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☆ Funds punished for owning too few Nvidia shares after stunning 230% rally
▼ + stars: | 2023-08-30 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

Yet many funds hold less of the stock in their portfolios compared with Nvidia's weight in key equity indexes, making it tougher for them to beat their benchmarks. Among those funds that held a below-average weight in Nvidia, 85% underperformed the index so far this year, Morningstar's data showed. Nvidia's valuation has been a primary reason keeping some investors away, while others are wary of buying in after the stock’s mammoth 230% run this year. Nvidia shares marked a record high closing price on Tuesday, in the wake of a strong earnings report last week. "The stock has had an amazing rally, but it would be totally normal for it to correct 20-25%."

Persons: Robert Galbraith, Refinitiv, ”, Chuck Carlson, Dow, Goldman Sachs, Goldman, Morgan Stanley, Robby Greengold, Jeremy Schwartz, Schwartz, Michael Purves, Purves, ” Purves, Lewis Krauskopf, Ira Iosebashvili, Matthew Lewis Organizations: Nvidia, REUTERS, Nasdaq, Horizon Investment Services, Reuters Graphics Reuters, Big, Microsoft, Dow Jones, Apple, U.S, Mutual, Morningstar, Tallbacken Capital Advisors, Thomson Locations: Santa Clara , California, Big Tech, New York

REUTERS/Robert Galbraith/File Photo Acquire Licensing RightsORLANDO, Florida, Aug 30 (Reuters) - To buy back, or not to buy back. The highest U.S. interest rates in over 20 years coupled with Wall Street's remarkable resilience has brought an old boardroom dilemma into sharp focus: are share buybacks worth it? Ditto Apple, Chevron, Alphabet and Wells Fargo, which this year have announced buybacks of $90 billion, $75 billion, $70 billion and $30 billion, respectively. Figures from Refinitiv show that S&P 500 companies spent more than $6 trillion on stock buybacks in the decade through 2022. Reuters Image Acquire Licensing Rights(The opinions expressed here are those of the author, a columnist for Reuters.)

Persons: Robert Galbraith, Joe Kleven, Ali Ragih, Nicholas Guest, Kothari, Parth Venkat, Jamie McGeever Organizations: Nvidia, REUTERS, Rights, U.S, Chevron, Mega Tech, Marathon Petroleum, VerityData, Reuters, Apple, Microsoft, Google, Corporate, Cornell University, S.P, Massachusetts Institute of Technology, University of Alabama, Thomson, & ' $ Locations: Santa Clara , California, Rights ORLANDO , Florida, Wells, YCharts, VerityData, U.S, underperformed

☆ FTC suspends challenge to block Amgen's $27.8 billion deal for Horizon Therapeutics
▼ + stars: | 2023-08-26 | by ( ) www.reuters.com time to read: +1 min

An Amgen sign is seen at the company's office in South San Francisco, California October 21, 2013. REUTERS/Robert Galbraith/File Photo Acquire Licensing RightsAug 26 (Reuters) - The U.S. Federal Trade Commission (FTC) has suspended its challenge of Amgen's (AMGN.O) $27.8 billion purchase of Horizon Therapeutics (HZNP.O), allowing the FTC to consider whether the agency should settle the case, a filing late on Friday showed. The FTC filed a lawsuit on May 16 aimed at stopping the transaction in a rare move to block a large pharmaceutical deal. Amgen and Horizon Therapeutics did not immediately respond to a Reuters' request for comment. Reporting by Urvi Dugar in Bengaluru; editing by Jason Neely and Diane CraftOur Standards: The Thomson Reuters Trust Principles.

Persons: Robert Galbraith, Urvi, Jason Neely, Diane Craft Organizations: REUTERS, U.S . Federal Trade Commission, Horizon Therapeutics, FTC, Horizon, Thomson Locations: South San Francisco , California, Oaks , California, Bengaluru

☆ Major indexes fall 1%, focus shifts to upcoming Powell speech
▼ + stars: | 2023-08-24 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Shares of Nvidia (NVDA.O) ended barely higher after they hit a record high early in the session. All of the major S&P 500 sectors were down on the day, however, and an index of semiconductors (.SOX) dropped 3.4%. Reuters GraphicsAmong the day's decliners, Dollar Tree (DLTR.O) shares dropped 12.9% after the retailer forecast annual profit largely below estimates. The S&P 500 posted 10 new 52-week highs and 13 new lows; the Nasdaq Composite recorded 35 new highs and 220 new lows.

Persons: Robert Galbraith, Jerome Powell's, Powell's, it's, Jay Powell, Jake Dollarhide, Patrick Harker, Amruta Khandekar, Shreyashi Sanyal, Shristi, Savio D'Souza, Shinjini Ganguli, Deepa Babington Organizations: Nvidia, REUTERS, Dow, Nasdaq, Federal, Longbow, Management, Dow Jones, Treasury, Philadelphia Fed, CNBC, Reuters Graphics, NYSE, Thomson Locations: Santa Clara , California, Jackson Hole , Wyoming, Tulsa , Oklahoma, Bengaluru

☆ Wall St ends down sharply, focus shifts to upcoming Powell speech
▼ + stars: | 2023-08-24 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. All of the major S&P 500 sectors were down on the day, however, and an index of semiconductors (.SOX) also dropped. "As much as investors want to focus on Nvidia and want to focus on tech - and it's been a good year so far - this is still a market that is Fed obsessed. The market had gained along with Nvidia this week ahead of the company's report on hopes that its forecast could extend this year's artificial intelligence tech stock rally. Reuters GraphicsAmong the day's decliners, Dollar Tree (DLTR.O) shares dropped after the retailer forecast annual profit largely below estimates.

Persons: Robert Galbraith, Jerome Powell's, Powell's, it's, Jay Powell, Jake Dollarhide, Patrick Harker, Amruta Khandekar, Shreyashi Sanyal, Shristi, Savio D'Souza, Shinjini Ganguli, Deepa Babington Organizations: Nvidia, REUTERS, Nasdaq, Federal, Dow Jones, Longbow, Management, Treasury, Philadelphia Fed, CNBC, Reuters Graphics, Thomson Locations: Santa Clara , California, Jackson Hole , Wyoming, Tulsa , Oklahoma, Bengaluru

☆ Nasdaq futures rally as Nvidia's blowout forecast boosts AI stocks
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +3 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Nasdaq 100 e-minis were up 172 points, or 1.13% and S&P 500 e-minis were up 21.75 points, or 0.49% at 5:28 a.m. "It is clear...that AI demand is still outstripping supply," Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note. "Within the tech sector, we think software and internet stocks are best positioned to ride the next wave of the technology cycle and the broadening of AI demand." Splunk Inc (SPLK.O) gained 13.9% after the data analytics software maker forecast third-quarter revenue above market estimates on expectations of AI-related spending.

Persons: Robert Galbraith, Mark Haefele, Jerome Powell, Amruta Khandekar, Shreyashi Sanyal, Savio D'Souza, Shinjini Organizations: Nvidia, REUTERS, Dow, Nasdaq, UBS Global Wealth Management, Microsoft, Palantir Technologies, Micro Devices, Marvell Technology, Semiconductor, Europe's ASM, BE Semiconductor, ASML, Investors, Federal Reserve, U.S, Treasury, Boeing, Splunk Inc, Thomson Locations: Santa Clara , California, United States, Jackson, U.S, Bengaluru

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. The reports came ahead of a speech by Fed Chair Jerome Powell at an annual central bank summit in Jackson Hole on Friday that would offer more clues on the direction for the U.S. interest rates. "The Jackson Hole last year was not good for markets. So you've got a little bit of a down shift into a wait-and-see mode to ascertain what Powell is going to sound like this year at Jackson Hole," said Hogan. Advancing issues outnumbered decliners by a 1.29-to-1 ratio on the NYSE and for a 1.29-to-1 ratio on the Nasdaq.

Persons: Robert Galbraith, Jerome Powell's, there's, Hogan, Jerome Powell, Jackson, you've, Powell, Amruta Khandekar, Shreyashi Sanyal, Shristi, Savio D'Souza, Shinjini Organizations: Nvidia, REUTERS, Dow, Nasdaq, Federal, Riley, Microsoft, Apple Inc, Investors, Labor Department, Reuters, Traders, Dow Jones, Boeing, NYSE, Thomson Locations: Santa Clara , California, Jackson, Bengaluru

☆ Investors look to AI-darling Nvidia's earnings as US stocks rally wobbles
▼ + stars: | 2023-08-23 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

REUTERS/Robert Galbraith/File Photo Acquire Licensing RightsNEW YORK, Aug 23 (Reuters) - Bullish investors are hoping Wednesday's earnings report from chip heavyweight Nvidia (NVDA.O) can rejuvenate a U.S. stocks rally that has stumbled in recent weeks. The market's turbulence is intensifying focus on Nvidia's fiscal second quarter report, due after market close on Wednesday. Following that report, the S&P 500 technology sector (.SPLRCT) rallied 8% over the next five days. Signs that the central bank intends to hold rates around current levels for longer than investors had anticipated could further weigh on stocks. In a Monday note, Goldman analysts said an equal-weighted basket of those 11 stocks had returned 69% so far in 2023, outpacing a 7% gain for the overall equal-weight S&P 500.

Persons: Robert Galbraith, Anthony Saglimbene, Chuck Carlson, Jerome Powell, Goldman Sachs, Goldman, Lewis Krauskopf, Saqib Iqbal Ahmed, Ira Iosebashvili, Matthew Lewis Organizations: Nvidia, REUTERS, Apple, Microsoft, Big Tech, Ameriprise, Reuters, Societe Generale, Horizon Investment Services, Nasdaq, Federal, NVDA, Goldman, Thomson Locations: Santa Clara , California, U.S, Jackson Hole , Wyoming, outpacing, New York

☆ Nvidia shares up on hopes of strong results powering another AI rally
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Shares of the most valuable chip company had briefly scaled a record high in the previous session, but ended 2.8% lower as overall markets slipped. Investors expect upbeat results from Nvidia, whose shares are the top performer on S&P 500 this year, to revive a stocks rally that has struggled in recent weeks. Investors will be looking at sales at Nvidia's data center unit, home to its prized H100 chip used in AI. "Anything less than absolutely fantastic could trigger a sharp downside correction in Nvidia's stock price," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Persons: Robert Galbraith, AJ Bell, Russ Mould, Ipek Ozkardeskaya, Medha Singh, Arun Koyyur Organizations: Nvidia, REUTERS, Reuters, Apple, Swissquote Bank, Thomson Locations: Santa Clara , California, Bengaluru

☆ Lucas Glover: How a former Navy SEAL helped golfer overcome 10 years of yips and become the sport’s most in-form player
▼ + stars: | 2023-08-18 | by ( Jack Bantock | Don Riddell | ) edition.cnn.com time to read: +6 min

In 2009, Glover was crowned US Open champion and became the world’s 15th best-ranked golfer. It was time to call in help, and that support arrived in the shape of former Navy SEAL Jason Kuhn. Keyur Khamar/PGA TOUR/Getty ImagesHaving first met with Kuhn in May, Glover began to work with the ex-Navy SEAL shortly after. Glover has a perfect record at the Presidents Cup, triumphing in 2007 and 2009, with Johnson his teammate at both tournaments. The Presidents Cup is a biennial competition between Americans and an international team open to players outside the United States and Europe.

Persons: Lucas Glover, Scotsman Tommy Armour, Ernie Els, Danielle Kang, Bernhard Langer, Glover, ” Glover, CNN Sport’s Don Riddell, “, Mike Segar, Jason Kuhn, Kuhn, Tyler Matzek, Keyur Khamar, –, It’s, he’s, that’d, ”, …, ” Ryder, – Zach Johnson, Ryder, Johnson, I’ve, – I’ve, Robert Galbraith, Reuters Scottie Scheffler, Wyndham Clark, Patrick Cantlay, Brian Harman, Brooks Koepka, Max Homa – Organizations: CNN, Scotsman, Bethpage, Reuters, NCAA Division, Major League Baseball, NCAA, MLB, Navy, Atlanta Braves, ex, Wyndham Championship, FedEx St, Jude, BMW, US Ryder, Rome, US Team, Harding, Golf Club, PGA of America, Team USA, triumphing Locations: Georgia, New York, Illinois, San Francisco , California, Italy, Frisco , Texas, United States, Europe

People walk beneath a Citibank branch logo in the financial district of San Francisco, California July 17, 2009. REUTERS/Robert Galbraith/File Photo Acquire Licensing RightsWASHINGTON, Aug 17 (Reuters) - Banking group Citibank (C.N) was subpoenaed on Thursday by Republican-led U.S. House of Representatives Judiciary Committee Chair Jim Jordan for a congressional probe into alleged data sharing by banks with the FBI. Panels in the Republican-led chamber are probing major banks over sharing Americans' private financial data with the FBI without legal process for transactions made in the Washington, D.C., area around Jan. 6, 2021, Jordan said in a statement on Thursday. The House Judiciary panel said it wrote to Citibank in June requesting "voluntary cooperation to determine the extent to which banks illegally supplied the FBI with Americans' financial data." Congress eventually certified the election results even as Trump continued repeating his false assertion that he won those elections.

Persons: Robert Galbraith, Jim Jordan, Jordan, Donald Trump, Joe Biden, Trump, Kanishka Singh, Jasper Ward, Chris Reese Organizations: Citibank, REUTERS, Rights, Banking, Republican, House, FBI, D.C, U.S, Capitol, Democrat, Republicans, Thomson Locations: San Francisco , California, Washington

☆ Nvidia launches new AI chip configuration
▼ + stars: | 2023-08-08 | by ( Max A. Cherney | ) www.reuters.com time to read: +2 min

REUTERS/Robert Galbraith/File PhotoAug 8 (Reuters) - Nvidia (NVDA.O) announced a new configuration on Tuesday for its advanced artificial intelligence chips that is designed to speed generative AI applications. The configuration is optimized to perform AI inference functions that effectively power generative AI applications such as ChatGPT. Nvidia's Grace Hopper Superchip design stitches together one of the company's H100 graphics processing units (GPU) with an Nvidia-designed central processor. The underlying AI models that power the generative AI apps that are capable of producing human-like text and images continue to grow in size. Nvidia plans to sell two flavors: a version that includes two chips that customers can integrate into systems, and a complete server system that combines two Grace Hopper designs.

Persons: Robert Galbraith, Grace Hopper Superchip, Ian Buck, Nvidia's Grace Hopper, Buck, Grace Hopper, Max A, Marguerita Choy Organizations: Nvidia, REUTERS, Thomson Locations: Santa Clara , California, San Francisco

☆ Allstate posts bigger loss as catastrophe claims rise
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Robert Galbraith/File PhotoAug 1 (Reuters) - Insurer Allstate Corp (ALL.N) posted a bigger-than-expected quarterly loss on Tuesday as claims related to higher catastrophic events offset gains from strong investment income. The insurer's adjusted second-quarter loss widened to $4.42 per share from 75 cents a year earlier. "Severe weather resulted in 42 catastrophe events, where we remediated losses for 160,000 customers," Allstate CEO Tom Wilson said in a statement. The insurer's catastrophe losses in the quarter were $2.7 billion, compared to $1.11 billion a year earlier. Allstate posted an underlying combined ratio of 92.9%, compared to 93.4% a year earlier.

Persons: Robert Galbraith, Tom Wilson, Sri Hari, Maju Samuel Organizations: Allstate, REUTERS, Allstate Corp, Analysts, Sri, Thomson Locations: San Francisco , California, United States, Bengaluru

SummaryCompanies Plans to file trial data with FDAComments sooth some investor concernsAbsence of "clinically meaningful" in interim trial data worried investorsLONDON, July 28 (Reuters) - AstraZeneca Chief Executive Pascal Soriot said on Friday the company is "very encouraged" by interim data from a key lung cancer drug trial, but he did not explain why the company had not declared results as "clinically meaningful". The drugmaker's (AZN.L) shares fell by as much as 8% earlier this month after the company released interim data from the late-stage clinical trial called TROPION-Lung01 testing an experimental precision drug called datopotamab deruxtecan. Speaking to media on Friday after the company released better-than-expected quarterly results, Soriot said people would understand when full results are released why the company did not use that description, but he did not comment further. The company said on Friday it will continue with its plan to file data from the trial with the U.S. Food and Drug Administration (FDA), soothing some investor concerns. In a briefing with analysts, Susan Galbraith, executive vice president of oncology R&D, said the FDA response to the data so far had been "encouraging".

Persons: Pascal Soriot, Soriot, Susan Galbraith, Maggie Fick, Josephine Mason, David Evans, Susan Fenton Organizations: LONDON, AstraZeneca, U.S . Food, Drug Administration, FDA, U.S, Thomson

☆ Dish's Charlie Ergen looks to merge Dish and EchoStar, Semafor reports
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] Dish Network Chairman Charlie Ergen attends the Google's annual developers conference in San Francisco, California May 20, 2010. REUTERS/Robert Galbraith/File PhotoJuly 6 (Reuters) - Dish Network (DISH.O) Chairman Charlie Ergen is considering merging the two halves of his telecom empire, Dish and EchoStar (SATS.O), news publication Semafor reported on Thursday, citing people familiar with the matter. Dish and EchoStar did not immediately respond to Reuters' requests for comments. Dish's shares were 5% lower in afternoon trade while EchoStar's stock was down 3.4% amid weaker broader market. In 2008, EchoStar Communications, which was founded by Ergen as a satellite television equipment distributor in 1980, changed its name to Dish Network and spun off its technology arm as a new company named EchoStar Corp.

Persons: Charlie Ergen, Robert Galbraith, Yuvraj Malik, Sriraj Organizations: Dish, REUTERS, EchoStar Communications, Ergen, Dish Network, EchoStar Corp, Thomson Locations: San Francisco , California, Bengaluru

☆ Ron Insana says an AI bubble may be forming, but we're not there yet
▼ + stars: | 2023-06-09 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

How to trade it Let's remember the elements of a bubble, as defined by many market historians who have written about such financial market phenomena (myself included). The public increasingly has been buying related tech stocks and associated ETFs, but we have yet to see the single-minded focus of the entire stock buying world come to bear on AI stocks. In 1999 alone, some 456 stocks went public at the height of the internet mania. If there is to be a bubble in AI, it's the early days. Also, "easy money" from the Federal Reserve, a key component of financial frenzies, is not fueling speculation in publicly traded AI shares, or any other asset class for that matter.

Persons: Jaap Arriens, Charles MacKay, John Kenneth Galbraith, Edward Chancellor, Charles Kindleberger, David Faber Organizations: Nurphoto, Nvidia, Microsoft, Google, Oracle, Adobe, Fund, Nasdaq, CNBC, Federal Reserve Locations: Sea, Mississippi, England, France

☆ AstraZeneca's Tagrisso slashes death risk in certain post-surgery lung cancer patients
▼ + stars: | 2023-06-04 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

LONDON, June 4 (Reuters) - AstraZeneca's lung cancer therapy, Tagrisso, cut the risk of death by more than half in patients with a certain form of lung cancer who were diagnosed early enough to have their tumour surgically removed, trial data showed. The drug has regulatory approvals across multiple geographies for certain patients with so-called non small cell lung cancer (NSCLC) who have a mutation of the EGFR gene. In the trial, Tagrisso or a placebo was given to patients to assess whether the AstraZeneca therapy could keep their cancer at bay. An estimated 88% of patients treated with Tagrisso were alive at five years compared to 78% on placebo, trial data also showed. AstraZeneca is also expecting to provide details on the impact of combining Tagrisso with chemotherapy in patients with advanced EGFR-mutated lung cancer later this year.

Persons: Tagrisso, Susan Galbraith, Dave Fredrickson, Natalie Grover, Angus MacSwan Organizations: American Society of Clinical Oncology, AstraZeneca, Reuters, Thomson Locations: Swedish, London

REUTERS/Robert GalbraithCompanies Novartis AG FollowAmgen Inc Follow(Reuters) - Amgen Inc sued Novartis AG's Sandoz in New Jersey federal court Monday, accusing Sandoz's proposed versions of its multibillion-dollar bone-strengthening drugs Prolia and Xgeva of infringing several patents. Amgen asked the court to block Sandoz's biosimilars of the drugs until its patents expire. Thousand Oaks, California-based Amgen sold $3.6 billion worth of Prolia and $2 billion worth of Xgeva last year, according to a company report. The FDA accepted Sandoz's application for biosimilar versions of the Amgen biologic drugs — which are derived from living cells, unlike traditional small-molecule drugs — in February. Amgen said the proposed biosimilars infringe 21 patents covering Prolia and Xgeva.

☆ You can own a private island off the coast of Scotland for $190,000 — nearly half the median price of a home in the US
▼ + stars: | 2023-04-27 | by ( Jordan Hart | Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

An island off the coast of Scotland is currently on sale for $190,000. The price tag is less than half the median cost to buy a home in the US, per data from the National Association of Realtors. Barlocco Island is located six miles away from the nearest town, and over an hour away from the nearest train station. Barlocco Island, located off the coast of Scotland. While the owner's identity remains private, Galbraith told Insider the island has been in the same family for several generations.

☆ Scottish Island for Sale, Amenities Not Included
▼ + stars: | 2023-04-23 | by ( Remy Tumin | ) www.nytimes.com time to read: 1 min

For sale: An uninhabited, 25-acre island with pristine views of the Scottish coastline. The catch: Reaching the island is challenging, and staying there for any length of time even more so. Barlocco Island was listed for sale on Thursday by the Scottish real estate firm Galbraith. It is only accessible by boat or, at low tide, by all-terrain vehicle or foot over a rock causeway. While there are no dwellings or buildings on the island, there is a pebble beach and a flood pond where rainwater could gather in extreme rainfall and provide water for livestock and wildlife.

☆ Uninhabited Scottish island could be yours for $190,000
▼ + stars: | 2023-04-21 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —If you’ve ever fancied escaping the grind of daily life and heading to a remote island with no other inhabitants, now could be your chance. Situated just off the southern coast of Scotland, Barlocco Island is up for sale, priced at offers over £150,000 ($190,000). Barlocco Island is a haven for wildlife. At low tide, the island can be reached on foot, by tractor or quadbike. “We have witnessed strong demand from domestic and international parties for entire private islands having handled the sale of several in Scotland,” Edgar said.

☆ The stock market rally in 2023 has added $213 billion to the wealth of the world's top 10 billionaires
▼ + stars: | 2023-04-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

A strong start to the stock market this year has helped reverse some of the big losses billionaires saw in 2022. So far this year, the world's top 10 billionaires added a collective $213 billion to their net worth. MARTIN BUREAU/AFP via Getty ImagesNet Worth: $92.8 billion2023 Gain: $21.3 billionSource of Wealth: L'Oreal9. Elon MuskElon Musk Gilbert Carrasquillo/GC ImagesNet Worth: $180 billion2023 Gain: $43.2 billionSource of Wealth: Tesla, SpaceX, Twitter1. Bernard ArnaultEric Piermont/Getty ImagesNet Worth: $210 billion2023 Gain: $47.8 billionSource of Wealth: LVMH Moet Hennessy Louis Vuitton

☆ Odd Times Call for Unconventional Wisdom
▼ + stars: | 2023-04-13 | by ( Karl Rove | ) www.wsj.com time to read: 1 min

In his 1958 book, “The Affluent Society,” economist John Kenneth Galbraith assailed what he called “conventional wisdom,” his caustic term for “beliefs that are at any time assiduously, solemnly and mindlessly traded between the conventionally wise.” Today, we’re constantly bombarded by news of the latest high jinks of candidates and officeholders, and for each new political drama there’s new conventional wisdom on what it means. But what if much of it is wrong?

If successful, Amgen would claim ownership of all antibodies that inhibit the PCSK9 protein, the mechanism of action for both Repatha and Praluent. Other companies could then do the same with their own antibody treatments in other disease areas. The case might also affect newer technologies used in medicine, such as CRISPR gene editing and messenger RNA, she said. A Washington, D.C.-based federal appeals court that covers U.S. patent cases invalidated Amgen's patent claiming ownership of all PCSK9 inhibitors as a whole in 2021. Amgen sued Sanofi and Regeneron in 2014.

☆ Top Wall Street analysts pick these stocks for attractive returns
▼ + stars: | 2023-03-05 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

In these tough times, investors would be well advised to find stocks that are positioned to navigate a potential economic downturn. To help with the process, here are five stocks chosen by Wall Street's top professionals, according to TipRanks, a platform that ranks analysts based on their past performance. However, the company issued conservative guidance for fiscal 2023 due to the impact of high inflation on its low-to-moderate income customers. Further, he thinks that Kontoor's fiscal 2023 outlook "will likely prove conservative." Poser raised his fiscal 2023 and 2024 earnings per share estimates, reiterated his buy rating for Kontoor Brands and increased the price target to $60 from $53.

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