Chime, Boston Scientific Falls, Compass Pathways Rises
Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:
- Chime Financial (CHYM) struck a deal to buy Stride Bank for $590 million in cash, with Stride to become Chime Bank, a wholly owned subsidiary. Chime will consolidate its banking activities at Stride and seek to keep the bank's assets below $10 billion for the "foreseeable future". The deal is expected to be completed in the first half of 2027, subject to regulatory approvals, and Chime anticipates it will see $100 million in net synergies from the deal.
- Boston Scientific (BSX) and Stryker (SYK) shares fell after the companies said they are dealing with the repercussions of separate cyber attacks. The cyber attacks curtailed the companies' ability to get products to customers and dented sales, with damage that could last for months. Both companies sell medical devices and are working to recover from the cyber incidents, with Boston Scientific's full operational recovery timeline remaining uncertain. Boston Scientific fell as much as 4.9% Tuesday in New York, while Stryker was down as much as 9.1%.
- Shares of Compass Pathways climb 3.9% after the bell after Bloomberg reports that a psychedelics developer is expected to be tapped for a top FDA drug role.
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