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Sectors

Sector Update: Healthcare Stocks Decline Premarket Thursday

Healthcare stocks were declining premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 1.4% and the iShares Biotechnology ETF (IBB) 1.6% lower.Johnson & Johnson (JNJ) said it has entered into strategic agreements with Sail Biomedicines to advance the biotech's in vivo CAR-T therapy platform for immune-mediated diseases, including an equity investment and an exclusive option to acquire Sail for $2.58 billion. Shares of Johnson & Johnson were down more than 2% pre-bell.Bristol-Myers Squibb (BMY) stock was down more than 1% even after the company posted higher Q2 non-GAAP earnings and revenue, and raised its 2026 outlook.Regeneron Pharmaceuticals (REGN) shares were up more than 1% after the company reported higher Q2 adjusted earnings and revenue.

$BMY$IBB$JNJ$REGN$XLV
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid Tech Earnings

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.7%, and the actively traded Invesco QQQ Trust (QQQ) advanced 1.5% in Thursday's premarket activity, amid earnings reports by big technology companies.US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 1% before the start of regular trading.US initial jobless claims rose to a level of 197,000 in the week ended July 25 from an upwardly revised 188,000 level in the previous week, compared with expectations for a larger increase to 200,000 in a survey of analysts compiled by Bloomberg.US economic growth, measured by gross domestic product, rose by 1.5% in Q2, after a 2.1% gain in Q1, below a 2.0% increase expected in a survey compiled by Bloomberg.Personal income rose by 0.2% in June following May's 0.7% gain, smaller than the expected 0.3% gain in a survey conducted by Bloomberg as of 7:35 am ET. The core PCE price index increased by 0.1%, below the 0.2% gain expected and following a 0.3% gain in May. The year-over-year rate dropped to 3.3% from 3.4% in the previous month.The weekly natural gas stocks will be released at 10:30 am ET.In premarket action, bitcoin was up by 1.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2% higher, Ether ETF (EETH) advanced 1.7%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was down 0.6%.Power Play:Microsoft (MSFT) shares were up more than 9% after the company reported higher fiscal Q4 adjusted earnings and revenue.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1.3%, while the Vanguard Industrials Index Fund (VIS) was inactive and the iShares US Industrials ETF (IYJ) were up 2%.AGCO (AGCO) was down 7% before the opening bell after the company reported lower-than-expected Q2 adjusted earnings and net sales.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.3% lower.Banco Bilbao Vizcaya Argentaria (BBVA) shares traded up 5% in early hours activity after the company reported higher Q2 adjusted earnings and gross income.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 1.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 1.3%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.7%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.1% higher.Anheuser-Busch InBev (BUD) shares were down 2.2% pre-bell even after the company reported higher Q2 underlying earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 1.4%, the Vanguard Health Care Index Fund (VHT) was down 0.4%, while the iShares US Healthcare ETF (IYH) gained 1.7%. The iShares Biotechnology ETF (IBB) was up 1.4%.Bristol-Myers Squibb (BMY) was down 1.1% premarket even reporting higher Q2 non-GAAP earnings and revenue.EnergyThe iShares US Energy ETF (IYE) was up 2.8%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.7%.Shell (SHEL) was up more than 1% before market open after the company reported higher Q2 adjusted earnings and revenue.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.6% to $83.99 per barrel on the New York Mercantile Exchange. Natural gas was down 1.1% to $2.69 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 1.1%, while the United States Natural Gas Fund (UNG) was 1.4% lower.Gold futures for August advanced by 0.9% to $4,133.20 an ounce on the Comex. Silver futures gained by 0.3% to $58.24 an ounce. SPDR Gold Shares (GLD) was up by 0.6%, and the iShares Silver Trust (SLV) rose by 1.1%.

Dow JonesNasdaq CompositeS&P 500$AGCO$BBVA$BETH$BITO$BMY$BUD$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MSFT$PMR$QQQ$RTH$SHEL$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Stock Futures Rise as Investors Await Key Inflation Report Following Fed Hold
US Markets

Stock Futures Rise as Investors Await Key Inflation Report Following Fed Hold

US stock futures pointed to a higher open on Thursday as investors awaited a key inflation report following the Federal Reserve's latest interest rate decision.The Nasdaq 100 was tracking 1% higher before the opening bell. S&P 500 futures rose 0.5%, while the Dow Jones Industrial Average indicated a 0.3% gain.The indexes closed the previous session in the red after the Fed left interest rates unchanged in a divided decision, with three regional presidents calling for policy tightening.The personal income and outlays report for June is scheduled to be released at 8:30 am ET. The report includes the personal consumption expenditures price index, the Fed's preferred inflation metric, as well as data on consumer spending.While the market expects about two interest rate hikes over the coming 12 months, Jefferies said the next policy move will likely be a rate cut."We expect that labor market conditions will continue to gradually soften throughout the remainder of the year, and we are optimistic that inflation pressure is going to continue to soften as the energy surge from Iran reverses," Jefferies Chief US Economist Thomas Simons said in a note e-mailed to.The outlook is uncertain, so "we could certainly be wrong about the persistence of high inflation," Simons added.The Fed's next meeting is scheduled for Sept. 15-16.Treasury yields were up in premarket action, with the two-year rate increasing 2.6 basis points to 4.26% and the 10-year rate adding 7 basis points to 4.62%.Thursday's economic calendar also has the advance estimate for second-quarter gross domestic product, along with the weekly jobless claims bulletin.West Texas Intermediate crude oil fell 0.9% to $83.74 a barrel, while Brent declined 0.5% to $90.25.The US carried out fresh strikes against Iran on Wednesday in response to Tehran's attempted missile attacks on US forces in the Middle East a day earlier, the US Central Command said.Earlier in the week, Saudi Arabia and the US struck Iran-backed militias in Iraq.Meta Platforms (META) shares fell 9% before the bell as the company's second-quarter earnings unexpectedly fell year over year late Wednesday. The social media giant's third-quarter revenue guidance also missed Wall Street's expectations at the midpoint.Microsoft (MSFT) surged 9% after its quarterly results topped estimates driven by a revenue surge in cloud computing platform Azure.Apple (AAPL) and Amazon (AMZN) are scheduled to release their latest financial results after the bell Thursday. Mastercard (MA), Shell (SHEL), Bristol-Myers Squibb (BMY) and Altria (MO) were among the companies scheduled to release results before markets open.Gold rose about 1% to $4,139 per troy ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$BMY$MA$META$MO$MSFT$SHEL
Sectors

Sector Update: Healthcare Stocks Fall Late Afternoon

Healthcare stocks declined late Monday afternoon, with the NYSE Healthcare Index shedding 1.1% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.8%.The iShares Biotechnology ETF (IBB) fell 1.1%.In corporate news, Eli Lilly (LLY) has indicated an interest in buying shares at Scribe Therapeutics' initial public offering sufficient to raise its stake to as much as 10.9% following the offering and a concurrent private placement, Scribe said in a regulatory filing on Monday. Lilly shares were falling 2.2%.Tempus AI (TEM) agreed to acquire Personalis (PSNL) in a deal with a total enterprise value of $1.5 billion. Tempus AI shares fell 7.3%, and Personalis dropped 14%.Nuvation Bio (NUVB) shares jumped past 8% after it said Monday that follow-up data from a phase 2 trial of safusidenib in people with chemotherapy and radiotherapy-naive grade 2 IDH1-mutant glioma showed "durable" efficacy, with objective response rate of 51.9% and 36-month progression-free survival rate of 79.1%.Bristol-Myers Squibb (BMY) said Monday that it is expanding its partnership with Nvidia (NVDA) to build an AI factory dedicated to pharmaceutical research and development. Bristol-Myers Squibb shares were shedding 0.9%.

$BMY$LLY$NUVB$PSNL$TEM
Sectors

Sector Update: Healthcare Stocks Softer Monday Afternoon

Healthcare stocks declined Monday afternoon, with the NYSE Healthcare Index shedding 0.8% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.6%.The iShares Biotechnology ETF (IBB) fell 0.7%.In corporate news, Eli Lilly (LLY) has indicated an interest in buying shares at Scribe Therapeutics' initial public offering sufficient to raise its stake to as much as 10.9% following the offering and a concurrent private placement, Scribe said in a regulatory filing on Monday. Lilly shares were falling 1.4%.Tempus AI (TEM) agreed to acquire Personalis (PSNL) in a deal with a total enterprise value of $1.5 billion. Tempus AI shares fell 6.9%, and Personalis dropped 11%.Bristol-Myers Squibb (BMY) said Monday that it is expanding its partnership with Nvidia (NVDA) to build an AI factory dedicated to pharmaceutical research and development. Bristol-Myers Squibb shares were down 0.4%.

$BMY$LLY$PSNL$TEM
Sectors

Sector Update: Healthcare

Healthcare stocks declined Monday afternoon, with the NYSE Healthcare Index shedding 0.7% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.4%.The iShares Biotechnology ETF (IBB) fell 0.6%.In corporate news, Bristol-Myers Squibb (BMY) said Monday that it is expanding its partnership with Nvidia (NVDA) to build an AI factory dedicated to pharmaceutical research and development. Bristol-Myers Squibb shares were down 0.1%.

$BMY
Wire

Top Midday Stories: Brookfield, CPP Investments to Acquire LXP; Google Working on New Server Chip

The Dow Jones Industrial Average was down, while the S&P 500 and Nasdaq Composite were up, as chipmakers traded higher to kick off the week.In company news, Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board agreed to acquire LXP Industrial Trust (LXP) in an all-cash deal valued at around $5.2 billion, including net debt and preferred equity, LXP said Monday. Under the terms of the transaction, which is expected to close in Q4, LXP shareholders will receive $61.20 per share in cash. Brookfield shares were down 1.3% around midday, while LXP shares were up 4.2%.Alphabet's (GOOG, GOOGL) Google is working on a new server chip that will allow it to serve its AI models to users more efficiently, The Information reported Monday, citing two people with direct knowledge of the matter. Google plans to use the new chip to help address shortages in AI computing capacity, as the tech giant's workers project it could be 6 to 10 times more efficient than the latest version of its existing line of homegrown AI chips when it launches, the report said, citing the people. Google Class C shares were up 3.1%, while its Class A shares were up 3.0%.SpaceX (SPCX) said Sunday that it is preparing to launch the 13th flight test of Starship as early as Thursday. SpaceX shares were down 1.0%.Alibaba Group's (BABA) AliExpress unit was fined 550 million euros ($628.9 million) by the European Commission for failing to comply with the Digital Services Act, the European Commission said Monday. The EC penalized the web platform for failing to diligently assess and mitigate risks tied to the sale of counterfeit and hazardous items, it said. Alibaba shares were up 4.4%.Bristol-Myers Squibb (BMY) said Monday that it is expanding its partnership with Nvidia (NVDA) to build an AI factory dedicated to pharmaceutical research and development. Financial terms of the deal were not disclosed. Bristol shares were up 0.1%, while Nvidia shares were up 1.7%.Price: $47.71, Change: $-0.62, Percent Change: -1.28%

$BABA$BAM$BMY$GOOG$GOOGL$LXP$NVDA$SPCX
Wire

Biopharma Pricing Power Seen as Key Swing Factor for Q2 Earnings, BofA Says

Biopharma pricing power will be the key swing factor for Q2 earnings as companies with cleaner growth outlooks continue to outperform peers facing loss-of-exclusivity headwinds, Bank of America said in a note Friday.Merck & Co (MRK), AbbVie (ABBV), Jazz Pharmaceuticals (JAZZ) and Ionis Pharmaceuticals (IONS) remain its top picks.Bank of America raised its price targets on AbbVie to $276 from $234, Johnson & Johnson (JNJ) to $263 from $254 and Eli Lilly to $1,334 from $1,251.The analysts lowered targets on Bristol Myers Squibb (BMY) to $66 from $67, Pfizer (PFE) to $26 from $27 and United Therapeutics (UTHR) to $613 from $620.Price: $123.45, Change: $-1.63, Percent Change: -1.30%

$ABBV$BMY$IONS$JAZZ$JNJ$LLY$MRK$PFE$UTHR
Wire

BofA Securities Adjusts Bristol-Myers Squibb Price Target to $66 From $67

BofA Securities Adjusts Bristol-Myers Squibb Price Target to $66 From $67

$BMY
Sectors

Sector Update: Healthcare Stocks Gain Late Afternoon

Healthcare stocks were higher late Thursday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each adding 2.3%.The iShares Biotechnology ETF (IBB) climbed 2.1%.In corporate news, AbbVie (ABBV) and other healthcare stocks were rising after the Trump administration reportedly proposed a new rule to curb hospital drug markups in Medicare. According to The Associated Press, the rule targets hospitals in the 340B program, which allows them to buy outpatient drugs at reduced prices for low-income patients but often bill insurers at higher rates and keep the difference. AbbVie rose 3.8%, Johnson & Johnson (JNJ) was up 3.2%, Bristol-Myers Squibb (BMY) climbed 3.4%, and Merck (MRK) added 2.7%.Crinetics Pharmaceuticals (CRNX) shares jumped 9% after UBS started coverage of the stock with a buy rating and a price target of $55 per share.Ensign (ENSG) shares rose 1.4% after the company said it has purchased the real estate and operations of two skilled nursing facilities in Texas.DarioHealth (DRIO) shares jumped 5.9% after it said Thursday that a health insurer in the US extended its agreement with the company and expanded the scope by adding its AI-powered hypertension offering.

$ABBV$BMY$CRNX$DRIO$ENSG$JNJ$MRK
Sectors

Sector Update: Healthcare Stocks Gain Thursday Afternoon

Healthcare stocks were higher Thursday afternoon, with the NYSE Healthcare Index rising 2% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 2.1%.The iShares Biotechnology ETF (IBB) advanced 1.6%.In corporate news, AbbVie (ABBV) and other healthcare stocks were rising after the Trump administration reportedly proposed a new rule to curb hospital drug markups in Medicare. According to The Associated Press, the rule targets hospitals in the 340B program, which allows them to buy outpatient drugs at reduced prices for low-income patients but often bill insurers at higher rates and keep the difference. AbbVie rose 3.2%, Johnson & Johnson (JNJ) was up 2.9%, Bristol-Myers Squibb (BMY) gained 2.4%, and Merck (MRK) added 2.2%.Ensign (ENSG) shares rose 1.7% after the company said it has purchased the real estate and operations of two skilled nursing facilities in Texas.Exelixis (EXEL) offers balanced risk-reward ahead of several key catalysts, with its Zanzalintinib therapy well positioned for success in a non-clear cell renal cell carcinoma, or nccRCC, trial readout in the second half of 2026 that could lift the stock, UBS Securities said. The firm raised its price target on Exelixis to $52 from $43 and reiterated its neutral rating. Exelixis shares added 1.8%.

$ABBV$BMY$ENSG$EXEL$JNJ$MRK
Wire

Sector Update: Healthcare

Healthcare stocks were higher Thursday afternoon, with the NYSE Healthcare Index rising 2.3% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 2.1%.The iShares Biotechnology ETF (IBB) advanced 1.5%.In corporate news, AbbVie (ABBV) and other healthcare stocks were rising after the Trump administration reportedly proposed a new rule to curb hospital drug markups in Medicare. According to The Associated Press, the rule targets hospitals in the 340B program, which allows them to buy outpatient drugs at reduced prices for low-income patients but often bill insurers at higher rates and keep the difference. AbbVie rose 3.4%, Johnson & Johnson (JNJ) was up 2.8%, Bristol-Myers Squibb (BMY) gained 2.6%, and Merck (MRK) added 2.2%.

$ABBV$BMY$JNJ$MRK
Wire

AbbVie, Other Healthcare Stocks Rise as Trump Administration Reportedly Targets Hospital Drug Markups

AbbVie (ABBV) and other healthcare stocks were rising in recent Thursday trading after the Trump administration reportedly proposed a new rule to curb hospital drug markups in Medicare.According to The Associated Press, the rule targets hospitals in the 340B program, which allows them to buy outpatient drugs at reduced prices for low-income patients but often bill insurers at higher rates and keep the difference.The move could save consumers about $1.1 billion next year, according to estimates obtained by The Associated Press.AbbVie rose 3.1%, Johnson & Johnson (JNJ) was up 2.5%, Bristol-Myers Squibb (BMY) gained 2.8%, and Merck & Co. (MRK) rose 2.1% in the session.The White House didn't immediately reply to' request for comment.Price: $259.00, Change: $+7.94, Percent Change: +3.16%

$ABBV$BMY$JNJ$MRK
Wire

Bristol Myers' CELMoD Franchise Remains Underappreciated Ahead of Iberdomide Decision, RBC Says

Bristol Myers Squibb's (BMY) CELMoD franchise remains underappreciated, with confidence building ahead of the Aug. 17 Food and Drug Administration decision on iberdomide, RBC Capital said in a Monday note.Management expects iberdomide to replace certain existing multiple myeloma regimens and highlighted data supporting accelerated approval, while also pursuing a filing for mezigdomide based on positive progression-free survival results from the SUCCESSOR-2 study, the analysts said.Bristol Myers management believes CELMoDs offer advantages over bispecific therapies through oral dosing, familiar safety profiles and broader use in community settings, while complementing CAR-T therapies through a different mechanism of action, RBC said.RBC also highlighted golcadomide as an overlooked lymphoma opportunity and said consensus estimates may undervalue the CELMoD franchise, with many analysts not yet modeling related revenue despite positive late-stage data.RBC maintained its sector perform rating on the stock with a price target of $60.Price: $57.62, Change: $+0.10, Percent Change: +0.17%

$BMY
Wire

Jefferies Adjusts Price Target on Bristol-Myers Squibb to $73 From $70, Maintains Buy Rating

Bristol-Myers Squibb (BMY) has an average rating of overweight and mean price target of $63.26, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $56.75, Change: $-0.16, Percent Change: -0.28%

$BMY
Research

Research Alert: CFRA Lowers Rating On Shares Of Bristol-myers Squibb Company To Hold From Buy

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target price to $60 from $73, 9.7x our 2027 EPS estimate, a discount to BMY's 10-year historical forward P/E average. We keep our 2026 EPS estimate at $6.30 and our 2027 EPS forecast at $6.18. While we think the company has been successfully navigating a period of important transition with solid performance from its growth portfolio, we think declines in the legacy products could put pressure on top-line growth in the next quarters. While key drug Eliquis (anticoagulant) performed better than anticipated in Q1, demonstrating resilience with revenues of $4.1B, we think competition will get fiercer with generic entry as the European patent expired on May 19. We think going forward, the key focus for BMY will be pipeline progress and the evolution of sales from new drugs. However, we see top-line revenue declines in the next two years while leverage remains more elevated versus peers due to recent acquisitions. Shares of BMY rose by nearly 19% since we gave our Buy rating on September 30.

$BMY
Wire

Top Midday Stories: NextEra, Dominion to Combine in All-Stock Deal; Big Pharma Firms Denied Certiorari by Supreme Court in Medicare Pricing Case

The Dow Jones Industrial Average, Nasdaq Composite and S&P 500 Index were down in late-morning trading Monday, as Wall Street monitored oil prices and US Treasury yields amid the ongoing conflict in the Middle East.In company news, NextEra Energy (NEE) and Dominion Energy (D) said Monday they have entered into a definitive agreement to combine in an all-stock deal. Under the terms of the transaction, Dominion shareholders will receive a fixed exchange ratio of 0.8138 shares of NextEra for each Dominion share they own at the close of the deal, which is expected in the next 12 to 18 months. NextEra shareholders will own about 74.5% of the combined company, while Dominion shareholders will own the remaining 25.5%. NextEra shares were down 5.5% around midday, while Dominion shares were up 9.6%.The US Supreme Court on Monday denied writ of certiorari petitions by six big pharmaceutical companies seeking to challenge the legality of the Medicare Drug Price Negotiation Program under the Inflation Reduction Act of 2022. AstraZeneca (AZN), Novartis (NVS), Novo Nordisk (NVO), Johnson & Johnson's (JNJ) Janssen Pharmaceuticals, Bristol-Myers Squibb (BMY) and Boehringer Ingelheim Pharmaceuticals all had their petitions denied by the Supreme Court. Shares of AstraZeneca, Novartis, Johnson & Johnson and Bristol-Myers were up 1.1%, 0.8%, 0.4% and 0.5%, respectively, while Novo Nordisk was down 1%.Berkshire Hathaway (BRK.A, BRK.B) disclosed Friday in a regulatory filing that it sold all of its stake in UnitedHealth Group (UNH). Separately, a New York state court judge on Monday prohibited prosecutors from using some evidence found in the backpack of Luigi Mangione, who is standing trial for the murder of UnitedHealth Group's UnitedHealthcare CEO Brian Thompson, CNBC reported. UnitedHealth shares were down 1.5%, while Berkshire's class A and class B shares were up 0.2% and 0.1%, respectively.Citigroup (C) and BlackRock's (BLK) HPS Investment Partners are launching a 15 billion euro ($17.48 billion) private capital program to expand access to private financing for corporate and sponsor-owned borrowers in the Europe, the Middle East and Africa region, the companies said Monday. Citigroup shares were down 0.2%, while BlackRock shares were up 0.5%.Price: $88.24, Change: $-5.13, Percent Change: -5.49%

$AZN$BLK$BMY$BRK.A$BRK.B$C$D$JNJ$NEE$NVO$NVS$UNH
Wire

Big Pharma Firms Denied Certiorari by Supreme Court in Medicare Pricing Case

The US Supreme Court on Monday denied petitions for writs of certiorari filed by six big pharmaceutical companies seeking to challenge the legality of the so-called 'Drug Price Negotiation Program' under the Inflation Reduction Act of 2022.AstraZeneca (AZN), Novartis (NVS), Novo Nordisk (NVO), Johnson & Johnson's (JNJ) Janssen Pharmaceuticals, Bristol Myers Squibb (BMY) and Boehringer Ingelheim Pharmaceuticals all had their petitions denied by the Supreme Court.The companies did not immediately respond to requests for comment from.Price: $183.25, Change: $+1.67, Percent Change: +0.92%

$AZN$BMY$JNJ$NVO$NVS
Wire

Big Pharma Firms Denied Certiorari by Supreme Court in Medicare Pricing Case

Big Pharma Firms Denied Certiorari by Supreme Court in Medicare Pricing Case

$AZN$BMY$JNJ$NVO$NVS
Research

Research Alert: CFRA Keeps Buy Rating On Shares Of Bristol-myers Squibb Company

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our target price to $73 from $69, 11.7x our 2027 EPS estimate, a discount to BMY's 10-year historical forward P/E average. We lift our 2026 EPS estimate to $6.30 from $6.22 and maintain our 2027 EPS forecast at $6.18. BMY announced Q1 revenues of $11.5B, a 1% Y/Y increase, and non-GAAP EPS of $1.58, above expectations. The company's growth portfolio, which includes key products such as Reblozyl, Breyanzi, Opdualag, Qvantig, and Cobenfy, and is a key area of focus, saw a 9% Y/Y increase in sales, driven by strong demand for BMY's newer medicines. The quarter was also marked by significant progress in the company's pipeline, with positive data for its CELMoD program and advancements in several late-stage assets. We think the company is successfully navigating a period of important transition, with strong performance from its growth portfolio offsetting declines in legacy products, as we anticipate a series of crucial clinical trial readouts later in the year.

$BMY

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