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Friday, January 2, 2026

Baidu shares surge as AI chip arm Kunlunxin files for landmark Hong Kong spinoff

Baidu (BIDU) has announced plans to spin off and separately list the H shares of its subsidiary, Kunlunxin (Beijing) Technology Co., Ltd., on the Hong Kong Stock Exchange.

The move sent Baidu’s stock surging 7.5% to HK$141.30 in Friday’s trading session, outperforming the broader market.

In a filing submitted on New Year’s Day, Thursday, January 1, 2026, Baidu confirmed it has moved forward with a confidential application to list Kunlunxin’s H shares on the Main Board of the Hong Kong Stock Exchange (HKEX).

The goal of this spinoff is to highlight Kunlunxin's value, attract AI chip sector investors, and improve its market presence.

Additionally, it aims to open new financing avenues and align management responsibilities with performance, further unlocking the value of Baidu's AI-driven businesses.

Earlier, earlier reported that Kunlunxin was planning for a Hong Kong initial public offering after completing a fundraising that valued it at 21 billion yuan ($3 billion).

After the proposed spin-off, Kunlunxin is expected to remain a subsidiary of the company.

The details of the proposed spin-off are not finalized and depend on approvals from the HKEX and other regulatory bodies. There is no guarantee that the proposed spin-off will occur or its timing.

https://www.msn.com/en-us/money/news/baidu-shares-surge-as-ai-chip-arm-kunlunxin-files-for-landmark-hong-kong-spinoff/ar-AA1Tr6Ir

Large Tech Stocks May Be Set for a Comeback, Says Morgan Stanley Portfolio Manager

Large technology stocks may be set for a comeback in early 2026 after lagging the market in the fourth quarter, said Morgan Stanley MS +1.43% ▲ senior portfolio manager Andrew Slimmon in comments to CNBC. Interestingly, tech now looks more attractively priced than industrial stocks, which have already risen as investors bet on Federal Reserve interest rate cuts. As a result, Slimmon believes that most of the good news is already priced into industrial stocks.

https://www.tipranks.com/news/large-tech-stocks-may-be-set-for-a-comeback-says-morgan-stanley-portfolio-manager

Strategy shares register first six-month losing streak since adoption of bitcoin strategy in 2020

Strategy shares fell in each of the final six months of 2025, marking the first time since the firm adopted bitcoin in August 2020 as a treasury reserve asset.

The decline stands out for its persistence, as past selloffs were often followed by sharp rebounds.
The stock sharply underperformed both bitcoin and the Nasdaq 100 despite the firm's continued BTC purchases.

Strategy (MSTR) shares have declined for six consecutive months for the first time since the firm adopted bitcoin as a treasury asset in August 2020, according to a performance table shared Thursday by crypto analyst Chris Millas.

In a Jan. 1 post on X, Millas highlighted the rare streak and attached a chart showing Strategy’s monthly returns since 2020. The data show the stock posted uninterrupted losses from July through December 2025, including declines of 16.78% in August, 16.36% in October, 34.26% in November and a further 14.24% drop in December.

While Strategy has experienced steeper single-month losses in the past, the chart shows those drawdowns were typically punctuated by sharp rebound months. During the 2022 bear market, for instance, large declines were followed by rallies of more than 40% within a few months. The absence of any comparable relief rally in the second half of 2025 marks a break from that historical pattern, suggesting a more persistent repricing rather than a short-lived selloff.

Strategy shares closed Dec. 31 at $151.95, down 2.35% on the day, according to Google Finance. The stock is down 11.36% over the past month, 59.30% over six months and 49.35% over the past year.

Bitcoin has held up better over comparable periods. According to CoinDesk Data, bitcoin was trading at $87,879 as of noon ET on Jan. 1, up 0.38% over the past 24 hours. The flagship cryptocurrency is down 5.06% over the past month, 27.36% over the past three months and 9.65% over the past year.

The divergence has emerged even as Strategy continued to add to its bitcoin holdings. On December 29, executive chairman Michael Saylor announced on X that the firm had acquired 1,229 BTC for approximately $108.8 million. As of Dec. 28, Strategy held 672,497 BTC acquired for roughly $50.44 billion, he said.

Strategy’s equity performance also lagged the broader market. The Nasdaq 100 index, of which the company is a constituent, rose 20.17% in 2025.

https://www.coindesk.com/markets/2026/01/01/strategy-shares-register-first-six-month-losing-streak-since-adoption-of-bitcoin-strategy-in-2020

Ardelyx (ARDX) Boosts Product Prices, Shares Climb

Ardelyx (ARDX) shares surged approximately 8% following news of price hikes for its main products, tenapanor, branded as Ibsrela and Xphozah. Effective January 1, 2026, Ibsrela's price increased by 9% and Xphozah's by 8%, surpassing last year's hikes of 5% and 7%, respectively. Analyst Christopher Raymond from Raymond James, who maintains a Strong Buy rating on ARDX, noted the price adjustments are more aggressive than in previous years, potentially supporting the company's commercial strategy. Ardelyx reported net sales of $158.3M for Ibsrela and $160.9M for Xphozah in 2024.

https://www.gurufocus.com/news/4092670/ardelyx-ardx-boosts-product-prices-shares-climb

Sellas soars as it nears final analysis in cancer study

As of December 26, 72 deaths have occurred, the company said on Monday.
SELLAS had said in August that it expects the 80 events to occur by year-end.
GPS is SELLAS’ lead candidate licensed from Memorial Sloan Kettering Cancer Center and targets the WT1 protein, which is present in an array of tumor types.

Shares of SELLAS Life Sciences Group, Inc. (SLS) traded 17% higher on Monday after the company said that it is approaching the final analysis of its late-stage trial in Acute Myeloid Leukemia.

The company is currently evaluating Galinpepimut-S (GPS) as a potential maintenance therapy in patients with Acute Myeloid Leukemia who have achieved complete remission following second-line salvage therapy. AML is a fast-growing cancer of the blood and bone marrow where immature white blood cells build up, crowding out healthy cells, leading to fatigue, infections, and bleeding. GPS is SELLAS’ lead candidate licensed from Memorial Sloan Kettering Cancer Center and targets the WT1 protein, which is present in an array of tumor types.

The ongoing GPS trial is an overall survival study and final analysis is expected once 80 deaths have occurred. As of December 26, 72 deaths have occurred, the company said on Monday. SELLAS had said in August that it expects the 80 events to occur by year-end.

“We appreciate the continued dedication of the patients, families, and investigators participating in the pivotal Phase 3 REGAL trial where survival times, fortunately for patients and caregivers, appear longer than expected,” said SELLAS CEO Angelos Stergiou. “While the 80th event has not yet occurred, and we remain fully blinded, every passing month may increase the probability of a successful study as highlighted by key opinion leaders in our recent R&D event. Conclusive data will follow the unblinding and analyses of the study results.”

Interim Analysis

In August, an Independent Data Monitoring Committee completed a pre-specified analysis of the trial and issued a positive recommendation to continue the trial without modification. No safety concerns were identified, and available efficacy data were consistent with expectations for continued trial conduct, the company then said.

The study completed enrollment in April 2024, with a total of 126 patients randomized.

https://www.msn.com/en-in/health/other/sellas-life-sciences-group-stock-soars-as-it-nears-final-analysis-in-cancer-study/ar-AA1TeFhz