(Reuters) -The U.S. Food and Drug Administration granted expanded approval to Emergent BioSolutions’ smallpox vaccine for use by people at high risk of mpox infection, sending the drugmaker’s shares surging 20% before the bell on Friday. The FDA clearance, announced late Thursday by the company, makes the vaccine, called ACAM2000, the second approved shot against…
By Johann M Cherian and Noel Randewich (Reuters) -U.S. stocks fell on Wednesday ahead of a quarterly report from Nvidia, Wall Street’s centerpiece event of the week that could shatter or add fresh fuel to a rally driven by optimism around artificial intelligence. Shares of the dominant seller of AI processors, due to report after…
By Patrick Wingrove (Reuters) -Eli Lilly said it has begun selling vials of the smallest, starter dose of its popular weight-loss drug Zepbound in the United States for $399 for a month on its direct-to-consumer website to try to increase supplies in the marketplace. Zepbound is typically sold in auto-injector pens, but with vials Lilly…
By Max A. Cherney SAN FRANCISCO (Reuters) – The sudden resignation of a high-profile Intel board member came after differences with CEO Pat Gelsinger and other directors over what the director considered the U.S. company’s bloated workforce, risk-averse culture and lagging artificial intelligence strategy, according to three sources familiar with the matter. Lip-Bu Tan, a…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Traders in the U.S. equity options market are expecting Nvidia’s upcoming earnings report to spark a more than $300 billion swing in the shares of the world’s most dominant artificial intelligence chipmaker. Options pricing shows that traders anticipate a move of around 9.8% in the company’s shares…
By Svea Herbst-Bayliss NEW YORK (Reuters) -Elliott Investment Management, which now holds voting power over roughly 9.7% of Southwest Airlines, is telling investors the company needs new outside leadership for a “better future,” but it is also ready to press ahead with a planned proxy fight. In a letter to shareholders, the hedge fund is…
By Ann Saphir (Reuters) – San Francisco Federal Reserve President Mary Daly on Monday said “the time is upon us” to cut interest rates, likely starting with a quarter-percentage point reduction in borrowing costs. Asked if there is anything that could derail a rate cut at the U.S. central bank’s Sept. 17-18 policy meeting,…
By Stephen Culp NEW YORK (Reuters) -U.S. stocks rallied on Friday as dovish remarks from U.S. Federal Reserve Chair Jerome Powell solidified expectations that the central bank will cut its key policy rate in September. In highly anticipated comments before the Jackson Hole Economic Symposium, Powell said “the time has come” to lower the Fed…
By Leika Kihara JACKSON HOLE, Wyoming (Reuters) – The U.S. Federal Reserve’s dovish shift will likely give the Bank of Japan some respite in its battle to tame a weak yen, but could complicate its efforts to raise interest rates if the two central banks’ diverging policy paths keep markets jittery. At an annual symposium…
By Dietrich Knauth and Mike Spector NEW YORK (Reuters) – Johnson & Johnson said on Friday it is negotiating with plaintiffs’ lawyers who have opposed the company’s proposed settlement of lawsuits alleging its baby powder and other talc products caused cancer, seeking to eliminate holdouts to the deal. J&J has announced plans to finalize a…
