Stock Movers Jeffries Drops, AbbVie Not Acquiring Revolution, Raytheon Falls on Trump Threats
Jan 7, 2026
Jefferies Financial Group's quarterly profit took a hit, largely due to losses from the collapse of an auto-parts supplier. Meanwhile, AbbVie denied any acquisition talks with Revolution Medicines, causing Revolution's stock to plummet after an earlier surge. In a surprising twist, President Trump's criticism of Raytheon as ‘least responsive’ led to a drop in shares for Raytheon and other major defense contractors. Market reactions to these news items create an engaging discussion.
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Jefferies' Mixed Quarter Hurt By Auto-Parts Loss
- Jefferies reported mixed results with revenue gains but an EPS miss that pressured the stock.
- A $30 million pre-tax loss tied to First Brands Group materially reduced quarterly profit.
AbbVie's Denial Deflates Revolution Rumors
- AbbVie denied talks to acquire Revolution Medicines after a WSJ report, cooling a sharp post-report rally.
- The potential $20 billion deal would have given AbbVie a strong entry into the growing pancreatic cancer market.
Trump Comments Drive Whipsaw In Defense Stocks
- President Trump's criticism that Raytheon was "least responsive" briefly pushed defense stocks down and then back up on volatility.
- His threat to cut ties with a defense contractor created short-term whipsawing in RTX and peers.