Boxes of tablets, produced by Novartis AG, sit on a pharmacy counter.Bloomberg | Bloomberg | Getty ImagesSwiss pharmaceutical firm Novartis said Thursday that it expects its Kisqali breast cancer treatment to be the next blockbuster drug within its portfolio, as it looks to shift reliance away from its Entresto heart failure therapy.Sales of Kisqali, which treats metastatic breast cancer, surged 64% globally on a constant currency basis in the three months to June, the company said in its second-quarter sales report. That includes 100% growth in the U.S.It follows a 56% increase in Kisqali sales in the first quarter to March.Speaking on…
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CoreWeave could be in big trouble in the near future, according to HSBC. The firm initiated coverage of CoreWeave with a reduce rating and a $32 per share price target. signals for more than 77% downside from Wednesday’s close. Analyst Abhishek Shukla said that because most of CoreWeave’s revenue comes from only a few customers that also use their own software, thus diluting its “value proposition.” CRWV YTD mountain CoreWeave stock in 2025. “CoreWeave’s key customers, namely Microsoft, Open AI, and Nvidia, do not use CoreWeave’s software services, according to SemiAnalysis,” the analyst said. “We believe this diminishes the competitive…
Cars drive along the 110 Freeway in Los Angeles, California, U.S., May 22, 2025. Daniel Cole | ReutersThe U.S. auto safety agency is shedding more than 25% of its employees under financial incentive programs to depart the government offered by the Trump administration, according to data provided to Congress seen by Reuters.The National Highway Traffic Safety Administration, part of the Transportation Department, is shrinking from 772 employees as of May 31 to 555 under the program. The Federal Highway Administration and Federal Transit Administration are also both losing more than 25% of their staff.Representative Rick Larsen, top Democrat on the House Transportation and Infrastructure…
People wait in a security line operated by the Transportation Security Administration (TSA) at John F. Kennedy (JFK) Airport on May 24, 2016 in New York, New York. Spencer Platt | Getty ImagesTravelers giddy about being able to keep their shoes on while walking through TSA checkpoints at the airport again may have something else to look forward to: changes to how much liquid they can carry.Homeland Security Secretary Kristi Noem said Wednesday during a conference hosted by “The Hill” that she is questioning “everything TSA does” and spoke of possible changes to the amount of liquids travelers can tote in…
Signage for Taiwan Semiconductor Manufacturing Company (TSMC) at it’s fabrication plant in Phoenix, Arizona, US, on Monday, March 3, 2025. Rebecca Noble | Bloomberg | Getty ImagesTaiwan Semiconductor Manufacturing Company CEO C.C. Wei on Thursday said the company is seeing “strong interest” from its leading U.S. customers and is working to speed up its volume production schedule by several quarters.TSMC is the world’s largest contract chip manufacturer, and the company has pledged to invest a total of $165 billion in advanced semiconductor manufacturing in the U.S. The company shared updates to its global manufacturing plans during its second-quarter earnings call on Thursday.”TSMC…
Deutsche Bank has more than tripled its stock price target for MP Materials , after the rare-earths miner secured a strategic investment from the Defense Department and a major contract with Apple . Deutsche now sees MP Materials shares rising to $67 compared with $20 previously. The new target implies 15% upside from Wednesday’s close of $58.22 per share. The Pentagon is providing MP with a guaranteed price floor that will help “transform MP from a commodity producer vulnerable to Chinese pricing dominance to a strategic partner,” Deutsche analyst Corinne Blanchard told clients in a Wednesday note. And the Defense…
Plant Vogtle Nuclear Power Plant in Waynesboro, GA, August 15, 2024.Van Applegate | CNBCPresident Donald Trump’s push to approve nuclear plants as quickly as possible threatens to weaken the independent regulator tasked with protecting public health and safety, former federal officials warn. Trump issued four sweeping executive orders in May that aim to quadruple nuclear power by 2050 in the U.S. The White House and the technology industry view nuclear as powerful source of reliable electricity that can help meet the growing energy needs of artificial intelligence.The most consequential of Trump’s orders aims to slash regulations and speed up power plant…
Stock and bond markets and the value of the U.S. dollar will plunge if President Donald Trump fires Federal Reserve Chairman Jerome Powell, Sen. Elizabeth Warren warned Thursday.”I think they crash,” Warren, D-Mass., said on CNBC’s “Squawk Box” when asked what would happen if Trump succeeds in pushing Powell out as head of the U.S. central bank.As the top Democrat on the Senate Banking Committee, Warren has criticized Powell’s decision making in the past. But she argued Thursday that the president’s relentless attacks on the central bank leader risk undermining the independence of the Fed, which is key for U.S.…
Check out the companies making the biggest moves in premarket trading: PepsiCo — The snack and beverage company rose 3% following its second-quarter beat on both the top and bottom lines. Adjusted earnings came in at $2.12 per share on revenues of $22.73 billion, versus the $2.30 per share on revenue of $22.28 billion, according to LSEG. Starbucks — The coffee chain fell 1.6% on the back of a downgrade at Jefferies to underperform from hold. The firm believes the stock has surpassed reasonable expectations for improving fundamentals. Taiwan Semiconductor Manufacturing — Shares of the chip manufacturer added 3.3% after…
Investors should dump Starbucks , according to Jefferies. The research firm downgraded the coffee chain to underperform from hold. Analyst Andy Barish’s $76 price target also signals downside of 18% from Wednesday’s close. Shares have rallied more than 13% over the past three months, a move which Barish thinks is disconnected from the company’s reality. “We think expectations have once again settled too far ahead of reality: no strong evidence yet (in comps or margins) of meaningful and lasting fundamental improvements to the business, significant investments needed near-and medium-term into people & tech that could weigh on margins/earnings, and some…
