Shares of biopharmaceutical company Bristol Myers Squibb (NYSE:BMY)
fell 3.5% in the afternoon session after a cautious analyst note from UBS highlighting significant upcoming expenses and other headwinds. Ahead of its second-quarter earnings report, UBS reiterated its "Neutral" rating on the stock. The firm's note pointed to several challenges, including an expected $1.5 billion expense for in-process research and development (IPR&D) related to a collaboration with BioNTech. This charge is anticipated to reduce the company's earnings per share (EPS) by approximately $0.60. The report also touched on broader investor concerns, such as the impact of Medicare's Part D redesign on several of the company's high-priced drugs and the looming patent expirations for key products. These factors contribute to a more cautious outlook on the pharmaceutical giant's near-term profitability and growth prospects.
Many investors have soured on this former market darling, but that may be a "go" sign for new buyers in light of its quiet and underappreciated progress on the AI front.
Hunterbrook Media cited UBS saying that if Amazon automates up to 80% of the 14 billion items it handles annually with its new robot, it could generate an estimated $400 million in revenue for Teradyne.
Honeywell announced that it is reviewing options for two of its businesses ahead of the company's split to simplify its portfolio and focus on its core operations, specifically aerospace and automation.
Shein has confidentially filed for an initial public offering in Hong Kong as an attempt to accelerate its listing plans and apply pressure on U.K. regulators, according to a report by the Financial Times on Tuesday.
Benchmark Brent crude prices fell 1% to $67.63 per barrel, while West Texas Intermediate (WTI) crude prices were down 1% at $65.83 per barrel at 2.28 am GMT.
UBS announced that the SDG Outcomes Fund, developed by its philanthropy-focused platform UBS Optimus Foundation and impact specialist Bridges Outcomes Partnerships has raised $100 million in commitments at its final close
Shares of health coverage company Centene (NYSE:CNC)
fell 39.4% in the afternoon session after the company unexpectedly withdrew its full-year 2025 financial guidance, citing significantly higher-than-anticipated costs in its insurance marketplace and Medicaid businesses.
Guggenheim cut McDonald’s price target by $5 to $305 as the burger chain battles tepid demand in the United States, with macro environmental pressure weighing on consumer buying patterns.
Tesla is leaning on overseas upgrades as domestic headwinds mount, including a sharp stock decline, potential loss of EV tax credits, and bearish delivery forecasts from top brokerages.
