The recent ruling by U.S. District Judge Zahid Quraishi in Trenton, New Jersey, to uphold the law requiring drug manufacturers like Bristol Myers Squibb and Johnson & Johnson to negotiate prices of their blood clot prevention drugs with the U.S government’s Medicare program has sparked controversy in the pharmaceutical industry. Despite the drug companies’ arguments
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Wall Street experienced a day of volatile trading on Monday as investors awaited the Federal Reserve’s upcoming interest rate decision. Key players like Tesla and Apple saw gains in their stock values, propelling the consumer discretionary sector upwards. While Tesla shares climbed due to regulatory approvals for self-driving tech in China, Apple surged following reports
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This tech giant has seen a 4% increase in shares after reporting fiscal third-quarter results that exceeded expectations. The Azure business continued to show momentum, contributing to the positive reaction from investors. This shows that Microsoft is continuing to innovate in the tech space and drive growth. Shares of Alphabet surged more than 11% after
Meta Platforms, the parent company of Facebook, experienced a significant drop of over 14% following the release of lighter-than-expected second-quarter revenue guidance. While first-quarter earnings and revenue exceeded analysts’ estimates, the disappointing second-quarter guidance caused a steep decline in the company’s stock value. This indicates that investors are particularly focused on future performance and growth
SK Hynix, a prominent South Korean memory chipmaker, has reported a remarkable turnaround in its financial performance in the first quarter of the year. With a net profit of 1.92 trillion South Korean won ($1.39 billion), the company has managed to reverse the loss of 2.58 trillion won that was incurred in the same period
The fourth installment in the popular Korean franchise, The Roundup: Punishment, has made history by setting a new all-time opening day presales record in its home market. With over 834,000 ticket reservations as of Wednesday morning local time, the crime actioner has accounted for an impressive 95.5% of all sales. This surpasses the franchise’s own
Xiaomi, a Chinese smartphone company, has recently made a foray into the electric vehicle market with its new electric SU7 sedan. Despite undercutting Tesla’s Model 3 on price, the new electric vehicle has been selling better than expected. As of April 20, Xiaomi has received more than 70,000 orders for the SU7 sedan, putting the
The U.S. Federal Trade Commission took legal action on Monday to prevent the acquisition of Capri Holdings by Coach and Kate Spade’s parent company, Tapestry. This move by regulators has put a temporary halt to a deal that would join two significant names in American luxury retail and consolidate six fashion brands under one company.
Tesla, a leading electric vehicle (EV) manufacturer, is facing challenges in key markets such as China and Germany. The company recently implemented price cuts in these markets, signaling its struggles amid declining sales and increasing competition. This move comes after similar reductions in the United States, highlighting the broader challenges that Tesla is currently facing.
Amidst the ongoing Q4 FY24 earnings season, Goldman Sachs analysts have conducted a thorough recalibration of their projections for the Indian pharmaceutical sector. This recalibration takes into account a wide spectrum of variables, ranging from monthly sales data to currency fluctuations. One of the key observations made by the analysts is that the sector is
In a recent move, JPMorgan upgraded Lockheed Martin to Overweight with a $518 price target. The reasoning behind this upgrade stems from Lockheed Martin’s lackluster performance in comparison to the broader market. Despite remaining unchanged year-to-date and experiencing a 5% decline over the past year, JPMorgan sees potential catalysts for growth in the defense industry.
Lululemon, the popular athletic apparel retailer, has made the decision to close its distribution center in Sumner, Washington, and lay off 128 employees. This move comes after the company opened a new massive warehouse outside of Los Angeles. The closure is part of Lululemon’s growth strategy, which includes evaluating its distribution network to meet the
Despite recent safety issues that have plagued the aviation industry, airline executives are reporting a continued strong demand for flights. United Airlines, along with other major carriers, are anticipating record numbers of travelers this summer. This trend is evident in the record-breaking sales days that have been observed this year. The aviation industry has faced