-- Yue Yuen Industrial (HKG:0551) expects its first-quarter attributable profit to be 50% to 55% lower than the $75.8 million recorded in the same period of 2025, according to a Hong Kong bourse filing Tuesday.
The firm attributed the downbeat forecast to the escalation of geopolitical tensions and seasonal misalignments, which led to an increase in the costs of footwear manufacturing.
The footwear maker expects to announce its financial results on May 13.
Passage Bio (PASG) is "undervalued" given PBFT02's distinct profile, with the US Food and Drug Administration's feedback extending the path to approval, Oppenheimer said in a note Tuesday.The analysts said the company on Monday released data from its upliFT-D study along with feedback from the FDA. The update was mixed. On the positive side, the clinical data suggests PFBT02 may still be worth pursuing, especially in patients with milder disease. However, the FDA's feedback was a setback. It indicated that a single-arm pivotal study would not be sufficient for approval.The analysts said they see the promise of the progranulin target in certain neurodegenerative diseases. Although other programs in this area have struggled to show clear benefits in frontotemporal dementia, or FTD, PBFT02 stands out due to its mechanism, administration, and the data seen so far. As a one-time, non-surgical treatment, it could offer a strong commercial advantage if approved."We view Passage Bio as undervalued given PBFT02's relative profile versus others in the pipeline for FTD, which remains highly underserved," the analysts added.Oppenheimer adjusted its price target on Passage Bio from $30 to $15 while maintaining its outperform rating.Price: $5.96, Change: $-0.30, Percent Change: -4.72%
The Dow Jones Industrial Average and S&P 500 were down, while the Nasdaq Composite was up in late-morning trading Tuesday after President Donald Trump told CNBC earlier in the day that he expects the US and Iran to reach a deal before the ceasefire expires on Wednesday.In company news, UnitedHealth (UNH) reported Q1 adjusted earnings Tuesday of $7.23 per diluted share, up from $7.20 a year earlier and above the FactSet consensus analyst estimate of $6.58. First-quarter revenue was $111.72 billion, up from $109.58 billion a year ago and above the FactSet consensus of $109.43 billion. For 2026, the company said it expects adjusted EPS of over $18.25, up from its prior guidance of $17.75 and above the FactSet consensus of $17.86. UnitedHealth shares were up 8.0% around midday.Apple (AAPL) said late Monday that Tim Cook will step down as chief executive and become executive chairman, effective Sept. 1. Current Senior Vice President of Hardware Engineering John Ternus will succeed Cook as CEO, the company said. Apple shares were down 1.7%.Amazon (AMZN) said late Monday it will invest $5 billion in Anthropic and up to another $20 billion if certain commercial milestones are met in the future. Meanwhile, Anthropic said it's committed to spending over $100 billion over the next 10 years on Amazon Web Services technologies. Separately, Amazon said Tuesday it has launched a GLP-1 Management Program through Amazon One Medical that provides primary care, pharmacy services and virtual care options to help patients achieve and maintain their weight-loss goals. Amazon shares were up 1.8%.D.R. Horton (DHI) reported fiscal Q2 net income Tuesday of $2.24 per diluted share, down from $2.58 a year earlier but above the FactSet consensus of $2.13. Fiscal Q2 revenue was $7.56 billion, down from $7.73 billion a year ago but above the FactSet consensus of $7.55 billion. For fiscal 2026, the company said it now expects revenue of $33.50 billion to $34.50 billion, compared with its prior guidance of $33.50 billion to $35 billion. Analysts polled by FactSet expect $33.29 billion. D.R. Horton shares were up 7.5%.GE Aerospace (GE) reported Q1 adjusted earnings Tuesday of $1.86 per share, up from $1.49 a year earlier and above the FactSet consensus of $1.60. First-quarter revenue was $11.61 billion, up from $9.94 billion a year ago and above the FactSet consensus of $10.71 billion. For 2026, the company maintained its adjusted EPS guidance range of $7.10 to $7.40, below the FactSet consensus of $7.49. GE shares were down 5.1%.Danaher (DHR) reported Q1 adjusted earnings Tuesday of $2.06 per diluted share, up from $1.88 a year earlier and above the FactSet consensus of $1.94. First-quarter sales were $5.95 billion, up from $5.74 billion a year ago but below the FactSet consensus of $5.98 billion. For Q2, the company said it expects non-GAAP core revenue to increase in the low single-digit percent range from the year prior. For full-year 2026, Danaher said it expects adjusted EPS of $8.35 to $8.55, compared with its prior guidance of $8.35 to $8.50 and the FactSet consensus of $8.40. Danaher shares were down 0.3%.Price: $347.72, Change: $+24.24, Percent Change: +7.49%
Onto Innovation's (ONTO) acquisition of a 27% stake in X-ray hardware firm Rigaku strengthens its competitive edge in next-generation semiconductor process control, Oppenheimer said in a note Monday.The company is anticipating that X-ray metrology will become much more important, and combining its software with Rigaku's hardware will enable it to capture a core position in the metrology category before it fully matures, analysts said.Onto's investment in Rigaku, valued at about $710 million, is expected to be financially accretive by late 2026, and give Onto a board seat on Rigaku for strategic alignment, according to the note.Advanced V-NAND and DRAM customers have already adopted the integrated systems, while there is growing interest from other logic and memory manufacturers, analysts said.Oppenheimer reiterated its outperform rating on the stock, with a $350 price target.Price: $291.76, Change: $-3.33, Percent Change: -1.13%