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With interest rate uncertainty on the rise across the market, it may be time to buy stocks with a demonstrated history of low volatility. The Cboe Volatility Index — a yardstick of expected market volatility — briefly rose above 21 on Friday, its highest level since last October. The insurance stock currently has a 5-year beta of 0.54 relative to the S & P 500, and a price volatility score of 6.28. With a 5-year beta of 0.78 versus the S & P 500 and a 5-year price volatility score of 6.50, medical equipment maker Boston Scientific also turned up on the screen. Compared to the S & P 500, Merck's 5-year beta comes in at 0.39, while its 5-year price volatility scores a 6.06.

Persons: Joanne Wuensch Organizations: CNBC Pro, Boston Scientific, Citigroup, Boston, Pharmaceutical, Merck, Food, NextEra Energy Locations: UnitedHealth

☆ These stocks may have trouble living up to expectations for a big earnings turnaround this year
▼ + stars: | 2024-03-26 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

This in effect creates an 'implied' 2H of 2024 guidance that is perhaps excessively optimistic," CEO Adam Parker wrote Sunday. Parker's warning comes after S & P 500 reported earnings growth of 4.2% for the fourth quarter on a year-over-year basis, per FactSet. He also screened for stocks in which there's a big difference between earnings expectations for the first and the second half of the year. Parker surmises that these stocks may disappoint on these aggressive earnings turnarounds. Consensus estimates from analysts surveyed by FactSet suggest the stock, which is down nearly 5% this year, could gain 13.2% from Monday's close.

Persons: Adam Parker, Parker, AbbVie, FactSet, Wells Fargo, Estee Lauder Organizations: Research, Abbott Laboratories, Humana, Pharmaceutical, FactSet, Mondelez International, Procter, Gamble Locations: —, China, Monday's

☆ CNBC Daily Open: A mixed picture on U.S. jobs growth
▼ + stars: | 2024-03-11 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. stocks retreatWall Street finished Friday's session lower as investors look ahead to key inflation data due out this week. Japan skirts technical recessionJapan avoided a technical recession as revised fourth-quarter data revealed the economy returned to growth. "My famous topless sports massage was all about showing our culture, to be honest, that we had such a flexible culture," the Malaysian businessman told CNBC.

Persons: Tony Fernandes, Tasha Keeney Organizations: Grand Central Market, CNBC, Wall, Nasdaq, Dow, Gross, AirAsia, Pfizer Locations: Los Angeles , California, U.S, Japan, Malaysian

☆ Pharma stocks have quietly outperformed. Here’s one way to play the space
▼ + stars: | 2024-02-20 | by ( Katie Stockton | ) www.cnbc.com time to read: +6 min

— Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.

Persons: Eli Lilly, Katie Stockton Organizations: U.S . Pharmaceuticals, IHE, Fairlead, CNBC Pro, Securities Locations: U.S

☆ What Eli Lilly investors can learn from the slow launch of a competitor's drug
▼ + stars: | 2024-02-15 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

Club holding Eli Lilly is expecting to get approval for its Alzheimer's treatment in the coming weeks, but investors looking for immediate financial success should temper their expectations. The FDA's decision on Lilly's drug, known as donanemab, is expected by the end of March. In the meantime, Eli Lilly's diabetes and obesity drugs, the heart of our investment thesis, should continue to fuel the lion's share of the company's topline growth. About 2,000 patients are currently taking Leqembi, Biogen said Tuesday, up from 800 at the time of the company's third-quarter report in November. LLY YTD mountain Eli Lilly's stock performance so far in 2024.

Persons: Eli Lilly, drugmaker Biogen, Eli Lilly's, —, Lilly, Biogen, Japan's, Chris Viehbacher, Viehbacher, Morgan Stanley, Lilly's, Donanemab, Mounjaro, Jim Cramer, Leqembi, Jim Cramer's, Jim Organizations: Food and Drug Administration, Drug Administration, Alzheimer's Association, FDA, Club, GE Healthcare, FactSet, Pharmaceutical, CNBC Locations: Indianapolis

☆ These stocks could be the hardest hit if Treasury yields don't come down, says Piper Sandler
▼ + stars: | 2024-02-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

If higher Treasury yields persist, Piper Sandler believes certain stocks could see their earnings at risk. The yield on the 10-year Treasury rose as high as 4.16% on Monday after hitting a low around 3.8% last week. The 10-year Treasury was last hovering at the 4.09% level. The firm looked for stocks with a high correlation to the 10-year Treasury yield and downbeat earnings revisions, based on a proprietary EPS revisions ratio. Pharmaceutical stock Bristol-Myers Squibb has a comparatively lower correlation value of 0.188 to the 10-year yield.

Persons: Piper Sandler, Jerome Powell, Russell, Charles Schwab, Myers Squibb Organizations: Federal Reserve, Treasury, Piper, Bank of America, Bank, LSEG, East West Bancorp, West Bancorp, Oil, Pharmaceutical, Bristol, Myers Squibb, Redburn Locations: Bristol

☆ Comeback stocks: These names have jumped to start 2024 after falling last year
▼ + stars: | 2024-02-05 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

The Russell 1000 , which tracks the top 1,000 largest companies — large- and mid-cap names — is up about 3% in 2024. With this in mind, CNBC Pro screened for the stocks making a comeback in 2024. However, the consensus price target is just 4.6% from its current levels — putting into question whether there's more room for upside. Just 35.7% of analysts are bullish on the shares, and the average price target implies shares can grow just 4.3%. Sarepta Therapeutics has soared 27.4% this year — and it could jump 20.1% more according to its consensus price target, per LSEG.

Persons: Russell, they're, Merck's, Sarepta Organizations: CNBC Pro, Pharmaceutical, Merck, Verizon, Barclays, VZ, LSEG, Novo Nordisk, Sarepta Therapeutics Locations: Novo

☆ These stocks are getting close to oversold territory
▼ + stars: | 2024-01-12 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

There may be buying opportunities in a few stocks getting hit after making headlines this week. The relative strength indicator, which measures the magnitude and speed of price moves, is a popular metric used to evaluate whether shares are overbought or oversold. A stock with a 14-day RSI below 30 is considered oversold, suggesting that it could be a promising entry point for investors. The full oversold list While many noteworthy S & P 500 stocks are on the verge of being oversold, just two actual have RSIs below 30: Baker Hughes and Bunge Global . Here's the full list of overbought stocks: THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY .

Persons: Tesla, Morgan Stanley, FactSet, Dave Calhoun, Baker Hughes Organizations: Reuters, Hertz, Tesla, Boeing, Alaska Airlines, Federal Aviation Administration, Max, Bunge, CNBC, Juniper Networks, Traders, Hewlett Packard Enterprise, Pharmaceutical Locations: Red, China, Saudi Arabia

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In a 15-second video released to YouTube on Wednesday night, President Joe Biden promised the move would lower prices. It's the latest health policy pitch from a White House gearing up to make its efforts to tackle drug prices a central theme in next year's reelection campaign. Pharmaceutical companies have pushed back on the idea that prices alone are enough for Washington to act against a drug's patent. The plan could threaten future drugs, according to the pharmaceutical lobbying firm Pharmaceutical Research and Manufacturers of America, or PhRMA.

Persons: —, Biden, Joe Biden, Elizabeth Warren of Massachusetts, Amy Klobuchar, Neera Tanden, Megan Van Etten, William Pierce, George W, Pierce Organizations: Service, Business, YouTube, White, Medicare, Health, Human Services, Pharmaceutical, Pharmaceutical Research, Manufacturers of America, HHS Locations: WASHINGTON, Sens, Minnesota, Washington

☆ Eli Lilly vs. Novo Nordisk: The pros deliver their verdict on the viral weight-loss stocks
▼ + stars: | 2023-12-06 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

It has been quite a year for both Eli Lilly and Novo Nordisk given the boom in weight-loss drugs. Shares in Eli Lilly are up around 60% year-to-date, while its Danish counterpart Novo Nordisk has seen a gain of around 50%. At present, both Eli Lilly and Novo Nordisk offer weight loss treatments. Novo Nordisk Novo Nordisk's Wegovy recently made headlines for reducing the risk of heart attacks and strokes by 20% in adults with heart disease and obesity. Aside from Eli Lilly and Novo Nordisk, Pfizer , Johnson & Johnson and AstraZeneca are also developing weight-loss drugs.

Persons: Eli Lilly, Stocks, Rahul Ghosh, Rowe Price, TRP's Ghosh, Eli Lilly's, Ghosh, FactSet, Lilly, Novo Nordisk Novo Nordisk's Wegovy, Elizabeth Field, Squawk, What's, it's, Michael Bloom Organizations: Novo Nordisk, Nordisk, CNBC Pro, U.S . Food, Administration, pharma, Novo Nordisk Novo Nordisk's, Heart Association Scientific, Citi, Pfizer, Johnson, AstraZeneca, Barclays Locations: Danish, U.S, Novo

☆ Why Pfizer's latest stumble in the obesity market is a boon for Eli Lilly
▼ + stars: | 2023-12-01 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

In June, the New York-based pharmaceutical giant stopped developing a different obesity pill, known as lotiglipron , due to concerns about liver safety. Meanwhile, Eli Lilly shares were mainly flat in afternoon trading, at around $591apiece. We lifted our Eli Lilly price target Friday to $630 per share, up from $600. Eli Lilly and Danish rival Novo Nordisk (NVO) are the two dominant players in the obesity market. The longer it takes for competitors to get to this burgeoning market, the more revenue first-movers Eli Lilly and Novo Nordisk can capture.

Persons: Eli Lilly, Jim Cramer, Lilly's, Novo's, Jim, Eli Lilly —, —, Eli, that's, — Novo's, Novo, semaglutide, Jim Cramer's, AJ Mast Organizations: Pfizer, Club, Novo Nordisk, Pharmaceutical, Amgen, AstraZeneca, Bank of America, U.S . National Library of Medicine, U.S . Food, Drug Administration, CNBC, Bloomberg, Getty Locations: New York, Danish, Lilly, U.S, Indianapolis , Indiana

☆ Maker of Wegovy, Ozempic showers money on U.S. obesity doctors
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +23 min

Novo spent at least $25.8 million over the past decade on U.S. medical professionals to promote its two obesity drugs, Wegovy and Saxenda, the analysis found. Jastreboff has also worked on clinical trials of obesity drugs for Eli Lilly, which markets a Wegovy competitor. Some doctors said Novo’s payments exemplify how the flood of industry money can dominate decision-making about care and coverage. Government pharmacy officer Solaru said her agency concluded that the new obesity drugs could be cost-effective by preventing other weight-related diseases and boosting workplace productivity. In January, the personnel office told its health plans they must cover at least one GLP-1 obesity drug for 8 million workers, retirees and family members.

Persons: Lee Kaplan, Kaplan, ”, gastroenterologist, He’s, Novo, Donna Ryan, Ryan, “, ” Kaplan, ” Novo, Robert Lustig, “ I’m, Lustig, They’re, Ania, ” Jastreboff, Jastreboff, Eli Lilly, Lilly’s Zepbound, Lilly, ” Lilly, Novo’s, Ayana, Sanders, Arthur Kellermann, ” Kellermann, mouthpieces, ’ ”, “ I'm, Jamy Ard, Ard, Dele, ” Solaru, ” Ryan, Scott Kahan, Kahan, Solaru, Christine Gallagher, Wegovy, Rebekah Carl, Carl, Jen Wexler, gaunt, Wexler Organizations: Novo Nordisk, Dartmouth, Nutrition Institute, Massachusetts General Hospital, Harvard Medical School, Reuters, Cambridge, Obesity Society, U.S ., Management, Reuters . Pharmaceutical, ”, U.S, United, National Health Service, University of California, U.S . Food, Drug Administration, Doctors, Wegovy’s, BMI, Yale University’s Center, Weight Management, Wall Street, American Medical Association, Rutgers University’s School of Public Health, Affordable, . Pharmaceutical, Companies, Uniformed Services University of Health Sciences, Wake Forest University, Wake Forest Baptist Health Weight Management, Obesity, Pennington Biomedical Research, U.S . National Institutes of Health, Personnel Management, Coalition, STOP, George Washington University, Novo Locations: CAMBRIDGE, Massachusetts, Boston, U.S, Novo, Danish, United States, Louisiana, San Francisco, Wegovy, Pennington, Baton Rouge , Louisiana, Government, New Columbia , Pennsylvania, Florida

☆ Healthcare, AI and more: How one pro is investing for a 'Goldilocks' economy
▼ + stars: | 2023-11-24 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

A so-called Goldilocks economy is one which doesn't grow too quickly, or shrink too much — in other words, it's just right. "The reason they've such a high dividend yield is because there's something wrong with the company. And so, the value of the stock has gone down, which means the dividend yield is high," he said. And so, when, when I think about dividend stocks, I'm thinking about companies that pay a moderate dividend." Buy-rated stocks CNBC Pro screened for the top dividend stocks in each of the four themes Budden is looking at.

Persons: Andy Budden, it's, Budden, Eli Lilly, He's, Bard Organizations: Capital Group, U.S . Federal Reserve, CNBC Pro, Bank of America, Pharmaceutical, Novo Nordisk, Microsoft, Google

A sign is pictured outside an Eli Lilly and Company pharmaceutical manufacturing plant at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. Incretins are peptide-based drugs such as Mounjaro that mimic gut hormones to suppress appetite and stimulate insulin secretion. Lilly said it had announced investments of more than $11 billion in global manufacturing in the past three years. Major production sites that Lilly runs outside of its U.S. home market are in Ireland, France, Spain, Italy and China. The new Alzey site will employ up to 1,000 highly skilled workers such as engineers, technicians and scientists, said Lilly.

Persons: Eli Lilly, Mike Segar, Lilly, Karl Lauterbach, Lauterbach, generics, Patrick Wingrove, Matthias Williams, Jason Neely, David Evans Organizations: Company, REUTERS, Rights, Reuters, U.S ., Novo Nordisk, European Union, pharma, The U.S ., Thomson Locations: Branchburg , New Jersey, Germany, Alzey, U.S, United States, Danish, Berlin, Fegersheim, France, European, Indiana , North Carolina, Limerick, Ireland, Spain, Italy, China, The U.S

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. The company declined to comment on the plans but news conferences are planned in Alzey, where sources say the plant will be built, and Berlin on Friday. Other people familiar with the plans told Reuters that at least 1,000 jobs would be created. Eli Lilly said it would unveil "far-reaching investment plans" at Friday's news conference, which will be attended by Germany's economy and health ministers. Mounjaro's success helped Lilly post a 37% gain in third-quarter revenues to $9.5 billion, topping Wall Street estimates.

Persons: Eli Lilly, Mike Segar, Mounjaro, TSMC, Lilly's, Lilly, Rene Wagner, Klaus Lauer, Andreas Rinke, Ludwig Burger, Thomas Escritt, Madeline Chambers, Miranda Murray, Christina Fincher Organizations: Company, REUTERS, Basf, Reuters, BASF, U.S ., U.S, Intel, European Union, Novo Nordisk, U.S . Food, Drug Administration, Thomson Locations: Branchburg , New Jersey, BERLIN, Germany, Alzey, Berlin, U.S, Ukraine, European, Indianapolis, Danish, Eisai

☆ Eli Lilly and more: Strategist names 5 stocks set for 'significant' earnings growth
▼ + stars: | 2023-11-10 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

Rising rates and the possibility of a recession on the horizon have created a "mixed picture" for equity markets, according to one strategist — but several companies can look forward to markedly stronger earnings growth in the next year. "But, if you're looking for significant earnings expansion, I suspect, at a market level, that's probably less likely. The earnings growth rate for the S & P 500 was 3.7% year-on-year – the first quarter with year-on-year growth since the third quarter of 2022, the data showed. "What Eli Lilly is going to do with their weight loss drug is not dependent on whether the rates are 5.2% or 4.8%. "People didn't really talk about [Adobe] — everyone assumed that they were going to be a loser from AI," he said.

Persons: —, they're, Rahul Ghosh, Rowe Price, Ghosh, Eli Lilly, Powell, Software Ghosh, — CNBC's Annika Kim Constantino Organizations: Healthcare Healthcare, UnitedHealth Group, Fellow, Food and Drug Administration, Software, Adobe Creative, Adobe Express

Companies Pfizer Inc FollowSeagen Inc FollowBRUSSELS, Oct 19 (Reuters) - U.S. pharmaceutical company Pfizer (PFE.N) gained unconditional EU antitrust approval on Thursday for its proposed $43 billion acquisition of cancer drug maker Seagen (SGEN.O). Pfizer announced the deal in March, its largest purchase in a string of recent acquisitions thanks to a once-in-a-lifetime cash windfall from its COVID-19 vaccine and treatment. The European Commission said the deal would not significantly reduce competition in the 27-country European Union nor would it have a negative impact on prices. "The proposed merger would not raise competition concerns," the EU antitrust watchdog said in a statement. Washington-based Seagen is a pioneer of antibody-drug conjugates, which work like "guided missiles" designed to destroy cancer while sparing healthy cells.

Persons: Foo Yun Chee Organizations: Pfizer, European Commission, Thomson Locations: Union, Washington

☆ Pfizer slashes full-year earnings and revenue guidance as Covid treatment, vaccine sales slump
▼ + stars: | 2023-10-13 | by ( Jacob Pramuk | ) www.cnbc.com time to read: +1 min

Pfizer slashed its full-year earnings and revenue guidance on Friday, as it said demand for its Covid products has waned. The company now expects 2023 sales of $58 billion to $61 billion, down from its previous guidance of $67 billion to $70 billion. Pfizer said it cut its revenue outlook "solely due to its Covid products." The biopharmaceutical company slashed its full-year adjusted earnings guidance to a range of $1.45 to $1.65 per share, from a previous $3.25 to $3.45 per share. It also said it anticipates sales of its vaccine, Comirnaty, will be $2 billion lower than previously expected because of lower-than-expected vaccination rates.

Persons: Albert Bourla Organizations: Pfizer, European Commission, BioNTech, U.S ., CNBC, YouTube Locations: U.S, Puurs, Belgium

☆ The cost of hot new weight-loss drugs could put some companies out of business, Blackstone exec warns
▼ + stars: | 2023-10-13 | by ( ) www.businessinsider.com time to read: +5 min

Execs at a healthcare conference debated whether employers should pay for workers' weight-loss drugs. A Blackstone exec warned that the costly GLP-1 drugs could put some employers out of business. Panelists agreed that companies covering the drugs should do so as part of a broader support program. Andreas Mang, the CEO of Equity Healthcare, a division of Blackstone, said spending on these diabetes and weight-loss drugs, known as GLP-1 agonists, spiked 600% across Blackstone's portfolio in the last four years. The benefits firm Aon recently projected that employers' health-insurance costs will climb 8.5% next year, fueled in part by weight-loss drugs.

Persons: Blackstone, Andreas Mang, they're, Melynda Barnes, Lucia Guillory, Li Shao, Shao, Omada, We've, They're Organizations: Blackstone, Equity Healthcare, GLP, Getty, Wei, Omada, Pharmaceutical Locations: Las Vegas, Europe

☆ PepsiCo is among the most oversold S&P 500 stocks. Here are the others
▼ + stars: | 2023-10-06 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The S & P 500 entered Friday's session down for the week, but a 1% rally put it on track to snap a four-week slide. Here are some of the most oversold names: PepsiCo is one of the most oversold companies in the S & P 500, scoring an RSI of 5.7 and a consensus price target implying more than 26% upside. Other oversold stocks include utility company NextEra Energy , hospitality and entertainment company MGM Resorts International and financial services firm State Street . Here are the 10 most overbought stocks in the S & P 500: Activision Blizzard made the list, with an RSI of 74.15. Pharmaceutical company McKesson and risk management software provider Assurant are also among the most overbought companies in the S & P 500.

Persons: Christopher Horvers, Activision Blizzard, UnitedHealth, it's Organizations: Group, PepsiCo, Dow Jones, CNBC Pro, Wall Street, Gatorade, Barclays, JPMorgan, HSBC, NextEra Energy, MGM Resorts International, Activision, Microsoft, Activision Blizzard, . Pharmaceutical, Seagate Technology Locations: overbought

☆ These are the most oversold stocks during a harsh September for the market
▼ + stars: | 2023-09-29 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Conversely, a reading lower than 30 typically means a stock is oversold and could be a signal of a possible buying opportunity. MGM YTD mountain MGM in 2023 Realty Income is the most oversold company in the S & P 500, scoring the lowest RSI of the lot at 5.19. Other oversold stocks include Boeing , discount retailer Dollar General and cloud software company Salesforce . Travelers Companies is the most overbought stock in the broad-based index with an RSI of 79.89. Big-name health-care and insurance company UnitedHealth Group , with a market cap of $469.26 billion, has a 14-day RSI of 75.54.

Persons: Wells Fargo, Chubb Organizations: Nasdaq, Dow Jones, CNBC Pro, MGM Resorts, MGM, Culinary Workers Union, Wynn Resorts, Wall Street, Netflix, Hollywood, Boeing, Dollar, Travelers Companies, . Insurance, UnitedHealth, Pharmaceutical, Humana, Arch Capital Group Locations: Vegas

TOKYO (AP) — Japan's health ministry has approved Leqembi, a drug for Alzheimer’s disease that was jointly developed by Japanese and U.S. pharmaceutical companies. It's the first drug for treatment of the disease in a country with a rapidly aging population. Developed by Japanese drugmaker Eisai Co. and U.S. biotechnology firm Biogen Inc., the drug's approval in Japan comes two months after it was endorsed by the U.S. Food and Drug Administration. Eisai said it will conduct a post-marketing special use survey in all patients administered the drug until enough data is collected from unspecified number of patients under Japanese health ministry procedures. Eisai is committed to delivering Leqembi to people who need it and their families “as a new treatment,” said Haruo Naito, the company’s CEO.

Persons: Fumio Kishida, Kishida, Eisai, Leqembi, ”, Haruo Naito Organizations: TOKYO, Biogen Inc, U.S . Food, Drug Administration, Kyodo Locations: Japan

☆ Medicare's drug-price negotiations will save the government billions in healthcare spending — but patients may not feel the benefits
▼ + stars: | 2023-09-25 | by ( Natalie Rahhal | ) www.businessinsider.com time to read: +6 min

Patients with private health insurance aren't likely to see a drop in costs from the negotiations. Longo said the price-setting provisions will drive research and investment away from treatment options for Medicare patients. If drug companies won't come to the negotiating table to lower drug prices paid by private insurers, those insurers could take the companies' drugs off their lists of covered medications. Or, if private insurance companies don't negotiate drug prices down for their patients, patients in some cases could seek out different insurance. "These are not full solutions, but they are the beginning of cracks in the facade" of drug companies' constant price hikes, Feldman said.

Persons: Biden, Juliette Cubanski, Jeffrey Davis, Davis, Richard Frank, —, Nicole Longo, Longo, it's, — aren't, Robin Feldman, Feldman, Cuban's Organizations: Medicare, Healthcare, Morning, Centers, Services, Congressional, McDermott, Consulting, Brookings Schaeffer Initiative, Health, Pharmaceutical Research, Manufacturers of America, PhRMA, University of California Law School, Costco, Pharmaceutical Locations: Lower

☆ Stocks making the biggest moves midday: Marathon Petroleum, Tesla, Moderna and more
▼ + stars: | 2023-09-18 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

Moderna — The pharmaceutical company lost more than 8% Monday, making it the biggest decliner in the S&P 500. Enphase Energy — Shares lost 2.6% after Citi lowered its price target on shares to $170 from $209 while keeping its buy rating. The new price target implies 41% upside from Friday's close. Analyst Chris Quintero highlighted the growth opportunity for the company following a strong investment cycle. The investment bank bumped up the stock's price target to $40 from $37, citing Simply Good Foods' diverse product offering and shifting consumer preferences to healthier choices as catalysts.

Persons: Bernstein, Needham, Noubar Afeyan, Moderna's, Goldman Sachs, Mark Delaney, PayP, Ralph Lauren —, Ralph Lauren's, TD Cowen, Cowen, Tenable, Morgan Stanley, Chris Quintero, Raymond James, ASGN, Wells Fargo, —, Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: — Petroleum refiners Valero Energy, Marathon Petroleum, West Texas Intermediate, Brent, Energy, Arm, Nasdaq, Securities and Exchange Commission, Pharmaceutical, Pfizer, U.S, Tesla, PayPal, MoffetNathanson, Guggenheim, Enphase Energy, Citi, Tenable Holdings, Mizuho, Aldi, Lowe's, Micron Technology, Deutsche Bank, Paramount, Disney, Warner Bros Discovery, Iridium Communications, Iridium Locations: Valero Houston, Houston , Texas, U.S

☆ EU antitrust regulators set Oct. 19 deadline for Pfizer's Seagen deal
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

Test tubes are seen in front of Seagen logo in this illustration taken June 27, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Pfizer Inc FollowSeagen Inc FollowBRUSSELS, Sept 15 (Reuters) - Pfizer's (PFE.N) $43 billion bid for Seagen (SGEN.O) will be decided by EU antitrust regulators by Oct. 19, a regulatory filing showed on Friday. U.S. pharmaceutical company Pfizer announced the deal, its biggest, in March for Washington-based Seagen, a pioneer of antibody-drug conjugates, which work like "guided missiles" designed to destroy cancer while sparing healthy cells. The European Commission can either clear the deal after a preliminary review or it can start a four-month long investigation if it has serious concerns. Pfizer sought EU antitrust approval on Thursday.

Persons: Dado Ruvic, Foo Yun Chee, Grant McCool Organizations: REUTERS, Pfizer, Washington, European, Thomson

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