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LATE MOVERS: DowDuPont, Caterpillar lead blue chips on China tariffs delay

Also on the move are General Electric, Danaher Corp , Kraft Heinz, Roche Holding and Spark Therapeutics Inc
China flag illustration
President Donald Trump said he would delay a planned increase on China good tariffs

DowDuPont Inc and Caterpillar Inc were the best performers among the blue chips after President Donald Trump said he would delay a planned increase in tariffs on Chinese goods.

Shares of DowDuPont (NYSE:DWDP) advanced 2% to $56.08 while Caterpillar (NYSE:CAT) was up 2% to $141.41.

Roche Holding AG, the Swiss pharma giant, said it would buy Spark Therapeutics Inc (NASDAQ:ONCE) in an eye-watering $4.3 billion deal. It comes as Roche is expanding its hemophilia portfolio and trying to keep up with new trends in gene therapy. Spark has SPK-8011 in the clinic for hemophilia A and is expected to start Phase 3 trials in 2019. It is also working on a therapy for hemophilia B. Roche already sells Hemlibra for hemophilia A, helping to stop bleeding in patients with the life-threatening genetic disorder.

Spark more than doubled to $113.48 while Roche (SWX:ROG) dipped 0.3% to 276.40 Swiss francs .

General Electric Company (NYSE:GE) shares climbed as the conglomerate revealed it is to sell its biopharma business to Danaher Corp (NYSE:DHR) for $21.4 billion in cash. Danaher told investors it expects to finance the deal with $3 billion from an equity offering, cash on hand and the issuance of debt. GE Chief Executive Lawrence Culp said the deal showed that the company was executing on its strategy by "taking thoughtful and deliberate action" to reduce leverage and strengthen the balance sheet.

GE surged 6.4% to $10.82 while Danaher added 8.4% to $123.15.

Kraft Heinz Co (NASDAQ:KHC) shares slipped, having tanked more than 27% on Friday after it posted disappointing fourth-quarter earnings. The latest news is that the food giant has tapped Credit Suisse to review options for its Maxwell House coffee business, which could include a potential sale.

Kraft Heinz shares shed 2.1% to $34.23.

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