Author: FX
marekuliasz/iStock via Getty Images Sales of diabetes and weight loss drugs are booming, propelling Eli Lilly (NYSE:LLY) and Novo Nordisk (NVO) to become the top performing large pharma or biotech companies in August. For the month, Lilly (LLY) gained ~22.3% while Novo (NVO) returned ~14.8%. In August, both companies released quarterly earnings. Lilly (LLY) beat on both lines and boosted its full-year guidance, while Novo (NVO) did the same and raised its 2023 sales outlook on increasing demand for its weight loss and diabetes meds. Year to date, the companies have also done well, with Lilly (LLY) and Novo (NVO)…
UVXY, MSOS and YOLO among weekly ETF movers Source link
Scott Olson The most recent test for the retail sector amid consumer discretionary spending pressure is the ongoing back-to-school season. Jefferies conducted a survey of nearly 600 U.S. consumers with children in school or college, and the results indicated that consumers intend to spend more on back-to-school shopping this year in comparison to last year. Analyst Randal Konik noted that apparel, school/office supplies, and accessories are categories where consumers plan to direct more spending, while private label continues to be an area of focus by consumers. Nearly half of U.S. consumers plan to spend more on back-to-schools season. However, 70%…
By Rosalba O’Brien (Reuters) -Jimmy Buffett, the American singer-songwriter who went from Key West beach bum to billionaire behind the always-on-vacation “Margaritaville” commercial empire, has died at the age of 76. “Jimmy passed away peacefully on the night of September 1st surrounded by his family, friends, music and dogs. He lived his life like a song till the very last breath and will be missed beyond measure by so many,” a statement on the website said on Saturday. Buffett, nominated for two Grammy awards and winner of numerous Country Music Awards, built his name touring his folk-country songs around the…
© Reuters. MakerDAO co-founder Rune Christensen has submitted a proposal to build the decentralized finance project’s upcoming native chain off of a fork of Solana’s codebase, and not the Virtual Machine despite its long-running ties with Ethereum. MakerDAO’s native chain or what is currently dubbed as “NewChain,” is part of the fifth and final phase of the MakerDAO “Endgame” upgrade announced in May. Continue Reading on Coin Telegraph Source link
© Reuters. Trucks carrying industrial equipments wait because of the closure of the border after the coup in Gabon, in the border town of Kye-Ossi, Cameroon August 31, 2023. REUTERS/Desire Danga Essigue/File Photo LIBREVILLE (Reuters) -The leader of a coup that this week overthrew Gabon’s President Ali Bongo said on Friday that he wanted to avoid rushing into elections that “repeat past mistakes”, as pressure mounted on the junta to hand back power to a civilian government. Military officers led by General Brice Oligui Nguema seized power on Wednesday, minutes after an announcement that Bongo had secured a third term…
DariaRen Airbnb (NASDAQ:ABNB) jumped 5.1% after hours Friday, and Blackstone (NYSE:BX) rose 4.3%, on news that the stocks would join the S&P 500. S&P Dow Jones Indices said that as part of its quarterly rebalancing, Blackstone would be replacing Lincoln National (LNC), which will head to the SmallCap 600. Airbnb is replacing Newell Brands (NWL), also headed to the SmallCap 600. Lincoln National (LNC) fell 1.8% and Newell Brands (NWL) slipped 3%. The S&P MidCap 400 also sees a number of additions, including Permian Resources (PR), +4.4% after hours; Gaming & Leisure Properties (GLPI), +1.6%; GoDaddy (GDDY), +2.6%; Morningstar (MORN),…
Biogen in $1.5B unsecured loan facility for Reata acquisition Source link
Share: Saudi Arabia expected to extend its 1 million bpd output cut into October. Russia agrees with OPEC to cut exports next month. Positive business activity reports from China improve the oil demand outlook. US unemployment rate rises, wage growth slows, potentially pausing interest rate hikes. Western Texas Intermediate (WTI), the US crude oil benchmark, rose to a new year-to-date (YTD) high of $85.57, snapping a two-week losing streak due to additional supply cuts led by Saudi Arabia and Russia. WTI is trading at $85.56. gains 2.79%. Saudi Arabia and Russia lead supply cuts as US commercial crude…
Share: XAG/USD peaked at a daily high of $24.80 then settled near the $24.15 area. US NFPs and PMI figures from August beat expectations. Still, wages decelerated, and Unemployment rose. The USD strength drove the grey metal downwards. At the end of the week, the XAG/USD closed with losses but managed to hold some weekly gains, closing near $24.15. On the data front, the US released soft Average Hourly Earnings, while Nonfarm Payrolls (NFPs) and ISM Manufacturing PMI figures came in higher than expected, helping the USD to get a boost. US yields sharply declined during the American sessions…