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Research
Research Alert: Regn Posts Strong Q1 Fueled By Dupixent And Eylea Hd Amid Manufacturing Issues
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Regeneron delivered robust Q1 2026 results with total revenues of $3.6B (+19% Y/Y) and non-GAAP EPS of $9.47 (+15% Y/Y), beating consensus estimates. The EYLEA franchise continues to transition from traditional EYLEA to EYLEA HD, with HD sales reaching $468M (+52% Y/Y) while traditional sales declined to $473M (-36% Y/Y) due to biosimilar competition. We view the underlying portfolio strength as encouraging, with Dupixent maintaining exceptional momentum at global sales of $4.9B (+33% Y/Y) and physician unit demand for EYLEA HD increasing 10% sequentially despite inventory normalization. Management expects manufacturing disruptions at the Limerick facility to normalize by the end of Q2, lowering full-year GAAP gross margin guidance to 77%-78%. We believe the company's diversified revenue base and deep pipeline of nearly 50 clinical programs, including the recent Otarmeni approval and advancing Factor XI antibody Phase 3 studies, position REGN well for continued growth despite near-term manufacturing headwinds.
$REGN
Mining & Metals
Lightspeed Commerce Divests Upserve U.S. Hospitality Product Line to Skyview Equity For US$81 Million
Lightspeed Commerce (LSPD.TO, LSPD) sold its non-core Upserve U.S. hospitality product line to Skyview Equity for total cash consideration of up to US$81 million, $37 million of which is subject to an earnout, it said Wednesday.The divestiture is consistent with Lightspeed's strategy to "streamline its portfolio and concentrate on its two core growth engines of retail in North America and hospitality in Europe," it said. The deal encompasses about 3,200 U.S. hospitality Customer Locations and about 70 employees, who are expected to join Skyview in connection with the sale.Lightspeed expects to deliver fiscal fourth quarter and full year fiscal 2026 revenue and gross profit that are ahead of the previously-established outlook and adjusted EBITDA in-line with the previously established outlook. The divestiture is expected to impact the company's three-year financial outlook presented at its Capital Markets Day in March 2025 by about 5% on the absolute value of each of gross profit, adjusted EBITDA and free cash flow for fiscal 2028.The $37 million earnout is structured over 24 months and tied to performance targets, it said. For the $44 million in fixed cash consideration, $20 million was paid at closing, with the vast majority of the balance payable within 90 days.U.S.-listed shares of the company were last seen down 2.7% at US$8.80 in pre-market trading.
$LSPD.TO
US Markets
Equity Futures Rise Ahead of Mega-Cap Tech Earnings, Fed Decision
US equity futures were pointing higher Wednesday as traders awaited the latest quarterly results of four mega-cap technology companies and the Federal Reserve's monetary policy decision.The Nasdaq was up 0.4% before the bell, while the S&P 500 and the Dow Jones Industrial Average rose 0.1% each. The indexes closed the previous trading session in the red.Tech giants Alphabet (GOOG, GOOGL), Microsoft (MSFT), Amazon (AMZN), and Meta Platforms (META) are scheduled to release quarterly results after the markets close, while AbbVie (ABBV) and General Dynamics (GD) will post before the bell, among others.The Fed's monetary policy committee will announce its latest decision on interest rates later in the day. Markets widely expect the central bank to keep its benchmark lending rate unchanged for a third consecutive meeting. Fed Chair Jerome Powell will hold a press conference at 2:30 pm ET."Investors will be listening closely for an updated assessment of economic conditions, particularly inflation, in the wake of the ongoing conflict overseas," Stifel said in a note. "A rising level of concern could signal a willingness to hold rates steady for a prolonged period of time or even open up the possibility of a rate hike, while any mention of a temporary or expected 'transitory' impact will likely bolster expectations for a potential return to rate cuts."The Senate Banking Committee is set to vote Wednesday on Trump's nominee for the next Fed chair, Kevin Warsh, Reuters reported.Treasury yields were trending upwards in premarket action, with the two-year rate advancing 1.7 basis points to 3.86% and the 10-year rate adding one basis point to 4.36%.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am ET. Data on durable goods orders for March and housing starts and permits reports for February and March are out at 8:30 am. The weekly EIA domestic petroleum inventories report posts at 10:30 am.West Texas Intermediate crude oil rose 3.4% to $103.32 a barrel before the opening bell, while Brent gained 2.9% to $114.35.US President Donald Trump has told aides to prepare for an extended blockade of Iran to pressure Tehran over its nuclear program, The Wall Street Journal reported, citing US officials. Trump believes resuming strikes on Iran or ending the conflict would carry higher risks than maintaining the US blockade of Iranian ports, which began recently, the report said.Mediators in Pakistan expect to get a revised proposal from Iran to end the war in the next few days, CNN reported, citing sources.The United Arab Emirates on Tuesday said it has decided to leave the Organization of the Petroleum Exporting Countries. The move would make the cartel "structurally weaker" as the UAE is one of the few OPEC members that have spare capacity, Rystad Energy said in a note.Shares of NXP Semiconductors (NXPI) and Seagate (STX) rose 18% each before the bell following their latest quarterly results. Starbucks (SBUX) was up 4.1% as the coffee giant raised its full-year outlook late Tuesday.Robinhood Markets (HOOD) plunged 11% after its quarterly results fell short of Wall Street's estimates overnight.Gold slipped 0.6% to $4,580 per troy ounce, while bitcoin gained 1.7% to $77,547.
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