Eli Lilly aims to announce roughly one $1 billion to $5 billion deal every quarter in 2020, its chief financial officer told Reuters, as the U.S. drugmaker looks to build up its pipeline of future products. A box of the drug trulicity, made by Eli Lilly Pharmaceutical, sits on a counter at a pharmacy in Provo, Utah, January 9, 2020. “We are looking at Dermira-like opportunities targeting assets in the $1 billion to $5 billion range,” Smiley said. In 2018 and 2019, it announced several deals for

UBS is bullish on Snap’s advertising business and bearish on Twitter’s, citing the social media company decision to ditch political ads in an election year. The firm downgraded shares of Twitter to neutral from buy and lowered its price target to $35 per share from $37. UBS upgraded shares of Snap to buy from neutral and hiked its price target to $24 per share from $16.

Adam Jeffery | CNBCMorgan Stanley and Nomura analysts on Friday raised their price targets for Apple stock as the tech giant’s shares continue to surge. However, the latter cautioned that inflated iPhone 12 expectations “may make the music stop” and questioned market enthusiasm about a “5G supercycle.” In analyst notes published early on Friday, Morgan Stanley increased its price target for Apple from $296 per share to $368 per share while Nomura lifted its projection from $225 per share to $280

Sundar Pichai, chief executive officer at Google LLC, speaks during the Google Cloud Next ’19 event in San Francisco, California, U.S., on Tuesday, April 9, 2019. UBS raised its price target for Google-parent company Alphabet, a day after the technology giant surpassed $1 trillion in market capitalization. That would see Alphabet gain ground toward becoming the most valuable U.S. company, as it would near the market cap’s of Apple ($1.38 trillion) and Microsoft ($1.27 trillion). UBS analyst Eric

Former NBC Cable president Tom Rogers on Comcast’s streaming service PeacockComcast unveiled details of its streamings service called Peacock. The service hopes to stand out in the crowded field by offering a free ad-supported service. Tom Rogers, executive chairman of WinView and former CEO of TiVo and former NBC Cable president, joins “Squawk Box” to discuss.

Regions Financial (RF) – The bank reported quarterly profit of 38 cents per share, a penny a share below estimates. Schlumberger (SLB) – The oilfield services company came in 2 cents a share above estimates, with quarterly earnings of 39 cents per share. CSX (CSX) – CSX reported quarterly earnings of 99 cents per share, 3 cents a share above estimates. Progress Software (PRGS) – The business software company reported quarterly earnings of 79 cents per share, beating forecasts by 4 cents a share.

Democratic presidential candidate Joe Biden wants to get rid of the legal protection that has shielded social media companies including Facebook from liability for users’ posts. But revoking the clause in its entirety would have major implications for tech platforms and may still fail to produce some of the desired outcomes. “Section 230 obviously benefits not just Facebook,” Facebook spokesperson Andy Stone told CNBC. Stone also pointed to a Facebook executive’s comments on the subject at a hea

New York restaurant with a sign in the shop window: ‘No Booze Sold Here – Booze Hounds Please Stay Out.’ Prohibition, which began 100 years ago Friday, didn’t just put the squeeze on the booze industry. The stock market crash of 1929, which triggered the country’s worst economic slump, proved to further test Prohibition with nearly half of the nation’s banks failing and some 15 million Americans unemployed. Theater revenues declined rather than increase, and few of the other economic benefits th

You may already be planning to collect Social Security in retirement, but did you know that if you wait a few years to claim those benefits, you can nearly double the size of your monthly check? Benefits are based on your income, the year you were born and the age you decide to start taking money out. So timing is key. You are first eligible to begin receiving your benefits at age 62, but waiting until 70 could translate to tens of thousands of dollars a year in your pocket when you need it most

Anti-abortion rights group Susan B. Anthony List launched on Friday a $52 million effort to support President Donald Trump’s re-election bid, a day after Planned Parenthood pledged $45 million to support candidates in favor of abortion rights in 2020. The $52 million effort from SBA could boost Trump’s outreach to anti-abortion rights voters. “Democratic contenders for president are lining up to support abortion on demand, and even infanticide, and declaring war on even the most modest pro-life

Manufacturers are set to spend $26.2 billion on internal and external training initiatives for new and existing employees in 2020 to combat the shortage of available workers, according to the Manufacturing Institute. Nearly 70% of manufacturers said they are creating or expanding training programs for their workforce. Three-quarters of respondents said upskilling workers helped to improve productivity, promotion opportunities and morale. 1 challenge for manufacturers for the past nine quarters,

Dallas Mavericks owner Mark Cuban shakes hands with Luka Doncic (77) after the 117-110 win over the San Antonio Spurs in an NBA basketball game Monday, Nov. 18, 2019, in Dallas. The Dallas Mavericks on Friday finalized their first jersey sponsorship, agreeing to a multiyear deal with private mobile banking service Chime. According to one National Basketball Association official, the league’s patch sponsorships range from $2 million to $20 million, depending on market size. The Los Angeles Lakers

Long-time bull Jeremy Siegel believes the Dow could hit the 30,000 milestone this month. With just 10 trading days left in January, the Wharton Finance professor is warning investors Dow 30,000 would likely be the breaking point for the record rally. “It’s going up a little too far, too fast,” he told CNBC’s “Trading Nation” on Thursday. You have to have earnings follow in a meaningful way,” Siegel said. Siegel, who accurately predicted market milestones including Dow 20,000 and Dow 25,000, spec

President Donald Trump’s impeachment defense team will include Ken Starr, whose investigation led to the impeachment of President Bill Clinton, and Harvard law professor Alan Dershowitz, whose clients have included notorious pedophile Jeffrey Epstein and O.J. In addition to Starr and Dershowitz, the lawyer Robert Ray is expected to be on Trump’s impeachment defense team. Another lawyer on the team will be former Florida attorney general Pam Bondi, CNBC has learned. White House Counsel Pat Cipoll

Apple CEO Tim Cook speaks during an announcement of new products at the Apple Worldwide Developers Conference Monday, June 4, 2018, in San Jose, Calif. Here are the biggest calls on Wall Street on Friday:UBS said in its downgrade that Twitter’s ongoing investments into safety, security, and advertising technology could be an earnings headwind for 2020. “As we enter 2020, we see TWTR at a bit of a crossroads – we con’t to hear from ad industry contacts that 2020 should be a year where TWTR’s plat

The e-commerce giant currently has a market cap of $931 billion, but analysts on Wall Street are betting Amazon will be back in the club soon. Apple has a market value of $1.38 trillion, Microsoft has a market value of $1.27 trillion and the group’s newest member, Alphabet, has a market value around $1.0 trillion. There’s an exclusive club on Wall Street and it might let Amazon back in this year. This means analysts on Wall Street expect Amazon’s market value to reach about $1.08 trillion by yea

Hedge fund manager Stanley Druckenmiller said Friday he agrees with fellow billionaire investor David Tepper’s optimism on the market and said he, too, is still “riding the horse.” “I revealed a very bullish posture intermediate term since October when [Fed Chairman Jerome] Powell guaranteed he would not rescind the insurance cuts,” Druckenmiller said in an email to CNBC’s Joe Kernen. “So I am still ‘riding the horse’ and bullish immediate term,” echoing a phrase used by Tepper in an earlier ema

He estimates the total cost of the grounding could reach $20 billion — excluding any settlements from lawsuits from crash victims’ families — if the planes return by June or July. Epstein estimates that about 40% of Boeing’s profits last year came from the Max. That’s assuming the planes return to service in April, she said. Even the planned pause in production won’t stop the cash drain and will cost Boeing $1 billion a month, estimates J.P. Morgan. Suppliers are walking a tightrope with the 737

Housing starts jumped 16.9% to a seasonally adjusted annual rate of 1.608 million units last month, the highest level since December 2006. Economists polled by Reuters had forecast housing starts would increase to a pace of 1.375 million units in December. Housing starts soared 40.8% on a year-on-year basis in December. An estimated 1.290 million housing units were started in 2019, up 3.2% compared to 2018. Single-family housing starts rose in the Midwest and the populous South.

David Tepper, billionaire founder of Appaloosa Management, said Friday he still likes this bull market, which is the longest on record. “I love riding a horse that’s running,” Tepper told CNBC’s Joe Kernen in an exclusive email. The current bull market started in March 2009. However, there are signs the bull market may be a bit long in the tooth. Tepper told Kernen that “at some point, the market will get to a level that I will slow down that horse and eventually get off.”