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These are the most overbought stocks as November kicks off
  + stars: | 2024-11-01 | by ( Pia Singh | In | ) www.cnbc.com   time to read: +4 min
Investors have been accumulating shares of several big-name companies, from GE Vernova to United Airlines , during the market's recent dip. But those and other overbought stocks could be due for a pullback, according to one popular yardstick. Strong earnings from tech giants Amazon and Intel late Thursday were partly responsible for equity gains on Friday, as investors still look to megacap tech stocks for leadership. CNBC Pro screened for stocks that are considered technically overbought on the basis of their 14-day relative strength index, or RSI. Companies with a 14-day RSI above 70 are often regarded as overbought, signaling a pullback may be ahead, while a 14-day RSI below 30 often suggests a stock is oversold and could see future upside.
Persons: Nicole DeBlase, DeBlase, FactSet, Estée Lauder, Dr Pepper Organizations: GE Vernova, United Airlines, Dow, Nasdaq, Amazon, Intel, CNBC Pro, Companies, GE, FactSet, Electric, Deutsche Bank, Pharmaceuticals, eBay Locations: United, U.S, Chicago, China
China related stocks were on the move Tuesday after the People's Bank of China said it will cut interest rates. What the Jefferies downgrade misses is the market is giving Starbucks a pass as Niccol builds his team and makes changes. Truist downgraded Club holding Costco to a hold rating ahead of earnings, which are out after Thursday's close. The analysts still have a hold-equivalent rating on Club holding Home Depot but boosted their price target to $400 per share. China related stocks were on the move Tuesday after the People's Bank of China said it will cut interest rates.
Persons: Brian Niccol, Chipotle, Jefferies, Truist, Salesforce, Piper Sandler, Oppenheimer, Regeneron, Eli Lilly, Pinterest, , Jeff Marks, Jim Cramer's, Jim Cramer, Jim Organizations: People's Bank of, Starbucks, Jefferies, Costco, Walmart, Analysts, Barclays, Constellation Brands, Oppenheimer, Justice Department, Visa, Bloomberg, Jim Cramer's Charitable, CNBC Locations: China, People's Bank of China, Japan
Quarterly sales came in at 14.3 billion Swiss francs ($15.9 billion), the Swiss drugs and diagnostics maker said in a statement, broadly in line with analyst estimates. A high-dose version of Eylea for less frequent injections won U.S. approval in August, creating doubt among analysts that a string of forecast-beating Vabysmo sales can continue. CEO Thomas Schinecker - who is keen to restore Roche's drug development record - said he was looking to acquire drug assets in all stages of development but that there was no rush. He pointed to 10% sales growth during the quarter, excluding currency headwinds and the slump in COVID sales. However, it predicted a less pronounced decline in sales of COVID-19 products of about 4.5 billion Swiss francs, from a previous estimate of a drop of 5 billion francs.
Persons: drugmaker Roche, Arnd, Roche, Regeneron, Thomas Schinecker, Schinecker, Ludwig Burger, Friederike Heine, Elaine Hardcastle Organizations: REUTERS, Bayer, Thomson Locations: Basel, Switzerland, COVID, Swiss
Regeneron Pharmaceuticals (REGN) rose Monday after the Food and Drug Administration approved a higher-dose formulation of Eylea, the company's macular degeneration treatment. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. CNBC's Jim Cramer said on "Squawk on the Street" that Regeneron is one of his favorite health-care names, describing Eylea as "a remarkable drug for macular degeneration." "I think being up [11 points] is not enough," Jim said as shares traded $11 higher. The CNBC Investing Club with Jim Cramer doesn't own Regeneron.
Persons: Jim Cramer's, CNBC's Jim Cramer, Leonard Schleifer's, Jim, Jim Cramer doesn't, Eli Lilly Organizations: Regeneron Pharmaceuticals, Food and Drug Administration, CNBC
Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCompanies Regeneron Pharmaceuticals Inc FollowAug 18 (Reuters) - The U.S. Food and Drug Administration approved a higher dose version of Regeneron Pharmaceuticals' (REGN.O) drug Eylea for treatment of a disease that is a leading cause of blindness among the elderly, the company said in a statement on Friday. Eylea is normally given in doses of 2 mg every eight weeks. Two late-stage trials had shown Eylea was as effective as the lower dose version when given at 8 mg at longer intervals without any additional safety issues. In June, the FDA declined to approve the higher dose version of Eylea and said it had outstanding questions, citing an ongoing review of inspection findings at a third-party filler of the higher dose.
Persons: Andrew Kelly, retinopathy, Regeneron, Eylea, Jahnavi, Sandra Maler, Rosalba O'Brien Organizations: Food and Drug Administration, FDA, REUTERS, Regeneron Pharmaceuticals, U.S . Food, Drug Administration, Thomson Locations: White Oak , Maryland, U.S, Bengaluru
REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 18 (Reuters) - Regeneron Pharmaceuticals (REGN.O) said on Friday the U.S. health regulator approved its drug to treat a rare blood disease. The drug pozelimab, branded as Veopoz, would treat CHAPLE disease in adult and pediatric patients 1 year of age and older. Regeneron said the disease has fewer than 10 patients identified in the U.S. and estimates less than 100 patients worldwide. With Veopoz's approval, the company said the pre-approval inspection issues related to the marketing application of the higher dose of its blockbuster eye disease drug Eylea, or aflibercept, has been addressed. The FDA had in June declined to approve the higher-dose version following an inspection at third-party manufacturer Catalent (CTLT.N).
Persons: Brendan McDermid, Veopoz, Regeneron, 8mg, Evan Seigerman, Seigerman, Vaibhav Sadhamta, Khushi, Shilpi Majumdar Organizations: Regeneron Pharmaceuticals, REUTERS, U.S . Food, Drug Administration, Reuters, BMO Capital, FDA, Thomson Locations: Westchester, Tarrytown , New York, U.S, Bengaluru
The Regeneron Pharmaceuticals company logo is seen on a building at the company's Westchester campus in Tarrytown, New York, U.S. September 17, 2020. REUTERS/Brendan McDermid/File PhotoAug 3 (Reuters) - Regeneron Pharmaceuticals (REGN.O) expects a U.S. decision on a higher-dose version of its blockbuster eye disease drug Eylea in the third quarter, much earlier than market expectations, sending its shares up 5% on Thursday. The U.S. Food and Drug Administration declined to approve the higher-dose version in June following an inspection at third-party manufacturer Catalent (CTLT.N). Regeneron said it has been submitting manufacturing data required by the FDA on a rolling basis, and expects to finish the submissions by mid-August. Regeneron said the higher-dose Eylea was manufactured on the same line as pozelimab, its experimental drug being reviewed to treat a rare blood disease.
Persons: Brendan McDermid, Regeneron, Wells, Mohit Bansal, Bayer, Sanofi, Khushi, Sriraj Organizations: Regeneron Pharmaceuticals, REUTERS, U.S . Food, Drug Administration, FDA, Thomson Locations: Westchester, Tarrytown , New York, U.S, Eylea, Bengaluru
The pan-European STOXX 600 index (.STOXX) closed 0.7% higher, tracking overnight gains in Wall Street. Shares of Sage Group Plc (SGE.L) gained 5.1% to a 23-year high after J.P. Morgan upgraded its rating on the stock to "overweight" from "neutral". Shares of chip equipment maker ASML Holding (ASML.AS) rose 2.3% while Nordic Semiconductor (NOD.OL) jumped 6.4%, making technology (.SX8P) among the top European sectoral gainers. Semiconductor shares were in focus after a report stated the U.S. was considering new restrictions on exports of artificial intelligence chips to China. Also boosting the STOXX 600, Roche Holding (ROG.S) gained 1.5% after the U.S. health regulator declined to approve Regeneron's (REGN.O) Eylea drug.
Persons: Christine Lagarde, Jerome Powell, what's, Danni Hewson, AJ Bell, Morgan, Hewson, Roche, Morgan Stanley, Christian Klein, Matteo Allievi, Subhranshu Sahu, Sherry Jacob, Phillips, Alex Richardson Organizations: Sage Group, UBS, CS, . Federal, ASML, Nordic Semiconductor, Semiconductor, Carrefour, Credit Suisse, SAP, Thomson Locations: Wall, U.S, China, Swiss, Gdansk, Amruta, Bangalore
European shares rise as US data soothes economic slowdown fears
  + stars: | 2023-06-28 | by ( ) www.reuters.com   time to read: +1 min
June 28 (Reuters) - European shares climbed on Wednesday after robust U.S. data soothed concerns about a steep economic slowdown, while investors awaited commentary from central bankers at a forum later in the day for further policy direction. The pan-European STOXX 600 index (.STOXX) was up 0.5% by 0810 GMT, tracking Wall Street's gains overnight after data showed a rise in new orders for key U.S.-manufactured capital goods and heightened consumer confidence in June. Investors are keenly watching a panel discussion of central bankers in Sintra, including European Central Bank President Christine Lagarde, Federal Reserve Chair Jerome Powell and Bank of Japan Governor Kazuo Ueda. French supermarket chain Carrefour (CARR.PA) gained 3.1% after Morgan Stanley initiated coverage with an "overweight" rating. Reporting by Matteo Allievi in Gdansk and Amruta Khandekar in Bangalore; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.
Persons: Christine Lagarde, Jerome Powell, Kazuo Ueda, Morgan Stanley, Matteo Allievi, Subhranshu Sahu Organizations: Roche, Investors, European Central Bank, Bank of Japan, Carrefour, Thomson Locations: Sintra, Gdansk, Amruta, Bangalore
Goldman Sachs reiterates Snowflake as buy Goldman said it's standing by its buy rating after the company's investor day. JPMorgan reiterates Pepsi as overweight JPMorgan said Pepsi is a "safe haven" heading into earnings in July. Wells Fargo upgrades Pinterest to overweight from equal weight Wells Fargo said it sees "above-consensus revenue growth" for Pinterest. Deutsche Bank downgrades Walgreens to hold from buy Deutsche Bank downgraded the stock after its disappointing earnings results earlier this week. Deutsche Bank initiates Western Alliance as hold Deutsche Bank said the regional bank's "funding pressures persist."
Persons: Goldman Sachs, Goldman, Snowflake, it's, Wells, Wells Fargo, Daiwa downgrades Uber, EBITDA, Deere, Canaccord, Oppenheimer, Morgan Stanley, CarMax, Needham, CFRA, KeyBanc Organizations: Nvidia, JPMorgan, Pepsi, Nike, Netflix, Deutsche Bank, Walgreens, RBC, Western Alliance, KMX, Delta, Barclays, Bank of America, Old Dominion, of America, Dominion, ZoomInfo Technologies, Lincoln, EV Locations: China, NVDA, Canada, Old
Handful of price target bumps on Snowflake (SNOW) following the company's investor day. Canaccord also catching up on its price target, cutting it to $720 per share from $953. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: MoffettNathanson, Oppenheimer, Mills, downgrades, Canaccord, Wolfe, Jim Cramer's, Jim Cramer, Jim Organizations: Dow, Street Journal, Nvidia, Walgreens Boots Alliance, Deutsch Bank, Barclays, JPMorgan, Club, Nike, Electric, GE, Paris Airshow, CNBC Locations: China, downgrades, Wells Fargo, Wells
A view of the Regeneron Pharmaceuticals headquarters in Tarrytown, New York. Shares of Regeneron fell nearly 9% Tuesday after the U.S. Food and Drug Administration declined to approve a higher-dose version of the company's blockbuster eye disease treatment. Regeneron said the rejection was "solely due to an ongoing review of inspection findings at a third-party filler." That suggests the drug could potentially win approval down the road. But a delay won't help the company fight off threats to its Eylea drug franchise, which is facing competition from Roche Holdings ' eye drug, Vabysmo.
Persons: Regeneron Organizations: Regeneron Pharmaceuticals, U.S . Food, Drug Administration, Roche Holdings Locations: Tarrytown , New York, U.S
The Food and Drug Administration cited an ongoing review of inspection findings at a third-party filler of the higher dose for the decision. Eylea, which recorded $9.65 billion in global sales last year, has been hit since Roche's (ROG.S) rival treatment Vabysmo was approved last year for wet AMD. Two late-stage trials had shown Eylea was as effective as the lower dose version when given at 8 milligrams at longer intervals without any additional safety issues. The two trials included treatment of patients with wet AMD and diabetic macular edema (DME). An estimated 1.1 million people in the U.S. have wet AMD, while 1.2 million are estimated to have DME, according to Regeneron.
Persons: Vabysmo, Regeneron, Eylea, Raghav Mahobe, Krishna Chandra Eluri, Maju Samuel, Sriraj Organizations: Regeneron Pharmaceuticals, Drug Administration, FDA, AMD, biosimilars, Thomson Locations: U.S, Bengaluru
The drug recorded sales of $2.28 billion in the quarter, missing expectations of $2.43 billion, according to an average of six analysts' estimates polled by Refinitiv. The company has also been leaning on its anti-inflammatory drug Dupixent - a treatment currently approved for five indications including asthma and atopic dermatitis, or eczema. Quarterly sales of Dupixent, recorded by Regeneron's partner Sanofi (SASY.PA), rose about 37% to $2.49 billion, above expectations of $2.38 billion. Regeneron's total revenue of $3.16 billion beat estimates of $3 billion. Excluding items, the company reported a profit of $10.09 per share, above estimates of $9.56.
[1/2] The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland January 30, 2020. Quarterly group revenue fell to 15.3 billion Swiss francs ($17.2 billion), the company reported on Wednesday, beating market expectations of 14.8 billion francs. The company, which does not report earnings for its first and third quarter, reiterated that pandemic-related sales - mainly lab testing, antibody treatment Ronapreve and repurposed arthritis drug Actemra - would drop by 5 billion francs this year. "We are very happy with the very rapid and significant uptake in the different markets around the world," he said on a media call. Sales and core earnings per share were still expected to decrease at a "low single-digit" percentage in 2023, the pharmaceuticals and diagnostics company added.
Regeneron 's Dupixent drug could serve as the next big catalyst for shares of the pharmaceutical company, according to Jefferies. REGN YTD mountain Regeneron shares so far this year A study released Thursday indicated that Dupixent, created with Sanofi, showed promise as a treatment for patients with COPD. Broken down, the data showed Dupixent reduced some moderate or severe acute exacerbations of COPD by 30%, compared with a placebo over a 52-week period. Tewari also views Eylea as another upside driver for shares as Wall Street gains more clarity on the drug. Shares of Regeneron have been on a tear in 2023, up 11% after gaining 14% during 2022's market rout.
Regeneron’s drug Eylea is used to treat retinal diseases. Leonard Schleifer , the longtime Regeneron boss, likes to point out that, unlike many giant drug companies gaming the healthcare system with all kinds of gimmicks, his biotech focuses on true innovation. The Tarrytown, N.Y.-based company has certainly developed therapies that have made a difference for patients suffering from difficult-to-treat illnesses. More recently, it was catapulted into the national spotlight during the pandemic thanks to its monoclonal antibody infusion for Covid-19.
Regeneron 's stock could get a boost as one of its major drugs gains a competitive edge and another continues dominating, according to Cowen. Analyst Tyler Van Buren on Monday upgraded the pharmaceutical stock to outperform from market perform. Van Buren said Eylea has an "incremental improvement" over competing drug Vabysmo after previously being considered equal. "The HD Eylea data has altered the trajectory of Regeneron," Van Buren said in a note to clients. Van Buren said Regeneron's cancer portfolio continues to post little to no value, but there's potential opportunity in Odronextamab and Fianlimab specifically.
Approval of Regeneron 's eye drug treating age-related macular degeneration could serve as the next big catalyst for shares of the pharmaceutical giant, according to JPMorgan. Analyst Chris Schott upgraded shares of Regeneron to overweight from neutral, calling the pharmaceutical company's Eylea drug a "best in class therapy" slated to broaden its AMD segment. The positivity from Schott comes even after the company noted that a shift to an off-label competitor negatively impacted drug sales in the final quarter of 2022. Despite a crowded and increasingly competitive market, Schott also views Regeneron's drug treating atopic dermatitis, or eczema, as another potential growth driver for the stock going forward. Regeneron outperformed in 2022, rising 14% as the broader market fell.
Regeneron CEO on the prospects for its eye drug Eylea
  + stars: | 2023-01-10 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRegeneron CEO on the prospects for its eye drug EyleaCNBC's Meg Tirrell sits down with Regeneron CEO Len Schleifer to discuss the company's future, next-gen COVID antibody drug, and more.
Discovery — Shares of the media company jumped more than 6% after Bank of America added the stock to the "US1" list. Coinbase — Shares jumped almost 6% after the cryptocurrency exchange shared plans to trim its workforce by 20%. Bed Bath & Beyond — The retailer jumped nearly 19%. Frontline — Shares of the shipping company jumped 26% after Frontline announced that it was terminating a deal to combine with Euronav. Agilent Technologies — Shares rose more than 4% a day after the company announced a $2 billion share repurchase program.
Hong Kong, China, 13 Sept 2022, A red Tesla car passes in front of a Tesla dealership in Wanchai. Tesla – Shares of Tesla rose 8% Monday after CEO Elon Musk's attorneys on Saturday asked a California court to move a trial over the company stock to Texas, citing local negativity. Uber – Uber shares gained 5.2% on an upgrade from Piper Sandler to overweight from a neutral rating. Monolithic Power Systems – Shares of Monolithic Power Systems gained 6.4% amid the semiconductor rally, following shares of Nvidia and Advanced Micro Devices. Goldman Sachs – Shares gained 2% following reports that the banking giant is laying off 3,200 employees, or 6.5% of the workforce it had in October.
Cantor Fitzgerald analysts named six big events to mark on your calendar. While the majority of the expected events are set to come from smaller biotech companies, bigger companies — like Roche, Gilead, and Alnylam — have their own events coming through the pipeline. Here are the six major events from big biotech companies that could send stocks soaring:1. Cantor Fitzgerald analysts give Gilead's stock a neutral rating and they have an overweight rating on Arcus. Lenacapavir "could become a much bigger piece of the HIV growth narrative over the next few years," according to Cantor Fitzgerald analysts.
Bayer beats Q3 profit forecast on strong herbicide sales
  + stars: | 2022-11-08 | by ( ) www.reuters.com   time to read: +1 min
The German company said in a statement third-quarter adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 17.3% to 2.45 billion euros ($2.45 billion), above analysts' average estimate of 2.31 billion euros posted on the company's website. It said at that time it was targeting adjusted EBITDA of about 13 billion euros, based on June 30 foreign exchange rates, up from 11.2 billion in 2021. The crop science division saw adjusted EBITDA gain 33.5% to 629 million euros, beating a market consensus of 589 million euros, as a strong herbicides business more than offset weaker corn and soy seed sales. Its best-selling drug Xarelto saw sales decline 6.2% to 1.11 billion euros in the quarter, slightly below market estimates, on lower prices and volumes in China as well as loss of patent protection in Brazil. Revenues from anti-blindness treatment Eylea rose 6.3% to 811 million euros, gaining prescriptions in Europe and China, but also came in slightly below expectations.
Here are the biggest calls on Wall Street on Monday: Morgan Stanley reiterates Apple as overweight Morgan Stanley named the tech giant as its top pick in a downturn. Cowen reiterates Amazon as outperform Cowen said shares remain attractive heading into earnings later this month. Morgan Stanley resumes Prologis as overweight Morgan Stanley resumed coverage of the supply chain logistics company and named it a top pick. Morgan Stanley upgrades Clorox to equal weight from underweight Morgan Stanley said in its upgrade of Clorox that it sees some earnings upside ahead of the company's earnings later this quarter. Oppenheimer reiterates Chipotle as outperform Oppenheimer says Chipotle is a "rarity" as the firm sees earnings upside among a deteriorating macro.
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