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☆ Cramer: Buy stocks now to catch the rally when the Fed ends its tightening cycle
▼ + stars: | 2023-09-21 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Our September meeting comes at a difficult time for the stock market. As I said in a recent Sunday column , money can and will be made in this tightening cycle. With the exception of September and the months of February and August, the stock market has been fairly robust in 2023. This kind of bullish move during a tightening cycle is not exceptional. The market has gained 13% on average when a tightening cycle is completed.

Persons: —, That's, Jim Cramer's, Jim Cramer, Jim, Jerome Powell, Chip Somodevilla Organizations: Treasury, Fed, Arm Holdings, Federal Trade Commission, Activision Blizzard, Microsoft, Jim Cramer's Charitable, CNBC, Federal Reserve, Getty Locations: Washington ,

☆ SoftBank-backed Neumora valued at $2.51 billion in lukewarm debut
▼ + stars: | 2023-09-15 | by ( Jaiveer Shekhawat | ) www.reuters.com time to read: +2 min

Sept 15 (Reuters) - Shares of Neumora Therapeutics (NMRA.O), which is backed by Amgen (AMGN.O) and Japan's SoftBank (9984.T), fell in their market debut on Friday, giving the company a market capitalization of $2.51 billion. The ongoing surge in listings points to a nascent recovery in the U.S. IPO market amid growing expectations of a pause in interest rate hikes by the Federal Reserve. Neumora, which is developing drugs for brain diseases, raised $250 million by selling 14.7 million shares priced at the mid-point of its previously disclosed range. Neumora's debut comes a day after Arm Holdings' strong debut valued the chip designer at more than $60 billion. "Neumora opened up trading slightly below the IPO price, but taken in context with RayzeBio ... market sentiment for established, later-stage biotech IPOs appears strong," Mullin added.

Persons: Japan's SoftBank, Neumora, Riley Mullin, Mullin, Jaiveer Shekhawat, Pritam Biswas, Shounak Dasgupta Organizations: Neumora Therapeutics, Nasdaq, Federal Reserve, Arm Holdings, Renaissance Capital, Arch Venture Partners, Thomson Locations: Watertown , Massachusetts, U.S, Bengaluru

☆ Cramer: These things could soon break the bulls' way, plus 4 stocks to buy
▼ + stars: | 2023-09-10 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

If you don’t know a soul that is bullish — and I mean flat-out positive — you may need some new friends. I say I am a naked opportunist and I feel naked and alone right now in saying we might have a bunch of things that could break the bulls' way. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: —, We’ve, sotto, Shawn Fain, Leon Trotsky, Fain, Lululemon, LULU, Robert Bradway, Amgen, Lina Khan, Khan, Trump, Estee Lauder, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim, Virginia Sherwood Organizations: Federal Reserve, Softbank's Arm Holdings, United Auto Workers, UAW, Federal Trade, Activision Blizzard, Horizon Therapeutics, FTC, Apple, GE HealthCare, Disney, Bausch Health, Honeywell, Jim Cramer's Charitable, CNBC, NYSE Locations: Russian, U.S, Wells

☆ HSBC says this biopharma company can jump 25% despite 'patent cliff'
▼ + stars: | 2023-09-06 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Amgen has a promising growth outlook despite facing a "substantial patent cliff," according to HSBC. While some very old products are finally facing patent cliffs it will likely be gradual and a broadened portfolio allows for continued growth," analyst Morten Herholdt wrote in a Wednesday note. Amgen is set to lose exclusivity on patents for drugs that make up about three-quarters of the company's sales. The company's acquisition of Horizon Therapeutics will also help it extend sales and pipeline into the rare diseases market, Herholdt added. Due to the current investor skepticism with the looming patent cliff, Amgen shares are trading at an "undemanding" earnings multiple, according to the analyst.

Persons: Amgen, Morten Herholdt, Herholdt, —, Michael Bloom Organizations: HSBC, Horizon Therapeutics Locations: Tuesday's

An Amgen sign is seen at the company's office in South San Francisco, California in this October 21, 2013. Under the FTC settlement, Amgen is prohibited from bundling any of its products with Tepezza or Krystexxa, and from using any product rebate or contract term to exclude or disadvantage products that would compete with those drugs. It also prevents Amgen from buying any competitors to the two Horizon drugs without the FTC's permission. The lawsuit had raised concerns over increased oversight on mergers and acquisitions in a sector that often turns to consolidation to power future growth as patents on older treatments expire. Shares of Seagen Inc (SGEN.O), which is in the process of being acquired by Pfizer (PFE.N), rose 1.5%.

Persons: Robert Galbraith, Lina Khan, Robyn Karnauskus, Khan, Manas Mishra, David Shepardson, Devika Organizations: REUTERS, U.S . Federal Trade Commission, Horizon Therapeutics, FTC, Seagen Inc, Pfizer, Thomson Locations: South San Francisco , California, Amgen, Bengaluru, Washington

He said that once implemented, the prices on negotiated drugs will decrease for up to 9 million seniors who currently pay as much as $6,497 in out-of-pocket costs per year for these prescriptions. This kicks off the negotiation process for the 10 drugs whose new prices will go into effect in 2026. U.S. laws had prohibited Medicare from negotiating pharmaceutical prices as part of its prescription drug program that began about 20 years ago. CMS Director Dr. Meena Seshamani said Medicare plans to use a review process to make sure insurance companies keep clinically appropriate access to negotiated drugs. Two analysts said they expect the negotiated prices to move beyond Medicare and affect commercial markets for these drugs by 2026, when they come into effect.

Persons: Joe Biden, Jonathan Ernst, Biden, Joe Biden’s, Januvia, Xarelto, Johnson, Boehringer Ingelheim, Eli Lilly's, Jardiance, Mohit Bansal, Entresto, Eli Lilly, Merck, Bristol Myers, Giovanni Caforio, Caforio, enrollees, Meena Seshamani, Stelara, Amgen, Evan Seigerman, Patrick Wingrove, Mike Erman, Manas Mishra, Nandita Bose, Caroline Humer, Bill Berkrot Organizations: Social Security, University of Tampa, REUTERS, U.S, Bristol Myers Squibb, Pfizer, Merck, Co's, Johnson, Novo Nordisk, NYSE Arca Pharmaceutical, U.S . Centers, Medicare, Medicaid Services, Reuters Graphics Wells, Novartis, AstraZeneca, Bristol, J, U.S . Department of Health, Human Services, BMO Capital, Thomson Locations: Tampa , Florida, U.S, Amgen's, Jardiance, Germany, Bengaluru, Washington

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Focus now shifts to a report on the personal consumption expenditures price index, the Fed's preferred inflation gauge, to be released on Thursday, and non-farm payrolls data due on Friday. According to preliminary data, the S&P 500 (.SPX) gained 27.49 points, or 0.62%, to end at 4,433.20 points, while the Nasdaq Composite (.IXIC) gained 114.49 points, or 0.84%, to 13,705.13. Micron's and Intel's shares gained for much of the session. Horizon's shares rose.

Persons: Brendan McDermid, Goldman Sachs, Jerome Powell, Powell didn't, Ross Mayfield, Gina Raimondo, Wang Wentao, Shristi Achar, Noel Randewich, Shounak Dasgupta, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Investment, Baird, Nvidia, Creative Planning, Nasdaq, Dow Jones, JD.com, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, U.S . Federal Trade Commission, Horizon Therapeutics, Thomson Locations: New York City, U.S, China, Bengaluru, Oakland, Calif

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Horizon's shares rose 5.5%. Advancing issues outnumbered decliners for a 3.82-to-1 ratio on the NYSE and a 1.78-to-1 ratio on the Nasdaq. The S&P index recorded seven new 52-week highs and no new low, while the Nasdaq recorded 43 new highs and 101 new lows. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Stocks, Jerome Powell, Roosevelt Bowman, Gina Raimondo, Wang Wentao, Goldman Sachs, decliners, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Bernstein Private Wealth Management, Traders, Fed, Nvidia, U.S, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, Intel's, Dow Jones, U.S . Federal Trade Commission, Horizon Therapeutics, Creative Planning, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Focus now shifts to a report on the personal consumption expenditures price index, the Fed's preferred inflation gauge, which is set to be released on Thursday and the non-farm payrolls data due on Friday. ET, Dow e-minis were up 74 points, or 0.22%, S&P 500 e-minis were up 6.5 points, or 0.15%, and Nasdaq 100 e-minis were up 41.5 points, or 0.28%. Horizon Therapeutics' shares rose 5.2%. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Stocks, Jerome Powell, Mark Haefele, Powell's Jackson, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Fed, UBS Global Wealth Management, U.S, PDD Holdings, Baidu, Dow e, U.S . Federal Trade Commission, Horizon Therapeutics, Therapeutics, Thomson Locations: New York City, U.S, China, Xpeng, Bengaluru

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. The S&P 500 communication services (.SPLRCL) and technology (.SPLRCT) sectors led gains among the 11 major S&P sub-indexes, rising 1.2% and 0.8% respectively. Horizon's shares rose 5.8%. Advancing issues outnumbered decliners for a 5.47-to-1 ratio on the NYSE and a 2.95-to-1 ratio on the Nasdaq. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Stocks, Jerome Powell, Peter Andersen, Gina Raimondo, Wang Wentao, decliners, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Microsoft, Andersen Capital Management, Traders, U.S, PDD Holdings, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, Intel's, Dow Jones, Xpeng, U.S . Federal Trade Commission, Horizon Therapeutics, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

☆ 3-Stock Lunch: MMM, AMGN & CRWD
▼ + stars: | 2023-08-28 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3-Stock Lunch: MMM, AMGN & CRWDDanielle Shay, Simpler Trading VP of options, joins ‘Power Lunch’ to discuss three stocks: 3M, Amgen and Crowdstrike.

Persons: Danielle Shay Organizations: AMGN

☆ 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

Wegovy is the first-to-market in a new class of highly effective weight-loss drugs. The self-injection drug has transformed the fortunes of Novo, whose shares have surged about 165% since Wegovy's U.S. launch two years ago. The lion's share may be claimed by frontrunners Novo and its U.S. rival Eli Lilly and Co (LLY.N). Last month, Novo launched Wegovy in Germany, its first big European market. Reporting by Maggie Fick and Jacob Gronholt-Pedersen Editing by Josephine Mason and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Novo Nordisk Lars Fruergaard Jorgensen, LUDOVIC MARIN, Lars Fruergaard Jorgensen's, Jorgensen, Eli Lilly, Wegovy, Novo, Maggie Fick, Jacob Gronholt, Pedersen, Josephine Mason, Mark Potter Organizations: Novo Nordisk, Chateau, BMI, Reuters, frontrunners Novo, Pfizer, Thomson Locations: Versailles, Paris, COPENHAGEN, Europe, Danish, United States, Denmark, Norway, Brussels, Wegovy, Germany

☆ These 10 medications are likely targets for Medicare price negotiations this fall
▼ + stars: | 2023-08-10 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Though it is still unclear which 10 drugs Medicare will select, several pharmaceutical companies have already revealed in court filings that they expect four of their blockbuster medications to be targeted. Bristol-Myers Squibb and Johnson & Johnson , in separate filings, said their blood thinners Eliquis and Xarelto will be subject to the negotiations this year. The list price of Januvia has surged 275% since 2006, according to the AARP. Johnson & Johnson reported $2.47 billion in revenue from Xarelto. "More and more people face cost-sharing that is directly affected by drug price increases," Leigh Purvis, who analyzes health-care costs for AARP, told reporters on a call Thursday.

Persons: Daniel Acker, Merck, Johnson, Abbvie, Imbruvica, Jardiance, Boehringer Ingelheim, Amgen Symbicort, Pfizer Xtandi, Breo, Biden, Januvia, Eliquis, Xarelto, Leigh Purvis Organizations: Merck, Co, Inc, Bloomberg, Getty, Medicare, Services, Myers Squibb, Johnson, Pharmacy, AstraZeneca Ibrance, Pfizer, Astellas Pharma, GSK, AARP, Bristol Myers Squibb, Jama Network, Industry Locations: Bristol, U.S, Januvia, Xarelto

A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. The increasingly popular Wegovy has transformed the weight-loss market since its U.S. launch in June 2021, capturing the attention of patients, investors and celebrities worldwide. Novo's news lifted shares in Europe's second-most valuable listed company after LVMH (LVMH.PA) by more than 17% to record highs. Novo said the eagerly-awaited study results, which have not been peer reviewed, showed that patients on Wegovy had a 20% lower incidence of heart attack, stroke or death from heart disease compared to those on a placebo. Lilly's shares rose nearly 15% in early U.S. trading, boosted by its upbeat quarterly results and Novo's trial data.

Persons: Jim Vondruska, Novo, Wegovy, Jeff Levin, Willis, Willis Towers Watson, Martin Holst Lange, Novo's, Eli Lilly, Mounjaro, Soren Lontoft Hansen, Maggie Fick, Nikolaj Skydsgaard, Jacob Gronholt, Ludwig Burger, Patrick Wingrove, Terje Solsvik, Josephine Mason, Sharon Singleton, Kirsten Donovan, Jan Harvey, Alexander Smith Organizations: REUTERS, COPENHAGEN, Novo Nordisk, Willis Towers, U.S, Union, Pfizer Inc, Amgen Inc, World Health Organization, Barclays, Reuters, Pedersen, Thomson Locations: Chicago , Illinois, U.S, LONDON, Europe's, Europe, United States, Novo, Wegovy, Germany, Denmark, Norway, Copenhagen, Frankfurt, New York, Oslo

A partial counterweight to Apple for the S&P 500 and Nasdaq was Amazon.com. Amazon's rise were an 11-point positive for the S&P 500. Reuters GraphicsAverage hourly earnings rose 0.4% in July, unchanged from the previous month, exceeding expectations, taking the year-on-year increase in wages to 4.4%. DraftKings' (DKNG.O) shares rose 5.8% after the sports-betting firm raised its fiscal year 2023 revenue outlook. The S&P 500 posted 19 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 54 new highs and 91 new lows.

Persons: dents, jitters, Said Greg Bassuk, Brendan McDermid, Carl Icahn, DraftKings, Echo Wang, Shubham Batra, Bansari, Savio D'Souza, Shounak Dasgupta, Shinjini Ganguli, Louise Heavens, David Gregorio Our Organizations: Companies, Apple, Dow, Nasdaq, AXS Investments, Treasury, Labor Department, Reuters, New York Stock Exchange, REUTERS, Microsoft, Dow Jones, Icahn Enterprises, Hindenburg, NYSE, Thomson Locations: New York, Ukraine, China, New York City, U.S, Bengaluru

The yield on the 10-year benchmark note dipped on Friday after the jobs data, but still remained above 4%, partly boosting some megacap stocks. "At this point in some ways the jobs data doesn't do much to the Fed. Giving solid boost to the S&P 500 index, Amazon.com shares (AMZN.O) surged 10.9% after the company issued an upbeat third-quarter outlook. Of the 422 companies in the S&P 500 that have reported quarterly earnings as of Friday, 79.1% have beat analysts' estimates, according to Refinitiv data. Amgen (AMGN.O) gained 6.2% after it reported a higher quarterly profit on strong sales of its cholesterol, osteoporosis and other drugs.

Persons: Brendan McDermid, David Russell, Stocks, Carl Icahn, DraftKings, Shubham Batra, Bansari, Savio D'Souza, Shounak Dasgupta, Shinjini Organizations: New York Stock Exchange, REUTERS, Apple, Dow, Nasdaq, Labor Department, Data, Reuters, Fed, Treasury, Microsoft, Dow Jones, Icahn Enterprises, Hindenburg, NYSE, Thomson Locations: New York City, U.S, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. All eyes will be squarely on the July U.S. nonfarm payrolls report, due at 8:30 a.m. ET, with a Reuters poll of economists estimating payrolls increased by 200,000 jobs last month, after having risen 209,000 in June, showing labor market conditions remain tight. "Today's NFP data would be important for setting the market tone for the coming weeks," Jefferies strategist Mohit Kumar said. ET, Dow e-minis were up 10 points, or 0.03%, S&P 500 e-minis were up 8.5 points, or 0.19%, and Nasdaq 100 e-minis were up 44.25 points, or 0.29%.

Persons: Brendan McDermid, Amazon's, nonfarm, Jefferies, Mohit Kumar, Stocks, DraftKings, Shubham Batra, Bansari, Savio D'Souza, Shounak Organizations: New York Stock Exchange, REUTERS, Apple Futures, Dow, Nasdaq, Amazon.com, Microsoft, Labor Department, Fitch, AAA, Dow e, Horizon Therapeutics, Sports, Thomson Locations: New York City, U.S, States, Bengaluru

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho

July 27 (Reuters) - AbbVie (ABBV.N) on Thursday raised its annual profit forecast after beating analysts' estimates for second-quarter earnings on a lower-than-expected fall in sales of blockbuster arthritis drug Humira and strong sales of newer treatments. Global Humira sales tumbled 25.2% to $4.01 billion while analysts had expected $3.94 billion, according to Refinitiv data. Still, Humira sales are expected to drop 37% in 2023, and the company has been leaning on newer immunology drugs Skyrizi and Rinvoq to drive growth. Excluding one-off items, AbbVie reported a profit of $2.91 per share, beating the average analyst estimate of $2.81. The company raised its 2023 adjusted profit forecast to $10.90 to $11.10 per share from $10.57 to $10.97 earlier.

Persons: Evan Seigerman, Richard Gonzalez, Leroy Leo, Patrick Wingrove, Sriraj Kalluvila, Jonathan Oatis Organizations: Global, BMO Capital, Reuters, Thomson Locations: U.S, Amgen, Bengaluru, New York

☆ Dow Jones index set to end 13 day winning streak
▼ + stars: | 2023-07-27 | by ( Noel Randewich | ) www.reuters.com time to read: +3 min

Its recent rally comes as traders widely believe that the U.S. Federal Reserve's 25 basis point rate hike on Wednesday was the last in its campaign to control inflation. The Dow's longest-ever winning streak was 14 sessions, set in 1897, according to S&P Dow Jones Indices. Even after its recent gains, the Dow has lagged Wall Street's other main indexes in 2023. Reuters GraphicsWhile the Dow's recent winning streak is unusually long, its overall strength has not been exceptional. The Dow's last 13-day winning streak in January 1987 produced a gain of 11.1%.

Persons: Dow, Hogan, Tesla, it's, darlings, Noel Randewich, Alison Williams Organizations: Dow Jones, Dow, Reuters, U.S, U.S . Federal, Riley, Nvidia, Apple, Microsoft, Chevron, Verizon Communications, Walgreen Boots Alliance, Nasdaq, Thomson Locations: U.S ., Amgen

☆ The Dow just posted its best winning streak since the 1980s. Why it keeps going higher
▼ + stars: | 2023-07-26 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

Brendan McDermid | ReutersThe Dow Jones Industrial Average just won't stop going higher it seems like. The Dow on Wednesday rose for a 13th straight day, matching its longest winning streak since 1987. Both are up just 3% since the Dow's streak began. There are several reasons for the Dow's streak, but none may be bigger than recession fears easing. Stock Chart Icon Stock chart icon Dow riding 12-day winning streakNo more recession?

Persons: Brendan McDermid, Dow, Steve Eisman, Neuberger Berman, CNBC's, Michael Lewis, Jerome Powell, Goldman Sachs, Johnson Organizations: New York Stock Exchange, Reuters, Dow Jones, Dow, Nasdaq, Federal, Companies, Goldman Sachs Group, Inc, UnitedHealth, JPMorgan Chase &, Johnson, Intel, CAT Caterpillar Inc Locations: New York City, U.S, Chevron

☆ Launch of arthritis drug biosimilars ramps up US pressure on pricing 'middlemen'
▼ + stars: | 2023-07-25 | by ( Patrick Wingrove | ) www.reuters.com time to read: +5 min

Seven drugmakers this month launched their own versions, known as biosimilars, of AbbVie's (ABBV.N) flagship arthritis drug Humira, once the world's top-selling prescription medicine. Three have kept their list price within 5%-7% of AbbVie's, two priced at an 85% discount and two have offered both types of prices. For insured patients who are often on the hook for co-pays of 10% to 25% of the list price, the savings have been minimal. Reuters GraphicsThe Biden administration has made lowering drug prices a priority. Amgen offered 5% and 55% discounts to AbbVie's $6,922 per month Humira price tag, and both were included on drug coverage lists at two large PBMs.

Persons: Dado Ruvic, Humira, Ameet Sarpatwari, Biden, PBMs, Cigna, UnitedHealth, Amgen, Robin Feldman, Ron Wyden, Wyden, Chuck Grassley, Grassley, Patrick Wingrove, Moira Warburton, Josephine Walker, Caroline Humer, Bill Berkrot Organizations: REUTERS, Association for Accessible Medicines, Harvard Medical School, Reuters, Lawmakers, Federal Trade Commission, FTC, CVS, Biosimilars, Healthcare, Novartis, Sandoz, Reuters Graphics Reuters, University California College of the, Democratic, Republican, Thomson Locations: U.S, Humira, San Francisco, New York, Washington

☆ US FTC seeks additional info on Pfizer's proposed takeover of Seagen
▼ + stars: | 2023-07-15 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Pfizer logo is pictured on their headquarters building in the Manhattan borough of New York City, New York, U.S., November 9, 2020. REUTERS/Carlo Allegri/File Photo/File PhotoJuly 14 (Reuters) - The US Federal Trade Commission (FTC) has sought additional information and documentary material related to Pfizer's (PFE.N) proposed acquisition of Seagen Inc (SGEN.O), Seagen said on Friday. The antitrust agency sent the requests separately to both the companies, a regulatory filing said. Pfizer struck a $43 billion deal in March to acquire Seagen and its targeted cancer therapies, to counter the fall in COVID-related sales and generic competition for some top-selling drugs. The recent scrutiny by the antitrust agency to block Amgen's (AMGN.O) $27.8 billion deal to buy Horizon Therapeutics (HZNP.O) has made investors jittery around the Pfizer-Seagen deal as well.

Persons: Carlo Allegri, Seagen, Khushi, Shailesh Organizations: Pfizer, REUTERS, US Federal Trade Commission, Seagen Inc, Horizon Therapeutics, Thomson Locations: Manhattan, New York City , New York, U.S, COVID, Bengaluru

[1/2] The sun sets behind the U.S. Capitol dome in Washington, U.S., on midterm election day, November 6, 2018. It was not the first loss for the agency under Khan. In addition, an internal FTC judge ruled for Illumina's (ILMN.O) purchase of Grail (GRAL.O). Lawmakers are also expected to bring up the committee's requests for documents regarding the agency's review of billionaire Elon Musk's purchase of Twitter. Conservatives have accused social media companies, including Twitter before it was acquired by Musk, of seeking to stifle conservative voices.

Persons: James Lawler Duggan, Lina Khan, Jim Jordan, Trump, Black Knight, Amgen's, Elon Musk's, Diane Bartz, Matthew Lewis Organizations: U.S, Capitol, REUTERS, WASHINGTON, U.S . Federal Trade Commission, Republican, Committee, FTC, Microsoft, Activision, Khan, Facebook, Illumina's, Black, Horizon Therapeutics, Twitter, Musk, Thomson Locations: Washington , U.S, Washington

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