Lilly acquisition; DXC Technology to buy Luxoft Holding

Also in the frame in pre-market is electric car titan Tesla and media group CBS Corp
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Another cancer-related deal was in the news after the Bristol-Myers, Celgene announcement last week

In pre-market Monday, drugs giant Eli Lilly And Co (NYSE:LLY) was in focus, with shares shedding almost 3% before the New York bell to $114.66.

It comes after the group revealed it would buy Loxo Oncology Inc (NASDAQ:LOXO) for about $8 billion in cash, giving it a portfolio of targeted medicines to treat cancers.

Loxo shares skyrocketed nearly 65% on the news to $231.15.

The offer price of $235 per share in cash represents a premium of about 68% to Loxo's Friday close.

Last year, regulators approved Loxo's first commercial medicine called Vitrakvi, which had been shown to be effective against a wide variety of cancers.

Last week, Bristol-Myers Squibb Co (NYSE:BMY) announced it was buying Celgene Corp (NASDAQ:CELG) to expand its cancer and immunotherapy offering.

DXC Technology (NYSE:DXC) and Luxoft Holding Inc (NYSE:LXFT) Monday announced that DXC would acquire Luxoft, which is a global-scale digital innovator, headquartered in Switzerland.

DXC shares added 4.68% to $60 each, while Luxoft Holding Inc surged 45% before the New York bell.

All issued and outstanding Luxoft Class A and Class B ordinary shares will receive $59.00 per share in cash, representing a total equity value of around $2 billion.

To electric car giant Tesla (NASDAQ:TSLA) and shares in the firm are up 1.83% to $323.50 in pre-market. On Friday, shares closed nearly 6% higher.

Reportedly, Tesla has now officially begun building its Gigafactory in Shanghai Monday, with CEO Musk breaking ground at the new plant.

Also in the news, CBS News said Susan Zirinsky, a senior executive producer, will become president from March this year as David Rhodes is stepping down.

Rhodes will remain at CBS until the beginning of March, when he will become a senior adviser to parent company CBS Corp (NYSE:CBS). CBS Corp shares closed 2.25% higher on Friday at $47.17.


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