Swiss pharmaceutical giant Roche said Wednesday that it had struck a deal worth up to $5.3 billion to develop Danish biotech Zealand Pharma’s obesity drug candidate, as the two firms seek to compete in the burgeoning weight loss drug market.The deal will see the two companies co-develop and co-commercialize petrelintide, Zealand Pharma’s amylin analog as a standalone therapy, as well as a fixed-dose combination with Roche’s lead incretin asset CT-388. Under the agreement, Zealand Pharma will receive upfront cash payments of $1.65 billion, with the potential of milestone payments taking the total to up to $5.3 billion, depending on phase-3 trials and…
Author: usaeverydaylife
A solid rebound could be in store for U.S. stocks after a wildly volatile few weeks, according to Piper Sandler. Craig Johnson, the firm’s chief market technician, pointed out that the S & P 500 closed Tuesday’s session in oversold territory. Specifically, its relative strength index reading fell to 28.3. A reading below 30 indicates an asset is oversold and may be due for a recovery. “We expect a relief rally of 3% to 5% soon (at minimum),” he said in a note to clients. The S & P 500 has been under pressure recently, as escalating tensions between the…
American clothing and accessories retailer American Eagle store seen in Hong Kong.Budrul Chukrut | Lightrocket | Getty ImagesAmerican Eagle warned investors on Wednesday that consumers are pulling back on spending and it’s seen a “slower start” to the year than it expected. “Entering 2025, the first quarter is off to a slower start than expected, reflecting less robust demand and colder weather,” CEO Jay Schottenstein said in a news release. “While we anticipate improvement as the Spring season gets underway, we are also taking proactive steps to strengthen the top-line, manage inventory and reduce expenses. As we navigate through an uncertain…
Lip-Bu Tan appointed chief executive officer of Intel CorporationCourtesy: IntelIntel said on Wednesday that it had appointed Lip-Bu Tan as its new CEO, as the chipmaker attempts to recover from a tumultuous four-year run under Pat Gelsinger.Tan was the CEO of Cadence Design Systems, which makes software used by all the major chip designers, including Intel. Tan was previously on Intel’s board but departed last year, citing other committments. He replaces interim co-CEOs David Zinsner and MJ Holthaus, who took over in December when former Intel CEO Patrick Gelsinger was ousted. The appointment closes a chaotic chapter in Intel’s history, as investors…
It’s time for the three-quarter-mark edition of the NBA Rookie Rankings.The good news is that a few rookies are at least improving as the season rolls along. The bad news is that this continues to be arguably the least productive rookie class of the last 20 years. Only five rookies are averaging double-figures in points, and one of those players, the Philadelphia 76ers’ Jared McCain, will play under 600 minutes this year because of a knee injury. For reference, last year there were eight double-figure scorers. The year before, there were nine. In 2022, we actually had 12! In 2021,…
The arrest warrant was delivered to President Ferdinand R. Marcos Jr. of the Philippines in Manila at 3 a.m. Monday. The person named on it: his predecessor, Rodrigo Duterte, the firebrand whose war on drugs left thousands of people dead.But acting on the warrant from the International Criminal Court was not straightforward, since the Philippines is not a member of the court. So at 6:30 a.m., Mr. Marcos’s government received another warrant for Mr. Duterte, this time from Interpol, which was acting on the court’s behalf and of which the Philippines is a member.Mr. Marcos recalled his next step in…
Even as shares of retail trading platform Robinhood have pulled back more than 11% so far this week, investors should still be cautious about jumping back in, according to Payne Capital Management senior wealth advisor Courtney Garcia. Robinhood stock was higher on Wednesday, climbing roughly 8%. It entered 2025 on a high note after President Trump’s election win and a swell of enthusiasm tied to his pro-cryptocurrency position. The broader market regained some ground on Wednesday, with the Nasdaq Composite adding 1%, following three weeks of losses. But Garcia said much of the upside from the cryptocurrency story for Robinhood…
JPMorgan forecasts an even greater fall for Tesla shares amid rising boycotts and protests of the brand around the world. Analyst Ryan Brinkman cut his price target on the stock to $120 from $135, which implies shares plunging around 48% from Tuesday’s close. The outlook for deliveries and pricing looks difficult for the electric vehicle maker, Brinkman said, as CEO Elon Musk’s controversial political activities have sparked a wave of criticism . This comes on top of a slow start to 2025, per the analyst. Brinkman now sees Tesla’s first-quarter sales coming in at about 355,000, down from an earlier…
Roomba vacuums by iRobot are displayed at Best Buy store on January 19, 2024 in San Rafael, California. Justin Sullivan | Getty ImagesShares of iRobot plunged more than 30% on Wednesday after it said there’s “substantial doubt” about its ability to stay in business.The Roomba-maker’s financial outlook has darkened since Amazon abandoned its planned $1.7 billion acquisition of the company in January 2024, citing regulatory scrutiny. Since then, iRobot has struggled to generate cash and pay off debts.Massachusetts-based iRobot has been restructuring since the Amazon deal plunged into uncertainty. The company has laid off 51% of its workforce since the end…
Manchester City are having a bad season, there is no doubt about that. But there is a difference of opinion when it comes to deciding why this is the case.Your more casual observer might put it down to Rodri’s absence with a long-term knee injury, and of course there is a lot of truth in that.Perhaps you are pitching it somewhere in the middle, nodding sagely about several factors. Yes, Rodri’s injury was the first domino to fall but it exposed an “old” midfield — in Pep Guardiola’s words — and a defence completely blighted by injuries.But there is another…
