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Wire

Update: Market Chatter: Novartis Wins UK Court Challenge to Entresto Patent

(Updates with response from a Novartis spokesperson in the fourth and fifth paragraphs.)Novartis (NVS) defeated a bid by Accord Healthcare to invalidate its Entresto patent, with a UK court ruling that the patent and a related protection certificate remain valid, Reuters reported on Thursday.The court also ruled that Accord's planned generic version of Entresto would infringe Novartis' patent, according to the report.Novartis' European patent for Entresto expired in 2023, while its supplementary protection certificate runs through 2028, with the drug accounting for about 10% of the company's sales, Reuters reported.In a statement emailed to, Novartis said the company can confirm that Accord Healthcare commenced proceedings against Novartis concerning certain patent rights protecting Entresto (sacubitril/valsartan). The proceedings relate to a supplementary protection certificate (SPC/GB16/025), which protects the combination of sacubitril and valsartan and is based on European Patent (UK) 1 467 728 B1 and the relevant marketing authorizations for Entresto.The High Court of England and Wales has now issued its judgment, finding that both the patent and the SPC are valid and that Accord's Entresto generic product would infringe the SPC. The decision is appealable. As a matter of policy, Novartis does not comment further on ongoing litigation, Novartis added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $152.24, Change: $-0.08, Percent Change: -0.05%

$NVS
Wire

Market Chatter: Novartis Wins UK Court Challenge to Entresto Patent

Novartis (NVS) defeated a bid by Accord Healthcare to invalidate its Entresto patent, with a UK court ruling that the patent and a related protection certificate remain valid, Reuters reported on Thursday.The court also ruled that Accord's planned generic version of Entresto would infringe Novartis' patent, according to the report.Novartis' European patent for Entresto expired in 2023, while its supplementary protection certificate runs through 2028, with the drug accounting for about 10% of the company's sales, Reuters reported.Novartis did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $152.61, Change: $+0.29, Percent Change: +0.19%

$NVS
Sectors

Sector Update: Healthcare Stocks Mixed Premarket Tuesday

Healthcare stocks were mixed premarket Tuesday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.9% lower and the iShares Biotechnology ETF (IBB) up 0.3%.Novartis (NVS) stock was up more than 3% after the company reported Q2 core earnings and net sales that topped analysts' expectations.Danaher (DHR) shares were down more than 15% even after the company posted higher Q2 adjusted net earnings and sales, and raised its 2026 adjusted EPS guidance.Agios Pharmaceuticals (AGIO) shares were down more than 12% after the company said it will halt development of its oral medicine, tebapivat, for sickle cell disease after a Phase 2 study failed to demonstrate a distinct clinical profile.

$AGIO$DHR$IBB$NVS$XLV
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Tuesday as Semiconductor Recovery Supports Markets

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4%, and the actively traded Invesco QQQ Trust (QQQ) advanced 1.3% in Tuesday's premarket activity, as semiconductor shares rebounded and investors welcomed reports of renewed efforts to broker a ceasefire between the US and Iran.US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.4%, and Nasdaq futures gaining 1.4% before the start of regular trading.State-level unemployment data for June will be released at 10:00 am ET.In premarket action, bitcoin was up by 1.7%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.8% higher, Ether ETF (EETH) advanced 1.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was up 1.7%, and the iShares US Technology ETF (IYW) was 2.8% higher, while the iShares Expanded Tech Sector ETF (IGM) was down 0.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased 3%, while the iShares Semiconductor ETF (SOXX) rose by 4%.Calix (CALX) shares were down more than 10% in premarket activity after the company reported overnight fiscal Q3 adjusted earnings forecast below market expectations, taking the shine off its Q2 beat.Winners and Losers:EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) retreated marginally by 0.03%.Magnolia Oil & Gas (MGY) stock was down more than 5% before market open after the company priced its underwritten public offering of 46.3 million Class A shares at $23.75 per share.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.5%, the Vanguard Industrials Index Fund (VIS) was inactive, and the iShares US Industrials ETF (IYJ) rose 2%.3M (MMM) stock was up 6.7% before the opening bell after the company reported higher Q2 adjusted earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.4%, the Vanguard Health Care Index Fund (VHT) was up 0.5%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) declined by 0.02%.Novartis (NVS) stock was up more than 3% premarket after the company reported higher-than-expected Q2 core earnings and net sales.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% higher.Columbia Financial (CLBK) shares traded down 3% in early-hours activity after the company said it completed its conversion from a mutual holding company structure and closed its previously announced $580 million acquisition of Northfield Bancorp.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.3%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) retreated 0.01%.Genuine Parts (GPC) shares were down 6.2% pre-bell after the company reported higher Q2 adjusted earnings and net sales.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 1.6% to $84.55 per barrel on the New York Mercantile Exchange. Natural gas was up by 0.4% to $2.87 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 2%, while the United States Natural Gas Fund (UNG) was 0.6% higher.Gold futures for July advanced 1.2% to $4,062.80 an ounce on the Comex. Silver futures were up 3.7% to $59.17 an ounce. SPDR Gold Shares (GLD) increased 1.3%, and the iShares Silver Trust (SLV) was 4.6% higher.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$CALX$CLBK$EEM$EETH$EXI$FAS$FAZ$GLD$GPC$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MGY$MMM$NVS$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Healthcare

Healthcare stocks were mixed premarket Tuesday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.8% lower and the iShares Biotechnology ETF (IBB) up 0.3%.Novartis (NVS) stock was up more than 2% after the company reported Q2 core earnings and net sales that topped analysts' expectations.

$NVS
Asia Markets

Update: Potential Middle East Ceasefire Lifts US Equity Futures Pre-Bell

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Tuesday as traders digested new efforts by mediators to put peace talks between the US and Iran back on track.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 1.3% higher.The US Central Command said it completed another round of attacks against Iran on Monday evening, as news reports said Tuesday that Iran-backed Houthis in Yemen are planning a naval blockade on Saudi Arabia.Mediators are proposing a 10-day ceasefire between the two nations, giving hope that hostilities may de-escalate. Iranian Interior Minister Eskandar Momeni has asked Pakistan to resume its mediation role in the conflict and traveled to Islamabad for further discussions, according to a Reuters report.Traders took note of the latest round of earnings, with Novartis (NVS) reporting lower core earnings and higher net sales for Q2.Interactive Brokers Group (IBKR) is expected to report its Q2 financial results after the market closes. Analysts polled by FactSet expect adjusted earnings of $0.64 per share and revenue of $1.8 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.8% at $90.83 per barrel and US West Texas Intermediate crude 1.8% higher at $83.97 per barrel.The economic calendar is vacant.In other world markets, Japan's Nikkei closed 3.3% higher, Hong Kong's Hang Seng ended flat, and China's Shanghai Composite finished 1.8% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.1% higher in Europe's early afternoon session.In equities, Micron Technology (MU) and SK Hynix (SKHY) stocks were up 5.6% and 5.4%, respectively, as part of a broader rebound in technology-related stocks. Novartis shares rose 3.2% after the company reported Q2 core earnings and net sales that surpassed analysts' consensus estimates. 3M (MMM) stock was up 6% after the company posted a Q2 beat for adjusted earnings and revenue, as well as raised its fiscal 2026 adjusted earnings outlook.On the losing side, Charles Schwab (SCHW) stock was down 1.3% despite the company's Q2 adjusted earnings and net revenue exceeding analysts' estimates. Danaher (DHR) shares dropped 13% despite the company reporting Q2 earnings and revenue above expectations, and raising its 2026 earnings guidance.

Dow JonesNasdaq CompositeS&P 500$DHR$IBKR$MMM$MU$NVS$SCHW$SKHY
Japan

Potential Middle East Ceasefire Lifts US Equity Futures Pre-Bell

US equity futures were higher pre-bell Tuesday as traders digested new efforts by mediators to put peace talks between the US and Iran back on track.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 1.3% higher.The US Central Command said it completed another round of attacks against Iran on Monday evening, as news reports said Tuesday that Iran-backed Houthis in Yemen are planning a naval blockade on Saudi Arabia.Mediators are proposing a 10-day ceasefire between the two nations, giving hope that hostilities may de-escalate. Iranian Interior Minister Eskandar Momeni has asked Pakistan to resume its mediation role in the conflict and traveled to Islamabad for further discussions, according to a Reuters report.Traders took note of the latest round of earnings, with Novartis (NVS) reporting lower core earnings and higher net sales for Q2.Interactive Brokers Group (IBKR) is expected to report its Q2 financial results after the market closes. Analysts polled by FactSet expect adjusted earnings of $0.64 per share and revenue of $1.8 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.3% at $90.36 per barrel and US West Texas Intermediate crude 1.3% higher at $83.55 per barrel.The economic calendar is vacant.

Dow JonesNasdaq CompositeS&P 500$IBKR$NVS
Sectors

Sector Update: Healthcare Stocks Mixed Premarket Friday

Healthcare stocks were mixed premarket Friday, with the State Street Health Care Select Sector SPDR ETF (XLV) up 0.4% and the iShares Biotechnology ETF (IBB) 0.7% lower.GSK (GSK) shares were down more than 3% after the company said it will discontinue development of camlipixant for refractory chronic cough after the drug produced mixed results in the phase 3 CALM-1 and CALM-2 trials.Novartis (NVS) shares were up more than 1% after the company said the US Food and Drug Administration approved Fabhalta under the traditional approval pathway to slow kidney function decline in adults with primary immunoglobulin A nephropathy at risk of disease progression.Takeda Pharmaceutical (TAK) shares were 0.6% higher after the company said new phase 3 data showed its oral TYK2 inhibitor, zasocitinib, delivered high rates of skin clearance across difficult-to-treat body sites in adults with moderate-to-severe plaque psoriasis.

$GSK$IBB$NVS$TAK$XLV
Asia Markets

European Equities Traded in the US as American Depositary Receipts Edge Lower Thursday

European equities traded in the US as American depositary receipts were slightly lower on Thursday morning, down 0.07% to 1,911.26 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by pharmaceutical company Novo Nordisk (NVO) and drink and brewing company Anheuser-Busch Inbev (BUD), which rose 1.9% and 0.9% respectivelyThey were followed by pharmaceutical company Novartis (NVS), which added 0.8%.The decliners from continental Europe were led by tech companies Nokia (NOK) and Ericsson (ERIC), which fell 7.8% and 1.8% respectively.They were followed by bank Santander (SAN), which shed 1.5%.From the UK and Ireland, the gainers were led by advertising and PR agency WPP (WPP) and telecom giant Vodafone (VOD), which rose 3.8% and 3% respectively. They were followed by beverage company Diageo (DEO), which added 2.5%.The decliners from the UK and Ireland were led by semiconductor company Arm (ARM) and pharmaceutical company Compass Pathways (CMPS), which lost 6.9% and 2.1% respectively.

$ARM$BUD$CMPS$DEO$ERIC$NOK$NVO$NVS$SAN$VOD$WPP
Wire

Novartis' Vanrafia Wins Health Canada Approval for IgA Nephropathy

Novartis (NVS) said Health Canada approved Vanrafia to reduce proteinuria in adults with primary immunoglobulin A nephropathy who are at risk of rapid disease progression.The approval was based on an interim analysis of a Phase 3 trial, which showed a statistically significant reduction in 24-hour urine protein-to-creatinine ratio at week 36 with Vanrafia compared with placebo, Novartis said Monday in a statement.Price: $153.62, Change: $-0.43, Percent Change: -0.28%

$GE$NVS
Commodities

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Thursday Amid Latest Economic Reports

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.3%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.4% in Thursday's premarket activity, amid the latest economic reports.US stock futures were mixed, with S&P 500 Index futures rose 0.4%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures retreating 0.5% before the start of regular trading.US initial jobless claims fell to 215,000 from 216,000 in the prior week, coming in below economists' expectations of 218,000.US nonfarm payrolls increased by 57,000 in June, well below expectations for a gain of 113,000 and down from a revised 129,000 increase in May, while the unemployment rate edged down to 4.2% from 4.3%, beating forecasts for no change.May's factory orders report will be released at 10 am ET, followed by the weekly EIA natural gas report at 10:30 am ET.The weekly Baker Hughes oil-and-gas rig count will be released at 1 pm ET.In premarket action, bitcoin was up by 1.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.7% higher, Ether ETF (EETH) advanced 2.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 2.8%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased by 0.5%. The VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail ETF (XRT) were inactive.Alibaba (BABA) shares were down more than 1% pre-bell after gaining 2.1% at Wednesday's close. The US Department of Justice said Wednesday that the company and its US-based payment processor, AUS Merchant Services, agreed to pay a combined $600 million to resolve US allegations over illegal product sales on the company's e-commerce platforms.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.7% lower.UBS Group AG (UBS) shares traded up 3.4% in early hours activity after the Financial Times reported that the company plans to begin testing everyday banking services for its US employees as early as December, laying the groundwork for a full-service bank targeting wealthy American clients by mid-2027.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.1%, while the Vanguard Industrials Index Fund (VIS) was inactive and the iShares US Industrials ETF (IYJ) was flat.Forgent Power Solutions (FPS) stock was down more than 2% before the opening bell after the company priced an upsized public offering of its class A common shares at $49 each.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.6%, the Vanguard Health Care Index Fund (VHT) was flat, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.9% higher.Novartis (NVS) stock was up more than 1% premarket after the company received European Commission approval for its gene replacement treatment, Itvisma, to treat spinal muscular atrophy in patients aged 2 and older.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was flat.TotalEnergies (TTE) stock advanced more than 1% before the opening bell after the company agreed to sell its 85% interest in Block 2E offshore Malaysia to INPEX for $350 million.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.9%, and the iShares US Technology ETF (IYW) was 0.7% higher, while the iShares Expanded Tech Sector ETF (IGM) down 1.9%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined by 1.2%, while the iShares Semiconductor ETF (SOXX) rose by 1.9%.Nvidia (NVDA) shares were down 0.4% in premarket activity, extending losses from the previous day's 1.3% fall. The company said it is expanding access to its artificial intelligence infrastructure by introducing a revenue-sharing model that grants token credits to developers in exchange for a portion of the recurring earnings from the cloud networks.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 1.8% to $67.31 per barrel on the New York Mercantile Exchange. Natural gas was down by 1.2% to $3.18 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 1%, while the United States Natural Gas Fund (UNG) was 0.7% lower.Gold futures for July were up by 1.1% to $4,129.62 an ounce on the Comex. Silver futures was up by 2.3% to $61.89 an ounce. SPDR Gold Shares (GLD) advanced by 2.3%, and the iShares Silver Trust (SLV) was 3.6% higher.

Dow JonesNasdaq CompositeS&P 500$BABA$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$FPS$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVDA$NVS$PMR$QQQ$RTH$SLV$SOXX$SPY$TTE$UBS$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Healthcare Stocks Higher Late Afternoon

Healthcare stocks rose late Thursday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each adding 1.4%.The iShares Biotechnology ETF (IBB) climbed 3%.In corporate news, Adial Pharmaceuticals (ADIL) shares surged 45% after it said Thursday it has acquired Azora Therapeutics, a biopharmaceutical company developing treatments for serious inflammatory diseases.Novartis (NVS) shares gained 4.2% after the company said a phase 1/2 trial of its experimental treatment del-brax met both primary and key secondary endpoints in people with facioscapulohumeral muscular dystrophy.Novo Nordisk (NVO) won approval from UK regulators for its Wegovy pill, a daily oral version of semaglutide, for weight management in adults with obesity or overweight and a weight-related condition. Novo shares rose 2.8%.Some employers in the US intend to drop coverage of GLP-1 medications for weight loss in 2027 amid the increasing popularity of Novo Nordisk's Wegovy and Eli Lilly's (LLY) Zepbound and Foundayo, Reuters reported, citing the Business Group on Health, a policy research group for large employers. Lilly shares were up 2.9%.

$ADIL$LLY$NVO$NVS
Sectors

Sector Update: Healthcare Stocks Rise Thursday Afternoon

Healthcare stocks rose Thursday afternoon, with the NYSE Healthcare Index adding 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 0.5%.The iShares Biotechnology ETF (IBB) climbed 1.9%.In corporate news, Novartis (NVS) shares gained 2.9% after the company said a phase 1/2 trial of its experimental treatment del-brax met both primary and key secondary endpoints in people with facioscapulohumeral muscular dystrophy.Novo Nordisk (NVO) won approval from UK regulators for its Wegovy pill, a daily oral version of semaglutide, for weight management in adults with obesity or overweight and a weight-related condition. Novo shares rose 1.2%.Some employers in the US intend to drop coverage of GLP-1 medications for weight loss in 2027 amid the increasing popularity of Novo Nordisk's Wegovy and Eli Lilly's (LLY) Zepbound and Foundayo, Reuters reported, citing the Business Group on Health, a policy research group for large employers. Lilly shares were up 1.5%.

$LLY$NVO$NVS
Sectors

Sector Update: Healthcare

Healthcare stocks rose Thursday afternoon, with the NYSE Healthcare Index adding 0.8% and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 0.6%.The iShares Biotechnology ETF (IBB) climbed 2%.In corporate news, Novartis (NVS) shares gained 2.9% after the company said a phase 1/2 trial of its experimental treatment del-brax met both primary and key secondary endpoints in people with facioscapulohumeral muscular dystrophy.

$NVS
Asia Markets

Update: US Equity Futures Rise Pre-Bell After US Says Strikes Completed Against Iran

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Thursday as the US said it completed attacks against Iran after another round of "self-defense strikes."Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.7% higher.The strikes, which started after a US Army Apache helicopter was shot down on Wednesday, were conducted at the direction of President Donald Trump, US Central Command said in an X post. Iran responded with attacks on Kuwait and Bahrain, while Israel warned of launches from Lebanon.Trump later told Fox News that he had spoken directly with Iranian officials, who had asked him to stop bombing.Traders watched the latest round of earnings, with Oracle (ORCL) posting higher fiscal Q4 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.5% at $93.52 per barrel and US West Texas Intermediate crude 0.7% higher at $90.66 per barrel.The US Producer Price Index, released at 8:30 am ET, rose by 1.1% in May following a similar increase in April, above the 0.7% gain expected in a survey compiled by Bloomberg. The weekly jobless claims bulletin showed 229,000 new unemployment claims for the week ended June 6, compared with the 225,000 in the prior week and above the 220,000 expected.In other world markets, Japan's Nikkei closed 0.1% higher, Hong Kong's Hang Seng ended 0.7% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was up 0.6%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, Oracle stock was down 11% after the company said it plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale. Alibaba (BABA) and JD.com (JD) shares fell 4.5% and 2.3%, respectively, following media reports of complaints by Chinese regulators over allegedly misleading promotions.On the winning side, Tesla's (TSLA) stock was up 0.9% after Belgian government official Annick De Ridder said that the company's full self-driving technology has been approved in the country. Applied Materials (AMAT) shares rose 4.2% after the company said it has expanded its manufacturing and R&D operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand. Novartis (NVS) stock was up 2.4% after the company said the phase I/II study of its experimental therapy, del-brax, met both primary and key secondary endpoints in patients with facioscapulohumeral muscular dystrophy.

Dow JonesNasdaq CompositeS&P 500$AMAT$BABA$JD$NVS$ORCL$TSLA
Sectors

Sector Update: Healthcare Stocks Higher Pre-Bell Thursday

Healthcare stocks were higher premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) gaining 0.3% and the iShares Biotechnology ETF (IBB) advancing 0.1%.Novartis (NVS) stock was up more than 2% premarket after the company said a phase 1/2 study of its experimental therapy, del-brax, met both primary and key secondary endpoints in patients with facioscapulohumeral muscular dystrophy.Guardant Health (GH) shares gained more than 1% pre-bell after the company said the US Food and Drug Administration has approved Guardant360 CDx for Boehringer Ingelheim's Hernexeos in adults with HER2-mutant advanced non-small cell lung cancer.Tilray Brands (TLRY) stock advanced 0.6% after its BrewDog unit said it is reducing pint prices to 2 UK pounds ($2.67), or about 1998 levels, at its Scottish bars for an upcoming 72-hour bank holiday weekend.

$GH$IBB$NVS$TLRY$XLV
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid US Attacks on Iran

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.3% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.6% in Thursday's premarket activity, amid US attacks on Iran and ahead of economic data.US stock futures were also higher, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures gaining 0.8% before the start of regular trading.May's producer price index, a measure of wholesale prices, and the weekly jobless claims bulletin are scheduled to be released at 8:30 am ET.Weekly natural gas stocks post at 10:30 am ET.In premarket action, bitcoin was up by 3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.9% higher, Ether ETF (EETH) advanced 1.9%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 0.1%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1.4% and the Vanguard Industrials Index Fund (VIS) added 0.3%, while the iShares US Industrials ETF (IYJ) was 0.6% lower.PureCycle Technologies (PCT) stock was down more than 16% before the opening bell after the company priced simultaneous public offerings of debt and equity to generate $395 million in total gross proceeds.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) and the iShares US Technology ETF (IYW) advanced 1.4% each, while the iShares Expanded Tech Sector ETF (IGM) was up 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 3.2%, while the iShares Semiconductor ETF (SOXX) rose by 3%.Oracle (ORCL) shares were down more than 10% in premarket activity as the cloud computing company announced plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.7% lower.WisdomTree (WT) shares were down more than 5% pre-bell, continuing from a 1.9% fall in the previous session. The company reported higher assets under management and net inflows for May.HealthcareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) was down 0.5%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.9% higher.Novartis (NVS) stock was up more than 2% premarket after the company said a phase 1/2 study of its experimental therapy, del-brax, met both primary and key secondary endpoints in patients with facioscapulohumeral muscular dystrophy.EnergyThe iShares US Energy ETF (IYE) advanced 0.02%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1%.BP (BP) stock was up more than 2% before market open a day after the company said its Whiting refinery team held a 63rd formal bargaining meeting with the United Steelworkers Local 7-1 committee to discuss a new labor contract.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated by 0.01%. The iShares US Consumer Staples ETF (IYK) fell by 0.7%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.3%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) rose by 0.8%.Tesla (TSLA) shares were up nearly 1% pre-bell after Annick De Ridder, Flemish Minister of Mobility, Public Works, Ports, and Sport, said in an X post that the EV maker's full self-driving technology has been approved in Belgium.CommoditiesFront-month US West Texas Intermediate crude oil rose 0.9% to $90.83 per barrel on the New York Mercantile Exchange. Natural gas was down 1.5% at $3.14 per 1 million British Thermal Units. The United States Oil Fund (USO) rose 0.4%, while the United States Natural Gas Fund (UNG) was 1.2% lower.Gold futures for July retreated by 0.7% to $4,105.70 an ounce on the Comex. Silver futures declined by 1.3% to $63.87 an ounce. SPDR Gold Shares (GLD) was up by 0.04%, and the iShares Silver Trust (SLV) decreased by 0.2%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BP$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVS$ORCL$PCT$PMR$QQQ$RTH$SLV$SOXX$SPY$TSLA$UNG$USO$VDC$VHT$VIS$WT$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Healthcare

Healthcare stocks were higher premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) gaining 0.3% and the iShares Biotechnology ETF (IBB) advancing 0.9%.Novartis (NVS) stock was up more than 2% premarket after the company said a phase I/II study of its experimental therapy, del-brax, met both primary and key secondary endpoints in patients with facioscapulohumeral muscular dystrophy.

$IBB$NVS$XLV
Wire

Novartis Says Cosentyx Shows Sustained Remission in Phase 3 Trial

Novartis (NVS) said Wednesday new Cosentyx data from a late-stage trial in polymyalgia rheumatica showed a statistically significant, clinically meaningful difference in sustained remission rates against placebo and significant steroid sparing.The effect of Cosentyx treatment was sustained through week 52, the company said, adding that the trial met all primary and secondary endpoints, and no new safety signals were identified.Novartis said it has submitted Cosentyx for regulatory review in the US, EU, and Japan, with other filings expected to follow throughout 2026, it added.Separately, Novartis Canada said it has reached an agreement with the pan-Canadian Pharmaceutical Alliance for the public reimbursement of Scemblix for adult patients with newly diagnosed Philadelphia chromosome-positive chronic myeloid leukemia in the chronic phase.Price: $143.53, Change: $+0.05, Percent Change: +0.03%

$NVS
International

US Equity Futures Mixed Pre-Bell as US, Iran Continue Military Strikes in Middle East

US equity futures were mixed pre-bell Wednesday as the US and Iran exchanged military strikes in the Middle East and progress on peace talks remained uncertain.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% higher.The US Central Command reported Tuesday the defeat of several Iranian ballistic missiles and drones launched at Kuwait and Bahrain. The military command said it also conducted "self-defense strikes" on Iranian forces on Qeshm Island in the Strait of Hormuz.President Donald Trump said Iran has agreed to not have nuclear weapons, according to a CNBC report citing the New York Post's "Pod Force One" podcast. "I mean, now they can change their mind, but that was one of the things they've had to agree, they've agreed to that. That was the big thing," he said.Traders digested the latest round of earnings, with Palo Alto Networks (PANW) posting higher fiscal Q3 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.5% at $98.38 per barrel and US West Texas Intermediate crude 2.8% higher at $96.39 per barrel.ADP's national employment report showed that private sector employment increased by 122,000 in May, compared with expectations for a 120,000 gain in a survey compiled by Bloomberg.The S&P Global composite purchasing managers' index final report for May, due at 9:45 am ET, is seen to be unchanged at 51.7. April factory orders, due at 10 am ET, are expected to have gained 4.6%, compared with 1.5% previously.Federal Reserve Governor Michael Barr and Dallas Fed President Lorie Logan are slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 2.5% higher, Hong Kong's Hang Seng ended 1.6% lower, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 1% lower in Europe's early afternoon session.In equities, Palo Alto Networks stock was down 3.8% after reporting its fiscal Q3 financial results. Palantir Technologies (PLTR) shares fell 1% after a UK parliamentary committee said that the company's expanding role across the UK public sector represents an "unacceptable point of weakness." Novartis (NVS) stock was down 1% after Celcuity (CELC) reported that detailed results from a phase 3 trial showed its investigational breast cancer treatment gedatolisib outperformed Novartis' alpelisib plus fulvestrant in patients with hormone receptor-positive, HER2-negative, PIK3CA-mutated advanced breast cancer.On the winning side, Sherwin-Williams (SHW) shares were up 3.6% after the company and Nippon Paint Group said they had abandoned their joint attempt to buy AkzoNobel. BP (BP) stock was up 1.3% after the Financial Times reported that the company held advanced talks to sell its UK North Sea oil and gas assets to Ithaca Energy in a deal potentially worth close to 2 billion British pounds ($2.7 billion).

Dow JonesNasdaq CompositeS&P 500$BP$CELC$NVS$PANW$PLTR$SHW

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