Category: Latest News
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DraftKings Shares Slide as Illinois Introduces Tiered Sports Betting Fee
DraftKings (NASDAQ:DKNG) saw its stock tumble by 5% on Monday, while Flutter Entertainment (NYSE:FLUT), the parent company of FanDuel, fell 3.3% after Illinois passed a new tax structure that could significantly increase costs for major online sportsbook operators. The changes came as a surprise over the weekend with the passage of the state’s fiscal year…
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Lyra Therapeutics Shares Skyrocket on Strong Phase 3 Results for CRS Treatment
Lyra Therapeutics (NASDAQ:LYRA) saw its stock soar by 180% after releasing encouraging Phase 3 results for its lead investigational product, LYR-210, a bioabsorbable nasal implant intended to treat chronic rhinosinusitis (CRS). The company’s pivotal ENLIGHTEN 2 trial met its main goal, showing statistically significant symptom relief in patients. The study confirmed that LYR-210 provided meaningful…
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Morgan Stanley: Nvidia Remains a Standout in Semiconductors
Morgan Stanley has reaffirmed its Overweight rating on Nvidia (NASDAQ:NVDA), describing the company as a rare and compelling investment in the semiconductor industry. Despite sector-wide concerns and looming headwinds, the firm continues to rank Nvidia as its top pick. “This still appears to us as an exceptional investment scenario,” analysts at Morgan Stanley noted in…
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BioNTech and Bristol Myers Squibb Launch $11.1 Billion Partnership to Advance Cancer Immunotherapy
BioNTech SE (NASDAQ:BNTX) and Bristol Myers Squibb (NYSE:BMY) have unveiled a sweeping global alliance to jointly develop and commercialize BioNTech’s bispecific antibody candidate, BNT327. Designed to treat a range of solid tumors, BNT327 targets two key proteins – PD-L1 and VEGF-A – known to play pivotal roles in cancer growth and immune evasion. This collaboration,…
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Dow Jones, S&P, Nasdaq, Rising Trade Tensions May Weigh On Wall Street
The major U.S. index futures on the Dow Jones, S&P and Nasdaq are currently pointing to a lower open on Monday, with stocks likely to move to the downside after ending last Friday’s volatile session little changed. Renewed trade concerns are likely to weigh on the markets amid further signs of rising tensions between the…
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RBC Predicts S&P 500 May Dip Below Current Levels by End of 2025
In a recent client note, RBC Capital updated its year-end 2025 target for the S&P 500 to 5,730, a modest increase from their previous projection of 5,550. However, the firm cautions that despite this higher target, the index is still likely to experience a decline from current levels before the year closes. RBC analysts described…
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Tesla Executives Surprised by Musk’s Public Denial of Affordable EV Cancellation – Reuters
Last year, several high-ranking Tesla Inc (NASDAQ:TSLA) executives were taken aback when Elon Musk publicly denied a Reuters report that claimed the company had scrapped its plan to develop a $25,000 electric vehicle, sources told Reuters. Shortly after Reuters published the report on April 5, 2024, Musk took to X (formerly Twitter) to call the…
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Moderna Shares Climb After FDA Approval of Next-Gen COVID-19 Vaccine
Moderna (NASDAQ:MRNA) saw its stock rise nearly 5% in premarket trading on Monday following the U.S. Food and Drug Administration’s approval of its next-generation COVID-19 vaccine, mNEXSPIKE. The vaccine is authorized for use in adults aged 65 and older, as well as individuals aged 12 to 64 who have at least one underlying condition that…
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Tesla and ‘Magnificent Seven’ Stocks Slip in Premarket on Rising Trade Concerns
In early Monday trading, Tesla (NASDAQ:TSLA) and six other major tech stocks, collectively known as the ‘Magnificent Seven,’ saw modest declines amid growing worries over global trade tensions and geopolitical instability. The group includes Tesla, Alphabet (NASDAQ:GOOGL), Nvidia (NASDAQ:NVDA), Meta (NASDAQ:META), Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), and Microsoft (NASDAQ:MSFT). Tesla shares dropped 2.1%, while Alphabet bucked…
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Chip Stocks Drop as U.S. Moves to Tighten Technology Controls on China
On Monday, semiconductor stocks declined amid news that the U.S. administration under President Trump is set to strengthen restrictions on China’s tech industry by broadening existing regulations to cover subsidiaries of companies already under sanctions. A report from Bloomberg on Friday detailed a proposed rule requiring U.S. government approval for any transactions involving companies majority-owned…