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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
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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Mining & Metals
CGI Down 2.15% In US Premarket With Q2 Adjusted Earnings In Line, Revs Miss
CGI (GIB-A.TO, GIB) was down more than 2% in US premarket trade Wednesday after it reported in line adjusted earnings but lower than expected revenues for the second quarter, said the company on Wednesday.For the second quarter of Fiscal 2026, the company's net earnings were C$444.7 million, compared to $429.7 million in the corresponding year-ago quarter. Diluted earnings per share for the quarter were $2.09 compared to $1.89 in the same period last year.Second-quarter adjusted net earnings were $483.4 million, compared with $480.7 million in the same period last year. Adjusted diluted earnings per share for the quarter was $2.27, compared to $2.12 for the same period last year. The consensus estimates compiled by FactSet for Non GAAP EPS was $2.27 per share.The company's second-quarter revenue was near $4.16 billion, compared to $4.02 billion in the year-ago quarter. The consensus estimates compiled by FactSet for sales was near $4.24 billion.As of March 31, 2026, the company's backlog reached $31.50 billion, representing 1.9 times annual revenue, said the company. Cash provided by operating activities of $451.1 million, represented 10.9% of revenue and $2.47 billion or 15.1% of revenue on a trailing 12 month basis while bookings were $4.31 billion, for a book-to-bill ratio of 103.8% or 108.4% on a trailing 12 month basis, it added.On April 28, 2026, the company's unsecured committed revolving credit facility was increased to $2.50 billion and is now comprised of a three-year tranche of $1.00 billion which matures in 2029 and a five-year tranche of $1.50 billion which matures in 2031, said the company and added that both tranches can be further extended.On April 28, 2026, CGI's board of directors approved a quarterly cash dividend of $0.17 per share, unchanged from the prior quarter. This dividend is payable to holders of Class A subordinate voting shares and Class B shares (multiple voting) on June 19, 2026, to shareholders of record as of the close of business on May 15, 2026, added the company."CGI delivered a strong first half of the fiscal year, with industry-leading EPS accretion and cash generation," said Francois Boulanger, President and Chief Executive Officer. "Even in the context of today's dynamic business environment, this performance reflects the resilience of our business model, the relationships with our clients, and the outstanding expertise of our global team. As clients continue to invest in AI, they need a trusted partner to address mission-critical environments, modernize complex legacy estates, and deliver measurable outcomes. CGI's AI-first strategy-focused on making AI real and outcome-driven-positions us well to help clients across every industry and geography."
$GIB-A.TO