Amgen’s stock saw a significant increase of over 12% after the drugmaker revealed positive initial data on its experimental weight loss injection. This announcement sparked concerns among investors about potential new competition in the rapidly growing weight loss drug market. As a result, shares of the current key players in the obesity drug industry, Novo
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Carvana, the online auto retailer, experienced a significant surge of over 30% in their stock price during after-hours trading following the release of their first-quarter results. The company exceeded expectations across various metrics, including earnings per share and revenue. This outstanding performance has reinforced Carvana’s position as a key player in the automotive industry, showcasing
CVS Health recently reported its first-quarter revenue and adjusted earnings, both of which fell short of expectations. This disappointing performance was a result of higher medical costs plaguing the U.S. insurance industry. As a consequence, the company slashed its full-year profit outlook, citing challenges with higher medical costs persisting throughout the year. The adjusted earnings
Johnson & Johnson recently announced plans to pay $6.5 billion over a span of 25 years to settle the majority of lawsuits in the U.S. regarding the alleged link between their talc-based products and ovarian cancer. This settlement, which is subject to the approval of the claimants involved, aims to resolve a significant portion of
NBCUniversal, under the umbrella of Comcast, has made a substantial offer to regain the rights to air National Basketball Association (NBA) games after a 22-year hiatus, as reported by The Wall Street Journal. The offer averages $2.5 billion per year, significantly higher than the current $1.2 billion paid by Warner Bros. Discovery, the current rights
Paramount Global is gearing up for a significant change in leadership as reports surface that Chief Executive Officer Bob Bakish is set to be replaced by a team of existing division heads. The move, reportedly scheduled to be announced on Monday, is poised to have far-reaching implications for the company’s future direction. This impending leadership
The Food and Drug Administration has recently given approval to Pfizer for its innovative gene therapy treatment for hemophilia B, a rare genetic bleeding disorder. This marks a significant milestone for the company, as it is their first-ever gene therapy to receive clearance in the United States. Hemophilia B is a debilitating condition that affects
Southwest Airlines reported a wider loss in the first quarter of 2024 compared to the same period a year ago. The growth projections for the airline have been affected by Boeing’s aircraft delivery delays, leading to a revision in their capacity expansion plans. With the expectation of receiving fewer Boeing 737 Max 8 planes than
In a recent announcement, Walgreens revealed its plan to collaborate directly with drug manufacturers to bring cell and gene therapies to patients in the United States. This initiative is part of a larger expansion of the company’s specialty pharmacy services, aimed at providing specialized care for individuals with chronic, rare, or complex conditions. The decision
In a recent decision that has captured the attention of financial institutions worldwide, a Russian court has ruled in favor of state-run lender VTB Bank in its efforts to recoup $439.5 million from American lender JPMorgan Chase. The funds were frozen by JPMorgan in U.S. accounts following the Ukraine invasion, prompting VTB Bank to take