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Novartis expands with acquisition, Viacom/CBS talks continue, Tesla issues recall

Here’s a look at some of the companies the Yahoo Finance team will be watching for you.

Novartis (NVS) tops our list. The Swiss drugmaker is buying Illinois based gene therapy company AveXis (AVXS) for $8.7B. The all cash deal is a whopping 88% premium to AveXis closing price Friday. Novartis is betting the company’s main drug for deadly spinal muscular atrophy can make billions.

Viacom (VIAB) wants CBS (CBS) to sweeten its buyout offer by $2.8B. Last week, CBS made Viacom an offer that values the media company at $11.9B. That’s roughly $800M below its current market value. Viacom’s latest request would value the company at $14.7B.

Trouble for Tesla (TSLA) abroad. Reuters reports the electric carmaker is expecting to recall nearly 9,000 Model S sedans in China. Tesla has already been voluntarily recalling Model S sedans in the U.S. to fix a loose steering wheel issue. Tesla says there have been no injuries or accidents due to this problem and will fix it for free.

And finally, Apple (AAPL) is launching new red editions of the iPhone 8 and 8 Plus today. The new color is in conjunction with the tech giant’s partnership with advocacy group (RED). The initiative raises awareness and funds to help eradicate HIV and AIDS in Africa.