Biotech and Pharma

Novo Nordisk stock was downgraded to Neutral from Buy by UBS analysts, who cited the threat posed by its U.S. rival.

Second-quarter adjusted earnings came in at $4.52 a share on revenue of $2.96 billion, beating expectations.

Berkshire Hathaway stock fell after second-quarter operating profit after tax fell 4% in the period, while Palantir shares were rising ahead of earnings.

The drugmaker reported a narrower-than-expected loss in the second quarter.

The Renaissance IPO ETF, which invests in newly public stocks, is up 5% this year and has soared 40% from its low point of the year in early April.

Apple’s iPhone sales jump more than 13% in the tech giant’s fiscal third quarter but the stock trades lower, while Amazon falls on a weaker-than-expected forecast for third-quarter operating income.

A Lilly study showed Mounjaro resulted in a lower risk of heart attacks and strokes in patients with diabetes compared with the older drug Trulicity.

The Washington Post reported the CMS is considering a plan that could allow Medicare plans to pay for the drugs.

The biotech company reported second-quarter financial results on Friday ahead of market open, a day after announcing plans to cut 10% of its staff.

U.S. sales of Eylea HD and Eylea, treatments for eye conditions like wet age-related macular degeneration, decreased 25% in the quarter from last year

Trump sets a 10% baseline tariff, Apple’s quarter boosted by iPhone sales, Figma stock more than triples in IPO, and more news to start your day.

The president threatened to “deploy every tool” in the administration’s arsenal if drug companies don’t cut certain prices by late September.

Microsoft’s market cap briefly surpasses $4 trillion, with the stock getting a lift from cloud revenue that rose 27% in the software giant’s fiscal fourth quarter, while second-quarter revenue at Meta Platforms jumps 22%.

Second-quarter EPS came in at $2.97 on revenue of $15.4 billion, beating analysts' expectations.

Cobenfy is one of the key products Bristol is counting on to take up the slack as patents on three of its top-selling drugs expire in the coming years.

Fed holds rates steady, Microsoft nears $4 trillion valuation, Meta’s earnings blowout, and more news to start your day.

Humana boosts full-year profit guidance and the stock rises while SoFi falls after announcing an underwritten public offering of $1.5 billion of common shares.

The agency has whipsawed in its decisions about Sarepta’s Elevidys in recent weeks.

The biotech sector is facing a pivotal moment, after a frustrating year of stalled rallies.

The maker of Ozempic and Wegovy just had its worst day since Black Monday 1987

China trade talks wrap up, Berkshire’s potential railroad deal, oil prices spike, and more news to start your day.

Revenue at SoFi jumps 44%, UnitedHealth slides after restoring financial guidance, and Sarepta soars after being notified by the FDA the company may lift its voluntary pause on shipments of Elevidys for ambulatory patients with Duchenne muscular dystrophy.

The drugmaker unexpectedly cuts its full-year guidance, citing lower sales expectations for its blockbuster drugs Wegovy and Ozempic in the U.S. market.

There is a growing list of challenges to drugs and programs Merck hopes will take up the slack from Keytruda.

Shipments of the medicine were paused by request by the FDA, following safety concerns.