Why Xencor Inc's Shares Are Skyrocketing Today and other top stories.

• Why Xencor Inc's Shares Are Skyrocketing Today

  

  Image source: Getty Images. What: Shares of Xencor (NASDAQ:XNCR), a clinical-stage biopharmaceutical focused primarily on autoimmune diseases and cancer, are up more than 35% as of 3:20 p.m. EDT after news broke that the company has signed a lucrative collaboration agreement with Swiss pharma giant Novartis (NYSE:NVS). So what: Novartis has agreed to pay a $150 million upfront fee to get its hands on two of Xencor's pipeline candidates. These two drugs -- XmAb14045 and XmAb13676 -- are being d..

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• Airbnb in Disputes With New York and San Francisco

  

  Airbnb executives once promoted San Francisco as a city it could work with. After affordable housing advocates expressed fear that the service worsened the city’s housing crunch, Airbnb agreed to cap short-term rentals for entire homes and required hosts of such listings to register with the city. That law, which became known as the “Airbnb law” for its friendliness to the company, took effect in February 2015.But only 20 percent of the 7,000 or so hosts required to register have done so, and A..

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• Asian stocks bounce, bonds benefit from the unknown

  

  LONDON European and Asian stock markets built on a recovery from the shattering aftermath of last week's Brexit vote on Wednesday as investors wagered central banks would ultimately ride to the rescue with more stimulus.UK and European banks, a center of concern since Britain shocked global financial markets on Friday by voting to leave the European Union, were broadly higher, extending a recovery from two days of trading which knocked almost 40 percent off Barclays and RBS.Sterling and the eu..

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• UPDATE 1-Abu Dhabi to merge sovereign investment funds Mubadala and IPIC

  

  * Mubadala, IPIC to merge on order of govt - statement* To create fund with $135 bln of assets - Reuters calculations (Adds detail, context)DUBAI, June 29 Abu Dhabi plans to merge state investment funds Mubadala Development Company and International Petroleum Investment Company, the emirate's state news agency said on Wednesday.The combined fund would have assets worth around $135 billion, according to Reuters calculations based on both funds' latest financial statements. "The merger of the ..

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• Kellogg''s To Open New Cereal Cafe In Times Square

  

    Nasdaq Site Maintenance The website, Nasdaq.com, is currently under planned maintenance and should be back online soon. We apologize for the inconvenience to you. Service -

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• Cleveland house-price growth holds steady, Case-Shiller report shows (interactive graphic)

  

  CLEVELAND, Ohio -- Local house-price growth is holding steady around 2.9 percent a year, based on a closely watched set of indices updated Tuesday. Prices in the Cleveland-Elyria-Mentor area inched up from March to April, but the annual growth rate stayed pretty much the same. Among 20 major cities, Cleveland continues to be one of the slowest- and lowest-growth housing markets, based on the S&P/Case-Shiller Home Price Indices. Only New York and Washington, D.C., posted slimmer annual growth i..

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