Market Shakes: Bristol-Myers Acquires Karuna, Nike Cuts Costs, Cummins Fined for Emissions

Rocket Lab secures government contract while US Steel faces scrutiny over potential sale.

Bristol-Myers Squibb is acquiring Karuna Therapeutics, causing a substantial increase in Karuna's stock price.
Nike's stock fell following a weak sales forecast and the announcement of $2 billion in cost cuts.
Cummins Engine agreed to a $1.67 billion fine to settle charges of cheating on emissions tests, leading to a drop in its stock price.
Rocket Lab USA received a contract to make and operate 18 space vehicles for the U.S. government, resulting in a rise in its stock price.
The White House is calling for scrutiny of US Steel's agreement to sell itself to a Japanese rival.