U.S.-listed shares of Novo Nordisk plunged 7% in intraday trading Thursday after rival Eli Lilly reported positive oral weight-loss drug news and BMO cut its rating for the Danish drug developer's stock.
The major U.S. equities indexes were mixed at midday Thursday, with the Dow Jones Industrial Average down close to 400 points as UnitedHealth Group shares plunged.
Traders saw the all-clear on Thursday from the European Central Bank to bet on even steeper interest rate cuts ahead, confident the central bank will ease policy further if trade tensions dent a fragile economy. The ECB cut rates by 25 basis points (bps) for a seventh time this cycle to 2.25%, to bolster an already struggling euro zone economy facing a large hit from U.S. tariffs that have whipsawed markets since President Donald Trump's April 2 reciprocal tariffs. The euro weakened and government bond yields across the bloc fell sharply as traders reacted to the dovish ECB message.
UnitedHealth stock was under pressure early Thursday after the company slashed its profit outlook following results its CEO called "unusual and unacceptable."
It's been difficult to draw buyers back into the housing market, with a pronounced mismatch between buyers and sellers.
Nvidia stock continued its slide on Thursday bringing market cap losses since it disclosed new export controls to more than $250 billion.
Chagee sold 14.7 million ADS at the top of its marketed range of $26 to $28 per share to raise $411 million, in the biggest listing for a Chinese consumer company since vaping firm RLX Technology's $1.4 billion IPO in January 2021, according to Dealogic data. The market reaction signals sustained investor appetite for Chinese IPOs on U.S. exchanges at a time when two of the world's biggest economies are engaged in a full-on trade war.
Shares of steel wire manufacturer Insteel (NYSE:IIIN) jumped 11.9% in the morning session after the company reported impressive first-quarter 2025 (fiscal Q2) results, which significantly blew past analysts' sales, EPS and EBITDA estimates.
Shares of water control and measure company Badger Meter (NYSE:BMI) jumped 7% in the morning session after the company reported impressive first quarter 2025 results which exceeded analysts' revenue and EPS estimates. Sales rose 13% year-on-year, fueled primarily by a 16% gain in utility water sales. Margins also expanded meaningfully due to a more favorable product and customer mix. While the company did not issue formal guidance, management acknowledged that the second quarter would face tough
Shares of workforce solutions provider ManpowerGroup (NYSE:MAN) fell 15.9% in the morning session after the company reported underwhelming first quarter 2025 results: Its EBITDA and EPS missed Wall Street's expectations.