The MarketReader Minute
Gilead Sciences is making a $30 million milestone payment to Compugen, following FDA clearance for an investigational new drug application for COM503. This development enhances Gilead's oncology portfolio with a potential first-in-class anti-IL-18 binding protein antibody.
The MarketReader Minute
Some of the largest macro moves in the market today include: Nasdaq 100 Index (US) +1.0%. Ethereum +3.3%. S&P 500 Index (US) +0.6%. Some of the largest moves among US mega-cap stocks include: Broadcom Inc (AVGO) +1.7%. Alphabet Inc (GOOGL) +1.5%. Alphabet Inc (GOOG) +1.5%.
The MarketReader Minute
Baker Hughes Co's stock rose following announcements of gas tech equipment orders exceeding $3 billion, while CF Industries revealed an emissions reduction project with ExxonMobil. Energy stocks like MC and MPC dropped, and the energy sector represented by XLE was the only S&P sector in decline.
The MarketReader Minute
JPM introduced an in-house chatbot, Visa intensified efforts against cybercrime, Berkshire Hathaway saw daily gains, and Aon's stock rose following positive Q2 revenue results. Additionally, recent macroeconomic data showed a higher-than-expected 0.2% increase.
The MarketReader Minute
The United States Michigan Consumer Sentiment Final for July 2024 reported below expectations at 66.4, indicating a downward trend, influencing XLY's movement.
The MarketReader Minute
Key contributors to VGT's performance were Microsoft, NVIDIA, Broadcom, Salesforce, and Qualcomm, with notable movements attributed to positive feedback on Microsoft's AI strategy, NVIDIA's CEO stock sale, and Salesforce's historical market outperformance.
The MarketReader Minute
Some of the largest macro moves in the market today include: Nasdaq 100 Index (US) +1.1%. S&P 500 Index (US) +0.7%. Bitcoin +2.1%. Some of the largest moves among US mega-cap stocks include: NVIDIA Corp (NVDA) +3.2%. Broadcom Inc (AVGO) +2.6%. Meta Platforms Inc (META) +1.7%.
The MarketReader Minute
Tesla (TSLA) rose by 2.4% due to positive updates on the "Actually Smart Summon" feature and strong revenue growth. O'Reilly Automotive (ORLY) saw a 3.8% increase after an analyst raised its price target.
The MarketReader Minute
NOW surged due to strong Q2 earnings and raised price targets, AAPL maintained gains despite market share decline in China, IBM excelled with Q2 earnings surpassing estimates, and CSCO's movement reflected mixed growth indicators compared to industry peers.
The MarketReader Minute
Warren Buffett's Berkshire Hathaway sold over 7 million shares of Bank of America stock, potentially influencing its price positively. Blackstone experienced a notable 10.99% decrease in short interest and collaborated on extending a cash tender offer for Terrafina with MRP Group.
The MarketReader Minute
Valero Energy Corp reported strong financial results and strategic initiatives, while Schlumberger NV opted for delisting from Euronext Paris. The fund's increase coincided with oil price declines in Asian trade due to concerns over Chinese demand and potential market surplus in 2025.
The MarketReader Minute
Gilead Sciences Inc (GILD) saw a stock price increase after positive data release on Biktarvy at the AIDS 2024 Conference, while Sanofi's strong Q2 earnings and collaboration with Regeneron Pharmaceuticals Inc (REGN) on Dupixent drove REGN's market sentiment positively.
