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The commodities market is a "much more constructive place to invest" right now — and "integrated" names in the energy sector in particular are "extremely attractive," according to one portfolio manager. For now, Dunn said, he is "certainly concerned about and paying attention to the U.S. onshore shale era," when evaluating what equities to invest in. Integrated energy companies typically engage in the exploration, production, refinement, and distribution of oil and gas. "It's a U.S. company, but they have a lot of assets outside the U.S. and they have been investing outside the U.S.," he said. 'Uncover interesting equities' While the ongoing pullback in the U.S. stock market presents concerns on what stocks to invest in, Dunn said it can help "uncover very interesting equities."
Persons: Aaron Dunn, CNBC's, Dunn, they're, TotalEnergies, Stocks Organizations: Morgan Stanley Investment Management, ExxonMobil, Chevron, BP, ConocoPhillips, Constellation Brands, BJ's Wholesale Locations: U.S, British, Netherlands, Qatar, Australia
CNN —For the first time, adults 60 and older are eligible to receive a vaccine against the respiratory syncytial virus, or RSV. Since this is the first time an RSV vaccine has been made widely available, some older people may be wondering why it might be needed. Is RSV a major problem in adults, especially older adults? Tragically, around 10,000 to 13,000 older adults annually die from this infection. I also do not recommend that people who have decided to get the RSV vaccine to wait.
Persons: Abrysvo, Leana Wen, , Wen Organizations: CNN, Food and Drug Administration, GlaxoSmithKline, Pfizer, US Centers for Disease Control, CNN Wellness, George Washington University Milken Institute School of Public Health, CDC, FDA Locations: United States, It’s
In an uncertain market environment, Morgan Stanley thinks investors can regain confidence with some large-cap defensive stocks. All are members of the top 1000 by market cap universe, have outperformed on a year-to-date basis, and are classified as a growth stock based on Morgan Stanley's proprietary factor classification model. "In our view, the best way to express that in a portfolio is to hold a barbell of defensive growth (select growth stories and more traditional defensive sectors like Healthcare and Consumer Staples) with late-cycle cyclicals (Industrials and Energy)." Here are some names from Morgan Stanley's playbook: McDonald's is a sure defensive play, according to the firm. Still, Morgan Stanley analysts view the burger chain as a growth stock that is set to outperform in the coming months.
Persons: Morgan Stanley, Morgan, Michelle Weaver, Consumer Staples, Morgan Stanley's, FactSet Organizations: Healthcare, Consumer, Energy, Costco, Apple, Analysts, Accenture, Ross Stores, Marriott Locations: California
Drug company Danco Laboratories on Friday asked the Supreme Court to review the case challenging the legality of the abortion pill mifepristone. Danco, which distributes the abortion pill, wants the Supreme Court to reverse the lower court ruling. Danco's request for the Supreme Court to take up the case comes nearly 15 months after the court's conservative majority overturned Roe v. Wade, the landmark 1973 decision that protected abortion as a constitutional right. Four justices have to agree to take up the abortion pill case. The U.S. Department of Justice is also expected to ask the high court to review the case.
Persons: Roe, Wade Organizations: Danco Laboratories, U.S ., Appeals, Fifth Circuit, U.S . Department of Justice
For decades, drugmakers have argued that patents are critical to bringing new drugs to the market. But in 2004, when a promising H.I.V. treatment emerged, Gilead Sciences decided to slow-walk its release to maximize profit on the company’s existing patents. Rebecca Robbins, who covers the pharmaceutical industry for The Times, discusses one man’s case and how patents can create perverse incentives to delay new and better drugs.
Persons: drugmakers, Rebecca Robbins Organizations: Gilead Sciences, The Times
Amir Dan Rubin, CEO of primary care provider One Medical, which Amazon acquired about a year ago, is leaving the company later this year. Twitch CEO Emmett Shear resigned from Amazon in March, and Whole Foods CEO John Mackey retired last year. Amazon has looked to shore up its presence in health care through the One Medical and PillPack deals, as well as by developing services in-house. Last August, the company shuttered its Amazon Care telehealth service amid broader cost-cutting efforts. Haven, a joint venture intended to disrupt health care, disbanded in 202.
Persons: Amir Dan Rubin, Neil Lindsay, Rubin, Trent Green, Trent, PillPack, TJ Parker, Elliot Cohen, Twitch, Emmett Shear, John Mackey, It's Organizations: Amazon, Amazon Health Services, CNBC, Washington Post, Federal Trade Commission, Whole Foods Locations: Haven
These four are responsible for 46% of the 17% gain in the S & P 500 year to date. In 2003, the largest stocks – General Electric , Microsoft, Pfizer and Exxon Mobil – represented merely 4.4% of the total index market value. By 2013, the share commanded by giants Apple, Exxon, Microsoft and GE rose to 8.9% of the S & P 500. That's still below their 21% market value share, but it helps explain what investors are paying for: exceptional free cash flow and sustainable margins. The S & P 500 will struggle without participation from its biggest components.
Persons: That's, Price, Karen Firestone Organizations: Apple, Microsoft, Nvidia, Meta, Delta Air Lines, Micron Technology, Electric, Pfizer, Exxon Mobil, Exxon, GE, U.S, Union, Asset Management
So if people are less likely to be hospitalized or die from a Covid-19 infection now, has the danger passed? Through genetic bad luck, some people may just be at higher risk of serious reactions to Covid-19 infections, and they probably wouldn’t know it. Researchers defined it as any new or continuing symptoms more than 90 days after a Covid-19 infection. Based on his experience treating long Covid patients, Griffin said that the percentage reported in the Australian paper seems high. Earlier in the pandemic, pediatric infectious disease specialists were on the lookout for a rare complication of Covid-19 infection in kids called multisystem inflammatory syndrome in children, or MIS-C.MIS-C starts two to six weeks after a Covid-19 infection.
Persons: CNN —, we’ve, aren’t, Good, , Megan Ranney, Covid, ” Ranney, that’s, Evusheld, haven’t, you’ve, they’re, They’re, Mandy Cohen, It’s, , Jesse Bloom, Daniel Griffin, it’s ‘, Griffin, , Peter Chin, Chin, Hong, Nathaniel Hendrix, Hendrix, it’s, hasn’t, she’s, Kristin Englund, shouldn’t, Dr, Sanjay Gupta, “ It’s, Ellie Murray, ” Murray Organizations: CNN, US Centers for Disease Control, Yale School of Public Health, Covid, National Institutes of Health, FDA, US Department of Health, Human Services, CDC, Fred Hutchinson Cancer Center, HHS, Columbia University, University of California, Census Bureau, Nature Medicine, American Board of Family Medicine, Nature, Veterans Affairs, Cleveland Clinic, CNN Health, Boston University School of Public Health Locations: South Africa, Botswana, United States, China, Seattle, Israel, Denmark, United Kingdom, Portugal, US, Switzerland, Thailand, Australia, San Francisco, Ohio
CVS Health is partnering with drugmaker Sandoz to produce a near identical version of the blockbuster arthritis treatment Humira that will sell for 80% below the price of the brand-named drug. The move is part of the company's new venture focused on securing, and in some cases co-producing, biosimilar drugs, which are the equivalent of generic versions of complex gene or protein-based therapies known as biologics. CVS is already one of the leading players when it comes to sourcing generic drugs through Red Oak, its joint venture with Cardinal Health . Abbvie reported more than $4 billion in Humira sales in its most recent quarter, which was slightly better than expected. Correction: CVS Health subsidiary Cordavis will partner with Sandoz on biosimilar drugs.
Persons: drugmaker Sandoz, We've, it'll, Prem Shah, drugmaker, Amgen's Amjevita, Murdo Gordon, Abbvie, Cuban's, John Ransom, Raymond James, Ransom, Sandoz Organizations: CVS Health, CVS, Cardinal Health, Novartis Pharmaceuticals, Sandoz, Novartis, FDA, Blue, Drug Company, Amazon Pharmacy Locations: U.S, Red, California
Analysts at Bank of America screened for "triple momentum" stocks based on their momentum in three areas: earnings, price and positive news. Price momentum concerns market sentiment, while news momentum refers to media coverage and corporate news releases. In health care, the top-performing "triple momentum" stocks are drug company Novo Nordisk , medical equipment firm Boston Scientific and robotics manufacturer Intuitive Surgical . For software, it picked Workday and Oracle as among the names with the "most positive" momentum across the three measures. "We screen for Triple Momentum stocks with above-average Earnings Momentum, above-average Price Momentum, top quintile by News Momentum, and above-average one-month change in News Momentum," BofA's analysts said.
Persons: BofA, Vinci, Safran, Berkshire Hathaway, — CNBC's Michael Bloom Organizations: Bank of America, Triple, Novo Nordisk, Boston Scientific, Netflix, Semiconductor, ON Semiconductor, AMD, Lam Research, Oracle, Triple Momentum, News Momentum Locations: industrials, BofA
CVS Health logo is seen displayed in this illustration taken, May 3, 2022. The regional health insurance provider will still retain CVS Caremark for managing specialty drugs, which are costly medications used to treat complex conditions like cancer and rheumatoid arthritis. Other analysts highlighted difficulties in shifting to a different model than the one offered by companies like CVS - which provide other services including home drug delivery and reimburse pharmacies for patients' prescriptions. Amazon Pharmacy will provide at-home delivery of prescription drugs as well as upfront pricing, while Mark Cuban Cost Plus Drug Company will provide access to generic drugs, Blue Shield said. Blue Shield of California's other partners include privately held Abarca for processing claims related to prescription drugs, while smaller PBM Prime Therapeutics will work to negotiate savings with drugmakers.
Persons: Dado Ruvic, Cigna, UnitedHealth, Mark, Elizabeth Anderson, J.P, Morgan, Lisa Gill, Gill, Blue, Manas Mishra, Mariam Sunny, Bhanvi, Shweta Agarwal, Pooja Desai, Krishna Chandra Eluri, Frances Kerry Organizations: CVS, REUTERS, Amazon, Cigna, UnitedHealth, Evercore ISI, Mark Cuban, Plus, Thomson Locations: Bengaluru
CVS Health logo is seen displayed in this illustration taken, May 3, 2022. Blue Shield, whose health plans cover 4.8 million members, said it will now work with five different companies, including Mark Cuban's drug company, to provide "convenient, transparent access to medications while lowering costs." Privately held Abarca will pay prescription drug claims, while Prime Therapeutics will work with Blue Shield to negotiate savings with drugmakers, the company said. Blue Shield will also work with CVS Caremark for specialty pharmacy services. The loss of the Blue Shield pharmacy benefit management contract is another blow to Caremark, which is also set to lose the contract to manage Centene's (CNC.N) $40 billion annual pharmacy needs from next year.
Persons: Dado Ruvic, UnitedHealth, Mark Cuban's, Paul Markovich, Mark, Manas Mishra, Mariam Sunny, Bhanvi, Shweta Agarwal, Pooja Desai Organizations: CVS, REUTERS, Blue, Cigna, UnitedHealth, Pharmacy, Wall Street, Mark Cuban, Plus, Thomson Locations: Blue, Bengaluru
Blue Shield of California will no longer use CVS Health’s Caremark as its pharmacy benefit manager and instead will partner with several companies, including Amazon Pharmacy and Mark Cuban Cost Plus Drug Company. They have come under fire from other players in the health care industry and from Congress because of their opaque practices. Most adults take at least one prescription drug annually, while more than a third take at least three, Blue Shield said, citing Centers for Disease Control and Prevention data. CVS Caremark will continue to work with Blue Shield, providing specialty pharmacy services for members with complex conditions. The company bought online pharmacy PillPack in 2018, launched its own Amazon Pharmacy in 2020 and last year created a virtual health care clinic.
Persons: ” Paul Markovich, Mark Organizations: New, New York CNN, CVS, Amazon Pharmacy, Cuban, Plus Drug Company, Pharmacy, Blue, for Disease Control, , Mark Cuban, Plus, CVS Health, Amazon Locations: New York, California
CVS Health logo is seen displayed in this illustration taken, May 3, 2022. Non-profit health plan provider Blue Shield, which has 4.8 million members, said it will work with partners including Amazon.com and Mark Cuban's Cost Plus Drug Company to provide at-home delivery and access to low-cost medications. Privately held Abarca will pay prescription drug claims, while Prime Therapeutics will work with Blue Shield to negotiate savings with drugmakers, the company said. Blue Shield will also work with CVS Caremark for specialty pharmacy services. The loss of Blue Shield marks another blow to Caremark, which is also set to lose the contract to manage Centene's (CNC.N) $40 billion annual pharmacy needs from next year.
Persons: Dado Ruvic, Cuban's, Privately, Manas Mishra, Mariam Sunny, Bhanvi, Shweta Agarwal, Pooja Desai Organizations: CVS, REUTERS, Wall Street Journal, Cigna, UnitedHealth, Company, Thomson Locations: Bengaluru
Check out the companies making the biggest moves in premarket trading:Walmart — Shares added as much as 1% after the big-box retailer raised its full-year forecast and reported an earnings and revenue beat. Adobe — The software company added about 2% after Bank of America upgraded shares to buy from neutral. Hawaiian Electric — The utility company that oversees Maui Electric sank nearly 18% in premarket trading, continuing its slide over concerns of its potential liability in Maui's wildfires. On Wednesday, the Wall Street Journal reported Hawaiian Electric is in talks with firms that specialize in restructuring. VinFast Auto — Shares of the electric vehicle start-up fell nearly 5% in premarket trading as VinFast's stock searches for its level after debuting earlier this week.
Persons: Adobe, Cuban's, Wolfspeed, , Alex Harring, Jesse Pound, Michael Bloom Organizations: Walmart, Refinitv . Revenue, Cisco Systems, postmarket, Refinitiv, Revenue, Adobe, Bank of America, Maui Electric, Wall Street Journal, CVS, California, Drug Company, Amazon Pharmacy, BAE Systems Locations: Williston , Vermont, California
Blue Shield of California is teaming up with Mark Cuban's Cost Plus Drug Company and Amazon Pharmacy — turning away from traditional drug store chains and ditching in part health giant CVS — in a move to save on drug costs for its 4.8 million members. "I expect we're going to — when this ramps up completely — we're going to be saving $500 million a year," said Paul Markovich, CEO of Blue Shield of California. For Cost Plus, which sells drugs at 15% above wholesale prices, California Blue Shield is only the second insurer to sign with the online pharmacy since it launched in January 2022. "I think all payers realize that now that Cost Plus has made the price of medications transparent. The health insurer expects to launch the program for its members in 2025.
Persons: Mark Cuban's, Paul Markovich, Markovich Organizations: Drug Company, Amazon Pharmacy, CVS, Blue, of, Cross Locations: of California, California, Harrisburg , Pennsylvania
Shares of CVS Health plunged 9% on Thursday after Blue Shield of California said it will drop the company's pharmacy benefit management services and instead partner with Mark Cuban's Cost Plus Drug Company and Amazon Pharmacy to save on drug costs for its nearly 5 million members. Blue Shield will now work with five different companies to provide "convenient, transparent access to medications while lowering costs." Blue Shield CEO Paul Markovich said the plan, which is scheduled to fully launch in 2025, could save the company up to $500 million annually. Cuban's Cost Plus Drug Company will provide access to low-cost medications through retail pharmacies. Blue Shield will retain CVS Caremark for its specialty pharmacy services, which provide specialized therapies and counseling to patients suffering from complex disorders.
Persons: Mark Cuban's, Caremark, Paul Markovich, Michael DeAngelis, Centene Organizations: CVS Health, Drug Company, Amazon Pharmacy, UnitedHealth, CVS, Abarca, Blue, CNBC Locations: New York, California
The Mississippi Supreme Court says it will not remove NFL Hall of Famer Brett Favre as a defendant in a civil lawsuit that seeks to recover millions of dollars of misspent welfare money meant to help some of the poorest people in the United States. Favre asked the Supreme Court to overturn Peterson's decision. Attorneys for the state responded that Favre took $1.1 million in TANF money from Nancy New "for speeches he never made." State attorneys wrote in March that Favre's attorneys had given the court "a long press release" rather than legal arguments in trying to get him out of the lawsuit. The state attorneys wrote in May that the Mississippi Supreme Court does not grant appeals "based on whether a defendant is famous, or on speculations about the plaintiff's motives, or on fact disputes."
Persons: Brett Favre, of Famer Brett Favre, Favre, Faye Peterson, Favre's, Nancy New Organizations: NFL, The Mississippi Supreme, of Famer, Mississippi Department of Human Services, Hinds, of Human Services, Human Services, Nancy, USM Athletic Department Locations: Santa Clara, Calif, The Mississippi, United States, Mississippi
TD Cowen reiterates Home Depot as outperform TD said the stock is best-in-class heading into earnings next week. " Deutsche Bank names Walmart and Ulta as top picks Deutsche said it sees upside to estimates for Walmart due to GLP-1 obesity drugs. Citi downgrades Petrobras to neutral from buy Citi downgraded the Brazilian petroleum company mainly due to political risks. " Bank of America reiterates Disney as buy Bank of America said it's standing by its buy rating on the stock after Wednesday's earnings and that its valuation is attractive. Bank of America reiterates Tesla as neutral Bank of America said it's standing by its neutral rating on the stock as cutting prices is keeping margins under pressure. "
Persons: Morgan Stanley, TD Cowen, Ulta, Oppenheimer, Freshpet, Jefferies, GPN, Penn, Truist, PENN, Goldman Sachs, Goldman, Davidson, Nio, NIO, Tesla, TSLA Organizations: Nvidia, NVIDIA, Deutsche Bank, Walmart, Deutsche, Citi, Petrobras, Bank of America, Disney, DIS, Jefferies, ESPN, Networks, Holdings, DA, of America Locations: Palo Alto
Investment bank Bernstein picked a raft of Chinese and Indian stocks in sectors including tech, pharma and IT, naming them on a list of "opportunities for value, growth and quality." "We believe that it is time to increase risk exposure in China by adding more high volatility stocks," the analysts wrote. "GPT can accelerate development of its business and give the company the tailwinds to reshape its strategy," the analysts wrote. Indian stock picks Indian drug company Sun Pharma is also on Bernstein's list of outperform-rated stocks. In India … they have outperformed the market," the analysts wrote, and they also praised Sun's specialty drug portfolio in the U.S.
Persons: Bernstein, Rupal Agarwal, India … Organizations: pharma, " Pharma, Wuxi, Baidu, Sun Pharma, U.S, Infosys, Reliance Industries, New Locations: Asia, China, Wuxi, India, Bangalore, New Commerce
Goldman Sachs highlighted a slew of stocks on its U.S. "conviction list — director's cut" selection, naming several "most differentiated buy recommendations," in an August 1 research note. Goldman's "directors' cut" is a list of stocks chosen by its U.S. research analysts and managers. The bank collated a list of "top ideas that offer a combination of conviction, a differentiated view and high risk-adjusted returns," before shortlisting 20 to 25 names. Industrial names on the bank's "directors' cut" list included several that Goldman said are benefiting from post-pandemic demand, such as building services firm Johnson Controls and waste disposal company Republic Services . Goldman's note also included a "What has worked" heading, under which its analysts named three stocks.
Persons: Goldman Sachs, Goldman's, Goldman, Johnson, Baker Hughes, – EBITDA, JB Hunt, Jordan Alliger, Michael Bloom Organizations: Apple, Healthcare, Merck, Services, Consumer, Body, International, Chevron, JPMorgan
Bank of America has named multiple European "top stocks" it says are of "good value, low risk" and "high quality." All of them turned up on "recession screens" for July, in a market BofA described as a being in a recession style cycle. The euro zone entered recession in the first quarter of the year, according to economic data released last month. Energy companies the bank named include Shell , German company EON and Italian firm Enel . During recession cycles, investors have benefited from being overweight on value stocks rather than growth stocks, as well as on stocks with strong balance sheets and lower risk, BofA added, citing research based on a testing period between 1992 and 2003.
Persons: EON, Reckitt, BofA, — CNBC's Michael Bloom Organizations: of America, Roche, Novartis, Sanofi, GSK, Volvo, Benz, Ferrari . Energy, Shell, Unilever, Lysol, Hikma Pharmaceuticals, Auto Locations: Howden
Kroger is working with Mark Cuban's Cost Plus Drugs to offer some prescriptions at its pharmacies. Cost Plus customers can now pick up their drugs at one of 2,000 Kroger pharmacies. Patients who get their drugs through Cost Plus Drugs can now pick them up at one of 2,000 stores operated by Kroger, Cost Plus tweeted on Wednesday. He started Cost Plus in 2022. Cost Plus Drugs buys drugs directly from the manufacturer and ships them to patients at a 15% markup plus pharmacy fees.
Persons: Kroger, Mark Cuban's, Mark, — Mark, It's Organizations: Service, Kroger, — Mark Cuban, Plus Drug, Dallas Mavericks NBA, Costco, Walmart, Albertsons, Intelligence Locations: Wall, Silicon, Ralph's, Cuban
Overall, an FDA spokesperson says that “trial participants should reflect the population that is likely to use the product if FDA-approved. Across a group of 10 novel cancer therapies approved by the FDA in 2022, data shows the share of Black participants in key clinical trials ranged from zero to 8%. “Access to clinical trials at the sites where patients are living is an important factor to changing the landscape,” Perez says. “There’s been some novel ways to recruit patients, like using the church and using barbershops to recruit Black patients,” Cho says. Haddad says a number of Mayo patients were receiving experimental therapies through clinical trials when the pandemic began.
Persons: , Leslie Cho, Robert, Suzanne Tomsich, it’s, Edith Perez, Bolt Biotherapeutics, ” Perez, Eli Lilly, , Lilly “, they’ll, Craig Lipset, ” Lipset, ” Cho, “ There’s, Dr, Tufia Haddad, Haddad, Mayo, Jennifer Dahne, Larry Hawk, Hawk Organizations: Women’s Cardiovascular, Cleveland Clinic, of Cardiovascular Medicine, U.S . Food, Drug Administration, FDA, , Health, Committee, Cancer, Janssen Pharmaceuticals, Centers for Disease Control, Research Alliance, Mayo Clinic Comprehensive Cancer Center, Care, Mayo’s Center for Digital Health, College of Medicine, Medical University of South, of Psychology, University, Buffalo, SUNY, JAMA Locations: U.S, Chicago, Dallas, Los Angeles, Philadelphia, Los Angeles County, Alaska, , Medical University of South Carolina
JPMorgan has named a raft of European stocks it described as having high yields, strong balance sheets and safe dividends, such as BT Group , Bayer and Sainsbury's . In a July 3 note detailing its outlook for the second half of the year, analysts led by Mislav Matejka stated: "Our pecking order for 2H is: bullish on Staples, Utilities, Telecoms and Healthcare, European Energy could hold up well." The bank said international markets had outperformed the U.S., adding that it sees a "significant valuation discount in International vs US stocks." Its European Sustainable yield basket — made up of 40 "high- and sustainable-yielding European stocks, with safe dividends and strong balance sheets" — include stocks across the bank's preferred sectors. JPMorgan also chose a number of "cheap" global sectors it expects to outperform, including telecoms, energy and staples.
Persons: Mislav Matejka, JPMorgan's, J Sainsbury, Banks, Michael Bloom Organizations: JPMorgan, BT Group, Bayer, Sainsbury's, Healthcare, European Energy, International, Novartis, Sanofi, Telefonica, Telia Locations: Staples, Utilities, Swiss, Norwegian, Spanish, Swedish, Europe
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