Concerns over Novo Nordisk’s growth path is leading Bank of America to step to the sidelines. The bank downgraded the Danish pharmaceutical giant to neutral from buy and decreased its price target to $60. That updated target still implies more than 11% upside from Tuesday’s close. “We have a Neutral rating on Novo Nordisk given c7% 2026- 31E sales CAGR with Wegovy and Ozempic trends looking tougher in 2H25 with further pressures into FY26-27 including Canada semaglutide [loss of exclusivity] and [Inflation Reduction Act] impacts,” analyst Sachin Jain wrote in a Wednesday note. NVO mountain 2025-07-28 NVO, week-to-date The downgrade…
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Hiring at private companies rebounded at a stronger than expected pace in July, indicating the labor market is holding its ground, ADP reported Wednesday.Payrolls rose by a seasonally adjusted 104,000 for the month, reversing a loss of 23,000 in June and topping the Dow Jones forecast from economists for an increase of 64,000. The June number was revised up from an initially reported loss of 33,000.Though the pace of hiring is well off where it stood last year, the June total was the best since March and consistent with a slowing but still fairly vibrant jobs picture.”Our hiring and pay…
Jeffrey Epstein associate Ghislaine Maxwell listens to her sentencing from Judge Alison Nathan in a courtroom sketch in New York City, U.S. June 28, 2022. Jane Rosenberg | ReutersThe Department of Justice in late-night court filings on Tuesday gave federal judges additional information as part of its efforts to get grand jury proceedings related to notorious sex offenders Jeffrey Epstein and Ghislaine Maxwell unsealed.The DOJ told the judges that it has now notified all but one of the victims mentioned in those grand jury transcripts.Manhattan District Judge Paul Engelmayer last week had pointedly noted that the DOJ may not have…
Catastrophe bond sales are skyrocketing, underscoring the growing appeal of what was once considered a relatively niche corner of the insurance industry. The issuance of so-called catastrophe bonds, or CAT bonds, has soared to $18.2 billion so far this year, according to specialist data provider Artemis.bm. With five months to spare, that’s already more than the record of $17.7 billion set across the whole of 2024. “It is quite something. It’s really been an impressive year,” Steve Evans, owner and editor-in-chief at Artemis.bm, told CNBC by video call. “We’re definitely going to see the first ever $20 billion year. It…
Glenn Fogel, Booking Holdings CEO, joins ‘Squawk Box’ to discuss the company’s quarterly earnings results, state of travel, weaker travel spending in the U.S., consumer travel demand, impact of AI, and more. Source link
Piotr Swat | Lightrocket | Getty ImagesPalo Alto Networks will take over Israeli identity security provider CyberArk in a deal valued at roughly $25 billion.The California-based cybersecurity company will pay $45 a share for CyberArk, representing a 26% premium to its share price Friday.Shares of Palo Alto fell more than 7% before the bell Wednesday, building on a 5% loss from Tuesday. CyberArk’s stock dipped 2%.”Our market entry strategy has always been to enter categories at their inflection point, and we believe that moment for Identity Security is now,” Palo Alto CEO and chairman Nikesh Arora said in a release…
UBS is more optimistic on Peloton heading into its fiscal fourth-quarter earnings. The bank upgraded shares of the exercise equipment company to a buy rating from neutral. Analyst Arpine Kocharyan’s new price target of $11, upped from $7.50, offers upside of 78% from Peloton’s Tuesday close. Shares popped more than 7% after the upgrade. PTON 5D mountain PTON 5-day chart Kocharyan noted that an improvement in online traffic could hint at a stabilizing subscriber base. “While we see subscription price increases anchoring near-term top line growth, we might also see underlying net subscriber decline stabilizing into FY’26, outside of price…
Apple CEO Tim Cook and Senior Vice President of Software Engineering Craig Federighi speak during Apple’s annual World Wide Developers Conference at the company’s headquarters in Cupertino, California, U.S., June 9, 2025.Laure Andrillon | ReutersWhile its megacap tech peers are bragging about building island-sized data centers filled with Nvidia chips to power artificial intelligence devices of the future, Apple remains largely on the sidelines.Wall Street is getting concerned.The iPhone maker is the second-worst performer this year among the so-called Magnificent Seven, with its stock down over 15% as of Tuesday’s close. Tesla, down 20%, is the only other member of…
U.S. President Donald Trump gestures before boarding Air Force One as he returns to Washington, D.C., in Lossiemouth, Scotland, Britain, July 29, 2025. Evelyn Hockstein | ReutersPresident Donald Trump said that he will not extend Friday’s deadline for his “reciprocal” tariffs on dozens of countries to restart.”THE AUGUST FIRST DEADLINE IS THE AUGUST FIRST DEADLINE — IT STANDS STRONG, AND WILL NOT BE EXTENDED. A BIG DAY FOR AMERICA!!!” Trump wrote on Truth Social on Wednesday morning.This is breaking news. Please refresh for updates. Source link
Attitudes on Capitol Hill toward exchange-traded funds and cryptocurrency may be changing. Teucrium CEO and CIO Sal Gilbertie told CNBC’s “ETF Edge” regulators are becoming “more friendly” under President Donald Trump versus the Biden administration.”It’s a completely different environment in Washington right now,” Gilbertie said on Monday. “It’s more welcoming towards innovation — especially in crypto… and that’s a relief for us.”Gilbertie’s firm oversees the Teucrium 2x Long Daily XRP ETF (XXRP), which aims to return double the daily performance of the cryptocurrency XRP, according to the fund’s website. As of Tuesday’s close, the ETF is up 96% since its April…
