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CANNES, France — Musician, futurist, and well-connected investor will.i.am suggested the talk about generative AI crushing jobs may be on the overdone side.In his eyes, working closely with the new tech may prove to be job enhancing over time."If you are a creator and you see this tool, then it's a job creator," the entrepreneur told Yahoo Finance Live at the Cannes Lions Festival of Creativity on Monday. "If you are tied to yesterday and just comfortable with mediocrity, then it's a job [destroyer]."The debate on how AI will shape the jobs of the future and the economy remains a hot topic in markets and economists' circles.Yahoo Finance's Brian Sozzi and Brad Smith speak with investor and musician will.i.am on all things AI at the Cannes Lions Festival of Creativity.A positive spin on the impact comes out of a new McKinsey study last week. The study identified 63 generative AI use cases spanning 16 business functions that could unleash between $2.6 trillion and $4.4 trillion in economic benefits annually.However, dark cloud takes aren't hard to find either.OpenAI's chief operating officer Brad Lightcap told a crowd at a WSJ Cannes event on Monday that AI could be a job eliminator."Every large company has an army of people that read and review contracts for revenue recognition purposes, for example," Lightcap said at the gathering. "You may not have that job. That may not be a job of the future."Goldman Sachs recently estimated that generative AI could expose the equivalent of 300 million jobs globally to automation over the next decade. That's a nice way of saying a person may lose their job to a robot."What I love about it [generative AI] is that everyone now has the ability to create, because now you have a partner to be able to push it," will.i.am added. "It's not just for songs. It's not just for poetry. It's not just for writing emails. It's not just for marketing strategies. Use it to solve problems, and then by that problem that you solve, it will create jobs."Story continuesWill.i.am speaks about how AI will affect creators in Cannes, France. (Yahoo Finance)Will.i.am's FYI, IBM team up on AIBorn William Adams in Los Angeles in 1975, the naturally curious will.i.am didn't exactly run in tech circles. But today, will.i.am is using his investing acumen, brand, and access to top tech leaders such as Salesforce CEO Marc Benioff to invest in new AI ventures.He rose to fame in the late 1990s and early 2000s as a member of the Black Eyed Peas, a band that has sold more than 58 million singles worldwide. The group is still putting out music, minus longtime front-person Fergie, who has retired to spend more time with her family.Will.i.am was an early investor in headphone maker Beats, netting him an undisclosed amount when Apple (AAPL) purchased the company for $3 billion in 2014, and he also struck a partnership deal with Intel (INTC) to promote various hardware.His latest venture is a generative AI messaging and video creation app called FYI. At Cannes, will.i.am revealed a new tie-up with IBM that will weave Watsonx AI technology into the FYI platform.The musician-turned-businessman thinks global businesses are on the cusp of radical transformation in the next decade at the hands of AI."There's still a lot of folks that don't understand how it's going to transform everything," the investor added.Brian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Tips on the banking crisis? Email brian.sozzi@yahoofinance.comClick here for the latest stock market news and in-depth analysis, including events that move stocksRead the latest financial and business news from Yahoo Finance

Yahoo Finance

Investor and musician will.i.am: Generative AI is 'a job creator' and will help avoid mediocrity

https://finance.yahoo.com/news/investor-and-musician-william-generative-ai-is-a-job-creator-and-will-help-avoid-mediocrity-194103306.html

53372239-fb35-4ab1-aaeb-f71fda2fbd09

AAPL

(Getty Images)Apple will start letting developers make apps for its upcoming ‘Vision Pro’ headset.The company has released its software development kit, or SDK, for VisionOS, the operating system that will run on the hardware.Apple announced its new headset at its Worldwide Developers Conference, earlier this month. It said then that the hardware would be available “early next year”, but that developers would be able to start creating experiences for it before then.Now it has released the first part of that work, in the form of that SDK. It gives developers the tools they need to start creating what Apple calls “spatial experiences” for the headset.Apple hopes developers will be able to “utilise the powerful and unique capabilities of Vision Pro and visionOS to design brand-new app experiences across a variety of categories including productivity, design, gaming, and more”.Next month, Apple will start holding labs in a range of cities – Cupertino, London, Munich, Shanghai, Singapore, and Tokyo – where developers will be able to submit their apps and actually test them on Vision Pro hardware. Apple engineers will also be on hand to ensure that the apps work on the new platform, Apple said.Development teams will also be able to apply for developer kits that will allow them to test their apps in their own facilities. Apple gave no information on what sort of form those kits would take – how similar they will be to the hardware that will eventually be released, for instance, and what restrictions they will have – or which and how many developers would get through that application process.Apple’s Vision Pro software is built on the foundational technology from other Apple platforms such as iOS and MacOS, and developers are able to use the same tools and frameworks to build apps for the new hardware. But as a “spatial computer”, the Vision Pro also requires entirely new ways of using apps, and so developers will likely need to test their apps on the platform to ensure they actually work as apps within the headset.Story continues“Apple Vision Pro redefines what’s possible on a computing platform. Developers can get started building visionOS apps using the powerful frameworks they already know, and take their development even further with new innovative tools and technologies like Reality Composer Pro, to design all-new experiences for their users,” said Susan Prescott, Apple’s vice president of worldwide developer relations.“By taking advantage of the space around the user, spatial computing unlocks new opportunities for our developers, and enables them to imagine new ways to help their users connect, be productive, and enjoy new types of entertainment. We can’t wait to see what our developer community dreams up.”Apple released the SDK, as well as new versions of its development tools, on its developer website. It is also publishing a range of tools aimed at developers, including new guidelines for how those Vision Pro apps should actually look and work.

The Independent

Vision Pro: Apple starts letting developers make apps for its upcoming headset

https://finance.yahoo.com/news/vision-pro-apple-starts-letting-212541221.html

f80c6b5f-8652-33a7-9801-6d8a63b9cca2

AAPL

Apple (AAPL), on Wednesday, announced that it’s making the tools necessary to build apps for its Vision Pro headset available to developers around the world. The visionOS software developer kit (SDK) is the basic software that developers will need to create new apps for Apple’s headset, er, spatial computer.Apple says the developers will also be able to use its various other technology frameworks, including Xcode, SwiftUI, RealityKit, ARKit, and TestFlight when developing apps for the Vision Pro.Developers will also get access to a new tool called Reality Composer Pro to preview 3D objects that they’re building for their apps.“Developers can get started building visionOS apps using the powerful frameworks they already know, and take their development even further with new innovative tools and technologies like Reality Composer Pro, to design all-new experiences for their users,” Susan Prescott, Apple’s vice president of Worldwide Developer Relations, said in a statement.Apple debuted the $3,499 Vision Pro during its Worldwide Developers Conference on June 5. The headset features a high-resolution display and a unique external screen that shows people around you a kind of virtual version of your eyes to let them know you can see them and reduce the isolating feeling of wearing a headset.Apple is releasing the development tools to get developers building apps for its Vision Pro headset. (Image: Howley)I tried the Vision Pro at Apple’s event and was blown away by not only its visual fidelity but also its ease of use. You control the Vision Pro by looking around the screen, thanks to its eye-tracking technology, and tapping your fingers together to select the object you’re staring at.Unlike traditional virtual reality headsets, the Vision Pro offers passthrough technology that uses its external cameras to let you see the real world around you.While the Vision Pro is an impressive piece of equipment, the apps developers build for the platform will be the deciding factor as to whether it’s a success or not. And it’s unlikely that many consumers will be willing to fork over the $3,499 to buy the headset right out of the gate, though, I’m sure diehard Apple fans will line up to grab theirs.Story continuesSign up for the Yahoo Finance newsletter.According to IDC, Meta (META) controls a whopping 80% of the global headset market. And with the company preparing to release its own $499 Meta Quest 3 in the fall, the company could further expand its lead in the space.Meta CEO Mark Zuckerberg, meanwhile, doesn’t seem too phased about Apple’s headset. In a virtual meeting with employees, the chief executive brushed off Apple’s offering, saying it doesn’t offer a vision of the future that he wants to participate in, according to The Verge.We’ll see how Apple’s Vision Pro and Meta’s Quest 3 match up early next year when Apple’s headset goes on sale.Daniel Howley is the tech editor at Yahoo Finance. He's been covering the tech industry since 2011. You can follow him on Twitter @DanielHowley.Click here for the latest technology business news, reviews, and useful articles on tech and gadgetsRead the latest financial and business news from Yahoo Finance

Yahoo Finance

Apple’s Vision Pro software is now available for developers, as launch inches closer

https://finance.yahoo.com/news/apples-vision-pro-software-is-now-available-for-developers-as-launch-inches-closer-214110535.html

3251ad4d-7e81-4717-9799-cd9ceac68bce

AAPL

The Zacks Computer – Mini Computers industry is suffering from the waning demand for consumer PCs, massive supply-chain issues and geopolitical challenges, including raging inflation and high interests. Nevertheless, strong demand for high-end enterprise laptops is benefiting Apple AAPL and HP HPQ. The improving availability of 5G-enabled smartphones has been a key catalyst for industry participants. The growing adoption of tablets among enterprises bodes well for companies like Apple and Lenovo. The launch of foldable, and AI and ML-infused smartphones, tablets, wearables and hearables is another major growth driver for industry participants. Robust demand for production printers, materials and software bodes well for 3-D printing solution providers.Industry DescriptionThe Zacks Computer – Mini Computers industry comprises companies that offer smartphones, desktops, laptops, printers, wearables and 3-D printers. Such devices are based either on iOS, MacOS, iPadOS, WatchOS, Microsoft Windows, or Google Chrome and Android operating systems. The companies predominantly use processors from Apple, Intel, AMD, Qualcomm, NVIDIA and Samsung. Expanding screen size, better display and enhanced storage capabilities have been the key catalysts driving the rapid proliferation of smartphones. This has been well-supported by faster mobile processors. Laptops, both consumer and commercial, benefit from faster processors, sleek designs and expanded storage facilities. The addition of healthcare features has been driving the demand for wearables.3 Mini Computer Industry Trends to WatchEnterprise Adoption Remains Healthy: Strong enterprise demand has been benefiting industry participants. The industry is benefiting from the rapid adoption of Bring Your Own Device (BYOD) in workplaces. Enterprises practicing BYOD allow employees to use their personal devices, including mobiles, laptops and tablets, for work purposes. Moreover, the growing adoption of a hybrid working environment bodes well for industry participants, as demand for laptops and tablets is expected to increase. Demand for smart devices that offer facial recognition, retina scans, or finger impression to verify the user for biometrics is gaining traction as enterprises enhance security.Impressive Form Factor Drives Demand: Expanding screen size, better display and enhanced storage capabilities have been the key catalysts driving the rapid proliferation of smartphones and tablets. This has been well-supported by faster mobile processors from the likes of Qualcomm, NVIDIA, Apple and Samsung. Improved Internet penetration and speed, along with the evolution of mobile apps, have made smartphones indispensable for consumers. Improved graphics quality is making smartphones suitable for playing sophisticated games. This is driving demand for high-end smartphones and opening up significant opportunities for device makers.PCs Face Extinction Risk: Personal computers (desktops and laptops), be it Windows or Apple’s MacOS-based ones, have been facing the risk of extinction due to the rapid proliferation of smartphones and tablets. Stiff competition from smartphones has compelled global PC makers to not only upgrade hardware frequently but also add apps and cloud-based services to attract consumers. Nevertheless, the emergence of 5G, AI, machine learning and foldable computers is likely to be the key catalyst in expanding the total addressable market of PCs.Story continuesZacks Industry Rank Indicates Dim ProspectsThe Zacks Computer – Mini Computers industry is housed within the broader Zacks Computer and Technology sector. It carries a Zacks Industry Rank #194, which places it in the bottom 23% of more than 250 Zacks industries.The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates dim near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.The industry’s position in the bottom 50% of the Zacks-ranked industries is a result of a negative earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are pessimistic about this group’s earnings growth potential. Since Jun 30, 2022, the Zacks Consensus Estimate for this industry’s 2023 earnings has moved down 9%.Despite the gloomy outlook, there are a couple of stocks worth watching in the sector. But before we present those stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.Industry Outperforms Sector, S&P 500The Zacks Computer – Mini Computers industry has outperformed the broader Zacks Computer and Technology sector, and the S&P 500 index over the past year.The industry has surged 33.2% over this period compared with the S&P 500’s return of 15.6% and the broader sector’s gain of 23.8%.One-Year Price PerformanceIndustry's Current Valuation On the basis of forward 12-month P/E, which is a commonly used multiple for valuing computer stocks, we see that the industry is currently trading at 27.92X compared with the S&P 500’s 19.44X and the sector’s 25.33X.Over the last five years, the industry has traded as high as 32.32X and as low as 11.49X, with the median being 22.80X, as the chart below shows.Forward 12-Month Price-to-Earnings (P/E) Ratio 2 Computer Stocks to Watch Right NowApple: This Zacks Rank #3 (Hold) company is benefiting from steady demand for iPhone 14 and 14 Plus, as well as expanding footprint in emerging markets. A growing subscriber base and improving customer engagement are tailwinds for the Services business. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Apple currently has more than 975 million paid subscribers across its Services portfolio. The App Store continues to draw the attention of prominent developers worldwide, helping it offer appealing new apps that drive the App Store’s traffic. A growing number of AI-infused apps will attract subscribers to the App Store.The Zacks Consensus Estimate for fiscal 2023 earnings has been steady at $5.99 per share over the past 30 days. The stock has gained 41.6% in the year-to-date period.Price and Consensus: AAPL HP: This Zacks Rank #3 company’s sustained focus on launching the latest and innovative products is likely to help it stay afloat in the current uncertain macroeconomic environment.Product innovation and differentiations are the key drivers that have helped HPQ maintain its leading position in the PC and printer markets.The Zacks Consensus Estimate for fiscal 2023 earnings has increased 1.2% to $3.35 per share over the past 30 days. Shares of HP have gained 11.1% year to date.Price and Consensus: HPQWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportApple Inc. (AAPL) : Free Stock Analysis ReportHP Inc. (HPQ) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

2 Stocks to Watch From the Challenging Computer Industry

https://finance.yahoo.com/news/2-stocks-watch-challenging-computer-152400555.html

95e68227-52a7-3213-9fa3-ac024e93c504

AAPL

ReutersIntel's Manufacturing Overhaul: Aims for Second Largest Foundry Spot with Projected Revenue Over $20BIntel Corp (NASDAQ: INTC) has had an eventful week so far, enlightening investors with significant turnaround updates.On Wednesday, the company voiced plans to restructure its manufacturing business, likely to work like a separate unit and begin to generate a margin.The chipmaker neither disclosed any timeline for the restructuring nor named a new external customer for the business as part of its foundry services.Airbus Eyes Controlling A220 Jet Costs Amid Pricing Pressure From SuppliersAirbus SE (OTC: EADSY) reportedly plans to control the costs of its loss-making A220 jet while supporting its supply chain.The company is trying to reduce the production costs of its smallest jet but is grappling with pricing pressure from suppliers in the broader industry.The latest news follows Boeing Co (NYSE: BA) CEO Dave Calhoun's recent statement at the Bernstein conference, where he reportedly said that the company's progress on resolving supply chain problems has been "frustratingly slow."European Drug Authority Raises Thyroid Cancer Safety Signal For Novo Nordisk Drugs, Including Hyped SemaglutideThe EU's drugs watchdog, the European Medicines Agency, recently raised a thyroid cancer safety signal for Novo Nordisk A/S (NYSE: NVO) drugs, including the much talked semaglutide used in Ozempic and Wegovy for weight loss.The safety signal indicates the EMA's monitoring of potential adverse events related to approved drugs but does not establish causation between the medicine and reported adverse events. BenzingaSpirit AeroSystems To Stop Work At Kansas Plant As Workers Vote To StrikeIn response to the strike decision by Spirit AeroSystems employees represented by the International Association of Machinists and Aerospace (IAM) Workers, factory production will be suspended before the contract expires.Spirit AeroSystems Inc is a subsidiary of Spirit AeroSystems Holdings Inc (NYSE: SPR).The plant produces 70% of Boeing Co's (NYSE: BA) narrow-body aircraft and defense and business jet structures.Story continuesAccenture Shares Fall After Reporting Underwhelming Q3 EarningsAccenture Plc (NYSE: ACN) shares are trading lower Thursday after it reported third-quarter results.The company reported third-quarter FY23 revenue growth of 3% year-over-year to $16.57 billion, marginally beating the consensus of $16.56 billion.New bookings increased by 2% Y/Y to $17.2 billion. Consulting revenues decreased by 4% Y/Y to $8.69 billion, and Managed Services revenues increased by 10% Y/Y to $7.87 billion.Adjusted EPS of $3.19 beat the consensus of $3.04. Adjusted operating margin was 16.3%, an expansion of 20 bps. The gross margin expanded by 50 bps to 33.4%.Lordstown Motors Founder Relinquishes His Remaining Stake Lordstown Motors Corp (NASDAQ: RIDE) shares are trading higher after founder Steve Burns relinquished his remaining stake in the company.The former CEO offloaded 581,000 shares on May 23 for an average price of 27 cents apiece, just before the startup executed a reverse stock split.He sold another 200,000 shares for $3.74 each on May 24 and his remaining 591,752 shares for $4.99 on June 16.Burns, who resigned as CEO in 2021 after the board found proof of inaccurate preorder statements, has sold about $66 million of stock through mid-June.RSV Vaccines from Pfizer and GSK Gain CDC Advisory Committee's Favor for Older AdultsThe US Centers for Disease Control and Prevention's (CDC) Advisory Committee on Immunization Practices voted in favor of recommending the use of RSV vaccines from Pfizer Inc (NYSE: PFE) and GSK plc (NYSE: GSK) for older adults.The panel didn't go so far as to recommend it for everyone in the age group, citing that patients should first talk to their doctor, partly because the studies didn't enroll many people at the highest risk for severe disease. Wall Street Journal Activist Investor Pressures NRG Energy To Change CEONRG Energy Inc (NYSE: NRG) is facing pressure from the activist investor Elliott Investment Management for expelling its Chief Executive Officer (CEO), Mauricio Gutierrez.Elliott is reportedly talking to potential candidates for replacing NRG CEO and other top executives.Last month, Elliott acquired a 13% economic interest (around $1 billion) in the company and stated its motive to restructure the board and initiate cost-saving measures and a strategic review of Vivint, the home services unit of the company. SCMPAlibaba's Post-Reshuffle Strategy - Emphasizing the Role of Small Businesses Amid Economic SlowdownA day after its major management overhaul, Alibaba Group Holding Limited (NYSE: BABA) President Chen Long emphasized the growing importance of small businesses and merchants.He advocated a strategic business pivot formed by its founder Jack Ma.Long reminded Alibaba's continued focus on small business as the backbone of its platform amid China's consumption slowdown on the sidelines of the Luohan Academy digital economy conference. BloombergFollowing Roomba Acquisition, Amazon Eyes London's Ocado for Next Major Tech InvestmentAmazon.Com Inc (NASDAQ: AMZN) and several other techs "heavyweights" weighed a bid worth 800p per share for Ocado Group PLC (OTC: OCDDY) (OTC: OCDGF).Ocado builds robots and software that help deliver groceries online."A deeper consideration of the strategic logic and the actual likelihood of an official takeover approach will have to wait for more details," Bloomberg cites Jefferies analyst Giles Thorne.Jefferies has had a hold recommendation on Ocado since at least December 2021.JPMorgan Chase Appoints Teresa Heitsenrether to Lead New AI-Driven Data and Analytics UnitJP Morgan Chase & Co (NYSE: JPM) anointed Teresa Heitsenrether as head of a new data and analytics unit under its critical artificial intelligence push.The appointment is effective immediately, Bloomberg cites an internal memo Wednesday from CEO Jamie Dimon and President Daniel Pinto.Heitsenrether, who has been at JPMorgan for over 30 years, will continue to report to Pinto. Washinton PostApple Patches Security Glitches in iPhones and iPads: Protection Against Russian Hacking AttacksOn Wednesday, Apple Inc (NASDAQ: AAPL) said it had fixed two new security faults in its iPhones and iPads that helped compromise thousands of devices in Russia.Apple credited researchers from Russian security software maker Kaspersky Lab for discovering the glitches.Apple said the fixes would protect iPhones running iOS 15.7 or earlier versions, which became outdated in September. More recent operating system versions had other improvements that made them impervious to the attacks. TechCrunchSwipe Right for Friendship! Bumble Tests Standalone App for Pal-SeekersDating app Bumble Inc (NASDAQ: BMBL) said it is testing a separate BFF app in select markets aimed at people "looking for friend finding without being on a dating app."It plans to release this app in the U.S. in 2023.Separate reports suggested Bumble trialing a new app in select geographies.The free app has premium subscriptions for a week, three months, six months, and a lifetime.Photo via Wikimedia CommonsDon't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.This article Intel Voices Plans To Restructure Manufacturing Business, Bumble's BFF App, Spirit AeroSystems To Stop Work At Kansas Plant Amid Workers Strike: Today's Top Stories originally appeared on Benzinga.com.© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Benzinga

Intel Voices Plans To Restructure Manufacturing Business, Bumble's BFF App, Spirit AeroSystems To Stop Work At Kansas Plant Amid Workers Strike: Today's Top Stories

https://finance.yahoo.com/news/intel-voices-plans-restructure-manufacturing-153016692.html

07dace78-177e-3ea1-bcec-93fc5094b824

AAPL

One of the big themes at the Cannes Lions International Festival is the role of artificial intelligence in advertising and marketing. In an interview with Yahoo Finance Executive Editor Brian Sozzi, advertising veteran Sir Martin Sorrell, Founder and Executive Chairman of S4 Capital, breaks down the ways he thinks AI will impact the ad industry.Video Transcript[MUSIC PLAYING]- You'll never know who you find at Cannes Lions. So I'm having a power lunch right now. A power lunch with Sir Martin Sorrell, S4 Capital Partners founder. Not many people get to have a power lunch with you, Sir Martin. So thank you for joining us. We appreciate it.SIR MARTIN SORRELL: We haven't had much of a lunch.- We had lunch. We had some coffee, we have some water and nuts.SIR MARTIN SORRELL: I've had water and that's it.- All right, we'll get it after. We'll get it after this interview. So talk to us. You're a veteran of the Cannes Lion events. What do you think of all the tech companies here?SIR MARTIN SORRELL: Well, it's become a tech conference. And what do I think? I mean, look, you've got the six big platforms, the three Western and the three Eastern. So you've got Alphabet, you've got Meta, you've got Amazon, you've got Alibaba, Tencent, and TikTok or ByteDance.Then you've got the smaller platforms like Twitter and Snap and Pinterest. And then, of course, you've got the Microsoft, Apple presence. Because that, with AI in particular, is going to become-- and the metaverse. I mean, you saw Apple's announcement around their new headwear.So I think those eight companies, plus NVIDIA, obviously supplying the picks and shovels. And then I would add Salesforce and Adobe. I think that's where-- and interestingly, because of the regulator trying to stop Microsoft on Activision, stopping Meta on GIFE, for no good reason.And the only reason could be that big is bad, right. There's no logical argument about cloud gaming or scale on GIFE. I mean, you could have solved that in a heartbeat. So with the regulator putting pressure on them, it means that those companies are going to become even more focused on organic growth. So their research budgets are huge.Story continues- Let's go back to Apple. Made a lot of headlines with these fancy-looking glasses. Is that an opportunity for the end industry? How does that change what this industry does? How does it change media?SIR MARTIN SORRELL: I would guess that companies like Apple are going to be coming out with-- rapidly-- with announcements in the AI space, just as we've seen from Alphabet and Microsoft. I mean, Alphabet have been working on this since 2014. I mean, they're the father or mother of this.So I would wrap it around three things, Blockchain, metaverse, and AI. And AI, or AGI, has already started to impact visualization and copywriting, that's one thing. Hyper-personalization at scale. So if we thought we could produce for Netflix, you know, 1.5 million creative assets, we're going to be able to do multiples of that.The third area is media planning and buying. Why rely on a 25-year-old media planner or buyer when you can rely on an algorithm without checking it? You wouldn't give your budget to Rupert Murdoch unsupervised. I've got nothing against Rupert or whether he would do anything wrong, but you want to have a validation. So we validate, we resell, if you like, and we watch and we monitor. So that's the third area.Use is a super tool for improving our own processes and client process. And then the thing, I think, which is the most important thing is knowledge sharing. So the guy who resigned from Google because he thought the bots would be an existential threat, I think, actually, it's also the reverse. You can turn human beings into human bots because you can transfer knowledge with them.And as long as the data that you ingest into the platform is right, and over time it gets better and better. And as long as you open it up to everybody in your organization. So all our 9,000 people will have access, God willing, to all this information.- What's your economic outlook? I'm assuming you met with a ton of people, you always have a good pulse on this stuff.SIR MARTIN SORRELL: It's tough. It's tough. I think '23, '24-- in the presentation I did on Monday, I finished it off with '23, '24 is going to be tough. I mean, the stuff in the last few days around interest rates, what Powell said, what the Bank of England have done in the UK, it looks like, well, GDP will be lower than before.Interest rates-- inflation will be higher. It's not going to go down to 2%. And interest rates will be higher for longer. So that has not bitten into the economy. I mean, it's quite interesting watching what's happening about mortgage rates in the UK.Consumers are now starting to complain bitterly as they refi their mortgages, or renew their mortgages, about the increased cost, and they've never really focused on it. So they didn't have variable rate mortgages, they had fixed and had to refi them. And that's starting to have a huge impact, I think, on consumer sentiment.So I would say, chances of a recession, Goldman, I think, have it at 25%. The GDP growth in the US around 1.7. There was a different place. It's much more fractious, fragmented place.- I've asked a lot of big CMOs, we've had a lot of CEOs on Yahoo this week, how they plan to advertise and approach and lead during what could be a very polarizing-- another election next year. What is your sense of this? How are companies going to advertise? Are they going to pull back, do you think, during next year?SIR MARTIN SORRELL: Well, the geographical fragmentation means you have to select your markets much more. So North and South America, the Middle East, and Asia. And I'm going to say, not ex-China, but if you've got a big position in China, you're not going to go more because of the tension around Taiwan.If you have a small position, you know, I think Unilever has 7% of its revenues in China, for example. And it should be around 20%, because China is $18 trillion out of $100 trillion GDP. And 2050, it will be the biggest. So that's one thing. Europe, the runes are not so good. And people are looking more from a cost base than cutting cost than revenue growth. So those will be the growth markets.So in Asia, it'll be India is the big gainer, Modi's in America, and they're playing both ends against the middle, but doing the right thing by India. And I think that's growth. Indonesia, Vietnam, Thailand, the Philippines, Malaysia, Singapore. So that's the sort of geographical.On the technology side, because it's lower growth, and therefore the focus will be on quarterly growth, like-for-like growth, and margin, that's going to mean that the digital transformation is going to be accelerated. So I think what clients will be doing is there'll be more activation and performance, more lower funnel-- what we call lower-funnel work, less strategic work, very focused on results, very focused on performance, ROI, measurement. And then geographically, they're going to be much more selective.And it used to be-- last 50 years, didn't matter where you went, if the demographics were with you, you did well. Now you're going to have to be much more selective. And so it's a very different world to the last 50 years.- We will leave it there, Sir Martin. You're always gracious with your time with Yahoo Finance. We'll let you get back to your-- what? Meeting. How many meetings have you had?SIR MARTIN SORRELL: Too many.- Too many. We'll leave it [INAUDIBLE].

Yahoo Finance Video

Marketing expert Martin Sorrell explains the top ways AI will impact advertising

https://finance.yahoo.com/video/marketing-expert-martin-sorrell-explains-173503895.html

e7b38036-7320-35a5-80a1-b3791651e50f

AAPL

Big tech CEOs come together at the White House to meet with President Biden and Indian Prime Minister Narendra Modi to discuss investments in India. Axios Global Technology Correspondent Ryan Heath joins Yahoo Finance Live to discuss the outlook for U.S.-India trade relations and geopolitical concerns, including competition with China.Video Transcript- Well, tech giants are betting big on India as tensions with China remain high, and they're taking advantage of Indian Prime Minister Narendra Modi's state visit this week following last night's state dinner. Some of those top names within the tech community spending their morning at the White House at a meeting with President Biden, as well as Prime Minister Modi. Apple's Tim Cook, Sam Altman from OpenAI, and CEO Lisa Hsu of AMD, CEO Microsoft Satya Nadella, and Alphabet CEO Sundar Pichai all among the guest list.Joining us now is Axios Global tech correspondent, Ryan Heath. And Ryan, so much of this conversation has been framed in the context of China, which certainly makes sense given that a lot of these tech companies are looking to diversify outside of China. But how big is the opportunity in India really?RYAN HEATH: It's massive. And it's been going on for a long time. This isn't just a safety net strategy for dealing with the tension in China. So companies like IBM have had between a third and half of their workforce based in India for the last decade now. And obviously, these roots go into very deep territory.When you think about the millions of Indian students that have studied at American universities, many of them return home. So you've got a lot of deep links, a lot of very sophisticated universities and systems that the Indian government already operates. So there's a lot of opportunity for Americans to tap into. There's a lot of talent that the American companies can use, either in India or they can import people over to the United States. And there really is a lot of opportunity here. And the situation in China means it's all the more important. But there's a very strong foundation to build on.Story continues- Ryan, excuse me. Julie here. Let's talk about the potential risks then of operating in India because accompanying Prime Minister Modi's visit here to the United States has also been discussion of the democratic record there, his human rights record, his record on freedom of journalists in the country. None of them are particularly stellar. And then you have Jack Dorsey, formerly of Twitter, of course, talking about some curbs on Twitter from the Indian government. So what are these companies really have to keep aware of?RYAN HEATH: Well, there's a whole suite of issues here. So let's start with some of the tech that the Indian government uses. It doesn't do it with the same guardrails that we would expect in the US or in particular, in the European Union. It's very attractive if you're a technologist to say, hey, I get to work with a billion biometric records. But if you don't have guardrails in place, that can really blow up in your face or in the face of the people whose records you're in charge of maintaining.Then you've got the democracy situation. So the Indian government did threaten to shut down Twitter. They do demand that accounts that are critical of them be removed or be censored. So you're going to have to tangle with the Indian government. And what sounds nice at a White House state dinner is a lot more uncomfortable when you have those regulators knocking on your door and telling you you might be kicked out of the country if you don't comply. So there's that level of difficulty there.Then you've got the situation where most workers in India just really aren't paid what workers in America are paid. That doesn't mean these are bad jobs. But you've got a lot of human rights watchdogs, a lot of people looking through the ESG reports of a given company. And they're going to want to know, are these sweatshops? What are the conditions of all of these workers who are manually labeling this data? The ones that are making AI seem really human, there's a bunch of humans being paid $2 an hour to do that work.So you're going to have to manage a lot of reputational issues if you dive in to India. At the same time, the rewards are pretty big if you can pull it off.- Ryan, what about the issue of tech transfers? I mean, this is the Indian government essentially saying, look, we'll welcome you, and we'll give you access into our massive market, but we want something in exchange.RYAN HEATH: Yeah. So this is a pretty standard Indian play. And it seems a bit more reasonable now when you look at these global subsidy races that we've been seeing around chips and around other key strategic, critical minerals and other exports in the technology sector. But for a long time, this was India being on the fringe, demanding things that weren't very realistic. And their attitude there is we've been exploited for centuries by Western powers. It's time to get something back.And what it meant is that India just didn't really sign a lot of free trade deals. They didn't enjoy the economic growth that a more open Chinese economy enjoyed. But now that the US needs India, and the Modi government knows it, they know that India is essential as a hedge against China, they can really push these demands. And they were able to sign deals on military jets and co-production between GE and Hindustan Aeronautics. They've done a drone deal. They're going to do more in terms of ship repairs outside the tech sector but still pretty strategically important. So the Indians are squeezing something out of the Biden administration here. So it's working for them.- How reliable partner do you think India is for the US? I mean, Julie sort of listed off some of the concerns around human rights. There's those who argue, look, India hasn't even condemned Russia for the attack of Ukraine. I mean, there's a lot of question marks where the US and India don't see eye to eye. And yet, if you look at the state visit, the public statements that have come out so far, you'd think they're really on the same page. Are they a reliable partner for the US?RYAN HEATH: Sometimes, you don't get to choose your partners. So I would say that they're not the most reliable partner, but they're the partner that the US has been able to get to the table. So it's absolutely the case that the reason why we haven't seen more weapons sales and other military equipment in the past is because India's relied on Russia for that. The US frankly hasn't fully trusted India with intelligence and with some of that technology.They were able to do a civilian nuclear deal under the Bush administration, and there were big hopes around that. And it didn't really work out as well as planned. So if you talk to people in the Bush administration or other defense insiders like I've been doing over the last week, they honestly don't fully trust India. At the same time, the only way to build trust is to do some of these deals and inch it forward.So I think when you look in the context of China and the need for as many allies and partners in the region as possible, we have to work with India. I was born in Australia. Australia has to work with India inside this quad framework as well. So it's a difficult relationship, but they've got to keep trying because the alternative is that you allow China to dominate. And that in most people's opinion is the worst outcome.- Axios Global tech correspondent, Ryan Heath. Appreciate you joining us today. Thanks so much.RYAN HEATH: Thank you.

Yahoo Finance Video

Indian government knows its essential to U.S. given China tensions: Reporter

https://finance.yahoo.com/video/indian-government-knows-essential-u-203035031.html

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AAPL

Tech stocks have rebounded so well from their down year in 2022 that there might not be a buying opportunity there anymore.At least that's what some Wall Street analysts are saying as they slap downgrades on some of 2023's best performers like Tesla (TSLA), Apple (AAPL)and Alphabet (GOOGL)."It's difficult to model upside to our current high-single-digit [websites] growth estimates," UBS analyst Lloyd Walmsley said in a note on Monday that downgraded Alphabet shares from Buy to Neutral.Walmsley joins a growing list of big tech analysts to caution about future upside in the 2023 rally. Two weeks ago, his colleague at UBS David Vogt downgraded Apple from Buy to Neutral, noting that "growth is likely to remain under pressure." Three analysts have now downgraded Tesla in less than a week.Importantly, the downgrades aren't saying that things look overly gloomy for some of the tech stalwarts. In fact, in some cases, analysts are still expecting the stocks to go up.The downgrades indicate the market is finally correctly pricing in the potential for future earnings, and therefore, the stocks might be priced just fine where they stand today."We believe the stock now better reflects our positive long-term view of the company’s growth potential and competitive positioning post the substantial move higher YTD," Goldman Sachs analyst Mark Delaney wrote in a note in Monday.Delaney downgraded Tesla from Buy to Neutral while boosting his price target from $185 to $248. Last week, Morgan Stanley analyst Adam Jonas made a similar move downgrading Tesla from Overweight to Equal Weight, while lifting his price target from $200 to $250."I have to be up-front with you all," Jonas wrote. "While the team has defended the Tesla OW rating all year, I did not see this 111% YTD rally coming (the S&P 500 is up 14% YTD, for context). We think it's understandable and are sympathetic to the changes in the market narrative around the name. We're not trying to call 'the end' to the Tesla rally and from our discussions continue to find a significant degree of investor skepticism/lack of exposure around the name."Story continuesOne risk for Tesla: Wall Street continues to debate whether the electric-vehicle maker is an artificial intelligence play.So, Jonas argues, if the AI momentum fades, the stock price may follow suit."While the market may want to dream on the AI theme, we'd prepare to wake up to the sound of a blaring car horn," Jonas wrote.This content is not available due to your privacy preferences.Update your settings here to see it.Broadly, macro strategists are sounding a similar warning call, too. Despite a slew of upgrades to the S&P 500 over the last few weeks, not many strategists see upside above 4,500 for the S&P 500. That reflects just over 3% upside for the benchmark index for the rest of the year.One of those strategists, Truist Co-Chief Investment Officer Keith Lerner, jacked up his S&P 500 year-end "range" to 3,800-4,500 from a range of 3,400-4,300 earlier in June."The technology sector is trading at rich valuations, and concentration at the top is a risk," Lerner wrote in a note to clients on Wednesday. "But this is not 2000, not even close, based on valuations and returns. Although tech is extended on a short-term basis and we would be more inclined to add on pullbacks as opposed to aggressively chasing at current levels, we still see the sector as longer-term leadership."Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of Twitter, gestures as he attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. REUTERS/Gonzalo FuentesJosh is a reporter for Yahoo Finance.Click here for the latest stock market news and in-depth analysis, including events that move stocksRead the latest financial and business news from Yahoo Finance

Yahoo Finance

The stock market's biggest winners are getting downgraded by Wall Street

https://finance.yahoo.com/news/the-stock-markets-biggest-winners-are-getting-downgraded-by-wall-street-160502699.html

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AAPL

In the war for virtual reality dominance, Apple struck a late, though powerful, blow to its competitors, namely Facebook parent , earlier in June. At its WWDC developer conference, Apple unveiled the Vision Pro, an augmented-reality headset coming to market at a staggering $3,499 next year.Continue reading

TheStreet.com

Mark Zuckerberg Unveils His Latest Grand Plan to Help Meta Grow

https://finance.yahoo.com/m/feeedb92-5ef2-31ab-91b6-5cadda3dee52/mark-zuckerberg-unveils-his.html

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AAPL

Apple stock hit a new high on Tuesday, but the stock isn’t immune to problems that could cause a selloff. Apple (ticker: AAPL) shares on Tuesday afternoon closed up 1.5%, ending at $188.06 each. Apple stock has been on a tear, jumping 45% so far this year.Continue reading

Barrons.com

Apple Hit a New High Today. Why It’s Still Risky.

https://finance.yahoo.com/m/3bc1fa5c-f061-3e4e-b79f-295aa7dff2e7/apple-hit-a-new-high-today-.html

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AAPL

Shares of Apple closed Tuesday at a record high, with the stock edging toward a $3 trillion market cap for the consumer-electronics giant. Apple stock finished today up 1.5% to $188.06. The shares would need to close at or above $190.734 to reach a $3 trillion market cap.Continue reading

The Wall Street Journal

Apple Stock Sets Another Record High

https://finance.yahoo.com/m/fd63bba0-e310-344d-aaab-6a908622c84d/apple-stock-sets-another.html

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AAPL

Since giving up its iMac name to Apple, Digi continues to drive IoT innovations and now looks to connect to a breakout.Continue reading

Investor's Business Daily

From iMac To IoT: Connecting A Smart New World — And Buy Point

https://finance.yahoo.com/m/cda96385-ee08-3517-bb9e-a281ddbb347c/from-imac-to-iot-connecting.html

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AAPL

Concerns over trade restrictions with China and comments from Federal Reserve Chair Jerome Powell helped send the Dow Jones Industrial Average lower by 0.2%, or 64 points, Wednesday.Continue reading

Investopedia

Dow Jones Today: Index Down on Chip Fight Fears

https://finance.yahoo.com/m/4453041e-5707-3a27-a431-8bc65e699af8/dow-jones-today-index-down.html

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AAPL

Apple is inching closer to closing with a market cap of over $3 trillion. When it gets there, it will become the first $3 trillion company. Yahoo Finance Markets Reporter Jared Blikre breaks down Apple's journey to $3 trillion.

Yahoo Finance Video

Apple's nears $3 trillion market cap: How it got there

https://finance.yahoo.com/video/apples-nears-3-trillion-market-211604765.html

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AAPL

The Dow Jones and Russell 2000 rallied Thursday while the Nasdaq held steady amid rising Fed rate hike odds. Nike earnings were mixed. Apple got a Street-high price target.Continue reading

Investor's Business Daily

Dow Jones Rallies As Fed Rate Hike Odds Rise With Inflation Report Due; Apple Nears $3 Trillion

https://finance.yahoo.com/m/0db45eb7-73b3-3264-931a-fa2b85cef76d/dow-jones-rallies-as-fed-rate.html

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AAPL

(Bloomberg) -- America’s biggest tech companies have become too large even for the stock index tracking America’s biggest tech companies.Most Read from BloombergPowell Haunted by Repo Crisis as Fed Aims to Cut Balance SheetMove Over Dubai. This Tiny Emirate Wants to Be the Next Haven for BillionairesPutin Met Wagner’s Prigozhin After Revolt That Shook RussiaTurkey Agrees to Back Sweden’s NATO Bid in Boost to AllianceJack Ma’s Clash With Beijing Costs Ant, Alibaba $850 BillionNow the benchmark’s overseer is taking action to pare back their influence.The seemingly unstoppable growth of megacaps like Apple Inc. and Microsoft Corp. mean they have breached an upper limit imposed on stocks in the Nasdaq 100. As a result, Nasdaq Inc. has announced a “special rebalance” — the first ever of its kind — will be carried out to redistribute the weight of the index’s members.The index provider says the July 24 adjustment will “address overconcentration in the index by redistributing the weights,” according to a statement from the firm on Friday, with more details due later this week.Nasdaq’s extraordinary action is a result of the relentless rally that has accounted for almost all the broader market’s gains in 2023. Fueled by optimism over artificial intelligence, the supercharged performance has sparked a heated debate on Wall Street about whether this top-heavy advance can last.It’s “a good thing as it reduces the concentration risk from those players,” said Todd Sohn, managing director of ETF and technical strategy at Strategas Securities. “On the other hand, it increases the burden for the rest of the index — what I like to call ‘the bench’ — to continue to improve and strengthen.”While details on the action are sparse, a paper on the Nasdaq website says special rebalancings can be called in certain circumstances when the portion represented by the index’s biggest members exceeds a preset threshold. In one scenario, the document says, weights can be pared back if the combined influence of the largest companies — those making up 4.5% or more of the gauge — adds up to more than 48%.Story continuesData compiled by Bloomberg show that was the case on July 3, when six companies — Microsoft, Apple, Alphabet Inc., Nvidia Corp., Amazon.com Inc., and Tesla Inc. — saw their combined weight reach 50.9%. The Nasdaq methodology paper says a rebalancing may be enacted to reduce the group’s influence to 40%.The rebalance is intended to help fund managers who are linked or benchmarked to the Nasdaq 100 to stay in compliance with a Securities and Exchange Commission diversification rule that limits the aggregate weight of the largest stock holdings, those with a 5% representation or greater, to 50%, according to Cameron Lilja, vice president and global head of index product and operations at Nasdaq.“From our perspective, the motivation to reduce index concentration is purely from the regulatory angle,” he said.All the stocks in that group fell on Monday, with shares of Alphabet and Amazon dropping more than 2%. The traditional version of the Nasdaq 100 was flat, while the one that strips out market cap bias climbed 1.8%. It’s a drastic reversal from the previous six months, when the equal-weight index trailed by 18 percentage points.“Megacap tech is underperforming today on the rebalance announcement,” said Alon Rosin, Oppenheimer & Co.’s head of institutional equity derivatives. “They all got hammered relatively as we are seeing money rotations elsewhere.”While the biggest firms will have their sway trimmed, and index-tracking funds such as Invesco QQQ Trust (ticker QQQ) will need to tweak holdings, the reshuffling is unlikely to by itself cause profound changes to the Nasdaq’s performance going forward. Apple, Microsoft and Amazon will still have commanding presences in the gauge befitting their 13-digit market values, with weightings similar to where they stood at various times in the past year.“Ideally the back half of the QQQ would see their influence increase,” said Sohn at Strategas. “But I don’t imagine it will be anything major outside of a day or two.”--With assistance from Sam Potter.(Updates to add context for the rebalance in third paragraph and Nasdaq’s comments starting in ninth.)Most Read from Bloomberg BusinessweekPlugging Methane Leaks From Derelict Oil Wells for Carbon CreditHow Mobile Money Is Bringing Electricity to the World’s PoorestHow Africa Can Take Charge of Its Drug and Vaccine SuppliesA Pop-Up Concert Company Gives Bands a Place to Perform, and 70% of the Profit©2023 Bloomberg L.P.

Bloomberg

Big Tech’s Dominance in Stock Market Hits Breakpoint for Nasdaq 100

https://finance.yahoo.com/news/big-tech-dominance-stock-market-183830527.html

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AAPL

In this article, we look at 25 states with the lowest poverty rates in America. You can skip our detailed analysis on poverty in the United States, and head over directly to the 10 States with the Lowest Poverty Rates in America.Poverty rate in the United States has continued to steadily decline over the last decade. 11.2% of the population lived below the poverty line, $27,479 for a family of four, in 2021, compared to 14.8% in 2011, according to the Census Bureau. In terms of demographics, communities most affected by poverty in order are the Native Americans, African Americans, and Hispanics. Similarly, geographically, there are states that are poorer than some of their wealthy counterparts.New Hampshire has the lowest poverty rate in the US among all 50 states. It is followed by Minnesota and New Jersey at second and third on the list of states with the lowest poverty rates. On the opposite side of the spectrum, Mississippi is the poorest state in the US having the highest poverty in the country with a population of 18.1% living below the poverty line.The United States is divided by its stark income inequality. One factor why poverty rates are low in some states compared to others is significant corporate presence in these states which leads to production of jobs and economic opportunity. This factor also indicates that these states are business friendly and have optimal economic policies in place.Maryland is one example. It is not just among the states with the lowest poverty rates, but is also one of the wealthiest states in America in terms of household income. There are at least 10 billionaires and more than 220,000 millionaires in the state.The world's largest hotel chain, Marriott International, Inc. (NASDAQ:MAR) is headquartered in Bethesda, Maryland. It has over a 100 hotels in the state of Maryland, providing employment to thousands of residents in the hospitality industry. Marriott International, Inc. (NASDAQ:MAR) reported a net income of $757 million in the first quarter of 2023, earing $2.43 per share.Story continuesLikewise, the state of New Jersey is home to Johnson & Johnson (NYSE:JNJ), a leading American multinational corporation that produces pharmaceutical, medical, and consumer packaged goods, and is a source of employment for the local community. It was founded in 1886 in New Brunswick, New Jersey, where it still has its corporate head office. The consumer division of Johnson & Johnson (NYSE:JNJ) is located in Skillman. The company is part of the Fortune 500 list of companies in the US having the highest revenue. Merck, Bed Bath & Beyond, and Cognizant are other prominent companies that are headquartered in the state, and contribute to the region's economic success.Virginia, which is in our list of states with the lowest poverty rates, has some of the biggest defense companies based in the state. One of them being the aerospace and armament manufacturer, General Dynamics Corporation (NYSE:GD) which is headquartered in Reston. It is one of the largest defense contractors of the U.S. Department of Defense. In 2022, General Dynamics Corporation (NYSE:GD) had a revenue of close to $40 billion, and received more than $21 billion in DoD contracts. You can read more about the biggest companies in Virginia in our article here.At the same time, several corporations such as Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Wells Fargo & Company (NYSE:WFC) are also undertaking voluntary initiatives to accelerate economic growth in areas with high poverty rates. TechSpark, a program launched by Microsoft Corporation (NASDAQ:MSFT), to provide digital access and skills to residents of rural areas has enabled 88% of the schools in Northeast Wisconsin to offer Computer Sciences education, which bodes well for their future career prospects.Apple Inc. (NASDAQ:AAPL)'s Employee Giving Program, which started in 2011 has already raised $880 million for people going through difficult times such as stress, poverty, or violence. The company matches dollar payments contributed by its employees in this cause, and also raises money in the pool for every hour volunteered by an Apple Inc (NASDAQ:AAPL) employee to help those in need.Another fine example is that of Wells Fargo & Company (NYSE:WFC), which is one of the leading financial institutions in the United States. In 2021, Wells Fargo & Company (NYSE:WFC) announced to spend $15 million in collaboration with a non-profit organization named ideas42 to help alleviate cost burdens and foster economic activities in regions regarded as middle or low income.MethodologyWe have used U.S. Census Bureau's three-year average poverty rates between 2019-2021 to rank the states with the lowest poverty rates in America. This is the latest official data available on the subject. In the case of poverty rates being equal for two or more states, the percentage change in poverty rates from the last census, which covered poverty data between 2018-2020, were used to act as a tiebreaker to rank one over the other.25 States With The Lowest Poverty Rates In AmericaDW labs Incorporated/Shutterstock.comLet's now head over to the list of states with the lowest poverty rates in America.25. HawaiiPoverty Rate: 10.1%Hawaii is located 2,000 miles from the U.S. mainland, in the Pacific Ocean. In 2021, it was estimated to have a poverty rate of 10.1%, up from 9.5% in 2020. Despite the increase, it is among the states having the lowest poverty rates in America.24. PennsylvaniaPoverty Rate: 10%Pennsylvania is considered the sixth richest state in the U.S., having over 300,000 millionaires. You can read more on this in our article, 20 Wealthiest States in America. In 2021, it had a poverty rate of 10%, which was below the national average in the U.S.23. DelawarePoverty Rate: 9.6%Delaware's poverty rate has risen from 7.6% in 2019 to 9.6% in 2021. However, it still manages to remain a wealthy state with a low poverty rate compared to most other states in the U.S. Delaware is known in the U.S., and around the world, for its STEM-based industries, high standard educational institutions, and the financial services sector, all three of which help drive its economy. Many businesses get incorporated in Delaware due to the reputation for its corporate law and Delaware chancery court. You can read more about it in our list of the most litigious companies in the US.22. IowaPoverty Rate: 9.5%Iowa is in the Midwest of the United States. It had a poverty rate of 9.5% in 2021 according to the Census Bureau. Wells Fargo & Company (NYSE:WFC) is one of the largest employers in Iowa, employing at least 12,000 people in the state capital, Des Moines.21. WyomingPoverty Rate: 9.4%Poverty rate in Wyoming was recorded at 9.4% in 2021 by the U.S. Census Bureau, remaining unchanged from the previous year. Close to 600,000 Americans live in the state.20. IllinoisPoverty Rate: 9.3%Home to the world's first McDonald's, Illinois is a state in Midwestern United States which is a popular travel destination. Millions of tourists from around the world visit Chicago annually and help the region generate tourism revenue and boost the economy. In 2021, the state had an estimated 9.3% of its population living below the poverty line.19. ConnecticutPoverty Rate: 9.2%The U.S. Census Bureau recorded Connecticut's poverty rate at 9.2% in 2021. It is located in the northeastern corner of the country, and is popular for being the home of sports channel, ESPN. Poverty in the state dropped by 7% from the previous year.18. MainePoverty Rate: 9.2%Maine tied Connecticut on poverty rates, but experienced a higher reduction in poverty levels (8%) between 2020 and 2021, due to which it is ranked higher on our list. Its capital city is Augusta.17. North DakotaPoverty Rate: 9.1%North Dakota is located in the upper Midwest, and is popularly known for the Theodore Roosevelt National Park. An estimated 9.1% of its residents live below the poverty line, which is lower than the national average in the United States. Poverty is on a downward slope in the state, having come down from 10.1% in 2019.16. Rhode IslandPoverty Rate: 9%Rhode Island ranks among the list of the U.S. states having the lowest poverty rates, recorded at 9% in 2021 by the Census Bureau. In 2019, poverty was estimated at 9.8%. This trend of declining poverty is also seen in Providence, which is the poorest city in Rhode Island with a poverty rate of 22.1%. The city has experienced an increase in median household income by 13.7% between 2020 and 2021. You can read more on this in our article, 25 Poorest Cities In The US That Are Getting Poorer.15. OregonPoverty Rate: 8.9%Oregon, located in the Pacific Northwest region of the country, is known for its diverse landscape. Poverty in the state declined by 2.2% between 2020 and 2021, which is a step in the right direction for Oregon. An estimated 8.9% of the people live in poverty.14. ColoradoPoverty Rate: 8.9%Colorado is next on the list of states with the lowest poverty rates in America. Poverty rate for the state was recorded at 8.9% in 2021, dropping by 4.3% from the previous year. The state is home to a number of large corporations, including Arrow Electronics, Inc. (NYSE:ARW) which is a Fortune 500 company that specializes in selling and offering value added services pertaining to computer products. Arrow Electronics, Inc. (NYSE:ARW) is headquartered in Centennial, Colorado.13. VirginiaPoverty Rate: 8.8%Next up is Virginia, where poverty rate was recorded at 8.8% in 2021 by the Census Bureau. The state has a median household income in excess of $80,000 which is higher than the national average in the United States. Virginia is home to General Dynamics Corporation (NYSE:GD), one of the largest companies in the defense industry.12. WisconsinPoverty Rate: 8.6%Poverty in Wisconsin has grown by 3.3%, from being recorded at 8.3% in 2020 to an estimated 8.6% of the population living below the poverty line in 2021. Manufacturing, agriculture, and tourism are the main drivers of Wisconsin's economy, which is why it ranks among the states with the lowest poverty rates in the United States.11. KansasPoverty Rate: 8.6%Kansas had a poverty rate of 8.6% in 2021, down from 8.7% in the previous year. Kansas is a landlocked state, bordered by Nebraska, Missouri, Colorado, and Oklahoma. It is an agricultural state, that produces high volumes of soybeans, wheat, sorghum, and corn.Click to continue reading and see 10 States with the Lowest Poverty Rates in America.Suggested Articles:50 Poorest Cities in Every State in the US25 Poorest Cities In The US That Are Getting Poorer20 Wealthiest States in AmericaDisclosure: None. 25 States with the Lowest Poverty Rates in America is originally published on Insider Monkey.

Insider Monkey

25 States with the Lowest Poverty Rates in America

https://finance.yahoo.com/news/25-states-lowest-poverty-rates-214950997.html

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AAPL

General Motors announced in the spring that it was getting rid of Apple CarPlay and Android Auto and replacing them with its own system. Now, some dealers are telling the Detroit Free Press they are concerned about losing customers over the change. Yahoo Finance Automotive Reporter Pras Subramanian has the details.Video Transcript- Car dealers appear increasingly concerned over GM's decision to phase out smartphone mirroring software like CarPlay from its vehicles. Yahoo Finance's Pras Subramanian has this story for us. And Pras, why are we seeing some concern here over the move that we knew it was coming from GM?PRAS SUBRAMANIAN: Yeah, well, I guess now we're hearing that some dealers are kind of concerned that buyers may not-- they may balk at GM products here. Because what GM wants to do is they want to introduce their new kind of infotainment system in their newest EV starting with a Blazer EV coming out this fall.So the free press-- Detroit Free Press spoke to some dealers, and they talk about how if CarPlay ain't broke, why are you fixing it. Why are we doing this. Why are we kind of making this big change for these new products coming out that are a big deal compared to the Ford Mustang Mach-E and cars like that. Kia EV6s of the world.There's a big concern there as this change is happening. Why are they making these changes with a very popular product. I mean, Apple says-- Apple says that about 80% of users want CarPlay in their car. Consumer Reports says around 55, 60% of users love CarPlay. They don't want to not have it. So this is kind of a conundrum for GM as to why they're doing it.I mean, we get it why. It's because they want to get to add on subscription fees, new services, new data they can get in versus giving up to Apple. So that's sort of why they're doing it, but it might backfire on them.- And Pras, you've written about this before about these additional sources of revenue, specifically looking at subscription models. I mean, how does GM's actions stack up against what we've seen from some of their other competitors?Story continuesPRAS SUBRAMANIAN: So we spoke to Ford at their capital markets stand. And they're talking about making a software-defined vehicle. One that kind of runs on one single OS. And you can-- they can, of course, then update via over-the-air updates. They can add apps to it that people will actually subscribe to. So it's not unheard of.But what Ford's not doing is getting rid of CarPlay. The Ford CEO Jim Farley said that our users want CarPlay, we're not going to get rid of it. We can't do better than what Apple is doing, so they're going to keep that. And competitors like Kia Hyundai's of the world, they are sticking with CarPlay. Mercedes BMW also with CarPlay. So you can see that GM is potentially out there on an Island along with Tesla and Rivian. But those two actually have a more developed ecosystem for their EV products.- We'll see whether or not it'll hurt sales of the GM vehicles here coming up. All right. Pras, thanks.

Yahoo Finance Video

GM is ditching Apple CarPlay & dealers are reportedly concerned

https://finance.yahoo.com/video/gm-ditching-apple-carplay-dealers-195330177.html

a876f04b-4ef9-3514-ba31-a9516e98c2d2

AAPL

A Nasdaq 100 special rebalance will take place July 24. Apple, Microsoft and the other "magnificent seven" stocks hold a 55% weight now.Continue reading

Investor's Business Daily

Nasdaq 100 Plans Special Rebalance To Curb Dominance Of 'Magnificent Seven'

https://finance.yahoo.com/m/70c450b1-c46a-3f2d-a5ea-0e2ddbea7adf/nasdaq-100-plans-special.html

70c450b1-c46a-3f2d-a5ea-0e2ddbea7adf

AAPL

Apple Originals honored with nominations across 13 hit titles, including "Ted Lasso," "STILL: A Michael J. Fox Movie," "Shrinking," "Black Bird," "Bad Sisters," "Schmigadoon!," "Selena Gomez: My Mind & Me," "The Problem with Jon Stewart," "Carpool Karaoke: The Series," "For All Mankind," "Five Days at Memorial," "Hello Tomorrow!" and "Prehistoric Planet""Ted Lasso" once again leads as this year's most-nominated comedy with 21 Emmy nominationsBroadly celebrated documentary "STILL: A Michael J. Fox Movie" leads documentaries with seven nominations, including Outstanding Documentary or Nonfiction SpecialApple TV+ breaks through in late night as "The Problem with Jon Stewart" lands three nominations including Outstanding Talk SeriesApple Original programs "Ted Lasso," "Shrinking," "Bad Sisters" and "Black Bird" are honored with 15 acting nominations for acclaimed performances"Carpool Karaoke: The Series" scores sixth series nomination, following five consecutive winsLOS ANGELES, July 12, 2023--(BUSINESS WIRE)--Apple TV+ makes history with a record 54 Emmy Award nominations across 13 hit Apple Original titles, catapulting to the third most Emmy-nominated network in just over three years since its global launch. Apple Originals land major category nominations including Outstanding Comedy series for this year’s most Emmy-nominated comedy "Ted Lasso"; Outstanding Documentary or Nonfiction Special for "STILL: A Michael J. Fox Movie," which also leads as this year’s most Emmy-nominated documentary; Outstanding Hosted Nonfiction Series or Special for late night breakout "The Problem with Jon Stewart"; and Outstanding Short Form Comedy, Drama or Variety Series for "Carpool Karaoke: The Series." Nominations for the 75th Emmy Awards were announced today by the Television Academy and the winners are set to be unveiled at a ceremony on September 18, 2023.Story continuesThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230712991241/en/Apple TV+ makes history with a record 54 Emmy Award nominations across 13 hit Apple Original titles, including Outstanding Comedy series for this year’s most Emmy-nominated comedy for the third consecutive year, "Ted Lasso" (Photo: Business Wire)"These brilliantly original stories have made us laugh, given us a greater sense of empathy and a fresh understanding of our world through many different genres of storytelling," said Zack Van Amburg, Apple’s head of Worldwide Video. "We are in awe of the unique talents of the casts and crews that have brought these fantastic programs to audiences across the globe and we thank the Television Academy for these honors.""We are incredibly grateful to the Television Academy for recognizing this wide array of Apple Original programming," said Jamie Erlicht, Apple’s head of Worldwide Video. "It has been an absolute pleasure to collaborate with these gifted artists and we couldn’t be happier to see them acknowledged for their exceptional work today. We send our warmest congratulations to all of the nominees."Global phenomenon "Ted Lasso" becomes the most-nominated comedy for the third consecutive year with 21 in total, expanding its nominations for its acclaimed third season. The series also lands nine total acting nominations, becoming only the fifth comedy in history to receive Emmy Award nominations for all of its original series regulars, joining "All in the Family," "Golden Girls," "Schitt’s Creek" and "Will & Grace." Emmy Award-winning stars Jason Sudeikis, Brett Goldstein and Hannah Waddingham are recognized with back-to-back nominations for season three. Stars Phil Dunster and Juno Temple, and guest stars Sam Richardson, Sarah Niles, Harriet Walter and Becky Ann Baker also land acting nominations.Apple Original documentary "STILL: A Michael J. Fox Movie" leads this year’s documentary films and docuseries with a total of seven Emmy Award nominations including Outstanding Documentary or Nonfiction Special and Directing for a Documentary/Nonfiction Special.For the first year, Apple TV+ breaks through in late night programming as "The Problem with Jon Stewart" is recognized with nominations for Outstanding Talk Series, Directing for a Variety Series, and Technical Direction and Camerawork for a Series.Apple Originals "Shrinking," "Bad Sisters," "Black Bird," "Selena Gomez: My Mind & Me," "Prehistoric Planet," "Five Days at Memorial" and "Hello Tomorrow!" are recognized with first-time Emmy Award nominations. In addition, "Carpool Karaoke: The Series" scores with its sixth consecutive series nomination, following its fifth win in a row.Apple TV+ series stars earn 15 acting category nominations, including nine top acting nominations for acclaimed performances in the third season of "Ted Lasso," and first-time nominations for "Shrinking" stars Jason Segel and Jessica Williams, and "Black Bird" stars Taron Egerton and Paul Walter Hauser. Sharon Horgan lands her first acting nomination in the Lead Actress in a Drama Series category for her celebrated performance in hit "Bad Sisters."In 2022, "Ted Lasso" joined the ranks of comedy legends with its win for Outstanding Comedy Series for its first and second seasons, becoming only the eighth series in the genre in 74 years of Emmy history to do so. The second season of "Ted Lasso" also became the most Emmy-winning comedy for the second year in a row with four total wins, including Emmy Awards for Outstanding Lead Actor in a Comedy Series (Jason Sudeikis), Outstanding Supporting Actor in a Comedy Series (Brett Goldstein), and Outstanding Directing for a Comedy Series (MJ Delaney).In total, Apple scores 54 Emmy Award nominations including:"Ted Lasso" season three (21)Outstanding Comedy SeriesLead Actor in a Comedy Series - Jason SudeikisSupporting Actor in a Comedy Series - Phil DunsterSupporting Actor in a Comedy Series - Brett GoldsteinSupporting Actress in a Comedy Series - Juno TempleSupporting Actress in a Comedy Series - Hannah WaddinghamGuest Actor in a Comedy Series - Sam RichardsonGuest Actress in a Comedy Series - Becky Ann BakerGuest Actress in a Comedy Series - Sarah NilesGuest Actress in a Comedy Series - Harriet WalterDirecting for a Comedy Series - Declan LowneyCasting for a Comedy SeriesWriting in a Comedy SeriesPicture Editing for a Single-Camera Series - A.J. Catoline, ACE + Alex SzaboPicture Editing for a Single-Camera Series - Melissa McCoy + Francesca CastroProduction Design for a Narrative Contemporary (One Hour or More)Contemporary HairstylingOriginal Music and Lyrics - "Fought & Lost"Original Music and Lyrics - "A Beautiful Game"Music SupervisionSpecial Visual Effects in a Single Episode"STILL: A Michael J. Fox Movie" (7)Outstanding Documentary or Nonfiction SpecialDirecting for a Documentary/Nonfiction ProgramCinematography for a Nonfiction ProgramPicture Editing for a Nonfiction ProgramMusic Composition for a Documentary Series or SpecialSound Editing for a Nonfiction or Reality ProgramSound Mixing for a Nonfiction Program"Bad Sisters" (4)Lead Actress in a Drama Series - Sharon HorganDirecting in a Drama Series - Dearbhla WalshWriting in a Drama SeriesCasting for a Drama Series"Black Bird" (4)Lead Actor in a Limited or Anthology Series or Movie - Taron EgertonSupporting Actor in a Limited or Anthology Series or Movie - Paul Walter HauserSupporting Actor in a Limited or Anthology Series or Movie - Ray LiottaCinematography for a Limited or Anthology Series or Movie"Schmigadoon!" season two (3)Production Design for a Narrative Program (Half-Hour)Choreography for a Scripted ProgramCinematography for a Series (Half-Hour)"The Problem with Jon Stewart" season two (3)Outstanding Talk SeriesDirecting for a Variety SeriesTechnical Direction and Camerawork for a Series"Shrinking" (2)Lead Actor in a Comedy Series - Jason SegelSupporting Actress in a Comedy Series - Jessica Williams"Five Days at Memorial" (1)Special Visual Effects in a Single Episode"Prehistoric Planet" season two (1)Outstanding Music Composition for a Documentary Series or Special"Selena Gomez: My Mind & Me" (1)Writing for a Nonfiction Program"For All Mankind" season three experience (1)Emerging Media Program"Carpool Karaoke: The Series" season five (1)Short Form Comedy, Drama or Variety Series"Hello Tomorrow!" (1)Main Title DesignOutstanding Commercial (4)Apple - The Greatest - AccessibilityCall Me with Timothee Chalamet - Apple TV+Quiet the Noise - AirPodsR.I.P. Leon - Apple"Bad Sisters"In "Bad Sisters," the tight-knit Garvey sisters have always looked out for each other. When their brother-in-law winds up dead, his life insurers launch an investigation to prove malicious intent — and set their sights on the sisters, all of whom had ample reason to kill him. The "Bad Sisters" ensemble cast is led by Sharon Horgan, Anne-Marie Duff, Eva Birthistle, Sarah Greene and Eve Hewson as the Garvey sisters. Claes Bang, Brian Gleeson, Daryl McCormack, Assaad Bouab and newcomer Saise Quinn round out the ensemble cast.The series is executive produced and written by Horgan with Brett Baer and Dave Finkel, who adapted it from the Belgian version of the series "Clan," which was created by Malin-Sarah Gozin. Horgan, Faye Dorn and Clelia Mountford executive produce for Merman; and Gozin, Bert Hamelinck and Michael Sagol executive produce for Caviar. In addition to Horgan, Baer and Finkel, the series is written by Karen Cogan, Ailbhe Keogan, Daniel Cullen, Perrie Balthazar and Paul Howard. Dearbhla Walsh, Josephine Bornebusch and Rebecca Gatward serve as directors. Walsh also serves as executive producer. "Bad Sisters" is produced by Merman Television and ABC Signature, a part of Disney Television Studios."Black Bird"Inspired by actual events, when high school football hero and decorated policeman’s son Jimmy Keene (Taron Egerton) is sentenced to 10 years in a minimum security prison, he is given the choice of a lifetime — enter a maximum-security prison for the criminally insane and befriend suspected serial killer Larry Hall (Paul Walter Hauser), or stay where he is and serve his full sentence with no possibility of parole. Keene quickly realizes his only way out is to elicit a confession and find out where the bodies of several young girls are buried before Hall’s appeal goes through. But is this suspected killer telling the truth? Or is it just another tale from a serial liar? This dramatic and captivating story subverts the crime genre by enlisting the help of the very people put behind bars to solve its mysteries."Black Bird" is developed, written and executive produced by Dennis Lehane. The first three episodes are directed by Academy Award nominee Michaël R. Roskam, who also serves as executive producer. Lehane, Egerton and Roskam executive produce alongside Richard Plepler through his EDEN Productions; Bradley Thomas, Dan Friedkin and Ryan Friedkin executive produce through Imperative Entertainment; Alexandra Milchan and Scott Lambert executive produce through EMJAG Productions; and Kary Antholis also executive produces, along with the book’s author Keene. Jim McKay and Joe Chappelle also direct. The limited series is produced for Apple TV+ by Apple Studios."Carpool Karaoke: The Series"This season, the stars — sharing a car, singing along to their personal playlists and embarking on new adventures — include Kevin Bacon, Michael Bacon, Ciara, Brian Cox, Chelsea Clinton, Hillary Clinton, Alan Cumming, Duran Duran, Nikki Glaser, Method Man, Sandra Oh, Chris Redd, Amber Ruffin, Wilco, Russell Wilson, the cast of "For All Mankind" and more."Carpool Karaoke: The Series" is produced for Apple by CBS Studios and Fulwell 73 Productions with executive producers James Corden, Eric Pankowski and Ben Winston."Five Days at Memorial"From Academy Award winner John Ridley and Emmy Award winner Carlton Cuse, who both also serve as directors, and starring an award-winning ensemble cast that includes Vera Farmiga, Cornelius Smith Jr. and Emmy Award winner Cherry Jones, "Five Days at Memorial" chronicles the impact of Hurricane Katrina and its aftermath on a local hospital. When the floodwaters rose, power failed, and heat soared, exhausted caregivers at a New Orleans hospital were forced to make decisions that would follow them for years to come.In addition to Farmiga, Smith Jr. and Jones, the limited series stars Robert Pine, Julie Ann Emery, Adepero Oduye, Molly Hager, Michael Gaston and W. Earl Brown."Five Days at Memorial" is executive produced and written by Cuse and Ridley, the series is directed by Cuse, Ridley and Wendey Stanzler. The series hails from ABC Signature, a part of Disney Television Studios."For All Mankind"The propulsive third season of the alternate reality series, takes viewers to a new decade, moving into the early ’90s with a high-octane race to a new planetary frontier: Mars. The Red Planet becomes the new front in the Space Race not only for the US and the Soviet Union, but also an unexpected new entrant with a lot to prove and even more at stake. Our characters find themselves going head-to-head as their ambitions for Mars come into conflict and their loyalties are tested, creating a pressure cooker that builds to a climactic conclusion."For All Mankind" is created by Emmy Award winner Moore, and Emmy Award nominees Nedivi and Wolpert. Nedivi and Wolpert serve as showrunners, and executive produce alongside Moore and Davis of Tall Ship Productions, as well as David Weddle, Bradley Thompson and Nichole Beattie. "For All Mankind" is produced by Sony Pictures Television."Hello Tomorrow!""Hello Tomorrow!" is an inspiring dramedy starring and executive produced by Emmy and Critics Choice Award winner Billy Crudup. Set in a retro-future world, "Hello Tomorrow!" centers on a group of traveling salesmen hawking lunar timeshares. Crudup stars as Jack, a salesman of great talent and ambition, whose unshakeable faith in a brighter tomorrow inspires his coworkers, revitalizes his desperate customers, but threatens to leave him dangerously lost in the very dream that sustains him. The ensemble cast starring alongside Crudup includes Haneefah Wood, Alison Pill, Nicholas Podany, Dewshane Williams, Emmy Award winner Hank Azaria, Matthew Maher and Academy Award nominee Jacki Weaver.Co-created by Amit Bhalla and Lucas Jansen, "Hello Tomorrow!" is produced by MRC Television. Stephen Falk, Jonathan Entwistle, Bhalla and Jansen serve as executive producers alongside Crudup. Blake Griffin, Ryan Kalil and Noah Weinstein serve as executive producers for Mortal Media."Prehistoric Planet"The series, from executive producers Jon Favreau and Mike Gunton and BBC Studios Natural History Unit ("Planet Earth"), and narrated by Sir David Attenborough with an original score by Hans Zimmer, Anže Rozman and Kara Talve from Bleeding Fingers Music, transports viewers back millions of years in the past to discover our world — and the dinosaurs that roamed it — all in extraordinary detail. Viewers explore five new habitats, including the active volcanoes of India, the marshlands of Madagascar, the deep oceans near North America and so much more. Throughout this season, the series and its creators take you up close into dinosaurs’ habitats to experience the dangers, the adventures and even the camaraderie between species unlike any we’ve seen before."Prehistoric Planet" combines award-winning wildlife filmmaking, the latest paleontology learnings and state-of-the-art technology to unveil the spectacular habitats and inhabitants of ancient Earth for a one-of-a-kind immersive experience. The series is produced by the world-renowned team at BBC Studios Natural History Unit with support from the photorealistic visual effects of MPC applied to concept art created by Jellyfish Pictures. The theme is by Hans Zimmer and Andrew Christie for Bleeding Fingers Music, with an original score by Zimmer, Anže Rozman and Kara Talve for Bleeding Fingers Music."The Problem with Jon Stewart"Acclaimed host, writer, producer, director and advocate Jon Stewart, recipient of the 2022 Mark Twain Prize for American Humor, leads with compassion and humor as he takes a deep dive into some of the most important issues of our time. Using comedy and common sense, the series features tough, topical and culture-moving conversations from the perspectives of stakeholders, experts and individuals confronting these issues.The Writers Guild Award-nominated series "The Problem With Jon Stewart" is hosted and executive produced by Stewart through his Busboy Productions. The series is executive produced by showrunner Brinda Adhikari, alongside Stewart’s longtime manager James Dixon, Chris McShane and Richard Plepler through his Eden Productions, which has an exclusive overall production deal with Apple. Lorrie Baranek and Reza Riazi are supervising producers and Kris Acimovic is head writer."Schmigadoon!"Having found true love in the town of Schmigadoon, season two of "Schmigadoon!" finds Josh (Keegan-Michael Key) and Melissa (Cecily Strong) in Schmicago, the reimagined world of ’60s and ’70s musicals. The second season of Apple’s broadly acclaimed comedy includes new original musical numbers from co-creator, executive producer and showrunner Cinco Paul, as well as returning stars Cecily Strong, Keegan-Michael Key, Ariana DeBose, Martin Short, Dove Cameron, Jaime Camil, Kristin Chenoweth, Alan Cumming, Ann Harada, Jane Krakowski and Aaron Tveit with Tituss Burgess and Patrick Page joined the cast for season two."Schmigadoon!" hails from Broadway Video and Universal Television, a division of Universal Studio Group. "Schmigadoon!" is co-created by Cinco Paul and Ken Daurio. Paul serves as showrunner and wrote all of the original songs for the series. Lorne Michaels and Andrew Singer serve as executive producers, Micah Frank serves as co-executive producer, and star Cecily Strong and Caroline Maroney serve as producers."Selena Gomez: My Mind & Me""Selena Gomez: My Mind & Me" is a documentary feature about singer, songwriter, actress, producer, entrepreneur and activist Selena Gomez, "Selena Gomez: My Mind & Me," directed and produced by Alek Keshishian.After years in the limelight, Selena Gomez achieves unimaginable stardom. But just as she reaches a new peak, an unexpected turn pulls her into darkness. This uniquely raw and intimate documentary spans her six-year journey into a new light. This film marks the second project for Apple with producers Lighthouse Management + Media and Interscope Films following their collaboration on the Emmy Award-nominated documentary "Billie Eilish: The World’s a Little Blurry.""Shrinking"Starring Jason Segel and Harrison Ford in one of his first television roles, "Shrinking" follows grieving therapist Jimmy (Segel) who starts to break the rules and tell his clients exactly what he thinks. Ignoring his training and ethics, he finds himself making huge, tumultuous changes to people’s lives … including his own. In addition to Segel and Ford (Paul), the series stars Jessica Williams (Gaby), Christa Miller (Liz), Lukita Maxwell (Alice), Michael Urie (Brian) and Luke Tennie (Sean).Co-created by Emmy Award-winning "Ted Lasso" executive producer Bill Lawrence, Emmy Award-winning "Ted Lasso" star, writer and co-executive producer Brett Goldstein, and Segel, "Shrinking" is produced by Warner Bros. Television, where Lawrence and Goldstein are under overall deals, and Lawrence’s Doozer Productions. Lawrence, Segel, Goldstein, Neil Goldman, James Ponsoldt, Randall Winston, Jeff Ingold and Liza Katzer serve as executive producers."STILL: A Michael J. Fox Movie""STILL: A Michael J. Fox Movie" starring Michael J. Fox and Tracy Pollan, is directed by Academy Award winner Davis Guggenheim. The film, which incorporates documentary, archival and scripted elements, recounts Fox’s extraordinary story in his own words — the improbable tale of an undersized kid from a Canadian army base who rose to the heights of stardom in 1980s Hollywood. The account of Fox’s public life, full of nostalgic thrills and cinematic gloss, unspools alongside his never-before-seen private journey, including the years that followed his diagnosis, at 29, with Parkinson’s disease. Intimate and honest, and produced with unprecedented access to Fox and his family, the film chronicles Fox’s personal and professional triumphs and travails, and explores what happens when an incurable optimist confronts an incurable disease. With a mix of adventure and romance, comedy and drama, watching the film feels like … well, like a Michael J. Fox movie."STILL: A Michael J. Fox Movie" is produced by Concordia Studio. Guggenheim, Annetta Marion, Will Cohen and Jonathan King serve as producers, with Laurene Powell Jobs, Jonathan Silberberg, Nicole Stott and Fox’s longtime producing partner Nelle Fortenberry executive producing. The project marks the second partnership for Apple and Concordia Studio following the Emmy Award-winning documentary "Boys State.""Ted Lasso"Jason Sudeikis is Ted Lasso, an American football coach hired to manage a British soccer team — despite having no experience. But what he lacks in knowledge, he makes up for with optimism, underdog determination — and biscuits. The widely acclaimed series also stars Hannah Waddingham, Brendan Hunt, Jeremy Swift, Juno Temple, Brett Goldstein, Phil Dunster, and Nick Mohammed.In addition to starring, Sudeikis serves as executive producer, alongside Bill Lawrence via his Doozer Productions, in association with Warner Bros. and Universal Television, a division of Universal Studio Group. Doozer’s Jeff Ingold also serves as an executive producer, with Liza Katzer as co-executive producer. The series was developed by Sudeikis, Lawrence, Brendan Hunt, and Joe Kelly, and is based on the preexisting format and characters from NBC Sports.All programs are currently streaming on Apple TV+.Apple TV+ offers premium, compelling drama and comedy series, feature films, groundbreaking documentaries, and kids and family entertainment, and is available to watch across all your favorite screens. After its launch on November 1, 2019, Apple TV+ became the first all-original streaming service to launch around the world, and has premiered more original hits and received more award recognitions faster than any other streaming service in its debut.About Apple TV+Apple TV+ is available on the Apple TV app in over 100 countries and regions, on over 1 billion screens, including iPhone, iPad, Apple TV, Mac, popular smart TVs from Samsung, LG, Sony, VIZIO, TCL and others, Roku and Amazon Fire TV devices, Chromecast with Google TV, PlayStation and Xbox gaming consoles, and at tv.apple.com, for $6.99 per month with a seven-day free trial. For a limited time, customers who purchase and activate a new iPhone, iPad, Apple TV, Mac or iPod touch can enjoy three months of Apple TV+ for free.*For more information, visit apple.com/tvpr and see the full list of supported devices.View source version on businesswire.com: https://www.businesswire.com/news/home/20230712991241/en/ContactsApple Media Helplinemedia.help@apple.com

Business Wire

Apple lands record 54 Emmy Award nominations, and makes history as "Ted Lasso" becomes the most Emmy-nominated comedy for the third consecutive year, and "STILL: A Michael J. Fox Movie" becomes most-nominated documentary

https://finance.yahoo.com/news/apple-lands-record-54-emmy-203300653.html

4e178987-4f51-37d1-bee0-1143cb4f94af

AAPL

A Nasdaq 100 special rebalance will take place July 24. Apple, Microsoft and the other "magnificent seven" stocks hold a 55% weight now.Continue reading

Investor's Business Daily

Nasdaq 100 Plans Special Rebalance To Curb Dominance Of 'Magnificent Seven'

https://finance.yahoo.com/m/70c450b1-c46a-3f2d-a5ea-0e2ddbea7adf/nasdaq-100-plans-special.html

70c450b1-c46a-3f2d-a5ea-0e2ddbea7adf

AAPL

SAG-AFTRA, the union that represents film and television actors, is officially going on strike. They'll be joining Hollywood writers, who went on strike in May. Oppenheimer Head of Internet Research Jason Helfstein tells Yahoo Finance Live why, despite the disruption, the strikes are "probably a near-term tailwind" for Netflix and other streamers.

Yahoo Finance Video

Hollywood actors strike could be a 'near-term benefit' for streamers: Analyst

https://finance.yahoo.com/video/hollywood-actors-strike-could-near-201509832.html

42a85eb8-b4d6-3956-9be9-b66beaa00972

AAPL

The market rally kept running with JPMorgan leading big earnings Friday. Nasdaq 100 special rebalance news also is on tap.Continue reading

Investor's Business Daily

Dow Jones Futures: Stocks Run With Big Earnings, Nasdaq 100 Rebalance Due

https://finance.yahoo.com/m/c81b40fb-b7c7-315c-95ef-903ba0f75f81/dow-jones-futures-stocks-run.html

c81b40fb-b7c7-315c-95ef-903ba0f75f81

AAPL

This is The Takeaway from today's Morning Brief, which you can sign up to receive in your inbox every morning along with:The chart of the dayWhat we're watchingWhat we're readingEconomic data releases and earningsPardon me while I wake up from a snooze triggered by thinking about Amazon Prime Day this week.The whole annual spending ordeal came and went with little fanfare. And I think that says a lot about Amazon (AMZN) and the broader tech industry at the moment.Adobe Analytics said that across both days, $12.7 billion was spent online in the US — representing 6.1% growth year over year. Amazon put out a press release using the word "ever" two times in the headline (a pet peeve of this journalist) to hype up its performance.All in all, people spent money this week. Amazon probably gained some new Prime members, which will open the door for them to spend more money on Amazon this holiday season.Great.But who cares about Prime Day when it's stacked up against a game-changing year for tech? I mean, really.Nvidia (NVDA) is pushing the AI revolution forward with its powerful new chips. AMD (AMD) CEO Dr. Lisa Su blew me away when she described what's next with her company's own generative AI chips.Then we have Microsoft (MSFT) and Google (GOOG, GOOGL) going head to head on AI product releases. Did I mention Microsoft is about to own Call of Duty maker Activision Blizzard? Huge deal. Broadcom (AVGO) also moved closer this week to securing its deal for VMWare (VMW). Huge deal.ChatGPT continues to capture everyone's attention.And Meta Platforms (META) is powering ahead with AI while also stealing millions of users from Elon Musk's Twitter. I was impressed by what Meta is working on when chatting with top exec Nicola Mendelsohn at Cannes.Meanwhile, Apple's (AAPL) new $1,000 plus AR/VR goggles could usher in a new wave of human interaction. And the company is now worth over $3 trillion.Story continuesYet, we have Amazon Prime Day in the summer."Yes, Amazon has become boring in the tech space because while their core business is good (obviously) they aren't innovating the way we’re used to," Sevens Report Research founder Tom Essaye quipped to me via email. Tom is right.Andrew Ross Sorkin speaks with Amazon CEO Andy Jassy during the New York Times DealBook Summit in the Appel Room at the Jazz At Lincoln Center on November 30, 2022 in New York City. (Photo by Michael M. Santiago/Getty Images)What was the last big innovation you have seen from Amazon? Alexa?It's certainly not the consumer-facing website, which increasingly looks like an overrun flea market.What's the deal with Whole Foods? I am an avid shopper and love the fish department. But I go in there and leave every single time thinking how Amazon has basically done nothing to reinvent this brand and the industry with a major innovation.Under CEO Andy Jassy, all investors have been rewarded with are headlines on layoffs and less-than-amazing top- and bottom-line growth.The stock price has lagged too — shares are down about 17% compared to a gain of around 9% for the Nasdaq since Jassy started in early July 2021. Over the last five years, Amazon stock is trailing the Nasdaq by over 30 percentage points.Now, none of this is to say that boring can't be wildly profitable for Amazon. The company's web services cloud business will get its fair share of business as workloads powered by AI tools demand more capacity."We are likely on the precipice of an explosion in AI workload growth in the 2H as GPU capacity comes online, with incremental workload growth here more than offsetting the workloads that have been taken out of the system through the current rationalization cycle," Deutsche Bank's Lee Horowitz said in a recent note. "Importantly, our checks here leave us confident that AWS will accrue more than its fair share of these workloads/dollars, supporting meaningful revenue growth reacceleration into 2024."Point well taken.But to really get Amazon's stock and brand back in sizzling territory — where its peers reside — the company's culture of innovation has to resurface."Bottom line, they haven't innovated recently the way we're used to," Essaye said.And this innovation needs to show up not just internally, but externally for consumers and investors to see.Click here for the latest stock market news and in-depth analysis, including events that move stocksRead the latest financial and business news from Yahoo Finance

Yahoo Finance

Amazon has become one of the most boring stories in tech: Morning Brief

https://finance.yahoo.com/news/amazon-has-become-one-of-the-most-boring-stories-in-tech-morning-brief-102017352.html

3768be34-89ea-4c50-be4a-f91814913648

AAPL

These companies have offered investors massive growth over the last five years and are unlikely to stop anytime soon.Continue reading

Motley Fool

3 Unstoppable Growth Stocks to Buy If There's a Market Sell-Off

https://finance.yahoo.com/m/66310b54-b926-3c3c-a668-65ae460a26a1/3-unstoppable-growth-stocks.html

66310b54-b926-3c3c-a668-65ae460a26a1

AAPL

Hollywood actors and writers are taking to the picket lines in a bid to get a new deal with studios. According to a new report from Moody's, the new deals could cost studios hundreds of millions of dollars a year. Yahoo Finance Senior Reporter Alexandra Canal breaks down the report, which also explains how streamers, like Netflix (NFLX) and Apple (AAPL), may be best positioned to deal with the shutdown.

Yahoo Finance Video

Hollywood strikes: New labor deals could cost media companies up to $600M a year, says Moody's

https://finance.yahoo.com/video/hollywood-strikes-labor-deals-could-211339746.html

7aa6dd71-0f1d-30a8-8b36-5252b7fc5789

AAPL

Morgan Stanley estimates that India can add over 170 million new users to Apple's ecosystem over the next decadeContinue reading

Barrons.com

Apple Stock Hits a Record as Analysts Flag Revenue from India

https://finance.yahoo.com/m/4b81e516-2233-3b6e-b67c-887e3b245c8c/apple-stock-hits-a-record-as.html

4b81e516-2233-3b6e-b67c-887e3b245c8c

AAPL

It's time for sizzling stock prices to take a breather.The market may be at that point now as summer winds to a close, one top Wall Street strategist argued."We deserve to be where we are [in markets], but do we have enough coming to really get the market incrementally excited from here from an economic perspective?" RBC's Lori Calvasina said on Yahoo Finance Live (video above) in the wake of her latest research. "I'm just not seeing it yet. Maybe I'll get it later this year, but not right now."Calvasina pointed to several reasons behind her growing concern about the near-term market outlook.This content is not available due to your privacy preferences.Update your settings here to see it.First, rising earnings estimates for S&P 500 companies is a phenomenon that has largely played out this year.Investors usually race to buy stocks when analysts are lifting profit and cash flow forecasts on companies. Remember, the present value of a stock price reflects expectations of future cash flow.This "important catalyst" for markets is in the rearview mirror, Calvasina said.Second, investors may be too optimistic about the outlook for the US economy in 2024 leading to a strong reacceleration in earnings growth.As it stands, economic indicators ranging from the July jobs report to various manufacturing surveys haven't supported that optimism.A pedestrian walks near a worker directing traffic on a construction site in central Sydney, Australia, June 7, 2017. (REUTERS/Jason Reed)And lastly, Calvasina said, the looming presidential election in 2024 is a "source of uncertainty" for the stock market.Calvasina explained investors are beginning to grow worried about the potential for another contentious race for the White House — and may head for the exit in the near term.To be sure, the broader market is showing signs of fatigue as investors wade through the dog days of summer and assess above-average valuations as well as Fitch's US credit rating downgrade.The hottest trades of 2023 — namely those in the AI space — have come under pressure in August, for starters.C3.ai (AI) is down 8% in August, Salesforce (CRM) is off by 4%, Microsoft (MSFT) is down 2%, and Nvidia (NVDA) has lost 3%.Story continuesIn a new research note on Monday, BTIG technical strategist Jonathan Krinsky called out that the S&P 500 has dipped below its 45-day moving average. The move suggests buyer's fatigue.The tech complex — as measured through the prism of the Invesco QQQ Trust — has failed to break through a key resistance level according to Krinsky's work.And market leader Apple (AAPL) has seen its stock fall below the 50-day moving average after a mixed earnings report a week ago.Month to date, the Dow Jones Industrial Average (^DJI), Nasdaq Composite (^IXIC), and S&P 500 (^GSPC) are all slightly lower."We see a market more vulnerable to bad news as stocks have become extended on a short-term basis," Truist co-chief investment officer Keith Lerner said. "Valuations have pushed to one of the richest levels of the past few decades and investor expectations have been reset sharply higher as we head into a more challenging seasonal period."Brian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Tips on deals, mergers, activist situations, or anything else? Email brian.sozzi@yahoofinance.com.Click here for the latest stock market news and in-depth analysis, including events that move stocksRead the latest financial and business news from Yahoo Finance

Yahoo Finance

3 reasons why the stock market rally may be stopped in its tracks

https://finance.yahoo.com/news/3-reasons-why-the-stock-market-rally-may-be-stopped-in-its-tracks-135810619.html

b122619a-4224-4c7a-875e-636bdad441e9

AAPL

(AFP via Getty Images)Apple is planning a host of powerful new Macs, according to new rumours.The company is testing a high-end MacBook Pro, powered by a new M3 chip with more cores than in the existing M2 line, according to Bloomberg’s Mark Gurman. And it is also testing a new version of the Mac Mini, due for release next year, he reported.Apple has updated nearly all of its current Macs to the M2 line of chips – which also includes the M2 Pro, Max and Ultra – over recent months. That includes the Mac Pro, which had been long neglected and received an update at Apple’s Worldwide Developers Conference event in June, bringing Apple’s full line-up onto the same chip architecture.Now Apple is planning for the successor to those chips, the M3. They are expected to arrive with updated computers: the MacBooks and Mac Mini, as well as the iMac which has not gone updated since 2021.They could start arriving in computers from late this year, Mr Gurman reported. The high-end MacBook Pro updates are expected to arrive in 2024, he said.Apple said during its earning call last week that it was expecting to see Mac revenue decline in the fourth quarter of its financial year. That further suggests that Apple is not planning new Macs before the next financial year, which begins in October.Apple is widely expected to release new iPhones next month. The Pro models are due to receive a new chip in the form of the A17, which might offer some insight into the details of the M3, since Apple shares significant technologies between its iPhone and Mac chips.

The Independent

Apple planning host of powerful new computers with updated M3 chip, rumours say

https://finance.yahoo.com/news/apple-planning-host-powerful-computers-192604559.html

4d5c62a1-a1db-353a-b920-a18058b99bc7

AAPL

Amazon (AMZN) is in talks to become an anchor investor in British chip designer Arm's IPO, according to Reuters. In addition to Amazon, NVIDIA (NVDA), Apple (AAPL), Intel (INTC), and Samsung (005930.KS) are among other rumored investors. Yahoo Finance Tech Reporters Allie Garfinkle and Dan Howley discuss the impact and importance of Arm's IPO for the company and the IPO market.Video Transcript- Well, the hotly anticipated largest IPO of the year is reportedly getting a huge new investor. That is Amazon, which may become an anchor investor in the public offering of Arm, the British chip designer owned by Japan's SoftBank. All of this according to Reuters.Amazon would join the likes of other reported investors, including Samsung, Intel, Apple, and Nvidia, the latter whose $40 billion purchase of arm was derailed last year by regulatory concerns. Arm primarily designs chips for smartphones. But investors may be betting on future growth areas like data centers and of course, artificial intelligence.The IPO reportedly set for September it could give the company a massive 60 to $70 billion valuation. Let's get more on the IPO and its bigger significance, both for the IPO market and for big tech. Allie Garfinkle is here with us in the studio and Dan Howley is joining us remotely as well. Guys, thanks for being here.So we've been-- I've been trying to sort of wrap my head around these various investors in Arm and sort of its bigger meaning. Allie, I'll start with you here. How should we be contextualizing this?ALLIE GARFINKLE: So I think we should start with, Amazon. And we should remember that unlike a lot of tech companies that we think of as going to IPO, this is a giant profitable business. And it has a list of clients that would make most startups absolutely salivate, right?Think about, for instance, Amazon as an investor in Arm. They've been trying to build up their semiconductor business. You have Intel, which has a deal for foundry work with them. Nvidia uses them in their Grace CPU. There's a whole world of companies that are already working with Arm.Story continuesSo I think the thing I would say, Julie, as a place to start is this is part of the cosmic dance around chips and AI that we're seeing in tech at large.- And so Dan, when we think about the intellectual property that a company like Arm has been able to tout, even as some of the filings about their relationship with SoftBank, which is very storied at this point in time. You know, how that really classified the company as a leading semiconductor intellectual property supplier, and then scalable components as well. Where do you think that the investor reception for a company like Arm would look like once they make their debut?DAN HOWLEY: Yeah. I mean, that's going to be the interesting story here is to where the investor sees this company going. Let me just give you kind of a level set of where you'll find Arm stuff. They're virtually every smartphone you can think of. Whether that's coming from Qualcomm's devices or chips. Those are Arm-based. Apple, those are Arm-based. Samsung uses Qualcomm. Google uses Qualcomm smaller player, obviously, in the smartphone space.So that means that it's in tablets. It's in smartphones. It's in laptops and desktops. Those are arm chips that Apple uses in its laptops and desktops. On the Windows side of things, Intel is still the big player. But their windows is trying to get low power PCs to be a bigger product. And so they've worked with Arm as well to get some of those chips into PCs.They're also available on the server side of things. As Allie said, they work with Nvidia as far as the CPU. Not the GPU side. That's very important to point out. It's just the CPU side. Although Arm is trying to work on its own GPU.So this is a company where they're already spread across the spectrum of devices. Vehicles, smart home stuff, smaller connected devices. It's everywhere. So this isn't a company where if you're an investor, you would say, oh, gee, this has got a huge chance for growth. Sure, I mean, as far as the AI boom goes, yes. But they're a company that already, as Allie said, does great business. They're profitable, and they've been around for quite a while.So I think for the average investor, looking at an IPO, it's not something where you would jump on and say, boy, is this going to be the next Nvidia? Is it going to blow up like that? Perhaps, if they dive deeper into AI. Something that they're trying to position themselves as an AI play.That's not really where the company is, though. But that's the way they want to position themselves. Maybe then that's where investors would look. But I don't think people should look at this and say, this is a brand new company by any stretch of the imagination.ALLIE GARFINKLE: And I think kind of it's also important to really highlight this point Dan is making. Arm's business currently is semiconductor IP. It is not AI. This is not an AI play in the traditional sense where we're thinking of Nvidia as an AI play.As they've sort of been trying to move towards going public, they have been saying things like on small devices, small scale AI processors. We can run stuff like that. But that is the future business. It's not an AI play today.And kind of to that end, you know I'm looking at the banner. And I have talked to a lot of experts about this. Arm is completely singular. This isn't a VC-backed tech company in the traditional sense.If you're looking for IPOs down the line, the real ones that are going to start a new tech IPO boom are going to be the instacart's of the world, the SpaceX's, the Stripes. Those are the ones that everyone is saying is really where all of this is going. However I think it is really important to say arm is still going to move the needle forward.We're not going to see an IPO boom like we did in 2021. But it is going to be-- using the weather metaphor. It's not going to be a flood, but there's going to be a light rain.- Well, I guess what we could also look at with all of those companies is the deal size and the raise that would be taken on. I mean, SpaceX, even private valuation that we've seen of all of those companies that were just listed on the screen, some of the largest that we have seen in history. And Arm included within that conversation, too.So it's right to bring up whether or not this is going to bring a windfall of deals. But in terms of where we sit right now in the IPO market and 2023 far kind of Poehling in comparison to two years prior. As we know, many companies rushed into-- they look for a good environment where there is less choppiness, less volatility. And that is not necessarily this environment right now.ALLIE GARFINKLE: No, it's not. You know, I've talked to some folks who believe that 2024, or early 2024, is when we're going to see some volume really return here, Brad. But you're right. It's a different environment. Money is more expensive. The environment is uncertain.It's not exactly the moment that if you're sitting there and you're Stripe, you're thinking, this is exactly the moment I was thinking I wanted to go public. It's the sort of thing where I think there would be a lot of excitement around, say a Stripe or an Instacart. Because if for nothing else, it's disclosure, right?We would see the business for the first time. In the case of Instacart, we would see how much of a business they really built during the pandemic. But for now, you're right. We're sort of just-- we're sort of in waiting, I would say.- And in the case of Arm, we already know about the business, right?ALLIE GARFINKLE: Yeah, because we know so much.- In part because it's part-- well, it used to be publicly traded. But also as part of SoftBank, which is a public company. We get disclosures about its earnings. So that's not part of this.ALLIE GARFINKLE: And Nvidia almost bought them for $40 billion.- Yep, and then got shut down. All right. Thanks, guys. Allie and Dan, appreciate it.

Yahoo Finance Video

Amazon reportedly in talks to become an anchor investor in Arm's IPO

https://finance.yahoo.com/video/amazon-reportedly-talks-become-anchor-135924486.html

28186d09-4176-3dc8-a8cb-8b2a9397b7d3

AAPL

Epic Games is facing a setback in its legal battle with Apple. The Supreme Court rules that Apple (AAPL) can keep its app store payment rules for now. Yahoo Finance Tech Editor Dan Howley joins the Live show to discuss the ongoing lawsuit and what this means for the future of Apple's app store rules.

Yahoo Finance Video

Supreme Court rules in Apple's favor in Epic Games appeal

https://finance.yahoo.com/video/supreme-court-rules-apples-favor-195542494.html

5398d426-f428-3c12-a452-58cb98519316

AAPL

As data has taken a backseat in driving markets, hype around AI and big tech has taken over. Is that a trend that will continue? Truist Chief Market Strategist Keith Lerner joins Yahoo Finance Live to discuss the tech sector, the outlook for tech, and what to watch with regard to earnings.Lerner sees Nvidia (NVDA) as the key to watch for the tech industry. Lerner said, "The big catalyst to be watching August 23 is Nvidia's earnings. That kicked off, like wow this AI is really potentially real for earnings. So they have a high bar to pass."Lerner added, "Nvidia is capturing the majority of that AI earnings boom right up front. Where do we see the follow through from others? ... Those earnings may not be coming through right away. It's going to be a longer term process."Video TranscriptJULIE HYMAN: As data has taken a back seat in driving market's, hype around artificial intelligence and big tech has taken over. Is that still going to keep going? It's been a tough month so far for two of the biggest names in tech-- Apple and Nvidia. Both stocks have pulled back. They're possibly heading into correction after posting massive gains in the months prior. Keith Lerner is still with us. Keith, tech is one of the sectors you like.KEITH LERNER: Mm-hmm.JULIE HYMAN: So presumably you're not so worried about the pullback in some of these large cap names, or how are you framing your thoughts around it?KEITH LERNER: Sure. So we upgraded tech in March. And the way we're thinking about tech is as you think about intermediate term if the economy does slow down somewhat. We still think some of these rate hikes are going to have an impact. I think it's been delayed that companies are going to continue to have to pay on tech spending regardless just to keep up with the competitors or they can be left behind. So I think tech is OK.I think the problem with tech, as we all know, it got top heavy. We had 40% gains in the tech sector. And I also think it needs a resting period. So I mean, short-term, after Apple's earnings last week, it feels a little bit heavy. So we just think it's also going to be consolidating here. I think the overall long-term outlook looks stronger. Technical trends have weakened here a little bit.Story continuesAnd I think that's the other challenge with the market. You asked earlier what's the catalyst to move this market much higher? You need tech to re-engage, right? Because tech communications discretionary are about 45% of the market. So if-- say what's going to move the market higher, you need that to re-engage.Maybe the big catalyst to be watching is, I think, August 23rd is Nvidia's earnings, right? That kicked off the-- you know, like wow, this AI is really potentially real in some ways for earnings, so they have a high bar to pass. But that's the other thing we'll be looking for. And in the interim, what we've been doing really since June, the average stock, the equal weighted index had underperformed the S&P on a three-month basis by the most we've seen in about 30 years.So what we've been doing is say, hey, S&P 500 is still fine. We still think there's modest upside. But pair that with something like the equal weighted index where you have not so top heavy, which are trading around the 15 multiple, has had a lot of underperformance and maybe a little bit mean reversion, and you're seeing over the last week or so financials acting a little bit better, energy acting a little bit better, and that should benefit something like the equal weight index.BRAD SMITH: I mean, there's a lot of a kind me show me narrative now that investors are applying, even with the AI narrative that had been driven and the hype phase that came in the previous earnings period. And so now in this one, it seems like there's a little bit more scrutiny around, OK, when is this actually going to trickle through to your bottom line for some of the tech companies?KEITH LERNER: Yeah, you're right. I mean, at the end of the day, I mean, the hype is there. But after 1/4, 2/4, 3/4, it's like, show me the money, right? Show me that in earnings.BRAD SMITH: And how much is going out as well.KEITH LERNER: And how much-- yeah, and I think we all agree it's revolutionary. And what you do, what I do is going to be supportive for a lot of-- it's going to be-- there's going to be a lot of great productivity gains. But how does that translate into earnings? And our tech analysts mentioned with Nvidia's-- Nvidia is capturing the majority of that AI earnings boom right up front where we see the follow through from others. So again, we think it's a positive. We think the valuations will stay somewhat higher than normal because of that expectations. But those earnings may not be coming through right away. It's going to be a longer term process.JULIE HYMAN: And you are keeping your overweight, just to be clear.KEITH LERNER: We're keeping our overweight. I mean, again, on a short-term basis, some of our tactical strategies we're keeping a close eye. But someone who has an intermediate time frame, let's say 12 months, we still think tech is just fine.JULIE HYMAN: And then another one you're overweight-- not as sexy-- industrials. What's the-- what's the thesis behind that?KEITH LERNER: I think industrials is very sexy, you know? I mean, it really benefits from a lot of, you know, secular themes. I mean, one, onshoring. We've seen a massive amount of spending back in CapEx here because of the onshoring. And then the other thing that's still underappreciated-- a lot of these stimulus bills, as far as the IRA, the CHIPS Act, there's so much kind of stimulus that's still in the pipeline that hasn't even gone through yet. And I think that the industrials will be a beneficiary of that not just this year, for several years.And then also, defense spending, right? We still have the strategic battle with China. So defense spending is on the ramp-up as well. So I just think it's a diversified area that benefits from some secular trends. And I really think that's long-term leadership. By the way, an interesting factoid is two sectors actually made a new all-time high over the last month or so, and that was tech and industrials. To me, that's a sign, especially with industrials, that's probably longer term leadership.BRAD SMITH: And one other area as well that you're focused in on, and we've heard even more calls around this recently-- small caps and the comparison here of US small cap, or global US small caps versus some of the large caps out there. Why is that?KEITH LERNER: We're staying with large caps. We've been overweight large caps. We're neutral small caps right now. And the way we think about it is this. Small caps are cheap. They're at a really cheap valuation relative to large caps. Valuation is not a catalyst though, right? So when we look out for some of our clients that are looking at 5 and 10 years, in our work, suggest small caps will outperform, you know, a higher probability.But on a short-term basis, I think some of the business cycle is working against them. And don't forget, a lot of these small companies, they're more affected by these higher interest rates, right? So they're not as diversified businesses. So again, you know, neutrals a longer term-- I'm sorry, a shorter term for folks that have a longer term outlook, we definitely think there's a part in a portfolio but we just don't expect near-term outperformance.JULIE HYMAN: And then one other area that sticks out to me is consumer discretionary that you guys are overweight. And this one's really interesting to me because there's some headwinds, it feels like, in consumer discretionary-- the student loan repayment coming back, there's been quite a big uptick in promotioning, at least when I think about retail and apparel specifically, although I know consumer discretionary is bigger than that. So [INAUDIBLE].KEITH LERNER: It's an interesting sector because we say the consumer discretionary and then you say, what's in there? It's actually a quasi-- I call it a quasi growth sector because your biggest holdings are Amazon and Tesla. So when you think about it, we kind of put that in the growth aspect, and those weightings in that index is so high.So it's not as straightforward as just saying, hey, if you think the consumer is going to slow down a little bit, why would you be positive on discretionary? So I think-- I think it has a mix. And some of those areas outside of those two big cap stocks, they've gotten beaten up pretty well. So again, I think overall, the-- and we just saw Amazon had a really strong report. Again, not recommending individual stocks, but it's helping that sector as a whole.BRAD SMITH: All right, a lot of sectors we've covered here today, and it sounds like we're going to fire up the hat machine. Make Industrial Sexy Again. Keith Lerner, thanks so much for being here.KEITH LERNER: It'll help me.BRAD SMITH: The Chief Market Strategist over at Truist. Thanks so much, Keith. Great to see you.KEITH LERNER: Good to be with you.

Yahoo Finance Video

Tech: Nvidia earnings 'big catalyst' to watch for investors

https://finance.yahoo.com/video/tech-nvidia-earnings-big-catalyst-133334080.html

648913ef-8a0e-3d0d-8579-057b212a404e

AAPL

Apple (AAPL) shares sink in August amid growth fears. The company is seeing a slowdown in the smart phone market, but will the presumed iPhone 15 release in September change that for Apple? Nvidia (NVDA) shares surged by over 200 percent year-to-date in 2023, leaving analysts skeptical over the stock's momentum.Yahoo Finance Tech Editor Dan Howley takes a look at how Apple stock is moving in August, as well as Nvidia's future as other companies begin to combine their own computer chips and tech products.Video Transcript- Well, Apple has seen a brutal August so far as growth fears scare off investors. But is a further correction still to come for the tech giant? Yahoo Finance's Dan Howley joins us now with the details. Hey, Dan.DAN HOWLEY: That's right, Rachelle. Investors are looking at Apple and the results from the previous quarter. The drop, continued drop, in overall revenue, as well as the poor performance of the iPhone position, that's basically the breadwinner for Apple. It's always going to be, at least as far as we've seen.Services did have a good quarter, but moving forward, now the question is-- Apple has admitted that there's a slowdown in the smartphone market, everybody knew that already, but now they're officially coming out and saying it. What does that mean then for this quarter as well as the next quarter, when we get the presumed iPhone 15? Is it going to be enough to start getting people interested in buying up smartphones again?And it's something that, I think, Apple is going to have to answer to once those phones are revealed in September. They're going to have to have decent features. You know, right now, it's basically the same rigmarole. New cameras, new processor, basically looks the same. So can Apple really push the envelope enough to get people back into stores, back online, and picking up their products?The same thing has to do-- is going on with the iPad and the Mac businesses. Those are both really suffering though. Those are kind of an industry wide trend where people bought their PCs or laptops, they bought their tablets during the pandemic, and now they just don't need them. And so we're seeing that from manufacturers to chip makers as well. So for Apple, it's going to come down to can they get people more interested in buying their smartphones come the announcement in September?Story continues- And a similar situation happening for NVIDIA. A superstar year to date, but what's been happening in August?DAN HOWLEY: Yeah, it's obviously the massive run up on NVIDIA throughout the year. And now the question is, can they keep that going? They had really bullish projections for the coming announcement that they're going to have from the prior quarter. And so I think people are wondering, are they going to be able to meet that, and then what comes next after that?NVIDIA, really, is kind of a singular company when it comes to the AI space. They produce chips that nobody else can. They've perfected this over years and years. They made the bet several years ago, and now it's really paying off for them. But what does that mean?I think the other question is, what happens when companies-- these kind of hyperscaler companies-- go out and begin putting their own chips into their own servers? We know that Microsoft is working on it, Google is working on it, Amazon's working on it, Tesla has their own supercomputer that they're building with their own chips. They already use NVIDIA as well and Elon Musk had said, look, we'll take as many as we can, as fast as NVIDIA can get them to us. But because there's kind of that roadblock, because they're competing with everyone else in the world, we're starting to see companies put out their own chips.So what does that mean then for NVIDIA in the long run as far as these hyperscalers go? And I'm not suggesting that they're going to be massive competition for NVIDIA. It's just potential roadblocks to those different individual businesses that would potentially buy up massive amounts of their server chips.- So something of a sobering effect going on here at the moment as people sort of take stock of some of the players going forward. Great stuff. Thank you for that update. Our very own Dan Howley.

Yahoo Finance Video

Apple and Nvidia: How the tech stocks are performing in August

https://finance.yahoo.com/video/apple-nvidia-tech-stocks-performing-162326938.html

23c8cd47-0e70-3e3f-a569-3f6402283781

AAPL

ChatGPT, OpenAI’s text-generating AI chatbot, has taken the world by storm. What started as a tool to hyper-charge productivity through writing essays and code with short text prompts has evolved into a behemoth used by more than 92% of Fortune 500 companies for more wide-ranging needs.While there is a more…nefarious side to ChatGPT, it’s clear that AI tools are not going away anytime soon. Since its initial launch nearly a year ago, ChatGPT has hit 100 million weekly active users, and OpenAI is heavily investing in it. What the company is not investing in further is the leadership of former CEO Sam Altman, after a weekend that presented and dispelled the possibility of his return following a sudden firing on November 17 upon the board releasing a statement they had lost confidence in Altman's ability to lead the company. OpenAI's chief technology officer Mira Murati initially filled in as interim CEO, but following a chaotic weekend, Twitch co-founder Emmett Shear has been given the interim CEO role.Prior to the leadership chaos, on November 6, OpenAI held its first developer conference: OpenAI DevDay. During the conference, it announced a slew of updates coming to GPT, including GPT-4 Turbo (super-charged versions of GPT-4, its latest language-writing model), a multimodal API and a GPT store where users can create and monetize their own custom versions of GPT.GPT-4, which can write more naturally and fluently than previous models, remains largely exclusive to paying ChatGPT users. But you can access GPT-4 for free through Microsoft’s Bing Chat in Microsoft Edge, Google Chrome and Safari web browsers. Beyond GPT-4 and OpenAI DevDay announcements, OpenAI recently connected ChatGPT to the internet for all users. And with the integration of DALL-E 3, users are also able to generate both text prompts and images right in ChatGPT. Here’s a timeline of ChatGPT product updates and releases, starting with the latest, which we’ve been updating throughout the year. And if you have any other questions, check out our ChatGPT FAQ here.Story continuesTimeline of the most recent ChatGPT updatesNovember 19Confirmation Sam Altman will not return as OpenAI's CEOA number of investors and OpenAI employees tried to bring back Altman after his sudden firing by the company's board, but following a weekend of negotiations, it was confirmed that Altman would not return to OpenAI and new leadership would take hold. What this means for ChatGPT's future, and for the OpenAI Dev Day announcements, remains to be seen.November 17Sam Altman ousted as OpenAI’s CEOSam Altman has been fired from OpenAI. He will leave the company’s board and step down as CEO, with OpenAI’s chief technology officer Mira Murati stepping in as interim CEO. In a blog post from OpenAI, the company writes that the board “no longer has confidence in [Altman’s] ability to continue leading OpenAI.”In a statement on X, Altman said working at OpenAI “was transformative” for him and “hopefully the world.”OpenAI explores how ChatGPT can be used in the classroomOpenAI COO Brad Lightcap revealed at a San Francisco conference that the company will likely create a team to identify ways AI and ChatGPT can be used in education. This announcement comes at a time when ChatGPT is being criticized by educators for encouraging cheating, resulting in bans in certain school districts.November 16OpenAI pauses new ChatGPT Plus subscriptions due to a "surge of usage"Following OpenAI’s Dev Day conference, Sam Altman announced the company is putting a pause on new subscriptions for its premium ChatGPT Plus offering. The temporary hold on sign-ups, as well as the demand for ChatGPT Plus’ new features like making custom GPTS, has led to a slew of resellers on eBay.ChatGPT gets flagged as potentially unsafe for kidsAn independent review from Common Sense Media, a nonprofit advocacy group, found that ChatGPT could potentially be harmful for younger users. ChatGPT got an overall three-star rating in the report, with its lowest ratings relating to transparency, privacy, trust and safety. November 9OpenAI blames DDoS attack for ChatGPT outageOpenAI confirmed that a DDoS attack was behind outages affecting ChatGPT and its developer tools. ChatGPT experienced sporadic outages for about 24 hours, resulting in users being unable to log into or use the service.November 6OpenAI debuts GPT-4 TurboOpenAI unveiled GPT-4 Turbo at its first-ever OpenAI DevDay conference. GPT-4 Turbo comes in two versions: one that’s strictly text-analyzing and another that understands the context of both text and images.GPT-4 gets a fine-tuningAs opposed to the fine-tuning program for GPT-3.5, the GPT-4 program will involve more oversight and guidance from OpenAI teams, the company says — largely due to technical hurdles.OpenAI’s GPT Store lets you build (and monetize) your own GPTUsers and developers will soon be able to make their own GPT, with no coding experience required. Anyone building their own GPT will also be able to list it on OpenAI’s marketplace and monetize it in the future.ChatGPT has 100 million weekly active usersAfter being released nearly a year ago, ChatGPT has 100 million weekly active users. OpenAI CEO Sam Altman also revealed that over two million developers use the platform, including more than 92% of Fortune 500 companies.OpenAI launches DALL-E 3 API, new text-to-speech modelsDALL-E 3, OpenAI’s text-to-image model, is now available via an API after first coming to ChatGPT-4 and Bing Chat. OpenAI’s newly released text-to-speech API, Audio API, offers six preset voices to choose from and two generative AI model variants.OpenAI promises to defend business customers against copyright claimsBowing to peer pressure, OpenAI it will pay legal costs incurred by customers who face lawsuits over IP claims against work generated by an OpenAI tool. The protections seemingly don’t extend to all OpenAI products, like the free and Plus tiers of ChatGPT.As OpenAI’s multimodal API launches broadly, research shows it’s still flawedOpenAI announced that GPT-4 with vision will become available alongside the upcoming launch of GPT-4 Turbo API. But some researchers found that the model remains flawed in several significant and problematic ways.OpenAI launches API, letting developers build ‘assistants’ into their appsAt its OpenAI DevDay, OpenAI announced the Assistants API to help developers build “agent-like experiences” within their apps. Use cases range from a natural language-based data analysis app to a coding assistant or even an AI-powered vacation planner.—October 30ChatGPT app revenue shows no signs of slowing, but it’s not #1OpenAI’s chatbot app far outpaces all others on mobile devices in terms of downloads, but it’s surprisingly not the top AI app by revenue. Several other AI chatbots, like “Chat & Ask AI” and “ChatOn — AI Chat Bot Assistant”, are actually making more money than ChatGPT.October 29ChatGPT tests the ability to upload and analyze files for Plus usersSubscribers to ChatGPT’s Enterprise Plan have reported new beta features, including the ability to upload PDFs to analyze and and ask questions about them directly. The new rollout also makes it so users no longer have to manually select a mode like DALL-E and browsing when using ChatGPT. Instead, users will automatically be switched to models based on the prompt.October 18ChatGPT officially gets web searchOpenAI has formally launched its internet-browsing feature to ChatGPT, some three weeks after re-introducing the feature in beta after several months in hiatus. The AI chatbot that has historically been limited to data up to September, 2021.October 18OpenAI integrates DALL-E 3 into ChatGPTThe integration means users don’t have to think so carefully about their text-prompts when asking DALL-E to create an image. Users will also now be able to receive images as part of their text-based queries without having to switch between apps.October 17Microsoft-affiliated research finds flaws in GPT-4A Microsoft-affiliated scientific paper looked at the “trustworthiness” — and toxicity — of LLMs, including GPT-4. Because GPT-4 is more likely to follow the instructions of “jailbreaking” prompts, the co-authors claim that GPT-4 can be more easily prompted than other LLMs to spout toxic, biased text.October 9ChatGPT’s mobile app hits record $4.58M in revenue in SeptemberOpenAI amassed 15.6 million downloads and nearly $4.6 million in gross revenue across its iOS and Android apps worldwide in September. But revenue growth has now begun to slow, according to new data from market intelligence firm Appfigures — dropping from 30% to 20% in September.September 27ChatGPT can now browse the internet (again)OpenAI posted on Twitter/X that ChatGPT can now browse the internet and is no longer limited to data before September 2021. The chatbot had a web browsing capability for Plus subscribers back in July, but the feature was taken away after users exploited it to get around paywalls.ChatGPT can now browse the internet to provide you with current and authoritative information, complete with direct links to sources. It is no longer limited to data before September 2021. pic.twitter.com/pyj8a9HWkB— OpenAI (@OpenAI) September 27, 2023https://platform.twitter.com/widgets.jsSeptember 25, 2023ChatGPT now has a voiceOpenAI announced that it's adding a new voice for verbal conversations and image-based smarts to the AI-powered chatbot.September 21, 2023Poland opens an investigation against OpenAIThe Polish authority publically announced it has opened an investigation regarding ChatGPT — accusing the company of a string of breaches of the EU's General Data Protection Regulation (GDPR).September 20, 2023OpenAI unveils DALL-E 3The upgraded text-to-image tool, DALL-E 3, uses ChatGPT to help fill in prompts. Subscribers to OpenAI’s premium ChatGPT plans, ChatGPT Plus and ChatGPT Enterprise, can type in a request for an image and hone it through conversations with the chatbot — receiving the results directly within the chat app.September 7, 2023Opera GX integrates ChatGPT-powered AIPowered by OpenAI’s ChatGPT, the AI browser Aria launched on Opera in May to give users an easier way to search, ask questions and write code. Today, the company announced it is bringing Aria to Opera GX, a version of the flagship Opera browser that is built for gamers.The new feature allows Opera GX users to interact directly with a browser AI to find the latest gaming news and tips.August 31, 2023OpenAI releases a guide for teachers using ChatGPT in the classroomOpenAI wants to rehabilitate the system’s image a bit when it comes to education, as ChatGPT has been controversial in the classroom due to plagiarism. OpenAI has offered up a selection of ways to put the chatbot to work in the classroom.August 28, 2023OpenAI launches ChatGPT EnterpriseChatGPT Enterprise can perform the same tasks as ChatGPT, such as writing emails, drafting essays and debugging computer code. However, the new offering also adds "enterprise-grade" privacy and data analysis capabilities on top of the vanilla ChatGPT, as well as enhanced performance and customization options.Survey finds relatively few American actually use ChatGPTRecent Pew polling suggests the language model isn’t quite as popular or threatening as some would have you think. Ongoing polling by Pew Research shows that although ChatGPT is gaining mindshare, only about 18% of Americans have ever actually used it.August 22, 2023OpenAI brings fine-tuning to GPT-3.5 TurboWith fine-tuning, companies using GPT-3.5 Turbo through the company's API can make the model better follow specific instructions. For example, having the model always respond in a given language. Or improving the model’s ability to consistently format responses, as well as hone the “feel” of the model’s output, like its tone, so that it better fits a brand or voice. Most notably, fine-tuning enables OpenAI customers to shorten text prompts to speed up API calls and cut costs.OpenAI is partnering with Scale AI to allow companies to fine-tune GPT-3.5. However, it is unclear whether OpenAI is developing an in-house tuning tool that is meant to complement platforms like Scale AI or serve a different purpose altogether.Fine-tuning costs:Training: $0.008 / 1K tokensUsage input: $0.012 / 1K tokensUsage output: $0.016 / 1K tokensAugust 16, 2023OpenAI acquires Global IlluminationIn OpenAI's first public acquisition in its seven-year history, the company announced it has acquired Global Illumination, a New York-based startup leveraging AI to build creative tools, infrastructure and digital experiences.“We’re very excited for the impact they’ll have here at OpenAI,” OpenAI wrote in a brief post published to its official blog. “The entire team has joined OpenAI to work on our core products including ChatGPT.”August 10, 2023The 'custom instructions' feature is extended to free ChatGPT usersOpenAI announced that it's expanding custom instructions to all users, including those on the free tier of service. The feature allows users to add various preferences and requirements that they want the AI chatbot to consider when responding.August 1, 2023China requires AI apps to obtain an administrative licenseMultiple generative AI apps have been removed from Apple's China App Store ahead of the country's latest generative AI regulations that are set to take effect August 15.“As you may know, the government has been tightening regulations associated with deep synthesis technologies (DST) and generative AI services, including ChatGPT. DST must fulfill permitting requirements to operate in China, including securing a license from the Ministry of Industry and Information Technology (MIIT),” Apple said in a letter to OpenCat, a native ChatGPT client. “Based on our review, your app is associated with ChatGPT, which does not have requisite permits to operate in China.”July 25, 2023ChatGPT for Android is now available in the US, India, Bangladesh and BrazilA few days after putting up a preorder page on Google Play, OpenAI has flipped the switch and released ChatGPT for Android. The app is now live in a handful of countries.July 21, 2023ChatGPT is coming to AndroidChatGPT is available to "pre-order" for Android users.The ChatGPT app on Android looks to be more or less identical to the iOS one in functionality, meaning it gets most if not all of the web-based version’s features. You should be able to sync your conversations and preferences across devices, too — so if you’re iPhone at home and Android at work, no worries.July 20, 2023OpenAI launches customized instructions for ChatGPTOpenAI launched custom instructions for ChatGPT users, so they don’t have to write the same instruction prompts to the chatbot every time they interact with it.The company said this feature lets you “share anything you’d like ChatGPT to consider in its response.” For example, a teacher can say they are teaching fourth-grade math or a developer can specify the code language they prefer when asking for suggestions. A person can also specify their family size, so the text-generating AI can give responses about meals, grocery and vacation planning accordingly.July 13, 2023The FTC is reportedly investigating OpenAIThe FTC is reportedly in at least the exploratory phase of investigation over whether OpenAI's flagship ChatGPT conversational AI made "false, misleading, disparaging or harmful" statements about people.TechCrunch Reporter Devin Coldewey reports:This kind of investigation doesn’t just appear out of thin air — the FTC doesn’t look around and say “That looks suspicious.” Generally a lawsuit or formal complaint is brought to their attention and the practices described by it imply that regulations are being ignored. For example, a person may sue a supplement company because the pills made them sick, and the FTC will launch an investigation on the back of that because there’s evidence the company lied about the side effects.July 6, 2023OpenAI announced the general availability of GPT-4Starting July 6, all existing OpenAI developers "with a history of successful payments" can access GPT-4. OpenAI plans to open up access to new developers by the end of July.In the future, OpenAI says that it’ll allow developers to fine-tune GPT-4 and GPT-3.5 Turbo, one of the original models powering ChatGPT, with their own data, as has long been possible with several of OpenAI’s other text-generating models. That capability should arrive later this year, according to OpenAI.June 28, 2023ChatGPT app can now search the web only on BingOpenAI announced that subscribers to ChatGPT Plus can now use a new feature on the app called Browsing, which allows ChatGPT to search Bing for answers to questions.The Browsing feature can be enabled by heading to the New Features section of the app settings, selecting “GPT-4” in the model switcher and choosing “Browse with Bing” from the drop-down list. Browsing is available on both the iOS and Android ChatGPT apps.June 15, 2023Mercedes is adding ChatGPT to its infotainment systemU.S. owners of Mercedes models that use MBUX will be able to opt into a beta program starting June 16 activating the ChatGPT functionality. This will enable the highly versatile large language model to augment the car’s conversation skills. You can join up simply by telling your car “Hey Mercedes, I want to join the beta program.”It's not really clear what for, though.June 8, 2023ChatGPT app is now available on iPad, adds support for Siri and ShortcutsThe new ChatGPT app version brings native iPad support to the app, as well as support for using the chatbot with Siri and Shortcuts. Drag and drop is also now available, allowing users to drag individual messages from ChatGPT into other apps.On iPad, ChatGPT now runs in full-screen mode, optimized for the tablet’s interface.May 30, 2023Texas judge orders all AI-generated content must be declared and checkedThe Texas federal judge has added a requirement that any attorney appearing in his court must attest that “no portion of the filing was drafted by generative artificial intelligence,” or if it was, that it was checked “by a human being.”May 26, 2023ChatGPT app expanded to more than 30 countriesThe list of new countries includes Algeria, Argentina, Azerbaijan, Bolivia, Brazil, Canada, Chile, Costa Rica, Ecuador, Estonia, Ghana, India, Iraq, Israel, Japan, Jordan, Kazakhstan, Kuwait, Lebanon, Lithuania, Mauritania, Mauritius, Mexico, Morocco, Namibia, Nauru, Oman, Pakistan, Peru, Poland, Qatar, Slovenia, Tunisia and the United Arab Emirates.May 25, 2023ChatGPT app is now available in 11 more countriesOpenAI announced in a tweet that the ChatGPT mobile app is now available on iOS in the U.S., Europe, South Korea and New Zealand, and soon more will be able to download the app from the app store. In just six days, the app topped 500,000 downloads.The ChatGPT app for iOS is now available to users in 11 more countries — Albania, Croatia, France, Germany, Ireland, Jamaica, Korea, New Zealand, Nicaragua, Nigeria, and the UK. More to come soon!— OpenAI (@OpenAI) May 24, 2023https://platform.twitter.com/widgets.jsMay 18, 2023OpenAI launches a ChatGPT app for iOSChatGPT is officially going mobile. The new ChatGPT app will be free to use, free from ads and will allow for voice input, the company says, but will initially be limited to U.S. users at launch.When using the mobile version of ChatGPT, the app will sync your history across devices — meaning it will know what you’ve previously searched for via its web interface, and make that accessible to you. The app is also integrated with Whisper, OpenAI’s open source speech recognition system, to allow for voice input.May 3, 2023Hackers are using ChatGPT lures to spread malware on FacebookMeta said in a report on May 3 that malware posing as ChatGPT was on the rise across its platforms. The company said that since March 2023, its security teams have uncovered 10 malware families using ChatGPT (and similar themes) to deliver malicious software to users’ devices.“In one case, we’ve seen threat actors create malicious browser extensions available in official web stores that claim to offer ChatGPT-based tools,” said Meta security engineers Duc H. Nguyen and Ryan Victory in a blog post. “They would then promote these malicious extensions on social media and through sponsored search results to trick people into downloading malware.”April 28, 2023ChatGPT parent company OpenAI closes $300M share sale at $27B-29B valuationVC firms including Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global are picking up new shares, according to documents seen by TechCrunch. A source tells us Founders Fund is also investing. Altogether the VCs have put in just over $300 million at a valuation of $27 billion to $29 billion. This is separate to a big investment from Microsoft announced earlier this year, a person familiar with the development told TechCrunch, which closed in January. The size of Microsoft’s investment is believed to be around $10 billion, a figure we confirmed with our source.April 25, 2023OpenAI previews new subscription tier, ChatGPT BusinessCalled ChatGPT Business, OpenAI describes the forthcoming offering as “for professionals who need more control over their data as well as enterprises seeking to manage their end users.”“ChatGPT Business will follow our API’s data usage policies, which means that end users’ data won’t be used to train our models by default,” OpenAI wrote in a blog post. “We plan to make ChatGPT Business available in the coming months.”April 24, 2023OpenAI wants to trademark "GPT"OpenAI applied for a trademark for “GPT,” which stands for “Generative Pre-trained Transformer,” last December. Last month, the company petitioned the USPTO to speed up the process, citing the “myriad infringements and counterfeit apps” beginning to spring into existence.Unfortunately for OpenAI, its petition was dismissed last week. According to the agency, OpenAI’s attorneys neglected to pay an associated fee as well as provide “appropriate documentary evidence supporting the justification of special action.”That means a decision could take up to five more months.April 22, 2023Auto-GPT is Silicon Valley's latest quest to automate everythingAuto-GPT is an open-source app created by game developer Toran Bruce Richards that uses OpenAI's latest text-generating models, GPT-3.5 and GPT-4, to interact with software and services online, allowing it to "autonomously" perform tasks.Depending on what objective the tool’s provided, Auto-GPT can behave in very… unexpected ways. One Reddit user claims that, given a budget of $100 to spend within a server instance, Auto-GPT made a wiki page on cats, exploited a flaw in the instance to gain admin-level access and took over the Python environment in which it was running — and then “killed” itself.April 18, 2023FTC warns that AI technology like ChatGPT could 'turbocharge' fraudFTC chair Lina Khan and fellow commissioners warned House representatives of the potential for modern AI technologies, like ChatGPT, to be used to “turbocharge” fraud in a congressional hearing.“AI presents a whole set of opportunities, but also presents a whole set of risks,” Khan told the House representatives. “And I think we’ve already seen ways in which it could be used to turbocharge fraud and scams. We’ve been putting market participants on notice that instances in which AI tools are effectively being designed to deceive people can place them on the hook for FTC action,” she stated.April 17, 2023Superchat's new AI chatbot lets you message historical and fictional characters via ChatGPTThe company behind the popular iPhone customization app Brass, sticker maker StickerHub and others is out today with a new AI chat app called SuperChat, which allows iOS users to chat with virtual characters powered by OpenAI’s ChatGPT. However, what makes the app different from the default experience or the dozens of generic AI chat apps now available are the characters offered which you can use to engage with SuperChat’s AI features.April 12, 2023Italy gives OpenAI to-do list for lifting ChatGPT suspension orderItaly’s data protection watchdog has laid out what OpenAI needs to do for it to lift an order against ChatGPT issued at the end of last month — when it said it suspected the AI chatbot service was in breach of the EU’s GSPR and ordered the U.S.-based company to stop processing locals’ data.The DPA has given OpenAI a deadline — of April 30 — to get the regulator's compliance demands done. (The local radio, TV and internet awareness campaign has a slightly more generous timeline of May 15 to be actioned.)April 12, 2023Researchers discover a way to make ChatGPT consistently toxicA study co-authored by scientists at the Allen Institute for AI shows that assigning ChatGPT a “persona” — for example, “a bad person,” “a horrible person” or “a nasty person” — through the ChatGPT API increases its toxicity sixfold. Even more concerning, the co-authors found having the conversational AI chatbot pose as certain historical figures, gendered people and members of political parties also increased its toxicity — with journalists, men and Republicans in particular causing the machine learning model to say more offensive things than it normally would.The research was conducted using the latest version, but not the model currently in preview based on OpenAI’s GPT-4.April 4, 2023Y Combinator-backed startups are trying to build 'ChatGPT for X'YC Demo Day's Winter 2023 batch features no fewer than four startups that claim to be building "ChatGPT for X." They’re all chasing after a customer service software market that’ll be worth $58.1 billion by 2023, assuming the rather optimistic prediction from Acumen Research comes true.Here are the YC-backed startups that caught our eye:Yuma, whose customer demographic is primarily Shopify merchants, provides ChatGPT-like AI systems that integrate with help desk software, suggesting drafts of replies to customer tickets.Baselit, which uses one of OpenAI's text-understanding models to allow businesses to embed chatbot-style analytics for their customers.Lasso customers send descriptions or videos of the processes they'd like to automate and the company combines ChatGPT-like interface with robotic process automation (RPA) and a Chrome extension to build out those automations.BerriAI, whose platform is designed to help developers spin up ChatGPT apps for their organization data through various data connectors.April 1, 2023Italy orders ChatGPT to be blockedOpenAI has started geoblocking access to its generative AI chatbot, ChatGPT, in Italy.Italy’s data protection authority has just put out a timely reminder that some countries do have laws that already apply to cutting edge AI: it has ordered OpenAI to stop processing people’s data locally with immediate effect. The Italian DPA said it’s concerned that the ChatGPT maker is breaching the European Union’s General Data Protection Regulation (GDPR), and is opening an investigation.March 29, 20231,100+ signatories signed an open letter asking all 'AI labs to immediately pause for 6 months'The letter's signatories include Elon Musk, Steve Wozniak and Tristan Harris of the Center for Humane Technology, among others. The letter calls on “all AI labs to immediately pause for at least 6 months the training of AI systems more powerful than GPT-4.”The letter reads:Contemporary AI systems are now becoming human-competitive at general tasks,[3] and we must ask ourselves: Should we let machines flood our information channels with propaganda and untruth? Should we automate away all the jobs, including the fulfilling ones? Should we develop nonhuman minds that might eventually outnumber, outsmart, obsolete and replace us? Should we risk loss of control of our civilization? Such decisions must not be delegated to unelected tech leaders. Powerful AI systems should be developed only once we are confident that their effects will be positive and their risks will be manageable.March 23, 2023OpenAI connects ChatGPT to the internetOpenAI launched plugins for ChatGPT, extending the bot's functionality by granting it access to third-party knowledge sources and databases, including the web. Available in alpha to ChatGPT users and developers on the waitlist, OpenAI says that it’ll initially prioritize a small number of developers and subscribers to its premium ChatGPT Plus plan before rolling out larger-scale and API access.March 14, 2023OpenAI launches GPT-4, available through ChatGPT PlusGPT-4 is a powerful image- and text-understanding AI model from OpenAI. Released March 14, GPT-4 is available for paying ChatGPT Plus users and through a public API. Developers can sign up on a waitlist to access the API.March 9, 2023ChatGPT is available in Azure OpenAI serviceChatGPT is generally available through the Azure OpenAI Service, Microsoft’s fully managed, corporate-focused offering. Customers, who must already be “Microsoft managed customers and partners,” can apply here for special access.March 1, 2023OpenAI launches an API for ChatGPTOpenAI makes another move toward monetization by launching a paid API for ChatGPT. Instacart, Snap (Snapchat’s parent company) and Quizlet are among its initial customers.February 7, 2023Microsoft launches the new Bing, with ChatGPT built inAt a press event in Redmond, Washington, Microsoft announced its long-rumored integration of OpenAI’s GPT-4 model into Bing, providing a ChatGPT-like experience within the search engine. The announcement spurred a 10x increase in new downloads for Bing globally, indicating a sizable consumer demand for new AI experiences.Other companies beyond Microsoft joined in on the AI craze by implementing ChatGPT, including OkCupid, Kaito, Snapchat and Discord -- putting the pressure on Big Tech’s AI initiatives, like Google.February 1, 2023OpenAI launches ChatGPT Plus, starting at $20 per monthAfter ChatGPT took the internet by storm, OpenAI launched a new pilot subscription plan for ChatGPT called ChatGPT Plus, aiming to monetize the technology starting at $20 per month.December 8, 2022ShareGPT lets you easily share your ChatGPT conversationsA week after ChatGPT was released into the wild, two developers -- Steven Tey and Dom Eccleston -- made a Chrome extension called ShareGPT to make it easier to capture and share the AI’s answers with the world.November 30, 2022ChatGPT first launched to the public as OpenAI quietly released GPT-3.5GPT-3.5 broke cover with ChatGPT, a fine-tuned version of GPT-3.5 that’s essentially a general-purpose chatbot. ChatGPT can engage with a range of topics, including programming, TV scripts and scientific concepts.Writers everywhere rolled their eyes at the new technology, much like artists did with OpenAI’s DALL-E model, but the latest chat-style iteration seemingly broadened its appeal and audience.FAQs:What is ChatGPT? How does it work?ChatGPT is a general-purpose chatbot that uses artificial intelligence to generate text after a user enters a prompt, developed by tech startup OpenAI. The chatbot uses GPT-4, a large language model that uses deep learning to produce human-like text.When did ChatGPT get released?November 30, 2022 is when ChatGPT was released for public use.What is the latest version of ChatGPT?Both the free version of ChatGPT and the paid ChatGPT Plus are regularly updated with new GPT models. The most recent model is GPT-4.Can I use ChatGPT for free?There is a free version of ChatGPT that only requires a sign-in in addition to the paid version, ChatGPT Plus.Who uses ChatGPT?Anyone can use ChatGPT! More and more tech companies and search engines are utilizing the chatbot to automate text or quickly answer user questions/concerns.What companies use ChatGPT?Multiple enterprises utilize ChatGPT, although others may limit the use of the AI-powered tool.Most recently, Microsoft announced at it's 2023 Build conference that it is integrating it ChatGPT-based Bing experience into Windows 11. A Brooklyn-based 3D display startup Looking Glass utilizes ChatGPT to produce holograms you can communicate with by using ChatGPT. And nonprofit organization Solana officially integrated the chatbot into its network with a ChatGPT plug-in geared toward end users to help onboard into the web3 space.What does GPT mean in ChatGPT?GPT stands for Generative Pre-Trained Transformer.What's the difference between ChatGPT and Bard?Much like OpenAI's ChatGPT, Bard is a chatbot that will answer questions in natural language. Google announced at its 2023 I/O event that it will soon be adding multimodal content to Bard, meaning that it can deliver answers in more than just text, responses can give you rich visuals as well. Rich visuals mean pictures for now, but later can include maps, charts and other items.ChatGPT's generative AI has had a longer lifespan and thus has been "learning" for a longer period of time than Bard.What is the difference between ChatGPT and a chatbot?A chatbot can be any software/system that holds dialogue with you/a person but doesn't necessarily have to be AI-powered. For example, there are chatbots that are rules-based in the sense that they'll give canned responses to questions.ChatGPT is AI-powered and utilizes LLM technology to generate text after a prompt.Can ChatGPT write essays?Yes.Can ChatGPT commit libel?Due to the nature of how these models work, they don’t know or care whether something is true, only that it looks true. That’s a problem when you’re using it to do your homework, sure, but when it accuses you of a crime you didn’t commit, that may well at this point be libel.We will see how handling troubling statements produced by ChatGPT will play out over the next few months as tech and legal experts attempt to tackle the fastest moving target in the industry.Does ChatGPT have an app?Yes, there is now a free ChatGPT app that is currently limited to U.S. iOS users at launch. OpenAi says an android version is "coming soon."What is the ChatGPT character limit?It’s not documented anywhere that ChatGPT has a character limit. However, users have noted that there are some character limitations after around 500 words.Does ChatGPT have an API?Yes, it was released March 1, 2023.What are some sample everyday uses for ChatGPT?Everyday examples include programing, scripts, email replies, listicles, blog ideas, summarization, etc.What are some advanced uses for ChatGPT?Advanced use examples include debugging code, programming languages, scientific concepts, complex problem solving, etc.How good is ChatGPT at writing code?It depends on the nature of the program. While ChatGPT can write workable Python code, it can’t necessarily program an entire app’s worth of code. That’s because ChatGPT lacks context awareness -- in other words, the generated code isn’t always appropriate for the specific context in which it’s being used.Can you save a ChatGPT chat?Yes. OpenAI allows users to save chats in the ChatGPT interface, stored in the sidebar of the screen. There are no built-in sharing features yet.Are there alternatives to ChatGPT?Yes. There are multiple AI-powered chatbot competitors such as Together, Google’s Bard and Anthropic’s Claude, and developers are creating open source alternatives. But the latter are harder -- if not impossible -- to run today.The Google-owned research lab DeepMind claimed that its next LLM, will rival, or even best, OpenAI's ChatGPT. DeepMind is using techniques from AlphaGo, DeepMind’s AI system that was the first to defeat a professional human player at the board game Go, to make a ChatGPT-rivaling chatbot called Gemini.Apple is developing AI tools to challenge OpenAI, Google and others. The tech giant created a chatbot that some engineers are internally referring to as "Apple GPT," but Apple has yet to determine a strategy for releasing the AI to consumers.How does ChatGPT handle data privacy?OpenAI has said that individuals in “certain jurisdictions” (such as the EU) can object to the processing of their personal information by its AI models by filling out this form. This includes the ability to make requests for deletion of AI-generated references about you. Although OpenAI notes it may not grant every request since it must balance privacy requests against freedom of expression “in accordance with applicable laws”.The web form for making a deletion of data about you request is entitled “OpenAI Personal Data Removal Request”.In its privacy policy, the ChatGPT maker makes a passing acknowledgement of the objection requirements attached to relying on "legitimate interest" (LI), pointing users towards more information about requesting an opt out — when it writes: “See here for instructions on how you can opt out of our use of your information to train our models.”What controversies have surrounded ChatGPT?Recently, Discord announced that it had integrated OpenAI's technology into its bot named Clyde where two users tricked Clyde into providing them with instructions for making the illegal drug methamphetamine (meth) and the incendiary mixture napalm.An Australian mayor has publicly announced he may sue OpenAI for defamation due to ChatGPT's false claims that he had served time in prison for bribery. This would be the first defamation lawsuit against the text-generating service.CNET found itself in the midst of controversy after Futurism reported the publication was publishing articles under a mysterious byline completely generated by AI. The private equity company that owns CNET, Red Ventures, was accused of using ChatGPT for SEO farming, even if the information was incorrect.Several major school systems and colleges, including New York City Public Schools, have banned ChatGPT from their networks and devices. They claim that the AI impedes the learning process by promoting plagiarism and misinformation, a claim that not every educator agrees with.There have also been cases of ChatGPT accusing individuals of false crimes.Where can I find examples of ChatGPT prompts?Several marketplaces host and provide ChatGPT prompts, either for free or for a nominal fee. One is PromptBase. Another is ChatX. More launch every day.Can ChatGPT be detected?Poorly. Several tools claim to detect ChatGPT-generated text, but in our tests, they’re inconsistent at best.Are ChatGPT chats public?No. But OpenAI recently disclosed a bug, since fixed, that exposed the titles of some users’ conversations to other people on the service.Who owns the copyright on ChatGPT-created content or media?The user who requested the input from ChatGPT is the copyright owner.What lawsuits are there surrounding ChatGPT?None specifically targeting ChatGPT. But OpenAI is involved in at least one lawsuit that has implications for AI systems trained on publicly available data, which would touch on ChatGPT.Are there issues regarding plagiarism with ChatGPT?Yes. Text-generating AI models like ChatGPT have a tendency to regurgitate content from their training data.This article originally appeared on TechCrunch at https://techcrunch.com/2023/11/19/chatgpt-everything-to-know-about-the-ai-chatbot/

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ChatGPT: Everything you need to know about the AI-powered chatbot

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aa382e73-42e4-3552-ab3e-b38e8088ad2b

AAPL

(Bloomberg) -- Epic Games Inc. Chief Executive Officer Tim Sweeney testified that Google’s Android operating system is a “fake open platform” in a high-stakes antitrust lawsuit over claims that the technology giant thwarts app market competition.Most Read from BloombergThe Doomed Mission Behind Sam Altman’s Shock Ouster From OpenAIMicrosoft Ends Weekend of OpenAI Drama With Coup of Its OwnCitigroup Cuts Over 300 Senior Manager Roles in Latest RestructuringNearly All of OpenAI Staff Threaten to Go to Microsoft If Board Doesn’t QuitTech Giants Roar as Nasdaq 100 Hits 22-Month High: Markets WrapSweeney, who founded the company that makes the blockbuster Fortnite, took the witness stand Monday in San Francisco federal court to reinforce his claims that Google Play policies are unlawful and allow Alphabet Inc. to maintain a monopoly in the Android mobile-app distribution market.The court fight started in 2020 when Epic marketed Fortnite on Android and sidestepped the Google Play billing system and the 30% revenue cut it was taking from app developers.“We very much wanted to avoid that and do business directly with our customers,” Sweeney told jurors.Jury TrialGoogle denies abusing its market power. The jury trial started two weeks ago and is expected to wrap up in early December. If Epic prevails, Google could be forced to allow competing app marketplaces and payment methods on its app store, threatening billions of dollars in revenue generated by Google Play.Sweeney previously testified in a 2021 trial in a similar antitrust targeting Apple Inc.’s App Store policies as unfair and self-serving. Epic mostly lost that fight, which was decided by a federal judge in Oakland, California, after a trial. An appeals court upheld the judge’s ruling and Epic is now asking the US Supreme Court to review it.The Epic CEO testified that Google tried to cut a deal with his company that he rejected and went on to strike “secret” accords with mobile device makers to maintain Google Play as the dominant Android app marketplace.Story continuesSweeney said in 2018 he believed Android wasn’t closed to developers, but subsequently realized Google’s operating system was a “fake open platform” that was actually just as closed as he found Apple’s App Store to be in terms of policies for developers.Tencent HoldingsEpic made $5.1 billion in revenue in 2020, Sweeney revealed when he testified in the Apple case. He founded Cary, North Carolina-based Epic in 1991, when he was still a student at the University of Maryland. It has since grown into one of the world’s biggest closely held video-game companies, with Sweeney as the majority shareholder and China’s Tencent Holdings Ltd. controlling a 40% stake.Sweeney, whose net worth is estimated at $9.7 billion, is a long-time advocate of open software ecosystems. He’s also known for his love for hiking and conservation efforts, including purchasing land to be turned into public parks.Since the 2017 release of the “battle royale” game Fortnite, Epic has become a household name among video-game enthusiasts and the game has more than 400 million users. The company also offers a popular suite of software used to build video games called Unreal Engine.Read more: ‘Fortnite’ Maker Epic Games Is Cutting About 16% of StaffThe company fired 870 employees in September as it sought to rein in costs, amid layoffs across the broader technology industry, Bloomberg reported.Most Read from Bloomberg BusinessweekMore Americans on Ozempic Means Smaller Plates at ThanksgivingThe Share of Americans Who Are Mortgage-Free Is at an All-Time HighInflation Raging in Triple Digits Is Pushing Argentina Down a Radical PathThe Impact and Cost of Musk’s Endorsement of Antisemitism on XAt REI, a Progressive Company Warns That Unionization Is Bad for Vibes©2023 Bloomberg L.P.

Bloomberg

Epic Games’ Sweeney Takes Aim at Android’s ‘Fake Open Platform’

https://finance.yahoo.com/news/epic-games-sweeney-takes-aim-221444223.html

f40eef8f-cfbd-393a-850d-1f7628cc6b57

ABBV

–  The co-primary endpoints of endoscopic response (visible reduction of intestinal lining damage) and clinical remission were achieved by significantly more patients treated with RINVOQ (upadacitinib) at week 12 and week 52 versus placebo1–  Clinical response was achieved by significantly more patients treated with RINVOQ (upadacitinib) versus placebo as early as week 2 in induction studies1–  This indication marks the seventh FDA approval for RINVOQ across gastroenterology, rheumatology and dermatology1NORTH CHICAGO, Ill., May 18, 2023 /PRNewswire/ -- AbbVie (NYSE: ABBV) today announced that the U.S. Food and Drug Administration (FDA) has approved RINVOQ® (upadacitinib) for the treatment of adults with moderately to severely active Crohn's disease who have had an inadequate response or intolerance to one or more TNF blockers.1 This is the seventh FDA approval for RINVOQ across rheumatology, dermatology, and gastroenterology, where it is now indicated in both ulcerative colitis and Crohn's disease.1Access the multimedia news release here: https://www.multivu.com/players/English/9145751-abbvie-fda-crohns-disease/"AbbVie recognizes the need for more treatment options for Crohn's disease that can help address both rapid relief of symptoms along with the visible reduction of intestinal lining damage," said Thomas Hudson, M.D., senior vice president of research and development, chief scientific officer, AbbVie. "We're pleased that RINVOQ may provide this relief and is now available to treat Crohn's disease."Endoscopic Response and Clinical RemissionThe approval is supported by data from two induction studies, U-EXCEED and U-EXCEL, and the U-ENDURE maintenance study.1 Statistical significance was achieved for the co-primary endpoints and key secondary endpoints with RINVOQ 45 mg in the induction studies and RINVOQ 15 mg and 30 mg in the maintenance study compared to placebo.Story continuesEndoscopic response: In the two induction studies, 34% and 46% of patients treated with RINVOQ 45 mg achieved endoscopic response (defined as a decrease of greater than 50% from the baseline Simplified Endoscopic Score for CD [SES-CD] or for patients with isolated ileal disease and a baseline SES-CD of 4, at least a 2-point reduction from baseline) at week 12, respectively, compared to 3% and 13% of patients receiving placebo.1 In the maintenance study, 28% and 41% of patients treated with RINVOQ 15 mg and 30 mg achieved endoscopic response at week 52, respectively, compared to 7% of patients receiving placebo.Clinical remission: In the two induction studies, 36% and 46% of patients treated with RINVOQ 45 mg achieved clinical remission (defined as a Crohn's Disease Activity Index [CDAI] of less than 150) at 12 weeks, respectively, compared to 18% and 23% of patients receiving placebo. Additionally, in the maintenance trial, 42% and 55% of patients treated with RINVOQ 15 mg and 30 mg achieved clinical remission at 52 weeks, respectively, compared to 14% of patients receiving placebo.1"Symptoms of moderately to severely active Crohn's disease can be disruptive and uncomfortable for patients, so relief as early as possible is key. Given the progressive nature of the disease, endoscopic response is just as important," said Edward V. Loftus, Jr., M.D., professor of medicine in the division of gastroenterology and hepatology at Mayo Clinic in Rochester, Minnesota and U-EXCEL study investigator.* "Based on the clinical trial results, treatment with RINVOQ shows both early and long-term symptom relief along with evidence of a visible reduction of damage to the intestinal lining caused by excess inflammation.""I started feeling better within a couple weeks. My symptoms lessened – less cramping, firmer stools, and the bleeding stopped. When I stopped bleeding, I had more energy," said Danielle, who is living with Crohn's disease and received RINVOQ in an open-label treatment arm in one of the clinical trials.Rapid Clinical Response and Corticosteroid-free Clinical Remission1  Onset of clinical response based on CDAI was observed as early as two weeks in U-EXCEED and U-EXCEL, with a greater proportion of patients achieving clinical response at week 2 in RINVOQ-treated patients compared with placebo.1This is the first clinical program of an approved moderate-to-severe Crohn's disease treatment to require steroid taper during the induction period, with a corticosteroid taper regimen initiated at week 4. Corticosteroid-free clinical remission (defined as discontinuation of steroid and achievement of clinical remission per CDAI [CDAI less than 150]) among patients on steroid at baseline was achieved at week 12 by more patients treated with RINVOQ in U-EXCEED and U-EXCEL (30% and 40%, respectively) compared to placebo (11% and 13%, respectively). In U-ENDURE, corticosteroid-free remission (defined as no corticosteroids for 90 days prior to week 52 and achievement of clinical remission) was achieved by more patients treated with RINVOQ 15 mg and 30 mg (42% and 53%, respectively) compared to 14% with placebo.RINVOQ Safety Considerations1Overall, the safety profile observed in patients with Crohn's disease treated with RINVOQ was consistent with the known safety profile for RINVOQ in other indications.RINVOQ may cause serious side effects, including:For more information about RINVOQ, visit RINVOQ.com.Patient Access & SupportAbbVie is committed to helping people access RINVOQ and other medicines, including offering a patient support program and a co-pay card that may reduce out-of-pocket costs to $5 per month for eligible, commercially insured patients. For those with limited or no health insurance, AbbVie offers myAbbVie Assist, a patient assistance program that provides RINVOQ at no charge to those who qualify. For more details, please visit AbbVie.com/myAbbVieAssist.About Crohn's DiseaseCrohn's disease is a chronic, systemic disease that manifests as inflammation within the gastrointestinal (or digestive) tract, causing persistent diarrhea and abdominal pain.2-4 It is a progressive disease, meaning it gets worse over time, and in many cases leads to surgery.3,4 Because the signs and symptoms of Crohn's disease are unpredictable, it causes a significant burden on people living with the disease.5About the U-EXCEED and U-EXCEL Induction and the U-ENDURE Maintenance Studies1,6-8The three Phase 3 studies are multicenter, randomized, double-blind, placebo-controlled studies to evaluate the efficacy and safety of RINVOQ 45 mg as induction therapy and RINVOQ 15 mg and 30 mg as maintenance therapy in patients with moderately to severely active Crohn's disease. Topline results of the U-EXCEED and U-EXCEL induction studies were announced in December 2021 and February 2022. Topline results of the U-ENDURE maintenance study were announced in May 2022. More information can be found on https://clinicaltrials.gov (U-EXCEED: NCT03345836, U-EXCEL: NCT03345849, U-ENDURE: NCT03345823).*Dr. Loftus is a consultant and advisor for AbbVie.About RINVOQ® (upadacitinib)Discovered and developed by AbbVie scientists, RINVOQ is a selective JAK inhibitor that is being studied in several immune-mediated inflammatory diseases. Based on enzymatic and cellular assays, RINVOQ demonstrated greater inhibitory potency for JAK-1 vs JAK-2, JAK-3, and TYK-2.1 The relevance of inhibition of specific JAK enzymes to therapeutic effectiveness and safety is not currently known.Phase 3 trials of RINVOQ in rheumatoid arthritis, atopic dermatitis, psoriatic arthritis, axial spondyloarthritis, Crohn's disease, ulcerative colitis, giant cell arteritis, and Takayasu arteritis are ongoing.9-17RINVOQ (upadacitinib) U.S. Uses and Important Safety Information1RINVOQ is a prescription medicine used to treat:Adults with moderate to severe rheumatoid arthritis (RA) when 1 or more medicines called tumor necrosis factor (TNF) blockers have been used, and did not work well or could not be tolerated.Adults with active psoriatic arthritis (PsA) when 1 or more medicines called TNF blockers have been used, and did not work well or could not be tolerated.Adults with active ankylosing spondylitis (AS) when 1 or more medicines called TNF blockers have been used, and did not work well or could not be tolerated.Adults with active non-radiographic axial spondyloarthritis (nr-axSpA) with objective signs of inflammation when a TNF blocker medicine has been used, and did not work well or could not be tolerated.Adults with moderate to severe ulcerative colitis (UC) when 1 or more medicines called TNF blockers have been used, and did not work well or could not be tolerated.Adults with moderate to severe Crohn's disease (CD) when 1 or more medicines called TNF blockers have been used, and did not work well or could not be tolerated.It is not known if RINVOQ is safe and effective in children with juvenile idiopathic arthritis, psoriatic arthritis, ankylosing spondylitis, non-radiographic axial spondyloarthritis, ulcerative colitis, or Crohn's disease.Adults and children 12 years of age and older with moderate to severe eczema (atopic dermatitis [AD]) that did not respond to previous treatment and their eczema is not well controlled with other pills or injections, including biologic medicines, or the use of other pills or injections is not recommended.RINVOQ is safe and effective in children 12 years of age and older weighing at least 88 pounds (40 kg) with atopic dermatitis.It is not known if RINVOQ is safe and effective in children under 12 years of age with atopic dermatitis.What is the most important information I should know about RINVOQ?RINVOQ may cause serious side effects, including:Serious infections. RINVOQ can lower your ability to fight infections. Serious infections have happened while taking RINVOQ, including tuberculosis (TB) and infections caused by bacteria, fungi, or viruses that can spread throughout the body. Some people have died from these infections. Your healthcare provider (HCP) should test you for TB before starting RINVOQ and check you closely for signs and symptoms of TB during treatment with RINVOQ. You should not start taking RINVOQ if you have any kind of infection unless your HCP tells you it is okay. If you get a serious infection, your HCP may stop your treatment until your infection is controlled. You may be at higher risk of developing shingles (herpes zoster).Increased risk of death in people 50 years and older who have at least 1 heart disease (cardiovascular) risk factor.Cancer and immune system problems. RINVOQ may increase your risk of certain cancers. Lymphoma and other cancers, including skin cancers, can happen. Current or past smokers are at higher risk of certain cancers, including lymphoma and lung cancer. Follow your HCP's advice about having your skin checked for skin cancer during treatment with RINVOQ. Limit the amount of time you spend in sunlight. Wear protective clothing when you are in the sun and use sunscreen.Increased risk of major cardiovascular (CV) events, such as heart attack, stroke, or death, in people 50 years and older who have at least 1 heart disease (CV) risk factor, especially if you are a current or past smoker.Blood clots: Blood clots in the veins of the legs or lungs and arteries can happen with RINVOQ. This may be life-threatening and cause death. Blood clots in the veins of the legs and lungs have happened more often in people who are 50 years and older and with at least 1 heart disease (CV) risk factor.Allergic reactions. Symptoms such as rash (hives), trouble breathing, feeling faint or dizzy, or swelling of your lips, tongue, or throat, that may mean you are having an allergic reaction have been seen in people taking RINVOQ. Some of these reactions were serious. If any of these symptoms occur during treatment with RINVOQ, stop taking RINVOQ and get emergency medical help right away.Tears in the stomach or intestines. This happens most often in people who take nonsteroidal anti-inflammatory drugs (NSAIDs) or corticosteroids. Get medical help right away if you get stomach-area pain, fever, chills, nausea, or vomiting.Changes in certain laboratory tests. Your HCP should do blood tests before you start taking RINVOQ and while you take it. Your HCP may stop your RINVOQ treatment for a period of time if needed because of changes in these blood test results.Do not take RINVOQ if you are allergic to upadacitinib or any of the ingredients in RINVOQ. See the Medication Guide or Consumer Brief Summary for a complete list of ingredients.What should I tell my HCP BEFORE starting RINVOQ?Tell your HCP if you:Are being treated for an infection, have an infection that won't go away or keeps coming back, or have symptoms of an infection such as:Have TB or have been in close contact with someone with TB.Are a current or past smoker.Have had a heart attack, other heart problems, or stroke.Have had any type of cancer, hepatitis B or C, shingles (herpes zoster), blood clots in the veins of your legs or lungs, diverticulitis (inflammation in parts of the large intestine), or ulcers in your stomach or intestines.Have other medical conditions including liver problems, low red or white blood cell counts, diabetes, chronic lung disease, HIV, or a weak immune system.Live, have lived, or have traveled to parts of the country, such as the Ohio and Mississippi River valleys and the Southwest, that increase your risk of getting certain kinds of fungal infections. If you are unsure if you've been to these types of areas, ask your HCP.Have recently received or are scheduled to receive a vaccine. People who take RINVOQ should not receive live vaccines.Are pregnant or plan to become pregnant. Based on findings in animal studies, RINVOQ may harm your unborn baby. Your HCP will check whether or not you are pregnant before you start RINVOQ. You should use effective birth control (contraception) to avoid becoming pregnant during treatment with RINVOQ and for 4 weeks after your last dose.There is a pregnancy surveillance program for RINVOQ. The purpose of the program is to collect information about the health of you and your baby. If you become pregnant while taking RINVOQ, you are encouraged to report the pregnancy by calling 1-800-633-9110.Are breastfeeding or plan to breastfeed. RINVOQ may pass into your breast milk. Do not breastfeed during treatment with RINVOQ and for 6 days after your last dose.Tell your HCP about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements. RINVOQ and other medicines may affect each other, causing side effects.Especially tell your HCP if you take:Medicines for fungal or bacterial infectionsRifampicin or phenytoinMedicines that affect your immune systemIf you are not sure if you are taking any of these medicines, ask your HCP or pharmacist.What should I avoid while taking RINVOQ?Avoid food or drink containing grapefruit during treatment with RINVOQ as it may increase the risk of side effects.What should I do or tell my HCP AFTER starting RINVOQ?Tell your HCP right away if you have any symptoms of an infection. RINVOQ can make you more likely to get infections or make any infections you have worse.Get emergency help right away if you have any symptoms of a heart attack or stroke while taking RINVOQ, including:Tell your HCP right away if you have any signs or symptoms of blood clots during treatment with RINVOQ, including:Tell your HCP right away if you have a fever or stomach-area pain that does not go away, and a change in your bowel habits.What are other possible side effects of RINVOQ?Common side effects include upper respiratory tract infections (common cold, sinus infections), shingles (herpes zoster), herpes simplex virus infections (including cold sores), bronchitis, nausea, cough, fever, acne, headache, increased blood levels of creatine phosphokinase, allergic reactions, inflammation of hair follicles, stomach-area (abdominal) pain, increased weight, flu, tiredness, lower number of certain types of white blood cells (neutropenia, lymphopenia, leukopenia), muscle pain, flu-like illness, rash, increased blood cholesterol levels,  increased liver enzyme levels, pneumonia, low number of red blood cells (anemia), and infection of the stomach and intestine (gastroenteritis).A separation or tear to the lining of the back part of the eye (retinal detachment) has happened in people with atopic dermatitis treated with RINVOQ. Call your HCP right away if you have any sudden changes in your vision during treatment with RINVOQ.Some people taking RINVOQ may see medicine residue (a whole tablet or tablet pieces) in their stool. If this happens, call your healthcare provider.These are not all the possible side effects of RINVOQ.How should I take RINVOQ?RINVOQ is taken once a day with or without food. Do not split, crush, or chew the tablet. Take RINVOQ exactly as your HCP tells you to use it. RINVOQ is available in 15 mg, 30 mg, and 45 mg extended-release tablets.This is the most important information to know about RINVOQ. For more information, talk to your HCP. You are encouraged to report negative side effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch or call 1-800-FDA-1088.If you are having difficulty paying for your medicine, AbbVie may be able to help. Visit AbbVie.com/myAbbVieAssist to learn more.Please click here for the Full Prescribing Information and Medication Guide.Globally, prescribing information varies; refer to the individual country product label for complete information.About AbbVieAbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, Instagram, YouTube and LinkedIn.Forward-Looking StatementsSome statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions, among others, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, failure to realize the expected benefits from AbbVie's acquisition of Allergan plc ("Allergan"), failure to promptly and effectively integrate Allergan's businesses, competition from other products, challenges to intellectual property, difficulties inherent in the research and development process, adverse litigation or government action, changes to laws and regulations applicable to our industry and the impact of public health outbreaks, epidemics or pandemics, such as COVID-19. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2022 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its subsequent Quarterly Reports on Form 10-Q. AbbVie undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.US-RNQG-230166 References: RINVOQ [Package Insert]. North Chicago, IL: AbbVie Inc.; 2023.Kaplan G. The Global Burden of IBD: from 2015 to 2025. Nat Rev Gastroenterol Hepatol. 2015 Dec;12(12):720-7. doi: 10.1038/nrgastro.2015.150.The Facts about Inflammatory Bowel Diseases. Crohn's & Colitis Foundation of America. 2014. Available at: https://www.crohnscolitisfoundation.org/sites/default/files/2019-02/Updated%20IBD%20Factbook.pdf. Accessed March 24, 2023.Crohn's disease. Symptoms and Causes. Mayo Clinic. 2020. Available at: https://www.mayoclinic.org/diseases-conditions/crohns-disease/symptoms-causes/syc-20353304. Accessed March 24, 2023.The Economic Costs of Crohn's Disease and Ulcerative Colitis. Access Economics Pty Limited. 2007. Available at: https://www.crohnsandcolitis.com.au/site/wp-content/uploads/Deloitte-Access-Economics-Report.pdf. Accessed March 24, 2023.A Study of the Efficacy and Safety of Upadacitinib (ABT-494) in Participants With Moderately to Severely Active Crohn's Disease Who Have Inadequately Responded to or Are Intolerant to Biologic Therapy. ClinicalTrials.gov. Available at: https://clinicaltrials.gov/ct2/show/NCT03345836?term=NCT03345836&draw=2&rank=1. Accessed March 30, 2023A Study of the Efficacy and Safety of Upadacitinib in Participants With Moderately to Severely Active Crohn's Disease Who Have Inadequately Responded to or Are Intolerant to Conventional and/or Biologic Therapies (U-EXCEL). ClinicalTrials.gov. Available at: https://clinicaltrials.gov/ct2/show/NCT03345849?term=NCT03345849&draw=2&rank=1. Accessed March 30, 2023.A Maintenance and Long-Term Extension Study of the Efficacy and Safety of Upadacitinib (ABT-494) in Participants With Crohn's Disease Who Completed the Studies M14-431 or M14-433. ClinicalTrials.gov. Available at: https://clinicaltrials.gov/ct2/show/NCT03345823?term=NCT03345823&draw=2&rank=1. Accessed March 30, 2023.A Study to Evaluate Efficacy and Safety of Upadacitinib in Adult Participants With Axial Spondyloarthritis (SELECT AXIS 2). ClinicalTrials.gov. Available at: https://clinicaltrials.gov/ct2/show/NCT04169373. Accessed March 24, 2023.A Study Comparing Upadacitinib (ABT-494) to Placebo and to Adalimumab in Adults with Rheumatoid Arthritis Who Are on a Stable Dose of Methotrexate and Who Have an Inadequate Response to Methotrexate (SELECT-COMPARE). ClinicalTrials.gov. Available at: https://clinicaltrials.gov/ct2/show/NCT02629159. Accessed March 24, 2023.A Study to Evaluate the Safety and Efficacy of ABT-494 for Induction and Maintenance Therapy in Subjects With Moderately to Severely Active Ulcerative Colitis. ClinicalTrials.gov. Available at: https://clinicaltrials.gov/ct2/show/NCT02819635. Accessed March 24, 2023.A Multicenter, Randomized, Double-Blind, Placebo-Controlled Study of ABT-494 for the Induction of Symptomatic and Endoscopic Remission in Subjects With Moderately to Severely Active Crohn's Disease Who Have Inadequately Responded to or Are Intolerant to Immunomodulators or Anti-TNF Therapy. ClinicalTrials.gov. Available at: https://clinicaltrials.gov/ct2/show/NCT02365649. Accessed March 24, 2023.A Study to Evaluate the Safety and Efficacy of Upadacitinib in Participants With Giant Cell Arteritis (SELECT-GCA). ClinicalTrials.gov. Available at: https://clinicaltrials.gov/ct2/show/NCT03725202. Accessed March 24, 2023.A Study Comparing Upadacitinib (ABT-494) to Placebo and to Adalimumab in Participants With Psoriatic Arthritis Who Have an Inadequate Response to at Least One Non-Biologic Disease Modifying Anti-Rheumatic Drug (SELECT - PsA 1). ClinicalTrials.gov. Available at: https://clinicaltrials.gov/ct2/show/NCT03104400. Accessed March 24, 2023.A Study to Compare Safety and Efficacy of Upadacitinib to Dupilumab in Adult Participants With Moderate to Severe Atopic Dermatitis (Heads Up). ClinicalTrials.gov. Available at: https://clinicaltrials.gov/ct2/show/NCT03738397. Accessed March 24, 2022.A Study to Evaluate the Safety and Efficacy of Upadacitinib in Participants with Giant Cell Arteritis (SELECT-GCA). ClinicalTrials.gov. Available at: https://clinicaltrials.gov/ct2/show/NCT03725202. Accessed March 30, 2023.A Study to Evaluate the Efficacy and Safety of Upadacitinib in Participants with Takaysu Arteritis (TAK) (SELECT-TAK). ClinicalTrials.gov. Available at: https://clinicaltrials.gov/ct2/show/NCT04161898?term=upadacitinib&cond=Takayasu%E2%80%99s+arteritis&draw=2&rank=1. Accessed March 30, 2023. U.S. Media:Sara Sanders+1 (973) 307-6145sara.sanders@abbvie.com Shannelle Fowler+1 (773) 520-2106shannelle.fowler@abbvie.comInvestors: Liz Shea+1 (847) 935-2211liz.shea@abbvie.com  CisionView original content:https://www.prnewswire.com/news-releases/us-fda-approves-rinvoq-upadacitinib-as-a-once-daily-pill-for-moderately-to-severely-active-crohns-disease-in-adults-301828837.htmlSOURCE AbbVie

PR Newswire

U.S. FDA Approves RINVOQ® (upadacitinib) as a Once-Daily Pill for Moderately to Severely Active Crohn's Disease in Adults

https://finance.yahoo.com/news/u-fda-approves-rinvoq-upadacitinib-162500452.html

aa73fbfd-ee1c-3c27-89a2-7ddb1d3ffb99

ABBV

Baron Funds, an investment management company, released its “Baron Health Care Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. The first quarter was difficult for the fund, as it failed to participate in the broader market rally and declined 3.69% compared to the 3.27% decline for the benchmark Russell 3000 Health Care Index and a 7.50% increase for the S&P 500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.Baron Health Care Fund highlighted stocks like AbbVie Inc. (NYSE:ABBV) in the first quarter 2023 investor letter. Headquartered in North Chicago, Illinois, AbbVie Inc. (NYSE:ABBV) is a global pharmaceutical company. On May 18, 2023, AbbVie Inc. (NYSE:ABBV) stock closed at $143.44 per share. One-month return of AbbVie Inc. (NYSE:ABBV) was -11.68%, and its shares lost 5.01% of their value over the last 52 weeks. AbbVie Inc. (NYSE:ABBV) has a market capitalization of $253.07 billion.Baron Health Care Fund made the following comment about AbbVie Inc. (NYSE:ABBV) in its Q1 2023 investor letter:"In a difficult quarter during which the Health Care sector failed to participate in the broader market rally, Baron Health Care Fund modestly trailed the Benchmark by 42 basis points, as disappointing stock selection overshadowed favorable impacts from differences in sub-industry weights and cash exposure. Lower exposure to benchmark heavyweight AbbVie Inc. (NYSE:ABBV) and declines in Cytokinetics, Incorporated, Ascendis Pharma A/S, and Inhibrx, Inc. also weighed on performance in the sub-industry. We reduced our position in AbbVie Inc. due to our less optimistic view of the company’s pipeline and long-term growth profile."test biotech researchRAJ CREATIONZS / shutterstock.comAbbVie Inc. (NYSE:ABBV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 73 hedge fund portfolios held AbbVie Inc. (NYSE:ABBV) at the end of the fourth quarter which was 80 in the previous quarter.Story continuesWe discussed AbbVie Inc. (NYSE:ABBV) in another article and shared the list of stocks receiving price-target cut from analysts. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors. Suggested Articles:20 Most Underpriced Housing Markets in the U.S.10 “Great” Earnings Reports Jim Cramer is Talking About25 Least Developed States in the USADisclosure: None. This article is originally published at Insider Monkey.

Insider Monkey

Here’s Why Baron Health Care Fund Trimmed AbbVie (ABBV)

https://finance.yahoo.com/news/why-baron-health-care-fund-091958457.html

2454f1cd-c80a-37f0-bdea-2c98041f5585

ABBV

By Raghav Mahobe(Reuters) -Ironwood Pharmaceuticals Inc said on Monday it would buy Switzerland-based drug developer VectivBio Holding AG for $1.15 billion, adding a promising treatment for digestive disorders to its portfolio.Ironwood has offered $17 per share for VectivBio, a premium of about 43% to the stock's last close.VectivBio's shares were at $16.21 in morning trade, while Ironwood's stock fell 4.5% to $10.The deal, expected to close in the second half, will help ease Massachusetts-based Ironwood's dependence on bowel disease drug Linzess, which it sells along with AbbVie.AbbVie reported first-quarter U.S. sales of $250.2 million from Linzess.VectivBio is developing apraglutide for a type of short bowel syndrome, where the body is unable to properly absorb nutrients and can be potentially fatal.Data from a late-stage study is expected by year-end.Ironwood hopes the treatment will become a blockbuster therapy, banking on a longer dosing interval and potentially better effectiveness to help it compete against other treatments."There's certainly challenges with daily injections versus a once-week injection. But I think what's going to really drive it (apraglutide) is the overall efficacy of the drug," Ironwood CEO Thomas McCourt said in a conference call.The deal would add to its earnings from 2026, Ironwood added, with a successful commercialization of the therapy.The disease has an estimated addressable population of 18,000 adult patients in the U.S., Europe and Japan, according to the companies.Apraglutide belongs to a class of treatments known as GLP-2s, which includes Takeda Pharmaceutical's Gattex that is already approved to treat short bowel syndrome and needs to be injected daily.(Reporting by Raghav Mahobe in Bengaluru; Editing by Janane Venkatraman, Shounak Dasgupta and Sriraj Kalluvila)

Reuters

Ironwood bulks up on digestive therapies with $1.15 billion VectivBio buy

https://finance.yahoo.com/news/ironwood-bulks-digestive-therapies-1-112203247.html

ec56ac1d-0457-3432-92dd-d9f515d0aa7c

ABBV

AbbVie ABBV and partner Genmab GMAB announced that the FDA has granted accelerated approval to their T-cell engaging bispecific antibody epcoritamab for treating relapsed/refractory diffuse large B-cell lymphoma (DLBCL). The new drug will be marketed by the trade name of Epkinly.  Continued approval for this indication will be based on data from some confirmatory studies.Epkinly is approved for treating relapsed/refractory DLBCL not otherwise specified, including DLBCL arising from indolent lymphoma, and high-grade B–cell lymphoma, after two or more lines of systemic therapies. DLBCL is a common, aggressive and fast-growing form of non-Hodgkin's lymphoma (NHL).At present, DLBCL is being treated with chemoimmunotherapy-based regimens while several targeted therapies including T-cell mediated treatments are there for relapsed/refractory DLBCL patients. Epcoritamab offers a non-chemotherapy, single-agent treatment for the third-line DLBCL patient population in need of additional therapy following failure to respond to currently available therapies.Epkinly is the third approved blood cancer drug in AbbVie’s portfolio, the other two being Imbruvica and Venclexta. However, Epkinly’s label contains a boxed warning for serious or life-threatening cytokine release syndrome and immune effector cell-associated neurotoxicity syndrome.The approval was based on the response rate and durability of response data from the expansion cohort of phase I/II study, EPCORE NHL-1. In the study, epcoritamab demonstrated a confirmed overall response rate of 61%, a complete response rate of 38%, while the median duration of response was 15.6 months patients with CD20+ DLBCL.AbbVie’s stock has declined 2% in the past year against an increase of 9.6% for the industry. Zacks Investment ResearchImage Source: Zacks Investment ResearchAbbVie and Genmab announced an oncology collaboration deal in 2020 to jointly develop and market three of the latter’s early-stage investigational bispecific antibody product candidates, which included epcoritamab. AbbVie and Genmab share commercial responsibilities for epcoritamab in the United States and Japan. AbbVie is responsible for further global commercialization. Genmab had filed the BLA for epcoritamab, a subcutaneous bispecific antibody, in October 2022.  In the EU too, a marketing authorization application was validated by the European Medicines Agency in October.Story continuesAbbVie and Genmab are evaluating epcoritamab both as a monotherapy and as a combination regimen across lines of therapy in a range of hematologic malignancies. Some ongoing studies are a phase III study on epcoritamab as a monotherapy in patients with relapsed/refractory DLBCL and two other evaluating epcoritamab in combination in patients with newly diagnosed DLBCL and relapsed/refractory follicular lymphoma.Zacks Rank & Stocks to ConsiderAbbVie currently carries a Zacks Rank #3 (Hold). Some better-ranked large drugmakers are Novo Nordisk NVO and Novartis NVS. While Novo Nordisk has a Zacks Rank of 1 (Strong Buy), Novartis has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Estimates for Novo Nordisk’s 2023 earnings per share have increased from $4.43 to $4.95 over the past 30 days. Estimates for 2024 have jumped from $5.19 per share to $5.74 in the same timeframe. Novo Nordisk’s stock has surged 58.2% in the past year.Novo Nordisk beat earnings expectations in three of the trailing four quarters. The company delivered a four-quarter earnings surprise of 0.35%, on average.Estimates for Novartis’ earnings per share have increased from $6.55 to $6.67 over the past 60 days, while those for 2024 have gone up from $7.04 per share to $7.22 per share. Novartis’ stock has risen 11.2% in the past year.Novartis beat earnings expectations in each of the trailing four quarters. The company delivered a four-quarter earnings surprise of 5.15%, on average.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportNovartis AG (NVS) : Free Stock Analysis ReportNovo Nordisk A/S (NVO) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportGenmab A/S Sponsored ADR (GMAB) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

AbbVie (ABBV) Gets FDA Nod for Lymphoma Drug Epcoritamab

https://finance.yahoo.com/news/abbvie-abbv-gets-fda-nod-162300176.html

e3d183f9-ab0f-3dca-9597-d10f0059b380

ABBV

Ironwood IRWD announced a definitive agreement to acquire VectivBio VECT, a Switzerland-based biotech company, focused on the development of treatments for severe and rare gastrointestinal conditions.Shares of Ironwood and VectivBio surged 3.6% and 38.6%, respectively, following the news.The all-cash transaction is valued at approximately $1 billion. Ironwood will pay $17.00 per share, which is a premium of about 43% of VectivBio’s closing price of May 19.This strategic move by Ironwood aims to strengthen its pipeline for gastrointestinal diseases. This is because VectivBio focuses on formulating medicines for severe rare gastrointestinal conditions.VECT is developing its lead candidate, apraglutide, for treating short-bowel syndrome patients with intestinal failure. The candidate is in phase III clinical study with plans for a top-line readout by the end of 2023.If apraglutide is developed successfully, it holds great promise as a next-generation GLP-2 analog with a potential to generate $1 billion in peak net sales. The candidate was granted orphan drug designation by the FDA for the treatment of adult patients with SBS-IF.Approximately 18,000 adult patients in Europe, Japan and the United States suffer from short bowel syndrome with intestinal failure. Apraglutide can potentially address this issue.The agreement has been approved by both companies' board of directors and is expected to be closed in the second half of 2023, subject to customary closing conditions.Shares of Ironwood have plunged 9.8% in the year-to-date period against the industry’s 0.8% growth.Zacks Investment ResearchImage Source: Zacks Investment ResearchThe acquisition will add a promising treatment for digestive disorders to IRWD’s portfolio. It will also strengthen the company’s existing portfolio, which includes Linzess, a widely used and successful gastrointestinal treatment.Ironwood, with partner with AbbVie ABBV, co-develops and co-commercializes Linzess in equal shares. Linzess is marketed by AbbVie in Europe and Canada under the brand name, Constella. Ironwood receives royalties on sales of Constella in Europe and Canada from AbbVie.Story continuesFrom a financial perspective, the acquisition is expected to support long-term profitability and cash-flow generation for Ironwood. The transaction is anticipated to benefit IRWD’s earnings, beginning 2026.IRWD plans to finance the acquisition using its cash reserves and funds drawn through a four-year, $500 million revolving credit facility established in connection with the transaction.Ironwood Pharmaceuticals, Inc. Price and ConsensusIronwood Pharmaceuticals, Inc. Price and ConsensusIronwood Pharmaceuticals, Inc. price-consensus-chart | Ironwood Pharmaceuticals, Inc. QuoteZacks Rank and Stock to ConsiderCurrently, Ironwood carries a Zacks Rank #3 (Hold).A better-ranked stock for investors interested in the same sector is ADMA Biologics ADMA, carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Loss per estimates for ADMA have narrowed from 19 cents to 9 cents for 2023 in the past 60 days. Shares of ADMA have risen 6.7% in the year-to-date period.ADMA Biologics’ earnings beat estimates in three of the trailing four quarters and met the mark in one, delivering an average surprise of 19.3%.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportIronwood Pharmaceuticals, Inc. (IRWD) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportADMA Biologics Inc (ADMA) : Free Stock Analysis ReportVectivBio Holding AG (VECT) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Ironwood (IRWD) to Acquire VectivBio for $1B, Stock Up 3.6%

https://finance.yahoo.com/news/ironwood-irwd-acquire-vectivbio-1b-160700597.html

43fa842d-2272-3396-a923-b350faaa9393

ABBV

-  Five-year results from SELECT-COMPARE evaluating the efficacy and safety of RINVOQ® (upadacitinib) and HUMIRA® (adalimumab), both in combination with methotrexate (MTX), are reported for adult patients with moderate to severely active rheumatoid arthritis (RA) who had an inadequate response to MTX1-  Three-year results from SELECT-PsA 1 evaluating the efficacy and safety of RINVOQ are reported in psoriatic arthritis (PsA) patients with prior inadequate response (IR) or intolerance to one or more non-biologic disease-modifying antirheumatic drugs (DMARDs)2-  One-year efficacy and safety data of RINVOQ are reported in SELECT-AXIS 2 for patients with active ankylosing spondylitis (AS) who had an inadequate response to biologic DMARD therapy3NORTH CHICAGO, Ill., May 24, 2023 /PRNewswire/ -- AbbVie (NYSE: ABBV) today announced that researchers will present new, long-term data supporting the efficacy and safety profile of RINVOQ® (upadacitinib) from the SELECT-COMPARE, SELECT-PsA 1 and SELECT-AXIS 2 studies at the European Congress of Rheumatology, EULAR 2023, taking place from 31 May – 3 June in Milan."These new results from the SELECT trial programs continue to strengthen the breadth of evidence available for RINVOQ's efficacy and safety profile in several rheumatic diseases," said Mudra Kapoor, vice president, global medical affairs, immunology, AbbVie. "Our investment in long-term data is an essential part of AbbVie's ongoing commitment to ensure we are supporting patients living with immune-mediated diseases."Long-term data supporting the efficacy and safety profile of RINVOQ that will be presented at the EULAR 2023 Congress include more than 20 clinical endpoints and safety data from approximately 2,450 patients representing more than 6,700 patient-years across rheumatoid arthritis (RA), psoriatic arthritis (PsA), and ankylosing spondylitis (AS).1,2,3"The impact of rheumatic diseases, such as rheumatoid arthritis, psoriatic arthritis, and ankylosing spondylitis, can be life-long and deeply affect a patient's quality of life," said Roy Fleischmann, M.D., SELECT-COMPARE study investigator and clinical professor of medicine, University of Texas Southwestern Medical Center, co-medical director, Metroplex Clinical Research Center. "These efficacy and safety data provide additional information to help healthcare providers make important treatment choices with their patients and highlight the ability to maintain disease control with long-term treatment."Story continuesHighlights from these trials include:Long-Term Safety and Efficacy of Upadacitinib or Adalimumab in Patients with Rheumatoid Arthritis: Five-Year Data From the SELECT-COMPARE StudyPOS0849. Thurs, 1 June; 14:45-15:45 CESTThe abstract reported the safety and efficacy of RINVOQ and HUMIRA across five years in adult patients with moderate to severely active RA who had an inadequate response to methotrexate (MTX), as part of the ongoing long-term extension (LTE) of SELECT-COMPARE. Patients receiving background MTX were randomized to receive RINVOQ 15 mg once daily, HUMIRA 40 mg every other week or placebo and those who completed the 48-week double-blind period could continue to receive open label RINVOQ or HUMIRA in the LTE up to 10 years. Efficacy endpoints included Clinical Disease Activity Index (CDAI) low disease activity (LDA), CDAI remission, and disease activity scores based on 28 joints and C-reactive protein (DAS28[CRP]) ≤ 3.2 (LDA) and <2.6 (clinical remission) at five years and radiographic data at 192 weeks. Rates of treatment-emergent adverse events (TEAEs) and AEs of special interest were calculated per 100 patient-years through five years for all patients receiving RINVOQ or HUMIRA. Through five years, 1,417 patients were exposed to RINVOQ (4,497 patient-years) and 579 patients to HUMIRA (1,472 patient-years). The study results support the long-term efficacy and safety profile of RINVOQ in the studied patient population.1Long-Term Efficacy and Safety of Upadacitinib in Patients with Psoriatic Arthritis: Three-Year Results from the Phase 3 SELECT-PsA 1 StudyPOS1541. Sat, 3 June; 10:30-11:30 CESTThe abstract reported the efficacy and safety of RINVOQ as part of the SELECT-PsA 1 study – an ongoing long-term open-label extension study in PsA patients with prior IR or intolerance to one or more non-biologic DMARD. Patients were randomized to receive RINVOQ 15 mg or 30 mg once daily, HUMIRA 40 mg every other week, or placebo. Efficacy endpoints including the American College of Rheumatology criteria (ACR20/50/70), minimal disease activity, Psoriasis Area and Severity Index (PASI75/90/100), resolution of enthesitis, resolution of dactylitis, Health Assessment Questionnaire-Disability Index (HAQ-DI), pain, Bath Ankylosing Spondylitis Disease Activity Index (BASDAI), and modified total Sharp/van der Heijde score (mTSS) were assessed through week 152, and safety data through 13 June, 2022 (1,694.7 patient-years of exposure).2 The study results support the efficacy and safety profile of RINVOQ in the studied patient population over three years.2Efficacy and Safety of Upadacitinib in Patients with Active Ankylosing Spondylitis and an Inadequate Response to Biologic DMARD Therapy: One-Year Results from a Phase 3 StudyPOS1122. Fri, 2 June; 9:30-10:30 CESTThis analysis evaluated efficacy over 52 weeks in patients who received RINVOQ for the whole study duration, and those who switched from placebo to RINVOQ at week 14, from the Phase 3 SELECT-AXIS 2 program. Efficacy endpoints included Assessment of SpondyloArthritis international Society 40 response (ASAS40), ASAS partial remission (PR), AS Disease Activity Score (ASDAS) with C-reactive protein [CRP], low disease activity (LDA; <2.1), ASDAS inactive disease (ID; <1.3), and changes from baseline in ASDAS and high-sensitivity CRP (hsCRP). Safety was assessed through the cut-off date of 19 May, 2022, representing 534.4 patient-years of exposure to RINVOQ.3 The study results support the efficacy and safety profile of RINVOQ in patients with active AS who had an IR or intolerance to biologic DMARDs through one year. AbbVie reported initial results at week 14 from the SELECT-AXIS 2 AS bDMARD-IR study during the EULAR 2022 Congress.About RINVOQ® (upadacitinib) Discovered and developed by AbbVie scientists, RINVOQ is a selective and reversible JAK inhibitor that is being studied in several immune-mediated inflammatory diseases.4-16 In human cellular assays, RINVOQ preferentially inhibits signaling by JAK1 or JAK1/3 with functional selectivity over cytokine receptors that signal via pairs of JAK2.4Upadacitinib (RINVOQ) is in Phase 3 for giant cell arteritis, Takayasu arteritis and systemic lupus erythematosus.11,15,18 EU Indications and Important Safety Information about RINVOQ® (upadacitinib)4 IndicationsRheumatoid arthritisRINVOQ is indicated for the treatment of moderate to severe active rheumatoid arthritis (RA) in adult patients who have responded inadequately to, or who are intolerant to one or more disease-modifying anti-rheumatic drugs (DMARDs). RINVOQ may be used as monotherapy or in combination with methotrexate.Psoriatic arthritisRINVOQ is indicated for the treatment of active psoriatic arthritis (PsA) in adult patients who have responded inadequately to, or who are intolerant to one or more DMARDs. RINVOQ may be used as monotherapy or in combination with methotrexate.Axial spondyloarthritisNon-radiographic axial spondyloarthritis (nr-axSpA)RINVOQ is indicated for the treatment of active non-radiographic axial spondyloarthritis in adult patients with objective signs of inflammation as indicated by elevated C-reactive protein (CRP) and/or magnetic resonance imaging (MRI), who have responded inadequately to nonsteroidal anti- inflammatory drugs (NSAIDs).Ankylosing spondylitis (AS, radiographic axial spondyloarthritis)RINVOQ is indicated for the treatment of active ankylosing spondylitis in adult patients who have responded inadequately to conventional therapy.Atopic dermatitisRINVOQ is indicated for the treatment of moderate to severe atopic dermatitis (AD) in adults and adolescents 12 years and older who are candidates for systemic therapy.Ulcerative colitisRINVOQ is indicated for the treatment of adult patients with moderately to severely active ulcerative colitis (UC) who have had an inadequate response, lost response or were intolerant to either conventional therapy or a biologic agent.Crohn's diseaseRINVOQ is indicated for the treatment of adult patients with moderately to severely active Crohn's disease who have had an inadequate response, lost response or were intolerant to either conventional therapy or a biologic agent.Important Safety InformationContraindicationsRINVOQ is contraindicated in patients hypersensitive to the active substance or to any of the excipients, in patients with active tuberculosis (TB) or active serious infections, in patients with severe hepatic impairment, and during pregnancy.Special warnings and precautions for useRINVOQ should only be used if no suitable treatment alternatives are available in patients:-  65 years of age and older;-  patients with history of atherosclerotic cardiovascular (CV) disease or other CV risk factors (such as current or past long-time smokers);-  patients with malignancy risk factors (e.g. current malignancy or history of malignancy)Use in patients 65 years of age and olderConsidering the increased risk of MACE, malignancies, serious infections, and all-cause mortality in patients ≥65 years of age, as observed in a large randomised study of tofacitinib (another JAK inhibitor), RINVOQ should only be used in these patients if no suitable treatment alternatives are available. In patients ≥65 years of age, there is an increased risk of adverse reactions with RINVOQ 30 mg once daily. Consequently, the recommended dose for long-term use in this patient population is 15 mg once daily.Immunosuppressive medicinal productsUse in combination with other potent immunosuppressants is not recommended.Serious infectionsSerious and sometimes fatal infections have been reported in patients receiving RINVOQ. The most frequent serious infections reported included pneumonia and cellulitis. Cases of bacterial meningitis and sepsis have been reported with RINVOQ. Among opportunistic infections, TB, multidermatomal herpes zoster, oral/esophageal candidiasis, and cryptococcosis have been reported. RINVOQ should not be initiated in patients with an active, serious infection, including localized infections. RINVOQ should be interrupted if a patient develops a serious or opportunistic infection until the infection is controlled. A higher rate of serious infections was observed with RINVOQ 30 mg compared to 15 mg. As there is a higher incidence of infections in the elderly and patients with diabetes in general, caution should be used when treating these populations. In patients ≥65 years of age, RINVOQ should only be used if no suitable treatment alternatives are available.TuberculosisPatients should be screened for TB before starting RINVOQ. RINVOQ should not be given to patients with active TB. Anti-TB therapy may be appropriate for select patients in consultation with a physician with expertise in the treatment of TB. Patients should be monitored for the development of signs and symptoms of TB.Viral reactivationViral reactivation, including cases of herpes zoster, was reported in clinical studies. The risk of herpes zoster appears to be higher in Japanese patients treated with RINVOQ. Consider interruption of RINVOQ if the patient develops herpes zoster until the episode resolves. Screening for viral hepatitis and monitoring for reactivation should occur before and during therapy. If hepatitis B virus DNA is detected, a liver specialist should be consulted.VaccinationThe use of live, attenuated vaccines during or immediately prior to therapy is not recommended. It is recommended that patients be brought up to date with all immunizations, including prophylactic zoster vaccinations, prior to initiating RINVOQ, in agreement with current immunization guidelines.MalignancyLymphoma and other malignancies have been reported in patients receiving JAK inhibitors, including RINVOQ. In a large randomised active–controlled study of tofacitinib (another JAK inhibitor) in RA patients ≥50 years of age with ≥1 additional CV risk factor, a higher rate of malignancies, particularly lung cancer, lymphoma, and non-melanoma skin cancer (NMSC), was observed with tofacitinib compared to tumour necrosis factor (TNF) inhibitors. A higher rate of malignancies, including NMSC, was observed with RINVOQ 30 mg compared to 15 mg. Periodic skin examination is recommended for all patients, particularly those with risk factors for skin cancer. In patients ≥65 years of age, patients who are current or past long-time smokers, or patients with other malignancy risk factors (e.g., current malignancy or history of malignancy), RINVOQ should only be used if no suitable treatment alternatives are available.Hematological abnormalitiesTreatment should not be initiated, or should be temporarily interrupted, in patients with hematological abnormalities observed during routine patient management.Gastrointestinal PerforationsEvents of diverticulitis and gastrointestinal perforations have been reported in clinical trials and from post–marketing sources. RINVOQ should be used with caution in patients who may be at risk for gastrointestinal perforation (e.g., patients with diverticular disease, a history of diverticulitis, or who are taking nonsteroidal antiinflammatory drugs (NSAIDs), corticosteroids, or opioids. Patients with active Crohn's disease are at increased risk for developing intestinal perforation. Patients presenting with new onset abdominal signs and symptoms should be evaluated promptly for early identification of diverticulitis or gastrointestinal perforation.Major adverse cardiovascular eventsMACE were observed in clinical studies of RINVOQ. In a large randomised active-controlled study of tofacitinib (another JAK inhibitor) in RA patients ≥50 years of age with ≥1 additional CV risk factor, a higher rate of MACE, defined as CV death, non-fatal myocardial infarction and non-fatal stroke, was observed with tofacitinib compared to TNF inhibitors. Therefore, in patients ≥65 years of age, patients who are current or past long-time smokers, and patients with history of atherosclerotic CV disease or other CV risk factors, RINVOQ should only be used if no suitable treatment alternatives are available.LipidsRINVOQ treatment was associated with dose-dependent increases in lipid parameters, including total cholesterol, low-density lipoprotein cholesterol, and high-density lipoprotein cholesterol.Hepatic transaminase elevationsTreatment with RINVOQ was associated with an increased incidence of liver enzyme elevation. If alanine transaminase (ALT) or aspartate transaminase (AST) increases are observed and drug-induced liver injury is suspected, RINVOQ should be interrupted until this diagnosis is excluded.Venous thromboembolismEvents of deep venous thrombosis (DVT) and pulmonary embolism (PE) were observed in clinical trials for RINVOQ. In a large randomised active-controlled study of tofacitinib (another JAK inhibitor) in RA patients ≥50 years of age with ≥1 additional CV risk factor, a dose–dependent higher rate of VTE including DVT and PE was observed with tofacitinib compared to TNF inhibitors. In patients with CV or malignancy risk factors, RINVOQ should only be used if no suitable treatment alternatives are available. In patients with known VTE risk factors other than CV or malignancy risk factors (e.g. previous VTE, patients undergoing major surgery, immobilisation, use of combined hormonal contraceptives or hormone replacement therapy, and inherited coagulation disorder), RINVOQ should be used with caution. Patients should be re-evaluated periodically to assess for changes in VTE risk. Promptly evaluate patients with signs and symptoms of VTE and discontinue RINVOQ in patients with suspected VTE.Hypersensitivity reactionsSerious hypersensitivity reactions such as anaphylaxis and angioedema have been reported in patients receiving RINVOQ. If a clinically significant hypersensitivity reaction occurs, discontinue RINVOQ and institute appropriate therapy.Adverse reactionsThe most commonly reported adverse reactions in RA, PsA, and axSpA clinical trials (≥2% of patients in at least one of the indications) with RINVOQ 15 mg were upper respiratory tract infections, blood creatine phosphokinase (CPK) increased, ALT increased, bronchitis, nausea, neutropenia, cough, AST increased, and hypercholesterolemia. Overall, the safety profile observed in patients with psoriatic arthritis or active axial spondyloarthritis treated with RINVOQ 15 mg was consistent with the safety profile observed in patients with RA.The most commonly reported adverse reactions in AD trials (≥2% of patients) with RINVOQ 15 mg or 30 mg were upper respiratory tract infection, acne, herpes simplex, headache, blood CPK increased, cough, folliculitis, abdominal pain, nausea, neutropenia, pyrexia, and influenza. Dose dependent increased risks of infection and herpes zoster were observed with RINVOQ. The safety profile for RINVOQ 15 mg in adolescents was similar to that in adults. The safety and efficacy of the 30 mg dose in adolescents are still being investigated.The most commonly reported adverse reactions in the UC and CD trials (≥3% of patients) with RINVOQ 45 mg, 30 mg or 15 mg were upper respiratory tract infection, pyrexia, blood CPK increased, anemia, headache, acne, herpes zoster, neutropaenia, rash, pneumonia, hypercholesterolemia, bronchitis, aspartate transaminase increased, fatigue, folliculitis, alanine transaminase increased, herpes simplex, and influenza.The overall safety profile observed in patients with UC was generally consistent with that observed in patients with RA.Overall, the safety profile observed in patients with CD treated with RINVOQ was consistent with the known safety profile for RINVOQ.The most common serious adverse reactions were serious infections.The safety profile of upadacitinib with long–term treatment was generally similar to the safety profile during the placebo–controlled period across indications.This is not a complete summary of all safety information.See RINVOQ full Summary of Product Characteristics (SmPC) at www.ema.europa.euGlobally, prescribing information varies; refer to the individual country product label for complete information.About HUMIRA® (adalimumab) in the European Union17Rheumatoid arthritisHUMIRA in combination with methotrexate, is indicated for:the treatment of moderate to severe, active rheumatoid arthritis in adult patients when the response to disease-modifying anti-rheumatic drugs including methotrexate has been inadequate.the treatment of severe, active and progressive rheumatoid arthritis in adults not previously treated with methotrexate.HUMIRA can be given as monotherapy in case of intolerance to methotrexate or when continued treatment with methotrexate is inappropriate.HUMIRA has been shown to reduce the rate of progression of joint damage as measured by X-ray and to improve physical function, when given in combination with methotrexate.Psoriatic arthritisHUMIRA is indicated for the treatment of active and progressive psoriatic arthritis in adults when the response to previous disease-modifying anti-rheumatic drug therapy has been inadequate. Humira has been shown to reduce the rate of progression of peripheral joint damage as measured by X-ray in patients with polyarticular symmetrical subtypes of the disease and to improve physical function.Important EU Safety Information about HUMIRA® (adalimumab)17HUMIRA is contraindicated in patients with active tuberculosis or other severe infections such as sepsis, and opportunistic infections and in patients with moderate to severe heart failure (NYHA class III/IV). It is also contraindicated in patients hypersensitive to the active substance or to any of the excipients; serious allergic reactions including anaphylaxis have been reported.The use of HUMIRA increases the risk of developing serious infections, including hepatitis B reactivation, which may, in rare cases, be life-threatening. Rare cases of lymphoma and leukemia have been reported in patients treated with HUMIRA.On rare occasions, a severe type of cancer called hepatosplenic T-cell lymphoma has been observed and often results in death. A risk for the development of malignancies in patients treated with TNF- antagonists cannot be excluded. Rare cases of pancytopenia, aplastic anemia, demyelinating disease, lupus, lupus-related conditions and Stevens-Johnson syndrome have been reported in patients treated with HUMIRA.The most frequently reported adverse events across all indications included respiratory infections, injection site reactions, headache and musculoskeletal pain.This is not a complete summary of all safety information.See HUMIRA full summary of product characteristics (SmPC) for complete prescribing information at www.ema.europa.eu. Globally, prescribing information varies; refer to the individual country product label for complete information.About AbbVie in RheumatologyFor more than 20 years, AbbVie has been dedicated to improving care for people living with rheumatic diseases. Anchored by a longstanding commitment to discovering and delivering transformative therapies, we pursue cutting-edge science that improves our understanding of promising new pathways and targets, ultimately helping more people living with rheumatic diseases reach their treatment goals. For more information, visit AbbVie in rheumatology.About AbbVie AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, LinkedIn or Instagram.Forward-Looking Statements Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2022 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its subsequent Quarterly Reports on Form 10-Q. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.ReferencesFleischmann, R.M., et al. Long-Term Safety and Efficacy of Upadacitinib or Adalimumab in Patients with Rheumatoid Arthritis: 5-Year Data From the SELECT-COMPARE Study. EULAR 2023 Congress; 0849.Mcinnes, I., et al. Long-Term Efficacy and Safety of Upadacitinib in Patients with Psoriatic Arthritis: 3-Year Results from the Phase 3 SELECT-PsA 1 Study. EULAR 2023 Congress; 1541.Baraliakos, X., et al. Efficacy and Safety of Upadacitinib in Patients with Active Ankylosing Spondylitis and an Inadequate Response to Biologic DMARD Therapy: One-Year Results from a Phase 3 Study. EULAR 2023 Congress; 1122.RINVOQ [Summary of Product Characteristics]. AbbVie Deutschland GmbH & Co KG. Available at: www.ema.europa.euDanese S, Vermeire S, Zhou W, et al. Upadacitinib as induction and maintenance therapy for moderately to severely active ulcerative colitis: results from three phase 3, multicentre, double-blind, randomised trials. The Lancet. 2022;399(10341):2113-2128. doi:10.1016/S0140-6736(22)00581-5.Mease PJ, Lertratanakul A, Anderson JK, et al. Upadacitinib for psoriatic arthritis refractory to biologics: SELECT-PsA 2. Annals of the Rheumatic Diseases. 2021;80(3):312-320. doi:10.1136/annrheumdis-2020-218870. Guttman-Yassky E, Teixeira HD, Simpson EL, et al. Once-daily upadacitinib versus placebo in adolescents and adults with moderate-to-severe atopic dermatitis (Measure Up 1 and Measure Up 2): results from two replicate double-blind, randomised controlled phase 3 trials. The Lancet. 2021;397(10290):2151-2168. doi:10.1016/S0140-6736(21)00588-2. Van der Heijde D, Song IH, Pangan AL, et al. Efficacy and safety of upadacitinib in patients with active ankylosing spondylitis (SELECT-AXIS 1): a multicentre, randomised, double-blind, placebo-controlled, phase 2/3 trial. Lancet. 2019;394(10214):2108-2117. doi:10.1016/S0140-6736(19)32534-6.A Study of the Efficacy and Safety of Upadacitinib (ABT-494) in Participants with Moderately to Severely Active Ulcerative Colitis. clinicaltrials.gov; 2022. Available at: https://clinicaltrials.gov/ct2/show/NCT03653026. Accessed August 26, 2022.A Study to Evaluate the Safety and Efficacy of Upadacitinib (ABT-494) for Induction and Maintenance Therapy in Participants with Moderately to Severely Active Ulcerative Colitis (UC). clinicaltrials.gov; 2022. Available at: https://clinicaltrials.gov/ct2/show/NCT02819635. Accessed August 26, 2022.A Study to Evaluate the Efficacy and Safety of Upadacitinib in Subjects with Takayasu Arteritis (TAK) (SELECT-TAK). clinicaltrials.gov; 2021. Available at: https://clinicaltrials.gov/ct2/show/NCT04161898. Accessed August 26, 2022.A Study to Evaluate Efficacy and Safety of Upadacitinib in Adult Participants with Axial Spondyloarthritis. clinicaltrials.gov; 2021. Available at: https://clinicaltrials.gov/ct2/show/NCT04169373. Accessed August 26, 2022. Burmester GR, Kremer JM, Van den Bosch F, et al. Safety and efficacy of upadacitinib in patients with rheumatoid arthritis and inadequate response to conventional synthetic disease-modifying anti-rheumatic drugs (SELECT-NEXT): a randomised, double-blind, placebo-controlled phase 3 trial. Lancet. 2018;391(10139):2503-2512. doi:10.1016/S0140-6736(18)31115-2. Cohen SB, van Vollenhoven RF, Winthrop KL, et al. Safety profile of upadacitinib in rheumatoid arthritis: integrated analysis from the SELECT phase III clinical programme. Ann Rheum Dis. Published online October 28, 2020:annrheumdis-2020-218510. doi:10.1136/annrheumdis-2020-218510. A Study to Evaluate the Safety and Efficacy of Upadacitinib in Participants with Giant Cell Arteritis. clinicaltrials.gov; 2022. Available at: https://clinicaltrials.gov/ct2/show/NCT03725202. Accessed August 26, 2022. A Maintenance and Long-Term Extension Study of the Efficacy and Safety of Upadacitinib (ABT-494) in Participants with Crohn's Disease Who Completed the Studies M14-431 or M14-433. clinicaltrials.gov; 2022. Available at: https://clinicaltrials.gov/ct2/show/NCT03345823. Accessed August 26, 2022.HUMIRA [Summary of Product Characteristics]. AbbVie Ltd.; Available at: http://www.ema.europa.eu/docs/en_GB/document_library/EPAR_-_Product_Information/human/000481/WC500050870.pdf.Program to Assess Adverse Events and Change in Disease Activity of Oral Upadacitinib in Adult Participants With Moderate to Severe Systemic Lupus Erythematosus (SELECT-SLE). Clinicaltrials.gov; 2023. Available at: https://www.clinicaltrials.gov/ct2/show/NCT05843643.  Accessed May 15, 2023. CisionView original content:https://www.prnewswire.com/news-releases/abbvie-presents-long-term-data-further-supporting-the-efficacy-and-safety-profile-of-rinvoq-upadacitinib-across-multiple-rheumatic-diseases-at-the-eular-2023-congress-301832895.htmlSOURCE AbbVie

PR Newswire

AbbVie Presents Long-Term Data Further Supporting the Efficacy and Safety Profile of RINVOQ® (upadacitinib) Across Multiple Rheumatic Diseases at the EULAR 2023 Congress

https://finance.yahoo.com/news/abbvie-presents-long-term-data-130000602.html

b5784237-58b5-3405-b487-8087262cfe2a

ABBV

In this article, we will take a look at 14 best healthcare dividend stocks to buy. You can skip our detailed analysis of the healthcare sector and dividend stocks, and go directly to read 5 Best Healthcare Dividend Stocks to Buy. The healthcare sector in the US encompasses a wide range of providers, facilities, and services aimed at promoting and maintaining the health of the population. The industry is also a significant and crucial part of the US economy. According to the Centers for Medicare and Medicaid Services, US healthcare spending reached $4.3 trillion in 2021 and accounted for 18.3% of the national GDP. Given this growing healthcare spending, analysts have presented a positive outlook for the sector in the coming years as well. Healthcare profit pools are projected to grow at a 4% CAGR from $654 billion in 2021 to $790 billion in 2026, as reported by McKinsey & Company.The onset of the pandemic has brought several changes and transformations in the US healthcare system. The adoption of telehealth services accelerated post-pandemic to reduce the risks of exposure. According to a report by Deloitte, 68% of physicians offered virtual health options in 2022, compared with just 14% the prior year. The report further mentioned that 57% to 80% of patients prefer telehealth services. These shifting patient preferences are likely to have a lasting impact, resulting in the further growth of the telehealth sector. Bloomberg Intelligence (BI) estimated that the sector could bring $20 billion in US revenues by 2027. The analysis also projected a 30% annual revenue growth for top telehealth providers.Also read: 11 Best Mid-Cap Healthcare Stocks To Buy NowThe demand for healthcare-related products and services remains relatively stable despite economic conditions. This was seen in 2022 when high-interest rates caused major indices to plunge, whereas the healthcare sector maintained a solid footing and outperformed the broader market. Healthcare stocks have historically delivered stable performance during periods of economic uncertainty. In our article titled 12 Defensive Healthcare Dividend Stocks, we mentioned that these equities have outperformed in down markets from 2000 through June 2022.Story continuesIn addition to their defensive nature, dividend payments from healthcare companies are appealing to investors. Dividend stocks have demonstrated their worth during previous high inflationary periods, becoming top choices for investors. Quality healthcare companies like Johnson & Johnson (NYSE:JNJ), AbbVie Inc. (NYSE:ABBV), and Merck & Co., Inc. (NYSE:MRK) have histories of strong financial performance and consistent earnings. Their ability to regularly pay and grow their dividends compels investors to pile on these stocks. In this article, we will further take a look at the best healthcare dividend stocks to buy.Best Healthcare Dividend Stocks to BuyPhoto by Vitaly Taranov on Unsplash Our Methodology:For this list, we scoured Insider Monkey's database of 943 elite funds as of Q1 2023 to determine healthcare dividend stocks that are popular among these smart money investors. Next, we shortlisted healthcare dividend companies that have raised their payouts for at least five years and also considered the respective companies' overall financial health. We sorted these stocks by the number of hedge funds in our database with positions in these companies at the end of Q1.14. Cardinal Health, Inc. (NYSE:CAH)Number of Hedge Fund Holders: 50Cardinal Health, Inc. (NYSE:CAH) is an Ohio-based multinational healthcare services company that deals in the distribution of pharmaceuticals and other medical products. The company reported strong Q1 earnings with revenue amounting to over $50.5 billion, up 13% from the same period last year. Its operating cash flow for the quarter came in at over $1.3 billion.On May 11, Cardinal Health, Inc. (NYSE:CAH) declared a 1% hike in its quarterly dividend to $0.5006 per share. Through this increase, the company took its dividend growth streak to 37 years, which makes it one of the best dividend stocks in the healthcare sector. The stock has a dividend yield of 2.36%, as of May 23. Johnson & Johnson (NYSE:JNJ), AbbVie Inc. (NYSE:ABBV), and Merck & Co., Inc. (NYSE:MRK) are some other popular dividend stocks from the healthcare industry.Cardinal Health, Inc. (NYSE:CAH) attracted positive Wall Street ratings after reporting earnings beat in its most recent quarter. In May, both Deutsche Bank and UBS raised their price targets on the stocks to $90 and $93, respectively.At the end of Q1 2023, 50 hedge funds in Insider Monkey's database owned stakes in Cardinal Health, Inc. (NYSE:CAH), the same as in the previous quarter. The collective value of these stakes is over $1.36 billion.Ariel Investments mentioned Cardinal Health, Inc. (NYSE:CAH) in its Q3 2022 investor letter. Here is what the firm has to say:“Additionally, distributor of pharmaceutical and medical products Cardinal Health, Inc. (NYSE:CAH) advanced in the period as leadership changes were viewed to be a positive for shares. Management provided a new profit outlook for Fiscal 2023 and announced an improvement plan for the medical segment. We are encouraged by these changes and think CAH’s underlying fundamentals and competitive advantages around preventative maintenance screenings and medication management will continue to improve. We believe valuations of health care companies like CAH that focus on cost optimization and promote technological efficiency across the supply chain will be rewarded over the long term.”13. Medtronic plc (NYSE:MDT)Number of Hedge Fund Holders: 52Medtronic plc (NYSE:MDT) is an American medical device company that offers services related to medical technology. The company currently offers a quarterly dividend of $0.68 per share and has a dividend yield of 3.12%, as of May 23. It is one of the best dividend stocks on our list as it maintains a 45-year streak of consistent dividend growth.Medtronic plc (NYSE:MDT) reported a strong cash position in its fiscal Q3 2023, which shows that the company is well-positioned to grow its dividends in the future. For nine months that ended in January 2023, the company's operating cash flow came in at over $3.5 billion and its free cash flow amounted to $2.5 billion. Moreover, it had over $4.5 billion available in cash and cash equivalents, up from $3.7 billion during the same period last year.Medtronic plc (NYSE:MDT) was a part of 52 hedge fund portfolios at the end of Q1 2023, as per Insider Monkey's database. The stakes owned by these elite funds have a collective value of over $1.64 billion.Carillon Tower Advisers mentioned Medtronic plc (NYSE:MDT) in its Q4 2022 investor letter. Here is what the firm has to say:“Medtronic plc (NYSE:MDT) announced disappointing clinical trial results for a new product in its pipeline and lowered its fiscal 2023 financial guidance due to lingering supply chain issues and slower than expected medical procedure recovery.”12. Becton, Dickinson and Company (NYSE:BDX)Number of Hedge Fund Holders: 56Becton, Dickinson and Company (NYSE:BDX) is a New Jersey-based medical technology company that mainly specializes in the production of medical devices. In May, Barclays raised its price target on the stock to $284 and kept an Overweight rating on the shares, highlighting the company's improvements in underlying growth and execution.On April 25, Becton, Dickinson and Company (NYSE:BDX) declared a quarterly dividend of $0.91 per share, which was the same as its previous dividend. In 2022, the company hiked its dividend for the 51st consecutive year, making it one of the best dividend stocks on our list. The stock's dividend yield on May 23 came in at 1.48%.For the six months that ended in March 2023, Becton, Dickinson and Company (NYSE:BDX) reported an operating cash flow of $584 million. For fiscal Q2 2023, the company's revenue came in at $4.8 billion, which showed a 1.4% growth from the same period last year.The number of hedge funds tracked by Insider Monkey owning stakes in Becton, Dickinson and Company (NYSE:BDX) grew to 56 in Q1 2023, from 52 in the previous quarter. These stakes have a collective value of roughly $3 billion. With nearly 2 million shares, Generation Investment Management was the company's leading stakeholder in Q1.11. Amgen Inc. (NASDAQ:AMGN)Number of Hedge Fund Holders: 57Amgen Inc. (NASDAQ:AMGN) specializes in the discovery and manufacturing of innovative human therapeutics. In the first quarter of 2023, the company generated over $0.7 billion in free cash flow. The company's operating cash flow for the quarter came in at over $1.1 billion. It also paid over $1 billion in dividends to shareholders, which makes it one of the best dividend stocks on our list.Amgen Inc. (NASDAQ:AMGN) offers a quarterly dividend of $2.13 per share and has a dividend yield of 3.80%, as of May 23. The company has been rewarding shareholders with growing dividends since 2011.In May, Jefferies raised its price target on Amgen Inc. (NASDAQ:AMGN) to $325 with a Buy rating on the shares, highlighting the company's acquisition of Horizon Therapeutics.As of the close of Q1 2023, 57 hedge funds in Insider Monkey's database reported having stakes in Amgen Inc. (NASDAQ:AMGN), with a collective value of over $1.68 billion. Two Sigma Advisors was the company's largest stakeholder in Q1.10. McKesson Corporation (NYSE:MCK)Number of Hedge Fund Holders: 60McKesson Corporation (NYSE:MCK) is an American healthcare company that distributes pharmaceuticals and provides related services and products to its customers. On April 27, the company declared a quarterly dividend of $0.54 per share, which was in line with its previous dividend. It has been raising its dividends consistently for the past six years.McKesson Corporation (NYSE:MCK), one of the best dividend stocks, generated $5.2 billion in operating cash flow in its FY23. The company's free cash for the period amounted to over $4.6 billion. Its free cash flow was sufficient to cover the shareholder obligation worth $3.9 billion. The company's revenue amounted to over $276.7 billion for the full year, up 5% from FY22.Following the company's strong earnings growth and updated guidance for FY24, Credit Suisse lifted its price target on the stock to $450 in May and maintained an Outperform rating on the shares.Medtronic plc (NYSE:MDT) was a popular buy among hedge funds in Q1 2023, as 60 elite funds in Insider Monkey's database owned stakes in the company, up from 54 in the previous quarter. The total value of these stakes is roughly $4 billion.Broyhill Asset Management mentioned McKesson Corporation (NYSE:MCK) in its Q4 2022 investor letter. Here is what the firm has to say:“Shares of McKesson Corporation (NYSE:MCK) gained 50% for the twelve months ending December 2022, as opioid-related litigation concerns, which weighed on the stock for years, took a back seat to strong operating performance. When we first established the position in 2018, we explained that, “Although headlines remind us daily of growing threats to the business, the actual probability of this business dramatically changing in the next five years is much lower than the perceived probability. We are simply betting that the future might not be as bad as the price suggests.”Consensus FY22 and FY23 EPS estimates at the time were around $17 – $18 per share. The company reported ~ $24 in earnings in FY22, and is on pace for $26 in FY23, even as consensus estimates for the broader market were repeatedly revised lower. We continued to trim our position throughout the year as shares rerated higher from ~ 8x earnings in FY18 to ~ 16x earnings at recent highs.”9. Gilead Sciences, Inc. (NASDAQ:GILD)Number of Hedge Fund Holders: 60Gilead Sciences, Inc. (NASDAQ:GILD) specializes in the research and development of antiviral drugs. In May, BMO Capital upgraded the stock to Outperform with a $100 price target, acknowledging the company's cell therapy franchise. The firm also appreciated the company's manufacturing capabilities and its tumor oncology business.Gilead Sciences, Inc. (NASDAQ:GILD) offers a quarterly dividend of $0.75 per share and has a dividend yield of 3.82%, as of May 23. The company has been raising its dividends consistently for the past eight years. In the first quarter of 2023, it returned $969 million to shareholders in dividends, which makes it one of the best dividend stocks on our list.At the end of Q1 2023, 60 hedge funds tracked by Insider Monkey owned stakes in Gilead Sciences, Inc. (NASDAQ:GILD), worth collectively nearly $4 billion.Ariel Investments mentioned Gilead Sciences, Inc. (NASDAQ:GILD) in its Q4 2022 investor letter. Here is what the firm has to say:“Biopharmaceutical company Gilead Sciences, Inc. (NASDAQ:GILD. advanced in the quarter on positive data released in a study evaluating Trodelvy versus comparative chemotherapy in patients with metastatic breast cancer. The detailed findings increased investor confidence the drug would receive incremental approvals for a broader range of breast cancer treatments. Shares also received a boost on news the TAF patent portfolio for HIV drugs will be extended from the middle of this decade through the early 2030s, creating greater visibility into the company’s long-term opportunity in the virology market.”8. Bristol-Myers Squibb Company (NYSE:BMY)Number of Hedge Fund Holders: 69Bristol-Myers Squibb Company (NYSE:BMY) is an American pharmaceutical industry company, offering innovative medical solutions to its consumers. The company is one of the best dividend stocks on our list as it maintains a 17-year streak of consistent dividend growth. It pays a quarterly dividend of $0.57 per share and has a dividend yield of 3.43%, as of May 23.In April Credit Suisse maintained a Neutral rating on Bristol-Myers Squibb Company (NYSE:BMY) with a $72 price target, following the company's strong Q1 earnings.As of the close of Q1 2023, 69 hedge funds in Insider Monkey's database reported having stakes in Bristol-Myers Squibb Company (NYSE:BMY), the same as in the previous quarter. These stakes have a consolidated value of over $1.55 billion.7. Eli Lilly and Company (NYSE:LLY)Number of Hedge Fund Holders: 72Eli Lilly and Company (NYSE:LLY) is one of America's oldest pharmaceutical companies. It is widely known for its drugs for clinical depression. In May, Morgan Stanley raised its price target on the stock to $507 and maintained an Overweight rating on the shares. The firm gave a positive outlook on the company's drug trial for Alzheimer's disease.Eli Lilly and Company (NYSE:LLY), one of the best dividend stocks on our list, has been making dividend payments to shareholders for the past 138 years. Moreover, the company holds a 9-year streak of growing its dividends consistently. It currently pays a quarterly dividend of $1.13 per share for a dividend yield of 1.07%, as of May 23.As per Insider Monkey's Q1 2023 database, 72 hedge funds owned stakes in Eli Lilly and Company (NYSE:LLY), down from 76 in the preceding quarter. These stakes are collectively valued at over $3.7 billion.Fred Alger Management mentioned Eli Lilly and Company (NYSE:LLY) in its Q1 2023 investor letter. Here is what the firm has to say:“Eli Lilly and Company (NYSE:LLY) is a global pharmaceutical company with core franchises in diabetes, obesity, neurology, and oncology. The company offered exposure to therapeutics in obesity and diabetes via the launch of Mounjaro, as well as in Alzheimer’s via Donanemab which was filed in November 2022 for accelerated Phase 3 approval in mid-2023. While the company reported decent fiscal fourth quarter results, shares detracted from performance after a modest miss in their obesity and diabetes drug. Mounjaro. Moreover, investors became skeptical of potential regulatory scrutiny around Donanemab and its efficacy relative to Biogen’s competing offering.”6. Pfizer Inc. (NYSE:PFE)Number of Hedge Fund Holders: 73Pfizer Inc. (NYSE:PFE) is an American multinational biotech and pharmaceutical company. In May, Barclays maintained a Neutral rating on the stock with a $40 price target after the company announced its Q1 earnings. The firm expressed concerns about the company's performance due to its new launches this year.Pfizer Inc. (NYSE:PFE), one of the best dividend stocks, currently pays a quarterly dividend of $0.41 per share and has a dividend yield of 4.14%, as of May 23. The company has raised its dividends for 13 years running. It can be a reliable investment option for income investors alongside Johnson & Johnson (NYSE:JNJ), AbbVie Inc. (NYSE:ABBV), and Merck & Co., Inc. (NYSE:MRK).At the end of March 2023, 73 hedge funds tracked by Insider Monkey owned stakes in Pfizer Inc. (NYSE:PFE), with a collective value of roughly $2.2 billion. Diamond Hill Capital mentioned Pfizer Inc. (NYSE:PFE) in its Q3 2022 investor letter. Here is what the firm has to say:“Also among our bottom contributors were health care products manufacturer Abbott Labs, global pharmaceutical company Pfizer Inc. (NYSE:PFE), media and technology giant Alphabet, and insurance company American International Group (AIG). Although Pfizer continues to report strong performance of its core drugs, sales of its COVID vaccine and treatment have likely peaked and sales are expected to decline going forward. We remain optimistic about the company long term as we believe management is taking the company in the right direction, focusing R&D, and making strategic acquisitions with profits generated from COVID vaccine sales.” Click to continue reading and see 5 Best Healthcare Dividend Stocks to Buy.  Suggested articles:10 Large-Cap Stocks with Insider Buying12 Cheap Dividend Stocks With High Yields15 Stocks Warren Buffett SoldDisclosure. None. 14 Best Healthcare Dividend Stocks to Buy is originally published on Insider Monkey.

Insider Monkey

14 Best Healthcare Dividend Stocks to Buy

https://finance.yahoo.com/news/14-best-healthcare-dividend-stocks-133342645.html

812e386f-5cd2-3ee1-a08a-4b6419f8ac42

ABBV

Dividend Kings have excellent track records for dividend growth, and are often seen as some of the safest income investments to own. Two dividend growth stocks that may look tempting and that investors may want to take a closer look at today are AbbVie (NYSE: ABBV) and 3M (NYSE: MMM). Healthcare company AbbVie pays a dividend yield of 4.1%, which is more than double the S&P 500 average of 1.7%.Continue reading

Motley Fool

2 Dividend Kings on Sale That Are Yielding More Than 4%

https://finance.yahoo.com/m/916ee214-0871-3df2-b3a9-14fe1ff706f7/2-dividend-kings-on-sale-that.html

916ee214-0871-3df2-b3a9-14fe1ff706f7

ABBV

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. By way of learning-by-doing, we'll look at ROE to gain a better understanding of AbbVie Inc. (NYSE:ABBV).Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders. See our latest analysis for AbbVie How To Calculate Return On Equity?Return on equity can be calculated by using the formula:Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' EquitySo, based on the above formula, the ROE for AbbVie is:57% = US$7.6b ÷ US$13b (Based on the trailing twelve months to March 2023).The 'return' is the yearly profit. That means that for every $1 worth of shareholders' equity, the company generated $0.57 in profit.Does AbbVie Have A Good ROE?One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. As you can see in the graphic below, AbbVie has a higher ROE than the average (24%) in the Biotechs industry.roeThat is a good sign. Bear in mind, a high ROE doesn't always mean superior financial performance. Especially when a firm uses high levels of debt to finance its debt which may boost its ROE but the high leverage puts the company at risk. You can see the 5 risks we have identified for AbbVie by visiting our risks dashboard for free on our platform here.How Does Debt Impact ROE?Companies usually need to invest money to grow their profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. In the first and second cases, the ROE will reflect this use of cash for investment in the business. In the latter case, the debt used for growth will improve returns, but won't affect the total equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.Story continuesAbbVie's Debt And Its 57% ROEWe think AbbVie uses a significant amount of debt to maximize its returns, as it has a significantly higher debt to equity ratio of 4.70. Its ROE is clearly quite good, but it seems to be boosted by the significant use of debt by the company.ConclusionReturn on equity is useful for comparing the quality of different businesses. In our books, the highest quality companies have high return on equity, despite low debt. If two companies have the same ROE, then I would generally prefer the one with less debt.But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So I think it may be worth checking this free report on analyst forecasts for the company.If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.Join A Paid User Research SessionYou’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here

Simply Wall St.

Is AbbVie Inc.'s (NYSE:ABBV) ROE Of 57% Impressive?

https://finance.yahoo.com/news/abbvie-inc-nyse-abbv-roe-130127350.html

5fc286c5-7f69-37a7-a99b-efcfb9561dbb

ABBV

In this article, we discuss 15 growth stocks to watch in Louis Navellier's 2023 portfolio. If you want to see more stocks in this selection, check out Louis Navellier's 2023 Portfolio: 5 Growth Stocks to Watch. According to a report featured on Markets Insider in October 2022, Louis Navellier of Navellier & Associates said that the S&P 500 is on the verge of significant changes in the upcoming years, with energy stocks gaining increased attention from investors. Navellier predicted that this upward trend will persist, estimating that the energy sector may make up around 30% of the S&P 500 by 2025. This would mark a remarkable surge for an industry that has been overlooked by investors focused on environmental, social, and governance (ESG) factors in recent times. This shift would come at the cost of the technology sector, which, along with communication services, accounted for nearly half of the S&P 500 at its highest point during the pandemic. Navellier said: "I predict that in early 2025, energy stocks will be 30% of the S&P 500 and technology stocks will fall to about only 32%. Tracking managers will be systematically buying energy stocks and a net seller of technology stocks as the sector weights in the S&P 500 change for at least the next couple of years." In an interview with Fox Business on February 21, 2023, Navellier expressed agreement with the idea that the average consumer is facing challenges. He mentioned that the only retailer in his portfolio is Costco Wholesale Corporation (NASDAQ:COST), which he described as more of a luxury goods company that also sells gasoline in large quantities. Navellier pointed out that consumers are under pressure, citing The Home Depot, Inc. (NYSE:HD) and Walmart Inc. (NYSE:WMT) as examples of consumer-focused companies reporting gloomy financial results. During the Fox interview, he commented on the inflated job numbers in January resulting from seasonal patterns and voiced his belief that the labor market will undergo a significant readjustment in the next five months, offering a more accurate and realistic perspective. Navellier also communicated uncertainty about the accuracy of both the job numbers and the sales report for the month of January, as he found discrepancies and believed the figures were significantly inflated. He observed that the combination of seasonal effects, treasury yields, and inflation data failed to provide a satisfactory explanation for the January figures. Nevertheless, he displayed a lack of concern regarding inflation, as his portfolio experienced strong performance primarily due to the presence of plentiful energy stocks.Story continuesLouis Navellier is recognized as a growth-oriented investor who specializes in identifying companies with robust growth potential. Some of the top growth stocks to watch in Navellier's portfolio include NVIDIA Corporation (NASDAQ:NVDA), Enphase Energy, Inc. (NASDAQ:ENPH), and Novo Nordisk A/S (NYSE:NVO). Our Methodology This list consists of growth stocks that Louis Navellier's Navellier & Associates held during the first quarter of 2023. By growth stocks we mean companies operating in growth-oriented industries such as tech, electric vehicles, fintech, ecommerce, biotech and healthcare, and renewable energy. The list is ranked in ascending order of dollar value of the hedge fund's stakes in these companies. We have also mentioned the hedge fund sentiment around the securities as of Q1 2023. Louis Navellier's 2023 Portfolio: 15 Growth Stocks to WatchLouis Navellier of Navellier & AssociatesLouis Navellier's 2023 Portfolio: Growth Stocks to Watch15. Axcelis Technologies, Inc. (NASDAQ:ACLS)Stake Value of Navellier & Associates: $2,389,039Number of Hedge Fund Holders: 34Axcelis Technologies, Inc. (NASDAQ:ACLS) is involved in the creation, production, and maintenance of ion implantation and additional processing machinery utilized in the manufacturing of semiconductor chips across the United States, Europe, and Asia Pacific. In Q1 2023, Louis Navellier's fund held 17,929 shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) worth $2.38 million. On May 3, Axcelis Technologies, Inc. (NASDAQ:ACLS) reported a Q1 GAAP EPS of $1.43 and a revenue of $254.02 million, topping Wall Street estimates by $0.18 and $14.13 million. Axcelis anticipates generating revenues in the range of $255 million to 260 million for the second quarter ending on June 30, 2023. This projection compares to the consensus estimate of $250.39 million.According to Insider Monkey’s first quarter database, 34 hedge funds were long Axcelis Technologies, Inc. (NASDAQ:ACLS), compared to 24 funds in the prior quarter. Richard Driehaus’ Driehaus Capital is the largest position holder in the company, with 728,641 shares worth $97 million. Like NVIDIA Corporation (NASDAQ:NVDA), Enphase Energy, Inc. (NASDAQ:ENPH), and Novo Nordisk A/S (NYSE:NVO), Axcelis Technologies, Inc. (NASDAQ:ACLS) is one of the top growth stocks to watch in Louis Navellier's 2023 portfolio. 14. Booz Allen Hamilton Holding Corporation (NYSE:BAH)Stake Value of Navellier & Associates: $2,641,665Number of Hedge Fund Holders: 34Booz Allen Hamilton Holding Corporation (NYSE:BAH) offers a wide range of services including management and technology consulting, analytics, engineering, digital solutions, mission operations, and cyber services in the United States and internationally. In the first quarter of 2023, Navellier held 28,500 shares of Booz Allen Hamilton Holding Corporation (NYSE:BAH) worth $2.64 million. It is one of the top growth stocks in the Navellier portfolio. After being awarded a contract by the IRS for Enterprise Development Operations Services, Booz Allen Hamilton Holding Corporation (NYSE:BAH) received an Overweight rating and a $116 price target from Morgan Stanley on May 5. The investment firm believes that based on the contract size, duration, and competition, this project could generate approximately $100 million in annual revenue, contributing to a growth of around 1% compared to Booz Allen Hamilton Holding Corporation (NYSE:BAH)’s current levels. Additionally, Morgan Stanley highlighted that this contract value might help safeguard some of Booz Allen's existing work with the IRS, which was previously at risk due to the TCloud outcome earlier in 2023.According to Insider Monkey’s first quarter database, 34 hedge funds were long Booz Allen Hamilton Holding Corporation (NYSE:BAH), compared to 36 funds in the prior quarter. Woodline Partners is the biggest stakeholder of the company. 13. Fortinet, Inc. (NASDAQ:FTNT)Stake Value of Navellier & Associates: $3,176,256Number of Hedge Fund Holders: 45Fortinet, Inc. (NASDAQ:FTNT) is a provider of cybersecurity and networking solutions worldwide. The company offers FortiGate hardware and software licenses, which encompass a wide range of security and networking capabilities such as firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam, and wide area network acceleration. In Q1 2023, Louis Navellier had 47,792 shares of Fortinet, Inc. (NASDAQ:FTNT) in his portfolio, worth $3.17 million and representing 0.66% of the total 13F securities. On May 8, BofA upgraded Fortinet, Inc. (NASDAQ:FTNT) to Buy from Neutral with a price target of $75, up from $66. According to BofA, the company's strong fundamentals and consistent execution in a challenging environment justify a premium compared to its peers in the cybersecurity industry. The firm acknowledged the existence of backlog drawdowns but believes that Fortinet, Inc. (NASDAQ:FTNT)’s business momentum outweighs these concerns, as there is a robust underlying demand that reflects the significant value Fortinet provides to its customers.According to Insider Monkey’s first quarter database, 45 hedge funds were long Fortinet, Inc. (NASDAQ:FTNT), compared to 47 funds in the prior quarter. Andreas Halvorsen’s Viking Global is the biggest stakeholder of the company. Here is what ClearBridge SMID Cap Growth Strategy has to say about Fortinet, Inc. (NASDAQ:FTNT) in its Q3 2021 investor letter:“Performance among our cohort of IT and Internet companies was mixed, with enterprise software makers thriving while more consumer-oriented stocks faced headwinds. Cyber security software maker Fortinet benefited from a heightened awareness of the need to protect against sophisticated attacks. We are attracted to the recurring revenue nature of these software companies that are increasingly delivering their products on a subscription basis through the cloud. Software business models also tend to avoid many of the inflationary issues facing companies with a physical product or service.”12. Apple Inc. (NASDAQ:AAPL)Stake Value of Navellier & Associates: $3,335,432Number of Hedge Fund Holders: 131Louis Navellier's 2023 portfolio had 20,227 shares of Apple Inc. (NASDAQ:AAPL), worth $3.3 million and representing 0.7% of the 13F securities. On May 4, Apple Inc. (NASDAQ:AAPL) announced an additional program to buy back up to $90 billion of its stock.On May 22, Loop Capital downgraded Apple Inc. (NASDAQ:AAPL) to Hold from Buy with an unchanged price target of $180. Apple Inc. (NASDAQ:AAPL) has recently lowered its iPhone production and shipment forecasts for the second time in the past four weeks. The analyst suggests that Apple has reduced its June quarter builds and shipments by approximately 10%, in addition to the reduced guidance provided by the company on May 4. This reduction poses a significant downside risk to Apple's June quarter revenue, both in comparison to its own guidance and the estimates of the Street. Loop Capital also believes that Apple Inc. (NASDAQ:AAPL) has further decreased its estimated iPhone shipments for the June quarter by an additional 5 million units to reach a total of 35 million units.According to Insider Monkey’s fourth quarter database, 131 hedge funds were long Apple Inc. (NASDAQ:AAPL), compared to 135 funds in the earlier quarter. Warren Buffett’s Berkshire Hathaway is the largest stakeholder of the company, with 915.5 million shares worth $151 billion. Alger Spectra Fund made the following comment about Apple Inc. (NASDAQ:AAPL) in its Q1 2023 investor letter:“Apple Inc. (NASDAQ:AAPL) is a leading technology provider in telecommunications, computing, and services. Apple’s iOS operating system is the company’s unique intellectual property and competitive strength. This software drives particularly tight engagement with consumers and enterprises, which is fostering the growing purchase of high margin services like music, apps, and Apple Pay. While iPhone sales were down year-over-year (YoY). services revenues grew 7% YoY which was slightly above analyst estimates. Company earnings were also better-than-anticipated due to lower input costs, such as memory chips and cost control initiatives. Aside from production disruptions, negative sentiment had also weighed on shares as investors questioned how an economic slowdown would affect consumer demand for Apple products in 2023. However, management projected an acceleration in earnings for the fiscal first quarter, where they noted that iPhone and services growth should remain strong, along with encouraging impacts around product mix, lower input costs, and continued cost controls.”11. Agilent Technologies, Inc. (NYSE:A)Stake Value of Navellier & Associates: $3,781,662Number of Hedge Fund Holders: 55Agilent Technologies, Inc. (NYSE:A) offers specialized solutions for life sciences, diagnostics, and applied chemical markets worldwide. Its operations are divided into three main segments – Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab. In Q1 2023, Louis Navaellier added Agilent Technologies, Inc. (NYSE:A) to his portfolio by purchasing 27,336 shares worth $3.78 million. On May 23, Agilent Technologies, Inc. (NYSE:A) reported FQ2 non-GAAP EPS of $1.27 and a revenue of $1.72 billion, topping Wall Street estimates by $0.01 and $50 million, respectively. Barclays analyst Luke Sergott initiated coverage of Agilent Technologies, Inc. (NYSE:A) with an Equal Weight rating and a $140 price target on May 11. According to Insider Monkey’s first quarter database, 55 hedge funds were bullish on Agilent Technologies, Inc. (NYSE:A), compared to 48 funds in the prior quarter. William Von Mueffling’s Cantillon Capital Management is the biggest stakeholder of the company. Cooper Investors made the following comment about Agilent Technologies, Inc. (NYSE:A) in its Q4 2022 investor letter:“Agilent Technologies, Inc. (NYSE:A) finished a great year with +12% organic growth after a +15% year in 2021. As a supplier of liquid chromatography/ mass spectrometry instruments into the life sciences industry, Agilent enjoyed a period of supernormal growth over the 2020-2021 COVID pandemic. Like several of our healthcare and diagnostics investments Agilent de-rated quite sharply in the first half of 2022 as the market ‘faded’ the decline in COVID testing revenues. In our view this short term volatility obscures the high quality of Agilent’s business and long term growth opportunities. One example is environmental testing as mandated by the US EPA where US$4bn of funding in the infrastructure bill has been put aside for PFAS testing. As CEO Mike McMullen noted on the last call, ‘it’s the first time in my career we’ve seen this kind of government money coming in’.”10. ExlService Holdings, Inc. (NASDAQ:EXLS)Stake Value of Navellier & Associates: $3,959,171Number of Hedge Fund Holders: 24ExlService Holdings, Inc. (NASDAQ:EXLS) operates globally and specializes in data analytics, digital operations, and providing solutions to different industries. The company is divided into four segments – Insurance, Healthcare, Analytics, and Emerging Business. Securities filings for the first quarter of 2023 reveal that Louis Navellier's hedge fund owned 24,465 shares of ExlService Holdings, Inc. (NASDAQ:EXLS) worth $3.95 million, representing 0.83% of the total 13F securities. It is one of the top growth stocks to watch in Navellier’s portfolio. On April 28, TD Cowen analyst Bryan Bergin raised the firm's price target on ExlService Holdings, Inc. (NASDAQ:EXLS) to $195 from $190 and kept an Outperform rating on the shares. The analyst noted that ExlService Holdings, Inc. (NASDAQ:EXLS) delivered impressive results in the first quarter, surpassing expectations in both Digital Operations and Analytics. The company's resilient value proposition and strong overall momentum have allowed it to overcome challenges in discretionary areas, the analyst wrote in a research note. According to Insider Monkey’s first quarter database, 24 hedge funds were long ExlService Holdings, Inc. (NASDAQ:EXLS), and James Parsons’ Junto Capital Management held the largest stake in the company, comprising 138,123 shares worth $22.35 million. Here is what Bernzott Capital US Small Cap Value Fund has to say about ExlService Holdings, Inc. (NASDAQ:EXLS) in its Q1 2022 investor letter:“ExlService Holdings (NASDAQ:EXLS): After approximately four years of ownership, this provider of offshore business process outsourcing solutions was sold from the portfolio as it achieved fair value. During our period of ownership, the stock almost tripled in value and significantly outperformed the Russell 2000 Value index.”9. Allegro MicroSystems, Inc. (NASDAQ:ALGM)Stake Value of Navellier & Associates: $3,977,891Number of Hedge Fund Holders: 25Allegro MicroSystems, Inc. (NASDAQ:ALGM) specializes in the design, development, manufacturing, and marketing of integrated circuits (ICs). The company’s ICs are specifically designed for sensors and application-specific analog power systems, with a focus on motion control and energy-efficient applications. Allegro MicroSystems, Inc. (NASDAQ:ALGM) was a new arrival in Navellier & Associates’ Q1 2023 portfolio, with the hedge fund buying 82,890 shares valued at $3.97 million. It is one of the top growth stocks to watch in Louis Navellier's portfolio. Following strong financial results in the March quarter, Mizuho analyst Vijay Rakesh increased the price target on Allegro MicroSystems, Inc. (NASDAQ:ALGM) to $50 from $48 and maintained a Buy rating on the shares on May 12. According to Insider Monkey’s first quarter database, 25 hedge funds were bullish on Allegro MicroSystems, Inc. (NASDAQ:ALGM), compared to 15 funds in the earlier quarter. Ken Griffin’s Citadel Investment Group is the largest stakeholder of the company. Artisan Small Cap Fund made the following comment about Allegro MicroSystems, Inc. (NASDAQ:ALGM) in its Q1 2023 investor letter:“Among our top contributors were Lattice Semiconductor, Monolithic Power Systems, Allegro MicroSystems, Inc. (NASDAQ:ALGM), HubSpot and Wingstop. A strong area of the portfolio was our semiconductor holdings as Lattice Semiconductor, Monolithic Power Systems and Allegro Microsystems each outperformed. This is an area of the market where we have historically found many compelling opportunities, and we believe it continues to be an attractive area for long-term capital. Our high-level thesis is that industry consolidation is driving profitability improvements which, combined with top-line demand growth drivers, are breeding many interesting profit cycles. Please read our latest semiconductor industry white paper to dive into our thoughts on the industry. After the strong performance in the quarter, we trimmed Lattice Semiconductor in order to manage the position size and also trimmed Monolithic Power Systems due to the company outgrowing our small-cap mandate.”8. Eli Lilly and Company (NYSE:LLY)Stake Value of Navellier & Associates: $4,475,106Number of Hedge Fund Holders: 72Eli Lilly and Company (NYSE:LLY) is a global pharmaceutical company engaged in the discovery, development, and marketing of pharmaceutical products. In Q1 2023, Louis Navellier owned 13,031 shares of Eli Lilly and Company (NYSE:LLY) worth $4.47 million, representing 0.94% of the 13F securities. It is one of the top growth stocks to watch in Navellier's portfolio. On May 4, BMO Capital raised its price target on Eli Lilly and Company (NYSE:LLY) from $430 to $505 and maintained an Outperform rating on the shares. The firm is optimistic about the potential success of Eli Lilly and Company (NYSE:LLY)’s Donanemab in treating ALZ2, which positions it as a strong competitor to Biogen's Leqembi. This success is seen as an opportunity for investors to benefit from increased share value. BMO Capital has also revised its peak sales estimates for Donanemab, projecting sales of $17 billion, up from the previous estimate of $9.6 billion.According to Insider Monkey’s first quarter database, 72 hedge funds were bullish on Eli Lilly and Company (NYSE:LLY), compared to 76 funds in the earlier quarter. Rajiv Jain’s GQG Partners is the largest stakeholder of the company, with a position worth $1.02 billion. Baron Health Care Fund made the following comment about Eli Lilly and Company (NYSE:LLY) in its Q1 2023 investor letter:“In pharmaceuticals, our largest investment continues to be in Eli Lilly and Company (NYSE:LLY). Lilly’s new diabetes drug Mounjaro is likely to be approved for obesity in 2023. Lilly has two new obesity drugs advancing into Phase 3 trials. Lilly also has a drug in late-stage development for Alzheimer’s disease. Lilly is not facing any significant near-term patent expirations, and we think the company should be able to grow revenue and earnings at attractive rates through the end of the decade and beyond.”7. Arista Networks, Inc. (NYSE:ANET)Stake Value of Navellier & Associates: $4,672,887Number of Hedge Fund Holders: 48Arista Networks, Inc. (NYSE:ANET) specializes in the development, marketing, and sale of cloud networking solutions. Arista Networks, Inc. (NYSE:ANET)’s cloud networking solutions encompass flexible operating systems, a range of network applications, and advanced gigabit Ethernet switching and routing platforms. In Q1 2023, Louis Navellier's fund held 27,838 shares of Arista Networks, Inc. (NYSE:ANET) worth $4.6 million. It is one of the top growth stocks to invest in according to Navaellier. On May 24, Argus analyst Jim Kelleher increased the price target on Arista Networks, Inc. (NYSE:ANET) from $175 to $195 while maintaining a Buy rating on the shares. Kelleher explained that although cloud titan spending is anticipated to decrease in 2023 after experiencing over 100% growth in 2022, Arista Networks, Inc. (NYSE:ANET) is expected to witness improvements in gross margin and operating margins throughout the year. The analyst highlighted that Arista Networks, Inc. (NYSE:ANET) has effectively managed the challenges posed by the supply-chain crisis and is successfully navigating through macroeconomic weaknesses, customer caution, cost inflation, and the digestion of cloud titan inventory. Furthermore, the company has been expanding its range of solutions and increasing its total addressable market, the analyst wrote in a research note. According to Insider Monkey’s first quarter database, 48 hedge funds were bullish on Arista Networks, Inc. (NYSE:ANET), compared to 53 funds in the prior quarter. Steve Cohen’s Point72 Asset Management is the biggest stakeholder of the company. Giverny Capital made the following comment about Arista Networks, Inc. (NYSE:ANET) in its Q1 2023 investor letter:“Our holding Arista Networks, Inc. (NYSE:ANET) continues to generate extraordinary results, which the market recognizes. Arista rose 38% during the first quarter and became our largest holding. Arista makes switches, routers and operating software that power enormous data networks, such as for cloud computing. Microsoft’s Azure cloud business and Meta Platforms’ Facebook and Instagram networks are Arista’s two most important customers. Roughly speaking, Arista has tripled its revenue and profit over the past five years and seems poised to continue growing rapidly for the foreseeable future. Demand for hyperscale computing networks may accelerate as artificial intelligence (AI) chat applications grow. By some estimates, the computer power required to answer Al chat queries is roughly seven times more than for a Google or Bing search. I think the realization that data network capacity needs to be much larger to accommodate Al has driven recent enthusiasm for Arista.In general, I think when a stock blows through my price target the right answer is to bask in the glory and maybe splurge on a latte rather than my usual morning coffee. Don’t get itchy about locking in a profit. In this case, Arista became our largest holding and roughly 8.5% of the portfolio, while also being one of the most expensive businesses we own on a price-to-earnings basis. Arista earned $4.27 in 2022 and I believe there is good reason to expect it to double EPS again, perhaps by 2026 or 2027. But as the stock traded into the $160s, that represents a PE of 20x estimated earnings in four years. While I believe strongly in Arista’s competitive position, I know that tech giants are facing budget constraints and a pause in their own intense pace of infrastructure growth would not surprise anyone….” (Click here to read the full text)6. AbbVie Inc. (NYSE:ABBV)Stake Value of Navellier & Associates: $4,717,671Number of Hedge Fund Holders: 75AbbVie Inc. (NYSE:ABBV) is a pharmaceutical company involved in the discovery, development, manufacturing, and sale of pharmaceutical products across the world. Securities filings for Q1 2023 reveal that Louis Navellier owned 29,602 shares of $4.7 million.On April 28, Guggenheim maintained a Buy rating on AbbVie Inc. (NYSE:ABBV) but slightly lowered its price target on the shares from $172 to $171. Although AbbVie's Q1 results exceeded management guidance and aligned with the firm's estimates, the stock experienced an 8% decline primarily due to weaker performance in key growth drivers Skyrizi and Rinvoq, according to the firm. However, after analyzing management commentary during the conference call and conducting a follow-up call with the team, the firm expressed minimal concern and stated that no changes are being made to their short- or long-term estimates for either product.According to Insider Monkey’s first quarter database, 75 hedge funds were long AbbVie Inc. (NYSE:ABBV), compared to 73 funds in the last quarter. Ken Griffin’s Citadel Investment Group is the largest stakeholder of the company. In addition to NVIDIA Corporation (NASDAQ:NVDA), Enphase Energy, Inc. (NASDAQ:ENPH), and Novo Nordisk A/S (NYSE:NVO), AbbVie Inc. (NYSE:ABBV) is one of the top growth stocks on Louis Navellier's radar. Baron Health Care Fund made the following comment about AbbVie Inc. (NYSE:ABBV) in its Q1 2023 investor letter:“In a difficult quarter during which the Health Care sector failed to participate in the broader market rally, Baron Health Care Fund modestly trailed the Benchmark by 42 basis points, as disappointing stock selection overshadowed favorable impacts from differences in sub-industry weights and cash exposure. Lower exposure to benchmark heavyweight AbbVie Inc. (NYSE:ABBV) and declines in Cytokinetics, Incorporated, Ascendis Pharma A/S, and Inhibrx, Inc. also weighed on performance in the sub-industry. We reduced our position in AbbVie Inc. due to our less optimistic view of the company’s pipeline and long-term growth profile.” Click to continue reading and see Louis Navellier's 2023 Portfolio: 5 Growth Stocks to Watch.  Suggested articles:14 Best Biotech Stocks To Buy15 Largest Potash Producing Countries in the World10 Best Value Stocks to Buy in 2023 According to Billionaire Mario Gabelli Disclosure: None. Louis Navellier's 2023 Portfolio: 15 Growth Stocks to Watch is originally published on Insider Monkey.

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Louis Navellier’s 2023 Portfolio: 15 Growth Stocks to Watch

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ABBV

In this article, we discuss 10 best June dividend stocks to buy now. You can skip our detailed analysis of dividend stocks and their performance over the years, and go directly to read 5 Best June Dividend Stocks To Buy. Apart from their significant contribution to the market’s overall returns, dividend stocks can also potentially be beneficial in an inflationary environment. In 2022, consistent interest rates hike jolted the market, which made investors seek solace in the dividend stocks with growth potential. The S&P 500 declined by over 18% last year, compared with a 6.21% drop in the S&P 500 Dividend Aristocrats, an index that tracks the performance of the S&P 500 companies with at least 25 years of consistent dividend growth.The popularity of dividend stocks has varied over time based on market conditions and investor preferences. Investments in growth stocks surged in the early 2000s because investors were drawn to companies with high growth potential, even if they didn’t offer any dividends. However, with the onset of the Global Financial Crisis of 2008, dividend stocks witnessed a renewed interest. CNBC reported that the S&P 500 companies paid $207 billion to investors in dividends in 2010, showing a 5.6% growth from 2009. The amount has grown tremendously over the years, reaching its record high of $561 billion in 2022, as reported by S&P Dow Jones Indices.The continuous growth in dividend payments throughout these years shows that investments in dividend-growth stocks can be a reliable option during different market conditions. These stocks can be a hedge against inflation and can also offer long-term capital appreciation potential. Various studies have highlighted that dividend growth has outpaced inflation historically. In 25 Things Every Dividend Investor Should Know, we cited BlackRock’s data, which revealed that dividends paid by US companies from 1971 to 2021 grew by 3.7% per year on average, compared with a 2% growth in inflation per year.Story continuesAnalysts also advise investing in companies with strong dividend growth track records. Kristen Bitterly, head of North America for Citi Global Wealth, spoke with Bloomberg about the importance of dividend growers. She said that her firm prefers well-established companies that are less sensitive to changes in economic conditions. She further mentioned that dividend aristocrats have outperformed the market in 25 of the last 32 years. McDonald’s Corporation (NYSE:MCD), AbbVie Inc. (NYSE:ABBV), and Chevron Corporation (NYSE:CVX) are some of the best dividend stocks that have consistently rewarded shareholders with growing dividends.Also read: 15 Best Large-Cap Dividend Growth Stocks To Buy NowThe Dividend Capture StrategyIn addition to investing in dividend growers to generate regular income, investors also follow a dividend capture strategy. The method involves buying dividend stocks just before their ex-dividend dates and selling shortly after. Through this, investors can capture dividend payments without necessarily holding the stock for the long term. To learn more about this, readers can have a look at Dividend Capture Strategy Stocks To Buy.Best June Dividend Stocks To BuyPhoto by Karolina Grabowska from Pexels Our Methodology:For this list, we selected prominent dividend stocks that will trade ex-dividend in June 2023. Ex-dividend date indicates the cutoff day to buy a stock to receive its upcoming dividend payment. The list is ranked chronologically, with earlier dates appearing first and later dates following in order.10. The Allstate Corporation (NYSE:ALL)Ex-Dividend Date: June 1 Dividend Yield as of May 27: 3.25%The Allstate Corporation (NYSE:ALL) is an Illinois-based insurance company that specializes in supplemental insurance coverage. In the first quarter of 2023, the company reported revenues of $13.8 billion, which beat analysts' estimates by $110 million. Its net investment income for the quarter came in at $575 million. The stock will be trading ex-dividend on June 1.On May 22, The Allstate Corporation (NYSE:ALL) declared a quarterly dividend of $0.89 per share, which was in line with its previous dividend. In 2023, the company stretched its dividend growth streak to 15 years, which makes it one of the best dividend stocks on our list. The stock has a dividend yield of 3.25%, as of May 27.In addition to ALL, McDonald’s Corporation (NYSE:MCD), AbbVie Inc. (NYSE:ABBV), and Chevron Corporation (NYSE:CVX) are some other best dividend stocks to consider.The Allstate Corporation (NYSE:ALL) attracted positive ratings from Street analysts after posting strong quarterly earnings. In May, BofA lifted its price target on the stock to $149 and kept a Buy rating on the shares.The Allstate Corporation (NYSE:ALL) was a popular buy among hedge funds at the end of Q1 2023, as 49 hedge funds in Insider Monkey's database owned stakes in the company, up from 37 a quarter earlier. These stakes have a collective value of over $692 million.Diamond Hill Capital made the following comment about The Allstate Corporation (NYSE:ALL) in its Q1 2023 investor letter.“Elsewhere in financials, the stocks of two of our insurance holdings – AIG and The Allstate Corporation (NYSE:ALL) – came under pressure we believe due to the negative sentiment in the sector generally. These businesses are very different from banks, and we continue to have strong conviction in their ability to grow intrinsic value over the long term. In fact, Allstate is a new position that we added to the portfolio in Q1. It is one of the largest providers of auto and homeowners’ insurance in the United States. Allstate has a strong brand and significant scale advantages over smaller peers. Recent results have been pressured by rising claims costs across the industry; however, we believe that price changes instituted by the company will drive improvement to more normalized levels over the next couple of years.”9. McDonald's Corporation (NYSE:MCD)Ex-Dividend Date: June 2 Dividend Yield as of May 27: 2.13%McDonald's Corporation (NYSE:MCD) is a multinational fast food chain that deals in a wide range of other menu items. Loop Capital reiterated its Buy rating on the stock in May with a $346 price target, noting the company's same-store sales growth over the past quarters. MCD is among the best dividend stocks on our list.In the first quarter of 2023, McDonald's Corporation (NYSE:MCD) reported a 12.6% year-over-year growth in its global comparable sales. The company's revenue for the quarter amounted to roughly $6 billion, which showed a 4.10% growth from the same period last year. Its ex-dividend date is June 2.McDonald's Corporation (NYSE:MCD) pays a quarterly dividend of $1.52 per share for a dividend yield of 2.13%, as recorded on May 27. The company has been growing its dividends for 46 years running.At the end of Q1 2023, 64 hedge funds tracked by Insider Monkey reported having stakes in McDonald's Corporation (NYSE:MCD), up from 57 in the previous quarter. These stakes have a consolidated value of over $4 billion.8. Brown-Forman Corporation (NYSE:BF-B)Ex-Dividend Date: June 7 Dividend Yield as of May 27: 1.33%Brown-Forman Corporation (NYSE:BF-B) is next on our list of the best dividend stocks for June. The American distilleries company announced a $0.2055 per share in quarterly dividends on May 25. It has been making regular dividend payments to shareholders for the past 79 years while maintaining a 39-year streak of dividend growth. The stock has a dividend yield of 1.33%, as of May 27.In fiscal Q3 2023, Brown-Forman Corporation (NYSE:BF-B) generated $1.08 billion in revenues, which saw a 3.8% growth from the prior-year period. The company's operating cash flow for the quarter stood at $410 million. BF-B will be going ex-dividend on June 7.As of the close of Q1 2023, 29 hedge funds in Insider Monkey's database reported having stakes in Brown-Forman Corporation (NYSE:BF-B), worth over $1.5 billion collectively. With over 12.2 million shares, Fundsmith LLP was the company's leading stakeholder in Q1.7. Altria Group, Inc. (NYSE:MO)Ex-Dividend Date: June 14 Dividend Yield as of May 27: 8.43%Altria Group, Inc. (NYSE:MO) is a Virginia-based company that specializes in the production of cigarettes, tobacco, and other related products. The company is among the best dividend stocks on our list because of it has remained committed to its shareholder obligation over the years. In the first quarter of 2023, the company returned $1.7 billion to shareholders in dividends.Altria Group, Inc. (NYSE:MO) is a Dividend King with 53 years of consistent dividend growth. The company currently pays a quarterly dividend of $0.94 per share and has an above-average high dividend yield of 8.43%, as of May 27.Stifel initiated its coverage on Altria Group, Inc. (NYSE:MO) with a Buy rating and a $52 price target. The firm acknowledged the company's earnings growth and investments in smoke-free developments.At the end of March 2023, 49 hedge funds tracked by Insider Monkey owned positions in Altria Group, Inc. (NYSE:MO), up from 45 in the previous quarter. These stakes have a total value of over $1.13 billion.Here is what Broyhill Asset Management said about Altria Group, Inc. (NYSE:MO) in its Q4 2022 investor letter.“We rebalanced our tobacco exposure during the year, reducing our investment in Altria Group, Inc. (NYSE:MO) as the future of the company’s combustible cigarette business became increasingly questionable given pending US legislation and a lackluster portfolio of reduced risk products. We reinvested the proceeds in Philip Morris so that relative position sizing is more consistent with our increased conviction.”6. Best Buy Co., Inc. (NYSE:BBY)Ex-Dividend Date: June 14 Dividend Yield as of May 27: 4.95%Best Buy Co., Inc. (NYSE:BBY) is a Minnesota-based consumer electronics company. Truist kept its Buy rating on the stock in May with a $77 price target, following the company's recent quarterly earnings. DA Davidson also maintained its Buy rating on BBY this month.On May 26, Best Buy Co., Inc. (NYSE:BBY) declared a quarterly dividend of $0.92 per share, which was consistent with its previous dividend. In March 2023, the company lifted its dividend for the tenth consecutive year. With a high dividend yield of 4.95%, BBY is one of the best dividend stocks on our list and it will be going ex-dividend on June 14.Other best dividend stocks that are grabbing investors' attention include McDonald’s Corporation (NYSE:MCD), AbbVie Inc. (NYSE:ABBV), and Chevron Corporation (NYSE:CVX).According to Insider Monkey's Q1 2023 database, 40 hedge funds owned investments in Best Buy Co., Inc. (NYSE:BBY), up from 33 in the previous quarter. These stakes are collectively worth over $491.4 million. AQR Capital Management was the company's largest stakeholder in Q1. Click to continue reading and see 5 Best June Dividend Stocks To Buy.  Suggested articles:Analysts are Upgrading These 10 Stocks14 Best Biotech Stocks To Buy15 Best Artificial Intelligence (AI) Stocks To BuyDisclosure. None. 10 Best June Dividend Stocks To Buy is originally published on Insider Monkey.

Insider Monkey

10 Best June Dividend Stocks To Buy

https://finance.yahoo.com/news/10-best-june-dividend-stocks-105218462.html

d5d1f8eb-7347-345f-832c-0df8ba4af3ca

ABBV

AbbVie (ABBV) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this drugmaker have returned -9%, compared to the Zacks S&P 500 composite's +3.9% change. During this period, the Zacks Large Cap Pharmaceuticals industry, which AbbVie falls in, has lost 2%. The key question now is: What could be the stock's future direction?While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.AbbVie is expected to post earnings of $2.93 per share for the current quarter, representing a year-over-year change of -13.1%. Over the last 30 days, the Zacks Consensus Estimate has changed +2.9%.The consensus earnings estimate of $10.97 for the current fiscal year indicates a year-over-year change of -20.3%. This estimate has changed +0.3% over the last 30 days.Story continuesFor the next fiscal year, the consensus earnings estimate of $11.04 indicates a change of +0.6% from what AbbVie is expected to report a year ago. Over the past month, the estimate has changed +0.4%.With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for AbbVie.The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:12 Month EPS12-month consensus EPS estimate for ABBV _12MonthEPSChartUrlProjected Revenue GrowthEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.In the case of AbbVie, the consensus sales estimate of $13.52 billion for the current quarter points to a year-over-year change of -7.3%. The $52.57 billion and $53.08 billion estimates for the current and next fiscal years indicate changes of -9.5% and +1%, respectively.Last Reported Results and Surprise HistoryAbbVie reported revenues of $12.23 billion in the last reported quarter, representing a year-over-year change of -9.7%. EPS of $2.46 for the same period compares with $3.16 a year ago.Compared to the Zacks Consensus Estimate of $12.08 billion, the reported revenues represent a surprise of +1.17%. The EPS surprise was +0.82%.The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates just once over this period.ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.AbbVie is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about AbbVie. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

AbbVie Inc. (ABBV) is Attracting Investor Attention: Here is What You Should Know

https://finance.yahoo.com/news/abbvie-inc-abbv-attracting-investor-130011436.html

e63110eb-3c11-3dd0-8135-19b902d85737

ABBV

-  At week 24, upadacitinib 30 mg given alone or as a combination therapy (ABBV-599 high dose [elsubrutinib 60 mg and upadacitinib 30 mg]) met the primary endpoint of systemic lupus erythematosus (SLE) Responder Index (SRI-4) and steroid dose less than or equal to 10 mg prednisone equivalent once per day in patients with moderately to severely active SLE receiving standard lupus therapies1-  Upadacitinib maintained greater improvements in SLE disease activity at week 48 as measured by the British Isles Lupus Assessment Group-Based Composite Lupus Assessment (BICLA), SRI-4, Lupus Low Disease Activity State (LLDAS) and lupus flares compared with placebo2-  No new safety signals were observed beyond the known safety profile for upadacitinib. Types of adverse events reported with ABBV-599 high dose were similar to those reported for patients treated with upadacitinib alone2-  Study results are being presented as an oral presentation at the European Congress of Rheumatology, EULAR 2023NORTH CHICAGO, Ill., May 31, 2023 /PRNewswire/ -- AbbVie (NYSE: ABBV) today announced the results of the Phase 2 SLEek study evaluating upadacitinib (RINVOQ® 30 mg) alone and in combination [ABBV-599 high dose (elsubrutinib 60 mg and upadacitinib 30 mg)] in adults with moderately to severely active systemic lupus erythematosus (SLE) who continued to receive standard lupus therapies. The study results are being presented as an oral presentation during the European Congress of Rheumatology, EULAR 2023.In the Phase 2 SLEek study, a greater proportion of patients receiving upadacitinib 30 mg or ABBV-599 high dose achieved the primary endpoint, SLE Responder Index (SRI-4) and steroid dose less than or equal to 10 mg prednisone equivalent once per day at week 24, compared to placebo (54.8 percent; p=0.028 and 48.5 percent; p=0.081* versus 37.3 percent, respectively).1 SRI-4 and steroid dose less than or equal to 10 mg prednisone equivalent per day assess reductions in disease activity and glucocorticoid use, respectively.3Story continues"There are limited treatment options for people living with SLE, leaving physicians challenged on how to effectively slow disease progression and limit potential organ damage in their patients," said Roopal Thakkar, M.D., senior vice president, development and regulatory affairs and chief medical officer, AbbVie. "As a leader in immunology, AbbVie is committed to advancing care in areas of unmet need, such as SLE. We are encouraged by these positive Phase 2 data and look forward to continuing to study upadacitinib for systemic lupus erythematosus in two Phase 3 trials as part of our ongoing clinical program."Key secondary endpoints were also achieved at week 48 in both active treatment groups, including lupus flares measured by the Safety of Estrogens in Lupus Erythematosus National Assessment (SELENA) Systemic Lupus Erythematosus Disease Activity Index (SLEDAI) Flare Index (SFI) and time to first flare, which showed greater treatment effect in the upadacitinib 30 mg and ABBV-599 high dose groups compared to placebo.2 Other measures of disease activity and treatment response were also met, including achievement of BICLA response, SRI-4, and Lupus Low Disease Activity State (LLDAS) in the upadacitinib 30 mg and ABBV-599 high dose groups compared to placebo.2Efficacy Results at Week 482EndpointPBO (N=75)UPA 30 mg (N=62)ABBV-599 HD (N=68)Flares per SELENA SLEDAI Flare IndexOverall flares; Events/PY2.82.01.5Adj. Diff** (- PBO) [95% CI], p-value-0.78 [-1.37, -0.20], p=0.008-1.3 [-1.84, -0.76], p<0.001BICLAWeek 48; n (%)19 (25.3)33 (53.2)33 (48.5)Adj. Diff** (- PBO) [95% CI], p-value30.8 [17.6, 44.1], p<0.00122.9 [9.3, 36.4], p<0.001SRI-4 and steroid dose ≤ 10 mg QDWeek 48; n (%)24 (32.0)28 (45.2)35 (51.5)Adj. Diff** (- PBO) [95% CI], p-value13.4 [-1.4, 28.2], p=0.07518.5 [4.1, 32.9], p=0.012LLDASWeek 48; n (%)18 (24.0)31 (50.0)27 (39.7)Adj. Diff** (- PBO) [95% CI], p-value26.6 [12.9, 40.4], p<0.00114.6 [1.3, 27.9], p=0.031*For statistical analyses of efficacy assessments, the prespecified 2-sided alpha level was 0.1, without multiplicity control**Adj. Diff: stratum-adjusted treatment difference except for the flares, which were summarized as observed. P-values for treatment difference were based on the CMH test for categorical endpoints and MMRM for continuous endpoints, controlling for stratification factors and based on the normal approximation for flare rate through week 48.SLE—the most common type of lupus—is an autoimmune disease where the immune system attacks its own tissues, causing widespread inflammation and tissue damage in the affected organs.4 It can impact the joints, skin, brain, lungs, kidneys and blood vessels, causing a variety of symptoms, including fatigue, skin rashes, fevers, and pain and swelling in the joints.4 Disease activity in lupus—often called flares—is unpredictable.5 Flares can appear without warning, come and go and vary in severity—serious flares can cause organ damage and require medical attention.6"Lupus is an imbalance in the immune system caused by a diverse set of inherited and environmental factors. It impacts over three million people around the world and causes an overlapping spectrum of symptoms," said Joan Merrill, M.D., Oklahoma Medical Research Foundation, Arthritis & Clinical Immunology Research Program. "To achieve sustainable progress with SLE, we need more treatment options for patients with this disease."No new safety signals were observed beyond the known safety profile for upadacitinib.2 Types of adverse events reported with ABBV-599 high dose were similar to those reported for patients treated with upadacitinib alone.2 The rate of treatment emergent adverse events (TEAEs) in this study were similar across groups (ABBV-599 at 86.8 percent, upadacitinib at 82.3 percent and placebo at 78.7 percent).2 Serious AEs were reported in 10.3 percent of patients in the ABBV-599 high dose, 21.0 percent in upadacitinib 30 mg, and 17.3 percent in placebo groups.2 Adjudicated cardiovascular events were reported in one patient in each of the three treatment groups.2 There were no reports of malignancies or venous thromboembolic events.2 The use of upadacitinib and elsubrutinib in SLE are not approved and their safety and efficacy have not been evaluated by regulatory authorities.About the SLEek Phase 2 StudyIn the SLEek Phase 2 study, 341 patients undergoing standard lupus therapy were randomized to receive once daily ABBV-599 high dose, ABBV-599 low dose (elsubrutinib 60 mg plus upadacitinib 15 mg), elsubrutinib 60 mg, upadacitinib 30 mg or placebo.2 After a planned interim analysis when 50 percent of patients reached week 24 or withdrew from the study, the ABBV-599 low dose and elsubrutinib 60 mg arms were discontinued for lack of efficacy. 205 patients continued in the study to week 48 (ABBV-599 HD n = 68, upadacitinib 30 mg n = 62, placebo n = 75).2As previously disclosed, AbbVie is advancing its clinical program of upadacitinib in SLE to Phase 3 based on these results. ABBV-599 will not move forward to Phase 3 due to no additional contribution of efficacy by elsubrutinib relative to upadacitinib alone. Additional results from the SLEek study are being presented at EULAR in posters 1133 and 1137.About RINVOQ® (upadacitinib) Discovered and developed by AbbVie scientists, RINVOQ is a selective and reversible JAK inhibitor that is being studied in several immune-mediated inflammatory diseases.7-20 In human cellular assays, RINVOQ preferentially inhibits signaling by JAK1 or JAK1/3 with functional selectivity over cytokine receptors that signal via pairs of JAK2.7 The relevance of inhibition of specific JAK enzymes to therapeutic effectiveness and safety is not currently known.7Upadacitinib (RINVOQ) is in Phase 3 development for giant cell arteritis, Takayasu arteritis and systemic lupus erythematosus.14,18,20EU Indications and Important Safety Information about RINVOQ® (upadacitinib)7 IndicationsRheumatoid arthritisRINVOQ is indicated for the treatment of moderate to severe active rheumatoid arthritis (RA) in adult patients who have responded inadequately to, or who are intolerant to one or more disease-modifying anti-rheumatic drugs (DMARDs). RINVOQ may be used as monotherapy or in combination with methotrexate.Psoriatic arthritisRINVOQ is indicated for the treatment of active psoriatic arthritis (PsA) in adult patients who have responded inadequately to, or who are intolerant to one or more DMARDs. RINVOQ may be used as monotherapy or in combination with methotrexate.Axial spondyloarthritisNon-radiographic axial spondyloarthritis (nr-axSpA)RINVOQ is indicated for the treatment of active non-radiographic axial spondyloarthritis in adult patients with objective signs of inflammation as indicated by elevated C-reactive protein (CRP) and/or magnetic resonance imaging (MRI), who have responded inadequately to nonsteroidal anti- inflammatory drugs (NSAIDs).Ankylosing spondylitis (AS, radiographic axial spondyloarthritis)RINVOQ is indicated for the treatment of active ankylosing spondylitis in adult patients who have responded inadequately to conventional therapy.Atopic dermatitisRINVOQ is indicated for the treatment of moderate to severe atopic dermatitis (AD) in adults and adolescents 12 years and older who are candidates for systemic therapy.Ulcerative colitisRINVOQ is indicated for the treatment of adult patients with moderately to severely active ulcerative colitis (UC) who have had an inadequate response, lost response or were intolerant to either conventional therapy or a biologic agent.Crohn's diseaseRINVOQ is indicated for the treatment of adult patients with moderately to severely active Crohn's disease who have had an inadequate response, lost response or were intolerant to either conventional therapy or a biologic agent.Important Safety InformationContraindicationsRINVOQ is contraindicated in patients hypersensitive to the active substance or to any of the excipients, in patients with active tuberculosis (TB) or active serious infections, in patients with severe hepatic impairment, and during pregnancy.Special warnings and precautions for useRINVOQ should only be used if no suitable treatment alternatives are available in patients:-  65 years of age and older;-  patients with history of atherosclerotic cardiovascular (CV) disease or other CV risk factors (such as current or past long-time smokers);- patients with malignancy risk factors (e.g. current malignancy or history of malignancy)Use in patients 65 years of age and olderConsidering the increased risk of MACE, malignancies, serious infections, and all-cause mortality in patients ≥65 years of age, as observed in a large randomised study of tofacitinib (another JAK inhibitor), RINVOQ should only be used in these patients if no suitable treatment alternatives are available. In patients ≥65 years of age, there is an increased risk of adverse reactions with RINVOQ 30 mg once daily. Consequently, the recommended dose for long-term use in this patient population is 15 mg once daily.Immunosuppressive medicinal productsUse in combination with other potent immunosuppressants is not recommended.Serious infectionsSerious and sometimes fatal infections have been reported in patients receiving RINVOQ. The most frequent serious infections reported included pneumonia and cellulitis. Cases of bacterial meningitis and sepsis have been reported with RINVOQ. Among opportunistic infections, TB, multidermatomal herpes zoster, oral/esophageal candidiasis, and cryptococcosis have been reported. RINVOQ should not be initiated in patients with an active, serious infection, including localized infections. RINVOQ should be interrupted if a patient develops a serious or opportunistic infection until the infection is controlled. A higher rate of serious infections was observed with RINVOQ 30 mg compared to 15 mg. As there is a higher incidence of infections in the elderly and patients with diabetes in general, caution should be used when treating these populations. In patients ≥65 years of age, RINVOQ should only be used if no suitable treatment alternatives are available.TuberculosisPatients should be screened for TB before starting RINVOQ. RINVOQ should not be given to patients with active TB. Anti-TB therapy may be appropriate for select patients in consultation with a physician with expertise in the treatment of TB. Patients should be monitored for the development of signs and symptoms of TB.Viral reactivationViral reactivation, including cases of herpes zoster, was reported in clinical studies. The risk of herpes zoster appears to be higher in Japanese patients treated with RINVOQ. Consider interruption of RINVOQ if the patient develops herpes zoster until the episode resolves. Screening for viral hepatitis and monitoring for reactivation should occur before and during therapy. If hepatitis B virus DNA is detected, a liver specialist should be consulted.VaccinationThe use of live, attenuated vaccines during or immediately prior to therapy is not recommended. It is recommended that patients be brought up to date with all immunizations, including prophylactic zoster vaccinations, prior to initiating RINVOQ, in agreement with current immunization guidelines.MalignancyLymphoma and other malignancies have been reported in patients receiving JAK inhibitors, including RINVOQ. In a large randomised active–controlled study of tofacitinib (another JAK inhibitor) in RA patients ≥50 years of age with ≥1 additional CV risk factor, a higher rate of malignancies, particularly lung cancer, lymphoma, and non-melanoma skin cancer (NMSC), was observed with tofacitinib compared to tumour necrosis factor (TNF) inhibitors. A higher rate of malignancies, including NMSC, was observed with RINVOQ 30 mg compared to 15 mg. Periodic skin examination is recommended for all patients, particularly those with risk factors for skin cancer. In patients ≥65 years of age, patients who are current or past long-time smokers, or patients with other malignancy risk factors (e.g., current malignancy or history of malignancy), RINVOQ should only be used if no suitable treatment alternatives are available.Hematological abnormalitiesTreatment should not be initiated, or should be temporarily interrupted, in patients with hematological abnormalities observed during routine patient management.Gastrointestinal PerforationsEvents of diverticulitis and gastrointestinal perforations have been reported in clinical trials and from post–marketing sources. RINVOQ should be used with caution in patients who may be at risk for gastrointestinal perforation (e.g., patients with diverticular disease, a history of diverticulitis, or who are taking nonsteroidal antiinflammatory drugs (NSAIDs), corticosteroids, or opioids. Patients with active Crohn's disease are at increased risk for developing intestinal perforation. Patients presenting with new onset abdominal signs and symptoms should be evaluated promptly for early identification of diverticulitis or gastrointestinal perforation.Major adverse cardiovascular eventsMACE were observed in clinical studies of RINVOQ. In a large randomised active-controlled study of tofacitinib (another JAK inhibitor) in RA patients ≥50 years of age with ≥1 additional CV risk factor, a higher rate of MACE, defined as CV death, non-fatal myocardial infarction and non-fatal stroke, was observed with tofacitinib compared to TNF inhibitors. Therefore, in patients ≥65 years of age, patients who are current or past long-time smokers, and patients with history of atherosclerotic CV disease or other CV risk factors, RINVOQ should only be used if no suitable treatment alternatives are available.LipidsRINVOQ treatment was associated with dose-dependent increases in lipid parameters, including total cholesterol, low-density lipoprotein cholesterol, and high-density lipoprotein cholesterol.Hepatic transaminase elevationsTreatment with RINVOQ was associated with an increased incidence of liver enzyme elevation. If alanine transaminase (ALT) or aspartate transaminase (AST) increases are observed and drug-induced liver injury is suspected, RINVOQ should be interrupted until this diagnosis is excluded.Venous thromboembolismEvents of deep venous thrombosis (DVT) and pulmonary embolism (PE) were observed in clinical trials for RINVOQ. In a large randomised active-controlled study of tofacitinib (another JAK inhibitor) in RA patients ≥50 years of age with ≥1 additional CV risk factor, a dose–dependent higher rate of VTE including DVT and PE was observed with tofacitinib compared to TNF inhibitors. In patients with CV or malignancy risk factors, RINVOQ should only be used if no suitable treatment alternatives are available. In patients with known VTE risk factors other than CV or malignancy risk factors (e.g. previous VTE, patients undergoing major surgery, immobilisation, use of combined hormonal contraceptives or hormone replacement therapy, and inherited coagulation disorder), RINVOQ should be used with caution. Patients should be re-evaluated periodically to assess for changes in VTE risk. Promptly evaluate patients with signs and symptoms of VTE and discontinue RINVOQ in patients with suspected VTE.Hypersensitivity reactionsSerious hypersensitivity reactions such as anaphylaxis and angioedema have been reported in patients receiving RINVOQ. If a clinically significant hypersensitivity reaction occurs, discontinue RINVOQ and institute appropriate therapy.Adverse reactionsThe most commonly reported adverse reactions in RA, PsA, and axSpA clinical trials (≥2% of patients in at least one of the indications) with RINVOQ 15 mg were upper respiratory tract infections, blood creatine phosphokinase (CPK) increased, ALT increased, bronchitis, nausea, neutropenia, cough, AST increased, and hypercholesterolemia. Overall, the safety profile observed in patients with psoriatic arthritis or active axial spondyloarthritis treated with RINVOQ 15 mg was consistent with the safety profile observed in patients with RA.The most commonly reported adverse reactions in AD trials (≥2% of patients) with RINVOQ 15 mg or 30 mg were upper respiratory tract infection, acne, herpes simplex, headache, blood CPK increased, cough, folliculitis, abdominal pain, nausea, neutropenia, pyrexia, and influenza. Dose dependent increased risks of infection and herpes zoster were observed with RINVOQ. The safety profile for RINVOQ 15 mg in adolescents was similar to that in adults. The safety and efficacy of the 30 mg dose in adolescents are still being investigated.The most commonly reported adverse reactions in the UC and CD trials (≥3% of patients) with RINVOQ 45 mg, 30 mg or 15 mg were upper respiratory tract infection, pyrexia, blood CPK increased, anemia, headache, acne, herpes zoster, neutropaenia, rash, pneumonia, hypercholesterolemia, bronchitis, aspartate transaminase increased, fatigue, folliculitis, alanine transaminase increased, herpes simplex, and influenza.The overall safety profile observed in patients with UC was generally consistent with that observed in patients with RA.Overall, the safety profile observed in patients with CD treated with RINVOQ was consistent with the known safety profile for RINVOQ.The most common serious adverse reactions were serious infections.The safety profile of upadacitinib with long–term treatment was generally similar to the safety profile during the placebo–controlled period across indications.This is not a complete summary of all safety information.See RINVOQ full Summary of Product Characteristics (SmPC) at www.ema.europa.euGlobally, prescribing information varies; refer to the individual country product label for complete information.About AbbVie in RheumatologyFor more than 20 years, AbbVie has been dedicated to improving care for people living with rheumatic diseases. Anchored by a longstanding commitment to discovering and delivering transformative therapies, we pursue cutting-edge science that improves our understanding of promising new pathways and targets, ultimately helping more people living with rheumatic diseases reach their treatment goals. For more information, visit AbbVie in rheumatology.About AbbVie  AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, LinkedIn or Instagram.Forward-Looking Statements Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2022 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its subsequent Quarterly Reports on Form 10-Q. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.ReferencesData on File. Final Lock (Week 48) Key Results ABBV-599 Study M19-130 (Phase 2) Intended Indication: Systemic Lupus Erythematosus (SLE). Accessed on April 10, 2023.Merrill, J.T., et al. Efficacy and Safety of ABBV-599 High Dose (Elsubrutinib 60 mg and Upadacitinib 30 mg) and Upadacitinib Monotherapy for the Treatment of Systemic Lupus Erythematosus: A Phase 2, Double-blind, Placebo-controlled Trial. EULAR 2023 Congress; OP0139.Arora, S., Isenberg, D.A. and Castrejon, I. (2020), Measures of Adult Systemic Lupus Erythematosus: Disease Activity and Damage. Arthritis Care Res, 72: 27-46. https://doi.org/10.1002/acr.24221.Centers for Disease Control and Prevention. Systemic Lupus Erythematosus (SLE). Available at: https://www.cdc.gov/lupus/facts/detailed.html. Accessed April 2023.Catalina MD, Owen KA, Labonte AC, et al. The pathogenesis of systemic lupus erythematosus: Harnessing big data to understand the molecular basis of lupus. J Autoimmun. 2020 Jun;110:102359. doi: 10.1016/j.jaut.2019.102359. Epub 2019 Dec 2. PMID: 31806421.Centers for Disease Control and Prevention. Managing Lupus. Available at: https://www.cdc.gov/lupus/basics/managing.htm. Accessed April 2023.RINVOQ [Summary of Product Characteristics]. AbbVie Deutschland GmbH & Co KG. Available at: www.ema.europa.euDanese S, Vermeire S, Zhou W, et al. Upadacitinib as induction and maintenance therapy for moderately to severely active ulcerative colitis: results from three phase 3, multicentre, double-blind, randomised trials. The Lancet. 2022;399(10341):2113-2128. doi:10.1016/S0140-6736(22)00581-5.Mease PJ, Lertratanakul A, Anderson JK, et al. Upadacitinib for psoriatic arthritis refractory to biologics: SELECT-PsA 2. Annals of the Rheumatic Diseases. 2021;80(3):312-320. doi:10.1136/annrheumdis-2020-218870. Guttman-Yassky E, Teixeira HD, Simpson EL, et al. Once-daily upadacitinib versus placebo in adolescents and adults with moderate-to-severe atopic dermatitis (Measure Up 1 and Measure Up 2): results from two replicate double-blind, randomised controlled phase 3 trials. The Lancet. 2021;397(10290):2151-2168. doi:10.1016/S0140-6736(21)00588-2. Van der Heijde D, Song IH, Pangan AL, et al. Efficacy and safety of upadacitinib in patients with active ankylosing spondylitis (SELECT-AXIS 1): a multicentre, randomised, double-blind, placebo-controlled, phase 2/3 trial. Lancet. 2019;394(10214):2108-2117. doi:10.1016/S0140-6736(19)32534-6.A Study of the Efficacy and Safety of Upadacitinib (ABT-494) in Participants with Moderately to Severely Active Ulcerative Colitis. clinicaltrials.gov; 2022. Available at: https://clinicaltrials.gov/ct2/show/NCT03653026. Accessed August 26, 2022.A Study to Evaluate the Safety and Efficacy of Upadacitinib (ABT-494) for Induction and Maintenance Therapy in Participants with Moderately to Severely Active Ulcerative Colitis (UC). clinicaltrials.gov; 2022. Available at: https://clinicaltrials.gov/ct2/show/NCT02819635. Accessed August 26, 2022.A Study to Evaluate the Efficacy and Safety of Upadacitinib in Subjects with Takayasu Arteritis (TAK) (SELECT-TAK). clinicaltrials.gov; 2021. Available at: https://clinicaltrials.gov/ct2/show/NCT04161898. Accessed August 26, 2022.A Study to Evaluate Efficacy and Safety of Upadacitinib in Adult Participants with Axial Spondyloarthritis. clinicaltrials.gov; 2021. Available at: https://clinicaltrials.gov/ct2/show/NCT04169373. Accessed August 26, 2022. Burmester GR, Kremer JM, Van den Bosch F, et al. Safety and efficacy of upadacitinib in patients with rheumatoid arthritis and inadequate response to conventional synthetic disease-modifying anti-rheumatic drugs (SELECT-NEXT): a randomised, double-blind, placebo-controlled phase 3 trial. Lancet. 2018;391(10139):2503-2512. doi:10.1016/S0140-6736(18)31115-2. Cohen SB, van Vollenhoven RF, Winthrop KL, et al. Safety profile of upadacitinib in rheumatoid arthritis: integrated analysis from the SELECT phase III clinical programme. Ann Rheum Dis. Published online October 28, 2020:annrheumdis-2020-218510. doi:10.1136/annrheumdis-2020-218510. A Study to Evaluate the Safety and Efficacy of Upadacitinib in Participants with Giant Cell Arteritis. clinicaltrials.gov; 2022. Available at: https://clinicaltrials.gov/ct2/show/NCT03725202. Accessed August 26, 2022. A Maintenance and Long-Term Extension Study of the Efficacy and Safety of Upadacitinib (ABT-494) in Participants with Crohn's Disease Who Completed the Studies M14-431 or M14-433. clinicaltrials.gov; 2022. Available at: https://clinicaltrials.gov/ct2/show/NCT03345823. Accessed August 26, 2022.Program to Assess Adverse Events and Change in Disease Activity of Oral Upadacitinib in Adult Participants With Moderate to Severe Systemic Lupus Erythematosus (SELECT-SLE). Clinicaltrials.gov; 2023. Available at: https://www.clinicaltrials.gov/ct2/show/NCT05843643.  Accessed May 15, 2023.CisionView original content:https://www.prnewswire.com/news-releases/phase-2-study-of-upadacitinib-rinvoq-alone-or-as-a-combination-therapy-meets-primary-and-key-secondary-endpoints-in-patients-with-systemic-lupus-erythematosus-301837872.htmlSOURCE AbbVie

PR Newswire

Phase 2 Study of Upadacitinib (RINVOQ®) Alone or as a Combination Therapy Meets Primary and Key Secondary Endpoints in Patients with Systemic Lupus Erythematosus

https://finance.yahoo.com/news/phase-2-study-upadacitinib-rinvoq-063000915.html

46655e6e-3fd9-3cc2-b1dc-44fe8e765e9f

ABBV

(Updates AbbVie shares, adds Amgen shares in paragraph 7, background on competitors in paragraphs 5-6)June 1 (Reuters) - Coherus BioSciences Inc said on Thursday it plans to launch a biosimilar of AbbVie Inc's Humira in July at a list price of $995 per carton, representing a discount of about 85% from the blockbuster arthritis drug.The annual cost of the biosimilar, branded as Yusimry, will be around $13,000, compared with $90,000 for Humira, Coherus said.Coherus has also partnered with Billionaire entrepreneur Mark Cuban's pharmaceuticals startup to sell the biosimilar at $569.27 plus dispensing and shipping fees. The Mark Cuban Cost Plus Drug Company provides generic drugs through direct contracts with manufacturers and charges a standard markup.More than 300,000 patients in the U.S. take Humira every year, according to Coherus.Unlike pills, which have extremely cheap generic copies, complex, expensive biologics made from living cells cannot be exactly duplicated. Their closest alternatives are called biosimilars.Rival Amgen Inc launched the first biosimilar version of Humira earlier this year. The company priced the drug at two levels - $3,288 and $1,557 per 40 milligram pen device for a two-week supply - depending on who was purchasing.About half a dozen companies, including Teva Pharmaceutical , are planning to launch biosimilars to Humira in the U.S. market in July.AbbVie shares were down more than 4%, while Amgen fell nearly 4% in early trade.(Reporting by Raghav Mahobe in Bengaluru; Editing by Krishna Chandra Eluri)

Reuters

UPDATE 2-Coherus BioSciences to launch Humira biosimilar at 85% discount

https://finance.yahoo.com/news/1-coherus-biosciences-launch-humira-133739454.html

f839424f-0db1-3b61-9b82-babeb36175f3

ABBV

AstraZeneca AZN announced the discontinuation of studies on its monoclonal antibody targeting IL23, brazikumab. The candidate was being studied for two indications, Crohn’s disease (CD) and ulcerative colitis (UC), under the inflammatory bowel disease (IBD) development program.A phase IIb/III INTREPID study was evaluating brazikumab for treating CD and a phase II EXPEDITION study for treating UC. The program also included the respective open-label extension studies of the INTREPID and EXPEDITION studies.AstraZeneca cited evolving competitive landscape and the delayed regulatory timeline of brazikumab as reasons for discontinuing the IBD development program on brazikumab. The company further elaborated that the impact of regulatory delays on brazikumab’s development was irrecoverable due to global events.In the year so far, shares of AstraZeneca have climbed 7.7% against the industry’s 1.9% decline.Zacks Investment ResearchImage Source: Zacks Investment ResearchWe would like to remind the investors that in 2016, AstraZeneca first entered into a licensing agreement with Allergan, now part of AbbVie ABBV, for the global rights to brazikumab. However, in early 2020, AstraZeneca announced that it will regain the global rights to brazikumab from Allergan (now AbbVie).The termination of the agreement with Allergan was due to Allergan’s decision to divest brazikumab in connection with its merger with AbbVie. AbbVie was contributing to the ongoing funding of brazikumab studies, but this funding will now end.AstraZeneca’s another recent pipeline setback was the ALXN1840 program. The company announced that it is discontinuing the ALXN1840 program in Wilson Diseases based on the feedback from regulatory authorities which reviewed data from the phase III FoCus study and two phase II mechanistic studies.AstraZeneca PLC Price and ConsensusAstraZeneca PLC Price and ConsensusAstraZeneca PLC price-consensus-chart | AstraZeneca PLC QuoteZacks Rank and Stocks to ConsiderAstraZeneca currently has a Zacks Rank #3 (Hold).Story continuesA couple of better-ranked stocks in the overall medical sector are Novartis NVS and Akero Therapeutics AKRO, both carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past 90 days, the Zacks Consensus Estimate for Novartis’ 2023 earnings per share has increased from $6.52 to $6.67. In the year so far, shares of Novartis have increased 6.1%.NVS beat estimates in each of the trailing four quarters, delivering an average earnings surprise of 5.15%.In the past 90 days, the Zacks Consensus Estimate for Akero Therapeutics’ 2023 loss per share has narrowed from $3.46 to $2.78. In the year so far, shares of Akero Therapeutics have fallen by 18.7%.AKRO beat estimates in three of the trailing four quarters, missing the mark on one occasion, delivering an average earnings surprise of 7.96%.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAstraZeneca PLC (AZN) : Free Stock Analysis ReportNovartis AG (NVS) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportAkero Therapeutics, Inc. (AKRO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

AstraZeneca (AZN) Discontinues Brazikumab Development

https://finance.yahoo.com/news/astrazeneca-azn-discontinues-brazikumab-development-144000776.html

484152dd-9ebc-3e5c-9000-0ee322f92dd4

ABBV

Shares of the immunology juggernaut AbbVie (NYSE: ABBV) were down by 4% on sky-high volume as of 11 a.m. ET Thursday. The big loss came after Coherus Biosciences announced a partnership with billionaire Mark Cuban's pharmaceuticals start-up -- known as the Mark Cuban Cost Plus Drug Company -- to sell a biosimilar (a generic biologic) version of AbbVie's flagship anti-inflammatory medication, Humira, at an 85% discount. Coherus' biosimilar will be branded as Yusimry.Continue reading

Motley Fool

Why AbbVie and Amgen Are Moving Lower Today

https://finance.yahoo.com/m/bec61989-8d86-3ebf-9d39-d9a0409635cc/why-abbvie-and-amgen-are.html

bec61989-8d86-3ebf-9d39-d9a0409635cc

ABBV

In this article, we discuss 14 best annual dividend stocks to buy now. You can skip our detailed analysis of dividend stocks and their performance over the years, and go directly to read 5 Best Annual Dividend Stocks To Buy Now. Dividend stocks are garnering investors’ attention in 2023 as the stock market recovers from its bear market lows seen last year. There are several studies showing the effectiveness of dividend investing. For example, Heartland Advisors conducted one such research which showed that from 1802 to 2002, dividends represented 5.8% of the full 7.9% total annualized return of the stock market, including dividend growth. The study also cited London Business School’s research, which showed that the average real return across 17 countries from 1900 to 2005 stood at 5%, while the average dividend yield of those countries came in at 4.5% during this period.Dividend investing may seem a simple strategy on the surface, but there are many dimensions to consider in order to generate regular income through these stocks. Reinvesting dividends is one of the most popular ways to accelerate income through the power of compounding. Since 1960, reinvested dividends accounted for 69% of the S&P 500’s total returns, as we reported in our article titled 25 Things Every Dividend Investor Should Know. We further mentioned data in the article which showed that the broad market’s annual average return over the past 50 years came in at 7.58%, which grew to 10.51% by reinvesting dividends. Additionally, dividends can contribute to investors’ overall performance and reduce volatility because of their defensive nature. Sam Stovall, chief investment strategist at CFRA Research, spoke to CNBC last year about the importance of dividend stocks. Here are some comments from the analyst:“Essentially, dividends can improve your performance by a third without doing anything. You can add octane to your performance just by owning dividend-paying stocks.”Story continuesThis is to be noted that last year was one of the best years for dividend stocks as they outperformed the market by a wide margin. Moreover, companies in the S&P 500 paid a record amount to shareholders in dividends.While dividend payment frequencies can vary among different companies, some of them choose to distribute dividends on an annual basis. The decision to pay annual dividends may be influenced by the respective company’s financial stability, profitability, and cash flow. In addition to this, businesses in certain industries or stages of growth may opt for annual dividends to provide a substantial return to shareholders while retaining more capital for reinvestment. While major companies such as The Procter & Gamble Company (NYSE:PG), Johnson & Johnson (NYSE:JNJ), and AbbVie Inc. (NYSE:ABBV) pay dividends on a quarterly basis, we will discuss some of the best dividend stocks that offer annual dividends.14 Best Annual Dividend Stocks To Buy NowPhoto by nick chong on UnsplashOur Methodology:For this list, we selected dividend companies that pay dividends just once a year to shareholders. Most of these companies are traded on American exchanges, however, some foreign companies on our list are traded on the OTC market. We measured hedge fund sentiment around American stocks based on Insider Monkey's database for Q1 2023. The stocks are ranked from the lowest dividend yield to the highest, as of May 26.14 Best Annual Dividend Stocks To Buy Now14. Churchill Downs Incorporated (NASDAQ:CHDN)Dividend Yield as of May 26: 0.26%Churchill Downs Incorporated (NASDAQ:CHDN) is a Kentucky-based horse racing company that also owns casinos and online wagering corporations. JMP Securities raised its price target on the stock in April to $326 and kept an Outperform rating on the shares. The firm mentioned that the company's recent quarterly earnings were impressive.On April 25, Churchill Downs Incorporated (NASDAQ:CHDN) declared an annual dividend of $1 per share for a dividend yield of 0.26%, as of May 26. The company has been making uninterrupted dividend payments to shareholders since 1993, which makes it one of the best dividend stocks on our list. Considering its regular payouts, it can be added to dividend portfolios alongside The Procter & Gamble Company (NYSE:PG), Johnson & Johnson (NYSE:JNJ), and AbbVie Inc. (NYSE:ABBV).In the first quarter of 2023, Churchill Downs Incorporated (NASDAQ:CHDN) reported revenue of roughly $560 million, which beat analysts' estimates by $22.9 million. The company's operating cash flow came in at $216 million, up from $135.2 million during the same period last year.The number of hedge funds tracked by Insider Monkey owning stakes in Churchill Downs Incorporated (NASDAQ:CHDN) grew to 26 in Q1 2023, from 23 in the previous quarter. These stakes have a collective value of nearly $330 million. Among these hedge funds, Nitorum Capital was the company's leading stakeholder in Q1.13. Balchem Corporation (NASDAQ:BCPC)Dividend Yield as of May 26: 0.58%Balchem Corporation (NASDAQ:BCPC) is an American company that specializes in customized ingredient systems and key minerals for food and pharmaceutical markets. It generated $232.5 million in revenue in the first quarter of 2023, which showed a 1.6% growth from the same period last year. During the quarter, the company returned $23 million to shareholders in dividends. With an operating cash flow of $34.8 million and free cash flow of $25.2 million, it becomes one of the best dividend stocks on our list.Balchem Corporation (NASDAQ:BCPC) has been growing its dividends consistently since 2009. In December 2022, the company declared a 10.9% hike in its annual dividend to $0.71 per share. The stock's dividend yield on May 26 came in at 0.58%.Insider Monkey's Q1 2023 database shows that 13 hedge funds owned stakes in the company, up from 12 in the previous quarter. These stakes are collectively valued at over $67.4 million.12. American Equity Investment Life Holding Company (NYSE:AEL)Dividend Yield as of May 26: 0.90%American Equity Investment Life Holding Company (NYSE:AEL) is a life insurance company, headquartered in Iowa, US. The company mainly specializes in the sales of fixed index and fixed rate annuities. Piper Sandler raised its price target on the stock to $44 in May with a Neutral rating on the shares, highlighting the company's improved results in the first quarter.One of the best dividend stocks on our list, American Equity Investment Life Holding Company (NYSE:AEL) started paying dividends to shareholders in 2003 and has raised its payouts every year since then. It currently offers a dividend of $0.36 per share on an annual basis. The stock's dividend yield on May 26 came in at 0.90%.In the first quarter of 2023, American Equity Investment Life Holding Company (NYSE:AEL) reported revenue of $662.5 million, which beat Street estimates by $36.5 million. The revenue also saw a 348.6% growth from the prior-year period.At the end of March 2023, 17 hedge funds tracked by Insider Monkey reported having stakes in American Equity Investment Life Holding Company (NYSE:AEL), worth collectively over $1.1 million.First Pacific Advisors highlighted the outperformance of American Equity Investment Life Holding Company (NYSE:AEL) in its Q4 2022 investor letter:“American Equity Investment Life Holding Company (NYSE:AEL) is a leading writer of fixed index annuities. The company is benefitting from an ambitious plan by CEO Anant Bhalla to diversify into alternatives and move assets off balance sheet, creating a fee income stream and freeing up capital for buybacks (AEL 2.0 Strategy). We are warily watching, but so far, results have been good. As of Q3 2022, AEL had 18% of its balance sheet in private assets.”11. Century Next Financial Corporation (OTC:CTUY)Dividend Yield as of May 26: 1.08%Century Next Financial Corporation (OTC:CTUY) is a federally chartered bank, based in Louisiana, US. The company generated $6.3 million in revenues in Q1 2023, which showed a 2.8% growth from the same period last year. At the end of March 2023, it had roughly $696 million available in total assets, compared with $643.3 million in the prior-year period.Century Next Financial Corporation (OTC:CTUY), one of the best dividend stocks on our list, has been rewarding shareholders with growing dividends since 2015. It currently pays an annual dividend of $0.32 per share for a dividend yield of 1.08%, as of May 26.10. Flanigan's Enterprises, Inc. (NYSE:BDL)Dividend Yield as of May 26: 1.5%Flanigan's Enterprises, Inc. (NYSE:BDL) is a Florida-based company that owns and operates a chain of small cocktail lounges and package liquor stores. On May 25, the company declared an annual dividend of $0.45 per share for a dividend yield of 1.5%, as recorded on May 26. It has been making regular annual dividend payments to shareholders since 2016.In the first quarter of 2023, Flanigan's Enterprises, Inc. (NYSE:BDL) reported revenue of $43.8 million, up from $40.3 million during the same period last year. The company's net income for the quarter came in at nearly $1.9 million.At the end of Q1 2023, Jim Simon's Renaissance Technologies was the only stakeholder of Flanigan's Enterprises, Inc. (NYSE:BDL). The hedge fund owned stakes worth over $1.46 million.9. Logitech International S.A. (NASDAQ:LOGI)Dividend Yield as of May 26: 1.6%Logitech International S.A. (NASDAQ:LOGI) is a Switzerland-based computer manufacturing company that mainly develops personal peripherals for PC navigation. The company also has headquarters in California, US. Following the company's fiscal Q4 2023 earnings, Street analysts gave positive ratings to the stock. In May, both Citigroup and Barclays lifted their price targets on LOGI to $73 and $71, respectively.Logitech International S.A. (NASDAQ:LOGI), one of the best dividend stocks on our list, currently offers an annual dividend of CHF 0.96 per share. It has been raising its dividends consistently since 2014. The stock has a dividend yield of 1.6%, as of May 26.The number of hedge funds tracked by Insider Monkey holding stakes in Logitech International S.A. (NASDAQ:LOGI) grew to 14 in Q1 2023, from 10 in the preceding quarter. These stakes are valued at $142.8 million collectively.8. Citizens Community Bancorp, Inc. (NASDAQ:CZWI)Dividend Yield as of May 26: 3.42%Citizens Community Bancorp, Inc. (NASDAQ:CZWI) is a Wisconsin-based bank holding company. It offers personal, business, and mortgage services to its consumers. In the first quarter of 2023, the company generated $15.08 million in revenues, which fell by 5% from the prior-year period. Its total assets increased to $1.86 billion, from $1.82 billion in March 2022.Citizens Community Bancorp, Inc. (NASDAQ:CZWI) has been raising its annual dividends since 2019, which makes it one of the best dividend stocks on our list. Its annual dividend payout stands at $0.29 per share for a dividend yield of 3.42%, as of May 26.As of the close of Q1 2023, 3 hedge funds in Insider Monkey's database reported having stakes in Citizens Community Bancorp, Inc. (NASDAQ:CZWI), worth over $5.2 million collectively. Among these hedge funds, Royce & Associates was the company's largest stakeholder in Q1.7. Touchstone Bankshares, Inc. (OTC:TSBA)Dividend Yield as of May 26: 3.69%Touchstone Bankshares, Inc. (OTC:TSBA) is an American commercial banking company, based in Virginia. In December 2022, the company declared an annual dividend of $0.32 per share, raising it by 6.7% from its previous dividend. This marked the company's third consecutive year of dividend growth. The stock's dividend yield on May 26 came in at 3.69%.Touchstone Bankshares, Inc. (OTC:TSBA) reported $6.2 million in revenues in Q1 2023, which saw a 14.2% growth from the same period last year. Its net interest income for the quarter came in at $5.4 million.6. George Risk Industries, Inc. (OTC:RSKIA)Dividend Yield as of May 26: 5.60%George Risk Industries Inc. (OTC:RSKIA) is a Nebraska-based company that manufactures a wide range of security products for residential, commercial, and industrial customers. The company initiated its dividend policy in 2019 and has raised its dividends every year since then. It currently pays an annual dividend of $0.60 per share and has a dividend yield of 5.60%, as of May 26.George Risk Industries Inc. (OTC:RSKIA) is a reliable investment option for investors who want to consider annual dividend stocks. It can be added to portfolios alongside some of the best dividend stocks like The Procter & Gamble Company (NYSE:PG), Johnson & Johnson (NYSE:JNJ), and AbbVie Inc. (NYSE:ABBV).For the nine months that ended January 31, George Risk Industries, Inc. (OTC:RSKIA) reported an operating cash flow of $2.7 million, up from $1.8 million during the same period last year. The company's net income for the period came in at over $3.6 million, compared with $3.5 million in the prior-year period. Click to continue reading and see 5 Best Annual Dividend Stocks To Buy Now.  Suggested articles:Analysts are Upgrading These 10 Stocks14 Best Biotech Stocks To Buy15 Best Artificial Intelligence (AI) Stocks To BuyDisclosure. None. 14 Best Annual Dividend Stocks To Buy Now is originally published on Insider Monkey.

Insider Monkey

14 Best Annual Dividend Stocks To Buy Now

https://finance.yahoo.com/news/14-best-annual-dividend-stocks-154909451.html

05742947-7ec5-3304-9fba-00d37de79070

ABBV

In this article, we will discuss the best dividend aristocrat stocks sorted by hedge fund popularity. You can skip our detailed analysis of dividend aristocrats and their past performance, and go directly to read S&P 500 Dividend Aristocrats List: Top 10 Among Hedge Funds. Dividend aristocrats are companies in the S&P 500 that have a track record of consistently raising their dividends for 25 years or more. Dividend growers become top choices for investors, especially during bearish markets, because of their ability to generate stable cash flows and return profits to shareholders. When the market was down from December 1999 to March 2022, the S&P High Yield Dividend Aristocrats outperformed the S&P Composite 1500 by an average of 140 basis points per month, according to a report by S&P Dow Jones Indices.Dividend growth is one of the most important aspects of dividend investing. It is often associated with high-quality companies that have sustainable business models and solid financial health. In addition to this, companies with proven track records of dividend growth help protect during inflationary periods. For these reasons, investors often gravitate towards some of the best dividend aristocrat stocks such as Walmart Inc. (NYSE:WMT), Johnson & Johnson (NYSE:JNJ), and AbbVie Inc. (NYSE:ABBV). These companies have demonstrated strong profitability through the years, which has contributed to their ability to raise their payouts regularly. In our previous article titled 25 Things Every Dividend Investor Should Know, we cited Washington Crossing Advisors’ data, which showed that dividend growers and initiators delivered an annual average return of 11.6% from 1972 to 2014. In comparison, dividend cutters underperformed and delivered an annual average return of 3.4%.Also read: Dividend Aristocrats Ranked: Top 15 According to AnalystsVarious studies have shown the outperformance of reliable dividend stocks relative to other equities. According to a report by T. Rowe Price, dividend growers delivered a 12.07% annual average return from March 1972 to March 2020, compared with an 11.50% annualized return of the S&P 500. During this period, non-dividend payers returned 10.24% on average, underperforming dividend growth stocks. The report further analyzed market conditions from 1985 to 2019 and highlighted that dividend growers showed strong performance than their peers in down markets during this period.Story continuesS&P 500 Dividend Aristocrats List: Sorted By Hedge Fund PopularityPhoto by Austin Distel on UnsplashOur Methodology:For this list, we scanned Insider Monkey’s database of 943 hedge funds updated to reflect Q1 portfolios and picked the top 25 dividend aristocrats in terms of hedge fund popularity. The list is ranked in ascending order of the number of hedge funds having stakes in the companies as of the end of the first quarter.25. Emerson Electric Co. (NYSE:EMR)Number of Hedge Fund Holders: 47Emerson Electric Co. (NYSE:EMR) is a Missouri-based manufacturing company that provides engineering services and products to different markets. On May 3, the company announced a quarterly dividend of $0.52 per share, which was in line with its previous dividend. It is one of the best dividend aristocrat stocks on our list with 66 years of dividend growth. The stock has a dividend yield of 2.62%, as of May 29.Walmart Inc. (NYSE:WMT), Johnson & Johnson (NYSE:JNJ), and AbbVie Inc. (NYSE:ABBV) are some other best dividend aristocrat stocks according to hedge funds.The number of hedge funds tracked by Insider Monkey owning stakes in Emerson Electric Co. (NYSE:EMR) grew to 47 in Q1 2023, from 32 in the previous quarter. The collective value of these stakes is nearly $2 billion. With over 4.2 million shares, Citadel Investment Group was the company's leading stakeholder in Q1.24. Air Products and Chemicals, Inc. (NYSE:APD)Number of Hedge Fund Holders: 48Air Products and Chemicals, Inc. (NYSE:APD) is an American chemical industry company that sells gases and chemicals for industrial uses. Deutsche Bank maintained a Buy rating on the stock in May with a $325 price target, expressing concerns about higher costs.Air Products and Chemicals, Inc. (NYSE:APD), one of the best dividend aristocrat stocks, currently pays a quarterly dividend of $1.75 per share. The company's dividend growth streak stands at 41 years. The stock's dividend yield on May 29 came in at 2.56%.At the end of Q1 2023, 48 hedge funds in Insider Monkey's database reported having stakes in Air Products and Chemicals, Inc. (NYSE:APD), up from 41 in the previous quarter. These stakes are collectively valued at over $490.2 million.23. International Business Machines Corporation (NYSE:IBM)Number of Hedge Fund Holders: 49An American technology company, International Business Machines Corporation (NYSE:IBM) experienced a positive hedge fund sentiment in Q1 2023. As per Insider Monkey's database, 49 elite funds held stakes in the company in Q1, compared with 43 in the preceding quarter. The consolidated value of these stakes is over $1.47 billion.International Business Machines Corporation (NYSE:IBM) is among the best dividend aristocrat stocks on our list with 28 years of consecutive dividend growth. It currently pays a quarterly dividend of $1.66 per share and has a dividend yield of 5.15%, as of May 29.22. Cardinal Health, Inc. (NYSE:CAH)Number of Hedge Fund Holders: 50Cardinal Health, Inc. (NYSE:CAH) is an American multinational healthcare services company, based in Ohio. This year in May, the company raised its dividend for the 37th consecutive year, which makes it one of the best dividend aristocrat stocks. It pays a quarterly dividend of $0.5006 per share for a dividend yield of 2.42%, as of May 29.In May, UBS lifted its price target on Cardinal Health, Inc. (NYSE:CAH) to $93 and kept a Buy rating on the shares, following the company's recent quarterly earnings.As of the close of Q1 2023, 50 hedge funds tracked by Insider Monkey reported having stakes in Cardinal Health, Inc. (NYSE:CAH), worth collectively over $1.36 billion.Ariel Investments mentioned Cardinal Health, Inc. (NYSE:CAH) in its Q3 2022 investor letter. Here is what the firm has to say:“Additionally, distributor of pharmaceutical and medical products Cardinal Health, Inc. (NYSE:CAH) advanced in the period as leadership changes were viewed to be a positive for shares. Management provided a new profit outlook for Fiscal 2023 and announced an improvement plan for the medical segment. We are encouraged by these changes and think CAH’s underlying fundamentals and competitive advantages around preventative maintenance screenings and medication management will continue to improve. We believe valuations of health care companies like CAH that focus on cost optimization and promote technological efficiency across the supply chain will be rewarded over the long term.”21. 3M Company (NYSE:MMM)Number of Hedge Fund Holders: 513M Company (NYSE:MMM) manufactures a broad range of products belonging to different industries. The company holds one of the longest dividend growth streaks of 65 years. It currently pays a quarterly dividend of $1.50 per share with a dividend yield of 6.19%. MMM is among the best dividend aristocrat stocks on our list.At the end of March 2023, 51 hedge funds in Insider Monkey's database reported having stakes in 3M Company (NYSE:MMM), compared with 52 in the previous quarter. The collective worth of these stakes is over $697.3 million. Citadel Investment Group was the company's leading stakeholder in Q1.20. Medtronic plc (NYSE:MDT)Number of Hedge Fund Holders: 52Medtronic plc (NYSE:MDT) is a Minnesota-based medical device company that also provides other medical-related services and products. In May, Stifel appreciated the company's performance in the most recent quarter and its guidance. In view of this, the firm raised its price target on the stock to $92 with a Buy rating on the shares.On May 25, Medtronic plc (NYSE:MDT) announced a quarterly dividend of $0.69 per share, having raised it by 1.5%. This was the company's 46th consecutive year of dividend growth. With a dividend yield of 3.39%, MDT is among the best dividend aristocrat stocks on our list.According to Insider Monkey's Q1 2023 database, 52 hedge funds owned stakes in Medtronic plc (NYSE:MDT), worth over $1.64 billion collectively.19. Caterpillar Inc. (NYSE:CAT)Number of Hedge Fund Holders: 52Caterpillar Inc. (NYSE:CAT) is an American construction and mining equipment company, headquartered in Texas. At the end of Q1 2023, the company was a part of 52 hedge fund portfolios, up from 50 in the preceding quarter, as per Insider Monkey's data. The stakes owned by these funds have a consolidated value of over $2.88 billion.Evercore ISI presented a positive outlook on the industrial machinery group in May. Given this, the firm maintained an Outperform rating on Caterpillar Inc. (NYSE:CAT) with a $263 price target. One of the best dividend aristocrat stocks on our list, CAT also attracted a Buy rating from Stifel in May.Caterpillar Inc. (NYSE:CAT) currently pays a quarterly dividend of $1.20 per share and has a dividend yield of 2.27%, as of May 29. The company maintains a 28-year streak of consistent dividend growth.18. Ecolab Inc. (NYSE:ECL)Number of Hedge Fund Holders: 53Ecolab Inc. (NYSE:ECL) offers services related to the treatment, cleaning, and hygiene of water in a wide range of applications. After the company posted solid quarterly earnings, BMO Capital and Deutsche Bank raised their price targets on the stock to $188 and $182, respectively.One of the best dividend aristocrat stocks, Ecolab Inc. (NYSE:ECL) declared a quarterly dividend of $0.53 per share on May 4. In 2022, the company took its dividend growth streak to 31 years. The stock's dividend yield on May 29 came in at 1.27%.At the end of Q1 2023, 53 hedge funds in Insider Monkey's database were long Ecolab Inc. (NYSE:ECL), up from 47 in the previous quarter. The stakes held by these funds have a collective value of $2.15 billion. With over 5.2 million shares, Bill & Melinda Gates Foundation Trust was the company's leading stakeholder in Q1.17. Automatic Data Processing, Inc. (NASDAQ:ADP)Number of Hedge Fund Holders: 53Automatic Data Processing, Inc. (NASDAQ:ADP) is next on our list of the best dividend aristocrat stocks. The management services company offers a per-share dividend of $1.25 every quarter for a dividend yield of 2.35%, as of May 29. It has been rewarding shareholders with growing dividends for the past 48 years.As of the close of Q1 2023, 53 hedge funds reported having stakes in Automatic Data Processing, Inc. (NASDAQ:ADP), compared with 49 in the previous quarter, according to Insider Monkey's database. These stakes are collectively worth over $3.7 billion.Madison Investments mentioned Automatic Data Processing, Inc. (NASDAQ:ADP) in its Q1 2023 investor letter. Here is what the firm has to say:“We eliminated Automatic Data Processing, Inc. (NASDAQ:ADP) from the portfolio due to concerns that the economy is close to a peak job market and interest income on the company’s float has also peaked along with interest rates. The company’s valuation does not reflect the potential downside in the job market from a weakening economy.”16. Colgate-Palmolive Company (NYSE:CL)Number of Hedge Fund Holders: 55Colgate-Palmolive Company (NYSE:CL) is a multinational consumer products company that manufactures household, healthcare, and other consumer products. Evercore ISI highlighted the company's volume recovery in the first quarter and raised its price target on the stock to $91. The firm reiterated its Outperform rating on CL, which is among the best dividend aristocrat stocks on our list.Colgate-Palmolive Company (NYSE:CL) pays a quarterly dividend of $0.48 per share, having raised it by 2% in March this year. The company has raised its payouts for 61 years running. The stock's dividend yield on May 29 was 2.52%.At the end of March 2023, 55 hedge funds in Insider Monkey's database owned stakes in Colgate-Palmolive Company (NYSE:CL), with a collective value of over $3.2 billion. Jean-Marie Eveillard, Dan Loeb, and Guardian Capital were some of the company's leading stakeholders in Q1.15. Becton, Dickinson and Company (NYSE:BDX)Number of Hedge Fund Holders: 56Becton, Dickinson and Company (NYSE:BDX) is an American medical technology company that specializes in the production of medical devices. The company also provides other medical-related services to its consumers. It has been raising its dividends consistently for the past 51 years and currently pays a quarterly dividend of $0.91 per share. The stock has a dividend yield of 1.51%, as of May 29.The number of hedge funds tracked by Insider Monkey holding stakes in Becton, Dickinson and Company (NYSE:BDX) stood at 56 in Q1 2023, growing from 52 in the previous quarter. These stakes have a consolidated value of roughly $3 billion.14. NextEra Energy, Inc. (NYSE:NEE)Number of Hedge Fund Holders: 59NextEra Energy, Inc. (NYSE:NEE) is a renewable energy company, based in Florida. In April, BMO Capital kept its Outperform rating on the stock with a $90 price target, presenting a neutral stance on the company's performance in the upcoming quarters.NextEra Energy, Inc. (NYSE:NEE), one of the best dividend aristocrat stocks, currently offers a quarterly dividend of $0.4675 per share. The company has a 27-year-long dividend growth streak. The stock's dividend yield on May 29 came in at 2.53%.As of the close of Q1 2023, 59 hedge funds tracked by Insider Monkey owned investments in NextEra Energy, Inc. (NYSE:NEE), worth over $1.11 billion collectively.13. The Coca-Cola Company (NYSE:KO)Number of Hedge Fund Holders: 61The Coca-Cola Company (NYSE:KO) has been raising its dividends for 61 years. The company pays a quarterly dividend of $0.46 per share and has a dividend yield of 3.05%, as of May 29. It is among the best dividend aristocrat stocks on our list.Warren Buffett's Berkshire Hathaway was the leading stakeholder of The Coca-Cola Company (NYSE:KO) with 400 million shares at the end of Q1 2023. Overall, 61 hedge funds in Insider Monkey's database owned stakes in the company, with a collective value of over $24.8 billion.Here is what Rown Street had to say about The Coca-Cola Company (NYSE:KO) in its Q4 2022 investor letter.“Let’s take The Coca-Cola Company (NYSE:KO) for example. Its dividend yield is 2.8%, earnings are estimated to grow at only 3.6% rate per year over next 4 years, and its earnings multiple is currently at 24x (based on next years forecasted earnings). KO has an anemic growth, so we can argue that paying 24x earnings is not very attractive. Let’s assume that the multiple will stay constant over the next 3-5 years, thus our expected annual returns will be 2.8%+3.6% = 6.4% (that is below the current reported inflation rate and only slightly above the risk-free rate of 4%).”12. McDonald's Corporation (NYSE:MCD)Number of Hedge Fund Holders: 64McDonald's Corporation (NYSE:MCD) ranks twelfth on our list of the best dividend aristocrat stocks. The multinational fast-food chain declared a $1.52 per share quarterly dividend on May 26. The company maintains a 46-year streak of consistent dividend growth. MCD has a dividend yield of 2.13%, as of May 29.Highlighting the company's same-store sales growth over the past quarters, Loop Capital maintained its Buy rating on MCD in May with a $346 price target.At the end of Q1 2023, 64 hedge funds tracked by Insider Monkey reported having stakes in McDonald’s Corporation (NYSE:MCD), up from 57 in the previous quarter. These stakes have a collective value of over $4 billion.11. Chevron Corporation (NYSE:CVX)Number of Hedge Fund Holders: 64Chevron Corporation (NYSE:CVX) is an American oil and natural gas company, based in California. On May 17, the company declared a quarterly dividend of $1.51 per share, which was in line with its previous dividend. The company's shares boast a dividend yield of 3.92%, as of May 29. It is one of the best dividend aristocrat stocks on our list as it holds a 36-year track record of consistent dividend growth.In addition to CVX, analysts and hedge funds are paying attention to Walmart Inc. (NYSE:WMT), Johnson & Johnson (NYSE:JNJ), and AbbVie Inc. (NYSE:ABBV).Insider Monkey's Q1 2023 database shows that 64 hedge funds owned stakes in Chevron Corporation (NYSE:CVX), up from 54  a quarter earlier. These stakes are worth over $23.6 billion collectively. With over 132.4 million shares, Berkshire Hathaway was the company's leading stakeholder in Q1. Click to continue reading and see S&P 500 Dividend Aristocrats List: Top 10 Picks by Hedge Funds.  Suggested articles:12 Undervalued Dividend Aristocrats To BuyDividend Aristocrats Ranked: Top 15 According to AnalystsTop 20 High Dividend Stocks To Buy According To AnalystsDisclosure. None. S&P 500 Dividend Aristocrats List: Top 10 Among Hedge Funds is originally published on Insider Monkey.

Insider Monkey

S&P 500 Dividend Aristocrats List: Sorted By Hedge Fund Popularity

https://finance.yahoo.com/news/p-500-dividend-aristocrats-list-155553966.html

d3cbc0ba-685d-36ea-9ec9-88f3320a8a82

ABBV

Big Pharma has a problem, and buying up biotech companies helps solve it. But the FTC has its own ideas about industry mergers. Here's where things stand.Continue reading

Investor's Business Daily

The Biotech Buying Bonanza: Why The FTC's Amgen Battle Won't Chill The Spree

https://finance.yahoo.com/m/a801739e-ae01-39b0-9c29-dc4fb42d512d/the-biotech-buying-bonanza-.html

a801739e-ae01-39b0-9c29-dc4fb42d512d

ABBV

While AbbVie Inc. (NYSE:ABBV) shareholders are probably generally happy, the stock hasn't had particularly good run recently, with the share price falling 12% in the last quarter. But don't let that distract from the very nice return generated over three years. After all, the share price is up a market-beating 46% in that time.So let's assess the underlying fundamentals over the last 3 years and see if they've moved in lock-step with shareholder returns. Check out our latest analysis for AbbVie There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.During the three years of share price growth, AbbVie actually saw its earnings per share (EPS) drop 9.0% per year.Thus, it seems unlikely that the market is focussed on EPS growth at the moment. Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics.Interestingly, the dividend has increased over time; so that may have given the share price a boost. It could be that the company is reaching maturity and dividend investors are buying for the yield. On top of that, revenue grew at a rate of 16% per year, and it's likely investors interpret that as pointing to a brighter future.You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).earnings-and-revenue-growthAbbVie is well known by investors, and plenty of clever analysts have tried to predict the future profit levels. So it makes a lot of sense to check out what analysts think AbbVie will earn in the future (free analyst consensus estimates)What About Dividends?As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of AbbVie, it has a TSR of 66% for the last 3 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!Story continuesA Different PerspectiveInvestors in AbbVie had a tough year, with a total loss of 3.4% (including dividends), against a market gain of about 4.2%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. On the bright side, long term shareholders have made money, with a gain of 11% per year over half a decade. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. For example, we've discovered 5 warning signs for AbbVie that you should be aware of before investing here.We will like AbbVie better if we see some big insider buys. While we wait, check out this free list of growing companies with considerable, recent, insider buying.Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.Join A Paid User Research SessionYou’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here

Simply Wall St.

AbbVie (NYSE:ABBV) shareholders have earned a 18% CAGR over the last three years

https://finance.yahoo.com/news/abbvie-nyse-abbv-shareholders-earned-130022632.html

e919ff88-efa2-36e1-af74-4a53186a6a69

ABBV

Coherus BioSciences’ partnership to offer deeply discounted biosimilar Humira can go only so far in reducing overall prices.Continue reading

The Wall Street Journal

Even Mark Cuban Can’t Fix This Broken Drug System

https://finance.yahoo.com/m/f1be2a0c-6e19-37da-b7ab-8e24508872a1/even-mark-cuban-can%E2%80%99t-fix.html

f1be2a0c-6e19-37da-b7ab-8e24508872a1

ABBV

What is the link between the theoretical physicist Albert Einstein and investing? Investing as little as $300 a month into the stock market at its historical annual total return rate of 10% for 35 years is enough to start from nothing and become a millionaire. AbbVie (NYSE: ABBV) is best known for its smash-hit immunology therapy Humira.Continue reading

Motley Fool

$300 a Month in These 3 Stocks Could Make You a Millionaire by Retirement

https://finance.yahoo.com/m/66858fd5-b945-3594-979d-d50d9337fb1f/-300-a-month-in-these-3.html

66858fd5-b945-3594-979d-d50d9337fb1f

ABBV

NORTH CHICAGO, Ill., June 6, 2023 /PRNewswire/ -- AbbVie (NYSE: ABBV) will participate in the Goldman Sachs 44th Annual Global Healthcare Conference on Wednesday, June 14, 2023. Robert A. Michael, vice chairman and president, Jeffrey R. Stewart, executive vice president, chief commercial officer and Roopal Thakkar, senior vice president, development and regulatory affairs and chief medical officer, will present at 10:00 a.m. Central time.A live audio webcast of the presentation will be accessible through AbbVie's Investor Relations website at investors.abbvie.com. An archived edition of the session will be available later that day.About AbbVieAbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology and gastroenterology, in addition to products and services across our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, Instagram, YouTube and LinkedIn. CisionView original content:https://www.prnewswire.com/news-releases/abbvie-to-present-at-the-goldman-sachs-44th-annual-global-healthcare-conference-301837200.htmlSOURCE AbbVie

PR Newswire

AbbVie to Present at the Goldman Sachs 44th Annual Global Healthcare Conference

https://finance.yahoo.com/news/abbvie-present-goldman-sachs-44th-120000090.html

2255722b-d965-3549-a905-fe8550dbd096

ABBV

Harding Loevner, an asset management company, released its “Global Equity Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the strategy returned 6.25% net of fees compared to a 7.44% return for the MSCI All Country World Index and 7.88% for the MSCI World Index. Exposure to the banking sector detracted the relative and absolute performance of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.Harding Loevner Global Equity Strategy highlighted stocks like AbbVie Inc. (NYSE:ABBV) in the first quarter 2023 investor letter. Headquartered in North Chicago, Illinois, AbbVie Inc. (NYSE:ABBV) is a global pharmaceutical company. On June 6, 2023, AbbVie Inc. (NYSE:ABBV) stock closed at $135.43 per share. One-month return of AbbVie Inc. (NYSE:ABBV) was -7.51%, and its shares lost 9.26% of their value over the last 52 weeks. AbbVie Inc. (NYSE:ABBV) has a market capitalization of $238.938 billion.Harding Loevner Global Equity Strategy made the following comment about AbbVie Inc. (NYSE:ABBV) in its Q1 2023 investor letter:"One of our two new additions to the portfolio is AbbVie Inc. (NYSE:ABBV), a US drugmaker best known for Humira, a medicine used to treat a variety of autoimmune diseases. AbbVie is building upon its maturing blockbuster Humira business by expanding its stable of autoimmune-disorder treatments with launches such as Skyrizi and Rinvoq, which have been well received and should support continued growth. Separately, we believe the slowdown in venture capital funding may foster more collaboration between biotechnology companies with promising, early-stage pipelines and large pharmaceutical companies. This may allow AbbVie to supplement its own pipeline at cheaper valuations than biotechs had commanded in recent years."drug factory, researcher,Copyright: kadmy / 123RF Stock PhotoAbbVie Inc. (NYSE:ABBV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 75 hedge fund portfolios held AbbVie Inc. (NYSE:ABBV) at the end of first quarter 2023 which was 73 in the previous quarter.Story continuesWe discussed AbbVie Inc. (NYSE:ABBV) in another article and shared the list of best dividend aristocrat stocks sorted by hedge fund popularity. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors. Suggested Articles:Top 10 Worst Places to Retire in Florida10 Best Copper Stocks to Buy11 Largest Tungsten Producing CountriesDisclosure: None. This article is originally published at Insider Monkey.

Insider Monkey

Should You Invest in AbbVie (ABBV)?

https://finance.yahoo.com/news/invest-abbvie-abbv-100034783.html

dd566265-25b9-34bd-8d15-89c38d2dbefc

ABBV

MONTREAL, June 7, 2023 /CNW/ - AbbVie (NYSE: ABBV), today announced that VRAYLAR is now listed as a Limited Use product on the formulary of the Non-Insured Health Benefits (NIHB)1 program for the treatment of schizophrenia.AbbVie logo (CNW Group/AbbVie Canada)Information regarding the specific reimbursement criteria may be found by consulting the link below:Non-Insured Health Benefits Program – Drug Benefit ListThis announcement comes 13 months after the authorization of VRAYLAR by Health Canada, bringing an additional treatment option to Canadians living with schizophrenia.Schizophrenia is a severe mental illness that can impact a person's ability to function, and often presents symptoms that can change over time. Symptoms can include hallucinations, disorganized speech, social withdrawal, and catatonic behaviour. An estimated 300,000 Canadians are impacted by schizophrenia.2About VRAYLAR® (cariprazine)3     VRAYLAR is an oral, once daily atypical antipsychotic indicated as monotherapy for the acute management of manic, mixed, and depressive episodes associated with bipolar l disorder in adults, as well as the treatment of schizophrenia in adults.The mechanism of action of cariprazine in schizophrenia and bipolar I disorder is unknown. However, the therapeutic effect of cariprazine may be mediated through a combination of partial agonist activity at central dopamine D3, D2 and serotonin 5-HT1A receptors and antagonist activity at 5-HT2A receptors. Cariprazine forms two major metabolites, desmethyl cariprazine (DCAR) and didesmethyl cariprazine (DDCAR), that have in vitro receptor binding and functional activity profiles similar to the parent drug.VRAYLAR is contraindicated in patients who are hypersensitive to cariprazine or to any ingredient in the formulation, including any non-medicinal ingredient, or component of the container.  VRAYLAR is also contraindicated with concomitant use with strong and moderate CYP3A4 inhibitors / inducers. Due to the slow elimination of cariprazine and its metabolites, treatment with strong and moderate CYP3A4 inhibitors must be initiated at least 2 weeks after VRAYLAR discontinuation.Story continuesVRAYLAR is being developed jointly by AbbVie and Gedeon Richter Plc, with AbbVie responsible for commercialization in the U.S., Canada, Japan, Taiwan and certain Latin American countries (including Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Mexico, Peru and Venezuela).Please consult the Vraylar Product Monograph for important safety information on serious warnings and precautions, other warnings and precautions, adverse reactions, interactions, dosing and conditions of use. The Product Monograph is also available by calling 1-888-704-8271._____________________________1 Non-Insured Health Benefits Program. https://nihb-ssna.express-scripts.ca/en/0205140506092019/16/160407  Accessed June 5, 2023.2 Schizophrenia Society of Canada. Learn more about Schizophrenia. Retrieved from https://schizophrenia.ca/learn-more-about-schizophrenia/.  Accessed June 20233 VRAYLAR Product Monograph. AbbVie Corporation. https://www.abbvie.ca/content/dam/abbvie-dotcom/ca/en/documents/products/VRAYLAR_PM_EN.pdf  Accessed June 2023About AbbVie AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.ca. Follow AbbVie Canada on Twitter, on Instagram or find us on LinkedIn.SOURCE AbbVie CanadaCisionView original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2023/07/c8271.html

CNW Group

AbbVie Announces Reimbursement for VRAYLAR® (cariprazine) for the Treatment of Schizophrenia under the Non-Insured Health Benefits (NIHB) Program

https://finance.yahoo.com/news/abbvie-announces-reimbursement-vraylar-cariprazine-110100536.html

a4d2b6a8-4ecc-3332-a8b9-1f29dce45e2b

ABBV

Vertex Pharmaceuticals Incorporated VRTX enjoys a dominant position in the cystic fibrosis (CF) market. Vertex’s CF sales continue to grow, driven by its triple therapy, Trikafta/Kaftrio. New reimbursement agreements in ex-U.S. markets and label expansions to younger age groups are driving Trikafta/Kaftrio sales higher, a trend expected to continue this year.While CF remains the main area of focus, Vertex is also developing treatments for sickle cell disease (SCD), beta thalassemia (TDT), acute and neuropathic pain, APOL1-mediated kidney disease (AMKD), type I diabetes, and alpha-1 antitrypsin (AAT) deficiency. It has earlier-stage programs in diseases such as muscular dystrophies.This year is expected to be a catalyst-rich year for Vertex. Multiple clinical milestones are expected in 2023 and 2024, both in its CF and non-CF portfolio.In the year so far, the stock has risen 19.5% against the industry’s 6.2% fall.Zacks Investment ResearchImage Source: Zacks Investment ResearchVertex is evaluating its medicines in younger patient populations and aims to have small-molecule treatments for most people with CF. Additionally, Vertex is also developing a mRNA therapeutic, VX-522, in partnership with Moderna MRNA for approximately 5,000 people with CF who cannot benefit from its CFTR modulators. Vertex and Moderna are conducting a single ascending dose (SAD) clinical study on VX-522, after the FDA cleared the investigational new drug application in December 2022. Vertex and Moderna expect to complete the SAD and initiate the multiple ascending dose study this year.Vertex is also conducting two pivotal phase III studies, evaluating a triple combination of vanzacaftor/VX-561, a CFTR potentiator, deutivacaftor/VX-121, a CFTR corrector, and tezacaftor in CF patients 12 years and older. This new once-a-day combination medicine has the potential for enhanced patient benefit than Trikafta patients and can potentially treat CF patients who have discontinued Trikafta or other Vertex CF medicines. The studies are expected to be completed by the end of 2023. Vertex also initiated the pivotal development of vanzacaftor/tezacaftor/deutivacaftor in patients 6 to 11 years oldStory continuesWith AbbVie ABBV discontinuing its CF program recently, we believe, Vertex’s position is further strengthened in this market. AbbVie announced on the first-quarter conference call that it is discontinuing its cystic fibrosis program. The company analyzed data from an ongoing proof-of-concept study evaluating a triple combination therapy in CF. The results from the interim analysis did not meet AbbVie’s internal criteria for advancing the CF program, which prompted AbbVie to end the CF program.While Vertex’s main focus is on the development and strengthening of its CF franchise, the company also has a rapidly advancing mid-to-late stage pipeline in eight disease areas beyond CF like acute pain, SCD, TDT, AMKD, AAT deficiency and cell therapy for type I diabetes. Many of these candidates represent multibillion-dollar opportunities. Six of the programs are past the proof-of-concept stage.Vertex has co-developed a gene-editing treatment, exa-cel (formerly CTX001), in partnership with CRISPR Therapeutics CRSP, for two devastating diseases — SCD and TDT. Vertex is gearing up for the next commercial launch opportunity for exa-cel in SCD and TDT, with exa-cel’s BLA filing with the FDA now complete for both indications. Vertex expects the FDA to grant a priority review to the BLA. Vertex and CRISPR Therapeutics’ submissions on exa-cel in Europe and the United Kingdom are also under review.Among its other CF programs, investors are paying a lot of attention to pain asset VX-548, which, they believe, has blockbuster potential. VX-548, a novel first-in-class, non-opioid NaV1.8 inhibitor, is being evaluated in two pivotal phase III acute pain studies, one following bunionectomy surgery and the other following abdominoplasty surgery. The pivotal program is expected to be completed in late 2023 or early 2024. Vertex initiated a phase II study of VX-548 in diabetic peripheral neuropathy, a form of peripheral neuropathic pain, in the fourth quarter of 2022. The neuropathic pain study is also expected to be completed in late 2023 or early 2024.Vertex currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportVertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis ReportModerna, Inc. (MRNA) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportCRISPR Therapeutics AG (CRSP) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Vertex (VRTX) Stock Poised Well for Growth in 2023: Here's Why

https://finance.yahoo.com/news/vertex-vrtx-stock-poised-well-125500136.html

945f5c02-d6a6-307a-b95b-82ccf4e90d11

ABBV

Over the past year, many AbbVie Inc. (NYSE:ABBV) insiders sold a significant stake in the company which may have piqued investors' interest. When evaluating insider transactions, knowing whether insiders are buying versus if they selling is usually more beneficial, as the latter can be open to many interpretations. However, if numerous insiders are selling, shareholders should investigate more.While insider transactions are not the most important thing when it comes to long-term investing, logic dictates you should pay some attention to whether insiders are buying or selling shares. Check out our latest analysis for AbbVie The Last 12 Months Of Insider Transactions At AbbVieOver the last year, we can see that the biggest insider sale was by the Executive VP & Chief Commercial Officer, Jeffrey Stewart, for US$4.8m worth of shares, at about US$152 per share. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. The good news is that this large sale was at well above current price of US$137. So it is hard to draw any strong conclusion from it.Insiders in AbbVie didn't buy any shares in the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!insider-trading-volumeIf you are like me, then you will not want to miss this free list of growing companies that insiders are buying.Insiders At AbbVie Have Sold Stock RecentlyThe last three months saw significant insider selling at AbbVie. In total, insiders sold US$6.0m worth of shares in that time, and we didn't record any purchases whatsoever. This may suggest that some insiders think that the shares are not cheap.Insider OwnershipFor a common shareholder, it is worth checking how many shares are held by company insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. AbbVie insiders own about US$257m worth of shares (which is 0.1% of the company). Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.Story continuesWhat Might The Insider Transactions At AbbVie Tell Us?Insiders haven't bought AbbVie stock in the last three months, but there was some selling. And there weren't any purchases to give us comfort, over the last year. The company boasts high insider ownership, but we're a little hesitant, given the history of share sales. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. While conducting our analysis, we found that AbbVie has 5 warning signs and it would be unwise to ignore them.But note: AbbVie may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.Join A Paid User Research SessionYou’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here

Simply Wall St.

AbbVie Insiders Sell US$8.4m Of Stock, Possibly Signalling Caution \

https://finance.yahoo.com/news/abbvie-insiders-sell-us-8-120034462.html

a0a6c9f4-24ff-3984-bc60-fe6398acef4e

ABBV

Due to the highly competitive nature of the pharmaceutical industry, it is no easy task to replace the aging stars in a drug portfolio. Teva Pharmaceutical (NYSE: TEVA) illustrates this point nicely. In the middle of the last decade, Teva lost exclusivity for its multiple sclerosis medication Copaxone.Continue reading

Motley Fool

Is AbbVie or Amgen the Better Bargain Buy Right Now?

https://finance.yahoo.com/m/e4acb904-59f3-31c4-8ba3-f7331c38951b/is-abbvie-or-amgen-the-better.html

e4acb904-59f3-31c4-8ba3-f7331c38951b

ABBV

In this article, we discuss 10 reliable dividend stocks billionaires are loading up on. You can skip our detailed analysis of dividend stocks and their performance, and go directly to read 5 Reliable Dividend Stocks Billionaires Are Loading Up On. Dividends have been one of the potential income sources for wealthy investors. According to a report published by Tax Policy Center in 2015, dividends represented 15% to 20% of the income of American taxpayers making $10 million or more. This assessment is not confined to the US only, various studies have also been published that support the significance of dividend income in billionaires’ wealth. While 2020 was a difficult year for the average Australian citizen, at least 11 billionaires in the country received tens of millions of dollars in dividends from companies on JobKeeper, a wage subsidy available to help small businesses affected by the pandemic, as reported by The Guardian.Also read: 15 Best Dividend Stocks To Buy and HoldQuality dividend companies are popular among billionaire investors as they tend to be more established and know how to balance their dividend payouts with other priorities. Cash flow generation and growth prospects also drive investors to load up on dividend stocks. Dividend payouts have shown a consistent upward trend over the past years as companies worldwide demonstrated stability and confidence in their business operations. The trend is most likely to continue this year as well. Janus Henderson expects global dividends to reach $1.64 trillion in 2023, up 5% from the last year.Along with dividend growth, analysts and investors also pay attention to dividend yields when investing in dividend stocks. Yields between 3% to 6% are generally considered healthy as stocks within this range can generate a meaningful income stream without relying solely on capital gains. To learn more about safe dividend stocks with high yields, readers can have a look at 15 Best High Yield Dividend Stocks to Buy.Story continuesGoldman Sachs Chief US Equity Strategist David Kostin highlighted the importance of strong dividend payers in his Business Insider interview. He said that big-dividend payers are great investment options in the current inflationary environment where overall dividend growth is better than buyback growth. Some of the most reliable dividend stocks that are grabbing the attention of billionaire investors include Walmart Inc. (NYSE:WMT), AbbVie Inc. (NYSE:ABBV), The Procter & Gamble Company (NYSE:PG), and others that are discussed below.Reliable Dividend Stocks Billionaires Are Loading Up OnPhoto by Karolina Grabowska: https://www.pexels.com/photo/hands-holding-us-dollar-bills-4968630/Our Methodology:For this article, we first scanned the database of billionaire-owned stocks maintained by Insider Monkey as of Q1 2023. From this database, we picked dividend stocks with at least 10 years of consecutive dividend growth, which shows that these stocks are the most reliable investment options for billionaire investors. We also measured hedge fund sentiment around each stock from our database of 943 hedge funds at the end of Q1. The stocks are ranked in ascending order of the number of billionaire investors having stakes in them.10. The Sherwin-Williams Company (NYSE:SHW)Number of Billionaire Investors: 17 Number of Hedge Fund Holders: 68The Sherwin-Williams Company (NYSE:SHW) is an American paint and coating manufacturing company, based in Ohio. In the first quarter of 2023, the company reported an operating cash flow of $88.2 million, mainly driven by higher profits. Due to its strong cash position, the company was able to return $458.2 million to shareholders through dividends and share repurchases. It is one of the most reliable dividend stocks on our list that attracted the attention of 17 billionaires in Q1, including Ken Fisher and D. E. Shaw.The Sherwin-Williams Company (NYSE:SHW) currently pays a quarterly dividend of $0.605 per share. The company has been growing its dividends for 44 years. The stock's dividend yield on June 2 came in at 1.03%. Walmart Inc. (NYSE:WMT), AbbVie Inc. (NYSE:ABBV), and The Procter & Gamble Company (NYSE:PG) are other prominent dividend stocks among investors.In May, Jefferies upgraded The Sherwin-Williams Company (NYSE:SHW) to Buy with a $275 price target, up from $240. The firm highlighted that the stock's risk/reward is improving, which is also benefitting the company's sales.At the end of Q1 2023, 68 hedge funds tracked by Insider Monkey owned stakes in The Sherwin-Williams Company (NYSE:SHW), up from 64 in the previous quarter. These stakes have a collective value of nearly $2.8 billion.ClearBridge Investments mentioned The Sherwin-Williams Company (NYSE:SHW) in its Q4 2022 investor letter. Here is what the firm has to say:“A third approach to return generation is purchasing idiosyncratic businesses that largely control their own destiny. We saw mixed results from this group in the fourth quarter, with paint and coatings maker The Sherwin-Williams Company (NYSE:SHW) benefiting from significant pricing power that will allow it to grow earnings handsomely with only modest revenue increases.”9. Johnson & Johnson (NYSE:JNJ)Number of Billionaire Investors: 17 Number of Hedge Fund Holders: 86Johnson & Johnson (NYSE:JNJ) is next on our list of reliable dividend stocks billionaires are loading up on. The American pharmaceutical company has been raising its dividends consistently for the past 62 years. It currently pays a quarterly dividend of $1.19 per share and has a dividend yield of 3.09%, as of June 2.In the first quarter of 2023, Johnson & Johnson (NYSE:JNJ) reported revenue of $24.7 billion, which showed a 5.6% growth from the same period last year. The company's revenue also beat analysts' estimates by $1.09 billion. Its MedTech sector also showed a 7.3% year-over-year growth with sales amounting to over $7.4 billion.Citigroup resumed its coverage on Johnson & Johnson (NYSE:JNJ) in May with a Buy rating and a $185 price target. The firm noted that the company has world-leading medical technology and pharmaceutical franchises.As of the close of Q1 2023, 86 hedge funds in Insider Monkey's database held stakes in Johnson & Johnson (NYSE:JNJ), compared with 84 in the previous quarter. These stakes have a consolidated value of over $4.5 billion. With over 4.8 million shares, billionaire Ken Griffin's Citadel Investment Group was the company's leading stakeholder in Q1.8. Colgate-Palmolive Company (NYSE:CL)Number of Billionaire Investors: 18 Number of Hedge Fund Holders: 55Colgate-Palmolive Company (NYSE:CL) is an American diversified company that manufactures and distributes household and commercial products. Following the company's strong Q1 earnings, Deutsche Bank raised its price target on the stock to $88 and kept a Buy rating on the shares.Colgate-Palmolive Company (NYSE:CL) generated revenue of $4.77 billion in Q1 2023, up 8.4% from the same period last year. Its operating cash flow came in at $735 million, growing from $386 million in the prior-year period. The company's free cash flow for the quarter stood at $572 million before dividend payments. Colgate-Palmolive Company (NYSE:CL) is one of the most reliable dividend stocks with 18 billionaire investors as of Q1.Colgate-Palmolive Company (NYSE:CL) offers a quarterly dividend of $0.48 per share. The company holds a 61-year streak of dividend growth. The stock has a dividend yield of 2.55%, as of June 2.The number of hedge funds tracked by Insider Monkey owning stakes in Colgate-Palmolive Company (NYSE:CL) stood at 55 in Q1 2023. The total value of these stakes is over $3.2 billion. Cliff Asness, Ray Dalio, and Steve Cohen were some of the most prominent billionaires having stakes in the company.Third Point Management made the following comment about Colgate-Palmolive Company (NYSE:CL) in its Q1 2023 investor letter:“Existing positions in LVMH, Disney and Microsoft gained while FIS, Bath & Body Works, and Colgate-Palmolive Company (NYSE:CL) posted losses after their management teams lowered 2023 guidance despite reporting solid quarterly results. FIS and Colgate have both since “beat and raised” this guidance, indicating that many management teams are adopting very conservative tones in this uncertain macro environment.”7. The Coca-Cola Company (NYSE:KO)Number of Billionaire Investors: 18 Number of Hedge Fund Holders: 61The Coca-Cola Company (NYSE:KO) is a multinational beverage company that also manufactures non-alcoholic beverage concentrates and syrups. In April, Barclays raised its price target on the stock to $73 and maintained an Overweight rating on the shares. The firm highlighted that the company reported a strong start to 2023 with a 'Q1 profit beat'.The Coca-Cola Company (NYSE:KO) reported an operating cash flow of $160 million and its free cash flow came in at $120 million in the first quarter of 2023. For FY23, the company expects to generate approximately $9.5 billion in free cash flow and $11.4 billion in operating cash flow.On April 26, The Coca-Cola Company (NYSE:KO) declared a quarterly dividend of $0.46 per share, which was in line with its previous dividend. The stock's dividend yield on June 2 came in at 3.03%. It is one of the most reliable dividend stocks among billionaires with 61 years of consecutive dividend growth.As per Insider Monkey's Q1 2023 database, 61 hedge funds owned stakes in The Coca-Cola Company (NYSE:KO), up from 58 in the preceding quarter. These stakes are collectively valued at over $27.5 billion. Billionaire Warren Buffett's Berkshire Hathaway owned the largest stake in the company, worth $24.8 billion.6. Apple Inc. (NASDAQ:AAPL)Number of Billionaire Investors: 18 Number of Hedge Fund Holders: 131Apple Inc. (NASDAQ:AAPL) is one of the world's leading tech companies that manufactures a wide range of accessories and other tech-related equipment. The company's cash position remained strong in the first quarter of 2023, as it generated over $28.6 billion in operating cash flow. It also distributed over $23 billion to shareholders in dividends and share repurchases during the quarter. AAPL is among the most reliable dividend stocks billionaires are loading up on as of Q1, such as Warren Buffett, D. E. Shaw, and Ken Griffin.On May 4, Apple Inc. (NASDAQ:AAPL) declared a 4.3% hike in its quarterly dividend to $0.24 per share. This marked the company's 11th consecutive year of dividend growth. The stock has a dividend yield of 0.53%, as recorded on June 2. Though Apple Inc. (NASDAQ:AAPL) pays quarterly dividends to shareholders, many companies also offer monthly payments to investors. To know more about this, read 13 Best Monthly Dividend Stocks to Buy. In addition to AAPL, Walmart Inc. (NYSE:WMT), AbbVie Inc. (NYSE:ABBV), and The Procter & Gamble Company (NYSE:PG) are other reliable dividend stocks popular among billionaire investors.Canaccord noted that Apple Inc. (NASDAQ:AAPL)'s results in Q1 demonstrate its share gains in the higher-end markets. In view of this, the firm lifted its price target on the stock in May to $185 and kept a Buy rating on the shares.At the end of Q1 2023, 131 hedge funds tracked by Insider Monkey held stakes in Apple Inc. (NASDAQ:AAPL), worth collectively over $165.2 billion. Warren Buffett and Ken Griffin were some of the company's leading stakeholders in Q1.Fred Alger Management mentioned reasons for Apple Inc. (NASDAQ:AAPL)'s outperformance in its Q1 2023 investor letter:“Apple Inc. (NASDAQ:AAPL) is a leading technology provider in telecommunications, computing, and services. Apple’s iOS operating system is the company’s unique intellectual property and competitive strength. This software drives particularly tight engagement with consumers and enterprises, which is fostering the growing purchase of high margin services like music, apps, and Apple Pay. While iPhone sales were down year-over-year (YoY). services revenues grew 7% YoY which was slightly above analyst estimates. Company earnings were also better-than-anticipated due to lower input costs, such as memory chips and cost control initiatives. Aside from production disruptions, negative sentiment had also weighed on shares as investors questioned how an economic slowdown would affect consumer demand for Apple products in 2023. However, management projected an acceleration in earnings for the fiscal first quarter, where they noted that iPhone and services growth should remain strong, along with encouraging impacts around product mix, lower input costs, and continued cost controls.” Click to continue reading and see 5 Reliable Dividend Stocks Billionaires Are Loading Up On.  Suggested articles:15 Most Undervalued Growth Stocks To Buy14 Best Self-Driving Car Stocks To Invest In10 Best June Dividend Stocks To BuyDisclosure. None. 10 Reliable Dividend Stocks Billionaires Are Loading Up On is originally published on Insider Monkey.

Insider Monkey

10 Reliable Dividend Stocks Billionaires Are Loading Up On

https://finance.yahoo.com/news/10-reliable-dividend-stocks-billionaires-214229118.html

b5f8dfb3-623d-3a8c-b6df-616c4c2a04b4

ABBV

Data from two studies continue to show the long-term efficacy and safety of fixed-duration venetoclax combination regimens across different lines of therapy in CLL Six-year median follow-up from the Phase 3 CLL14 study shows continued PFS after treatment with venetoclax plus obinutuzumab compared to treatment with chlorambucil plus obinutuzumab in previously untreated patients with CLL and co-existing conditionsFinal seven-year follow-up results of the Phase 3 MURANO trial demonstrate sustained PFS and overall survival (OS) with venetoclax and rituximab compared to bendamustine and rituximab in patients with relapsed/refractory (R/R) CLLNORTH CHICAGO, Ill., June 9, 2023 /PRNewswire/ -- AbbVie (NYSE: ABBV) today announced new findings demonstrating sustained long-term safety and efficacy of VENCLYXTO®/ VENCLEXTA® (venetoclax)-based combination therapies in patients with previously untreated CLL with co-existing conditions, as well as R/R CLL. The results are being presented during oral sessions at the European Hematology Association (EHA) Annual Congress in Frankfurt, Germany."Results from the CLL14 and MURANO studies demonstrate the long-term benefits of fixed-duration venetoclax combinations for patients living with CLL," said Mariana Cota Stirner, M.D., Ph.D., vice president, hematology, AbbVie. "These results underscore our commitment to transform how blood cancers are treated today and show that venetoclax can give patients lasting results with time off treatment."CLL14 Long-Term AnalysisNew six-year follow-up results from the Phase 3 CLL14 study showcase updated outcomes in previously untreated patients with CLL and co-existing conditions. Patients treated with fixed-duration venetoclax plus obinutuzumab continued to experience improved PFS (95% Confidence Interval (CI) 0.31-0.52; Hazard Ratio (HR) 0.40) and higher rates of undetectable minimal residual disease (uMRD) when treated with fixed-duration venetoclax plus obinutuzumab compared to those who received chlorambucil plus obinutuzumab (53.1% vs 21.7%, respectively).Story continuesThe data also showed significantly improved rates of time to next treatment (TTNT) with venetoclax plus obinutuzumab at 65.2 percent (95% CI 0.33-0.58; HR 0.44) compared to chlorambucil plus obinutuzumab at 37.1 percent.1 The observed differences in PFS and TTNT benefits between venetoclax-based treatment and chemoimmunotherapy were maintained across all risk groups, including patients with high-risk molecular features of CLL.No new safety signals were observed in this six-year analysis. The most frequently occurring Grade 3 (≥2%) adverse events (AEs) in patients receiving the venetoclax-based combination were neutropenia, thrombocytopenia, infusion-related reaction (during treatment), anemia, febrile neutropenia, pneumonia and leukopenia.1"The latest findings show that patients can experience long-term disease control, five years after stopping treatment," said Othman Al-Sawaf, M.D., investigator in the CLL14 study, hematologist-oncologist at the University Hospital Cologne in Germany, and study physician at the German CLL Study Group. "These results confirm the treatment benefits of fixed-duration venetoclax and obinutuzumab for previously untreated CLL patients with co-existing conditions."Results will also be featured at EHA's Press Briefing.MURANO Long-Term AnalysisFinal data from the Phase 3 MURANO trial showcase that R/R CLL patients treated with two-year fixed-duration venetoclax plus rituximab sustained significantly longer median PFS at 54.7 months (95% CI 52.3, 59.9), the study's primary endpoint, compared to 17.0 months (95% CI 15.5, 21.7; HR 0.23) with bendamustine plus rituximab after 7 years of median follow-up.2Seven-year OS rates were 69.6 percent (95% CI 62.8, 76.5) for patients treated with the venetoclax-based combination versus 51 percent (95% CI 43.3, 58.7) for study participants who received bendamustine-based combination (HR 0.53).2 Furthermore, most of the patients treated with the full two-year venetoclax-based combination achieved uMRD (70.3%) at the end of their treatment course, and those patients were shown to have improved PFS and OS compared to patients with detectable MRD (29.7%).The safety profile of the venetoclax-rituximab combination is consistent with the known safety profile of each individual therapy alone. No new serious safety issues were observed in the MURANO updated analysis. The most common adverse reactions (ARs) (≥20%) of any grade were neutropenia, diarrhea, upper respiratory tract infection, fatigue, and nausea."We are pleased to find that uMRD was associated with prolonged PFS in R/R CLL patients after seven years," said study investigator Prof. John Seymour, Director of the Integrated Haematology Department of the Peter MacCallum Cancer Center and the Royal Melbourne Hospital in Melbourne. "Overall, these findings continue to support the use of treatment with venetoclax plus rituximab in this patient population."VENCLYXTO/VENCLEXTA is being developed by AbbVie and Roche. It is jointly commercialized by AbbVie and Genentech, a member of the Roche Group, in the U.S. and by AbbVie outside of the U.S.About the CLL14 Phase 3 Trial1,3The prospective, multicenter, open-label, randomized Phase 3 CLL14 trial, which was conducted in close collaboration with the German CLL Study Group (GCLLSG), evaluated the efficacy and safety of a combined regimen of VENCLYXTO/VENCLEXTA and obinutuzumab (n=216) versus obinutuzumab and chlorambucil (n=216) in previously untreated patients with CLL and co-existing medical conditions (total Cumulative Illness Rating Scale [CIRS] score >6 or creatinine clearance <70 mL/min). The therapies were administered for a fixed-duration of 12 months for VENCLYXTO/VENCLEXTA in combination with six cycles of obinutuzumab. The trial enrolled 432 patients, all of whom were previously untreated, according to the International Workshop on Chronic Lymphocytic Leukemia (iwCLL) criteria. Efficacy was based on PFS, as assessed by an independent review committee.Key secondary endpoints were rates of MRD in peripheral blood and bone marrow, overall and complete response rates, MRD in complete response in peripheral blood and bone marrow, and OS.In patients with CLL receiving venetoclax combination therapy with obinutuzumab, the most frequently occurring ≥ Grade 3 AEs (≥2%) were neutropenia (51.9%), thrombocytopenia (14.2%), infusion-related reaction (9.0%), anemia (7.5%), febrile neutropenia (4.2%), pneumonia (3.8%) and leukopenia (2.4%). Serious ARs were most often due to febrile neutropenia and pneumonia (5% each). The most common ARs (≥20%) of any grade were neutropenia (60%), diarrhea (28%), and fatigue (21%). Fatal ARs that occurred in the absence of disease progression and with onset within 28 days of the last study treatment were reported in 2 percent (4/212) of patients, most often from infection.About the MURANO Phase 3 Trial2,4A total of 389 patients with R/R CLL who had received at least one prior therapy were enrolled in the international, multicenter, open-label, randomized Phase 3 MURANO trial. The trial was designed to evaluate the efficacy and safety of VENCLYXTO/VENCLEXTA and rituximab (n=194) compared with bendamustine and rituximab (n=195). The median age of patients in the trial was 65 years (range: 22 to 85).The trial met its primary efficacy endpoint of investigator (INV)-assessed PFS. At the time of the primary analysis, median PFS with VENCLYXTO/VENCLEXTA and rituximab was not reached compared with 17.0 months for bendamustine and rituximab (HR: 0.17; 95% CI: 0.11- 0.25; p<0.0001). In the primary efficacy analysis, the median follow-up for PFS was 23.8 months (range: 0 to 37.4). Additional efficacy endpoints included independent review committee (IRC)-assessed PFS, INV- and IRC-assessed overall response rate (defined as complete response + complete response with incomplete marrow recovery + partial response + nodular partial response), OS and rates of MRD-negativity.In patients with CLL receiving combination therapy with rituximab, the most frequent serious adverse reaction (AR; ≥5%) was pneumonia (9%). The most common ARs (≥20%) of any grade were neutropenia (65%), diarrhea (40%), upper respiratory tract infection (39%), fatigue (22%), and nausea (21%). Fatal ARs that occurred in the absence of disease progression and within 30 days of the last venetoclax treatment and/or 90 days of the last rituximab were reported in 2% (4/194) of patients.About VENCLYXTO® (venetoclax)VENCLYXTO® (venetoclax) is a first-in-class medicine that selectively binds and inhibits the B-cell lymphoma-2 (BCL-2) protein. In some blood cancers, BCL-2 prevents cancer cells from undergoing their natural death or self-destruction process, called apoptosis. VENCLYXTO targets the BCL-2 protein and works to help restore the process of apoptosis.VENCLYXTO is being developed by AbbVie and Roche. It is jointly commercialized by AbbVie and Genentech, a member of the Roche Group, in the U.S. and by AbbVie outside of the U.S. Together, the companies are committed to BCL-2 research and to studying venetoclax in clinical trials across several blood and other cancers. Venetoclax is approved in more than 80 countries, including the U.S.Indication and Important VENCLYXTO (venetoclax) EU Safety Information5IndicationsVenclyxto in combination with obinutuzumab is indicated for the treatment of adult patients with previously untreated chronic lymphocytic leukaemia (CLL).Venclyxto in combination with rituximab is indicated for the treatment of adult patients with CLL who have received at least one prior therapy.Venclyxto monotherapy is indicated for the treatment of CLL:In the presence of 17p deletion or TP53 mutation in adult patients who are unsuitable for or have failed a B-cell receptor pathway inhibitor, orIn the absence of 17p deletion or TP53 mutation in adult patients who have failed both chemoimmunotherapy and a B-cell receptor pathway inhibitor.Venclyxto in combination with a hypomethylating agent is indicated for the treatment of adult patients with newly diagnosed acute myeloid leukaemia (AML) who are ineligible for intensive chemotherapy.ContraindicationsHypersensitivity to the active substance or to any of the excipients is contraindicated. Concomitant use of strong CYP3A inhibitors at initiation and during the dose-titration phase due to increased risk for tumour lysis syndrome (TLS). Concomitant use of preparations containing St. John's wort as Venclyxto efficacy may be reduced.Special Warnings & Precautions for UseTumour Lysis syndrome, including fatal events, has occurred in patients when treated with Venclyxto. For CLL and AML, please refer to the indication-specific recommendations for prevention of TLS in the Venclyxto summary of product characteristic (SmPC).Patients should be assessed for risk and should receive appropriate prophylaxis, monitoring, and management for TLS. The risk of TLS is a continuum based on multiple factors, including comorbidities. Venclyxto poses a risk for TLS at initiation and during the dose-titration phase. Changes in electrolytes consistent with TLS that require prompt management can occur as early as 6 to 8 hours following the first dose of Venclyxto and at each dose increase.Neutropenia (grade 3 or 4) has been reported. Complete blood counts should be monitored throughout the treatment period.In patients with AML, neutropenia (grade 3 or 4) is common before starting treatment. The neutrophil counts can worsen with Venetoclax in combination with a hypomethylating agent. Neutropenia can recur with subsequent cycles of therapy. Dose modification and interruptions for cytopenias are dependent on remission status.For CLL and AML, please refer to the indication-specific recommendations for dose modifications for toxicities in the Venclyxto SmPC.Serious infections including sepsis with fatal outcome have been reported. Monitoring of any signs and symptoms of infection is required. Suspected infections should receive prompt treatment including antimicrobials and dose interruption or reduction as appropriate. Live vaccines should not be administered during treatment or thereafter until B-cell recovery.Drug InteractionsIn CLL and AML CYP3A inhibitors may increase Venclyxto plasma concentrations.In CLL, at initiation and dose-titration phase, Strong CYP3A inhibitors are contraindicated due to increased risk for TLS and moderate CYP3A inhibitors should be avoided. If moderate CYP3A inhibitors must be used, please refer to the recommendations for dose modifications in the Venclyxto SmPC.In AML, please refer to the AML-specific recommendation for dose modifications for potential interactions with CYP3A inhibitors, in the VENCLYXTO SmPC.Avoid concomitant use of P-gp and BCRP inhibitors at initiation and during the dose titration phase.CYP3A4 inducers may decrease Venclyxto plasma concentrations.  Avoid coadministration with strong or moderate CYP3A inducers. These agents may decrease venetoclax plasma concentrations.Co-administration of bile acid sequestrants with VENCLYXTO is not recommended as this may reduce the absorption of VENCLYXTO.Adverse ReactionsCLLThe most commonly occurring adverse reactions (>=20%) of any grade in patients receiving venetoclax in the combination studies with obinutuzumab or rituximab were neutropenia, diarrhoea, and upper respiratory tract infection. In the monotherapy studies, the most common adverse reactions were neutropenia/neutrophil count decreased, diarrhoea, nausea, anaemia, fatigue, and upper respiratory tract infection.The most frequently occurring serious adverse reactions (>=2%) in patients receiving venetoclax in combination with obinutuzumab or rituximab were pneumonia, sepsis, febrile neutropenia, and TLS.  In the monotherapy studies, the most frequently reported serious adverse reactions (>=2%) were pneumonia and febrile neutropenia.Discontinuations due to adverse reactions occurred in 16% of patients treated with venetoclax in combination with obinutuzumab or rituximab in the CLL14 and Murano studies, respectively.  In the monotherapy studies with venetoclax, 11% of patients discontinued due to adverse reactions.Dosage reductions due to adverse reactions occurred in 21% of patients treated with the combination of venetoclax and obinutuzumab in CLL14, in 15% of patients treated with the combination of venetoclax and rituximab in Murano, and in 14% of patients treated with venetoclax in the monotherapy studies. The most common adverse reaction that led to dose interruptions was neutropenia.AMLThe most commonly occurring adverse reactions (>=20%) of any grade in patients receiving venetoclax in combination with azacitidine or decitabine in the VIALE-A and M14-358, respectively, were thrombocytopenia, neutropenia, febrile neutropenia, nausea, diarrhoea, vomiting, anaemia, fatigue, pneumonia, hypokalaemia, and decreased appetite, haemorrhage, dizziness/syncope, hypotension, headache, abdominal pain, and anaemia.The most frequently reported serious adverse reactions (≥5%) in patients receiving venetoclax in combination with azacitidine were febrile neutropenia, pneumonia, sepsis and haemorrhage. In M14-358, the most frequently reported serious adverse reactions (≥5%) were febrile neutropenia, pneumonia, bacteraemia and sepsis.Discontinuations due to adverse reactions occurred in 24% of patients treated with venetoclax in combination with azacitidine in the VIALE-A study, and 26% of patients treated with venetoclax in combination with decitabine in the M14-358 study, respectively.Dosage reductions due to adverse reactions occurred in 2% of patients in VIALE-A, and in 6% of patients in M14-358. Venetoclax dose interruptions due to adverse reactions occurred in 72% and 65% of patients, respectively. The most common adverse reaction that led to dose interruption (>10%) of Venetoclax in VIALE-A, were febrile neutropenia, neutropenia, pneumonia, and thrombocytopenia.  The most common adverse reactions that led to dose interruption (≥5%) of venetoclax in M14-358 were febrile neutropenia, neutropenia/neutrophil count decreased, pneumonia, platelet count decreased, and white blood cell count decreased.Special PopulationsPatients with reduced renal function (CrCl <80 mL/min) may require more intensive prophylaxis and monitoring to reduce the risk of TLS at initiation and during the dose-titration phase.  Safety in patients with severe renal impairment (CrCl <30 mL/min) or on dialysis has not been established, and a recommended dose for these patients has not been determined.For patients with severe (Child-Pugh C) hepatic impairment, a dose reduction of at least 50% throughout treatment is recommended.Venclyxto may cause embryo-fetal harm when administered to a pregnant woman. Advise nursing women to discontinue breastfeeding during treatment.This is not a complete summary of all safety information. See Venclyxto (venetoclax) SmPC at www.ema.europa.eu. Globally, prescribing information varies; refer to the individual country product label for complete information.About AbbVie in OncologyAt AbbVie, we are committed to transforming standards of care for multiple blood cancers while advancing a dynamic pipeline of investigational therapies across a range of cancer types. Our dedicated and experienced team joins forces with innovative partners to accelerate the delivery of potentially breakthrough medicines. We are evaluating more than 20 investigational medicines in over 300 clinical trials across some of the world's most widespread and debilitating cancers. As we work to have a remarkable impact on people's lives, we are committed to exploring solutions to help patients obtain access to our cancer medicines. For more information, please visit http://www.abbvie.com/oncology and our Blood Cancer Press Kit page.About AbbVieAbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology and gastroenterology, in addition to products and services across our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, Instagram, YouTube and LinkedIn.AbbVie Forward-Looking StatementsSome statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2022 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its subsequent Quarterly Reports on Form 10-Q. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.ReferencesAl-Sawaf O, et al.  Venetoclax-Obinutuzumab for previously untreated chronic lymphocytic leukemia: 6-year results of the randomized CLL14 study. Abstract No. S145. Presented orally at European Hematology Association 2023 Hybrid Congress, Frankfurt, Germany, June 8-11.Arnon P Kater, et al. Final seven-year follow-up and retreatment substudy analysis of MURANO: Venetoclax-rituximab (VenR)-treated patients with relapsed with relapsed/refractory chronic lymphocytic leukemia (R/R CLL). Abstract No. S201. Presented orally at European Hematology Association 2023 Hybrid Congress, Frankfurt, Germany, June 8-11.Fischer K, et al. Venetoclax and obinutuzumab in patients with CLL and coexisting conditions. N Engl J Med. 2019;380:2225-2236.Seymour JF, et al. Venetoclax-rituximab in relapsed or refractory chronic lymphocytic leukemia. N Engl J Med. 2018;378(12):1107-1120Summary of Product Characteristics for VENCLYXTO (venetoclax). Ludwigshafen, Germany: AbbVie Deutschland GmbH & Co. KG. CisionView original content:https://www.prnewswire.com/news-releases/abbvies-venclyxtovenclexta-venetoclax-continues-to-show-sustained-progression-free-survival-pfs-in-chronic-lymphocytic-leukemia-cll-patients-301846690.htmlSOURCE AbbVie

PR Newswire

AbbVie's VENCLYXTO®/VENCLEXTA® (venetoclax) Continues to Show Sustained Progression-Free Survival (PFS) in Chronic Lymphocytic Leukemia (CLL) Patients

https://finance.yahoo.com/news/abbvies-venclyxto-venclexta-venetoclax-continues-070000667.html

973114fa-7f0d-3aae-9aba-4d4cebcb317f

ABBV

AbbVie (ABBV) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this drugmaker have returned -6.1% over the past month versus the Zacks S&P 500 composite's +4% change. The Zacks Large Cap Pharmaceuticals industry, to which AbbVie belongs, has lost 2.3% over this period. Now the key question is: Where could the stock be headed in the near term?While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For the current quarter, AbbVie is expected to post earnings of $2.93 per share, indicating a change of -13.1% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.2% over the last 30 days.For the current fiscal year, the consensus earnings estimate of $10.97 points to a change of -20.3% from the prior year. Over the last 30 days, this estimate has changed +0.1%.Story continuesFor the next fiscal year, the consensus earnings estimate of $11.04 indicates a change of +0.6% from what AbbVie is expected to report a year ago. Over the past month, the estimate has changed +0.2%.With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for AbbVie.The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:12 Month EPSRevenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.In the case of AbbVie, the consensus sales estimate of $13.52 billion for the current quarter points to a year-over-year change of -7.3%. The $52.57 billion and $53.08 billion estimates for the current and next fiscal years indicate changes of -9.5% and +1%, respectively.Last Reported Results and Surprise HistoryAbbVie reported revenues of $12.23 billion in the last reported quarter, representing a year-over-year change of -9.7%. EPS of $2.46 for the same period compares with $3.16 a year ago.Compared to the Zacks Consensus Estimate of $12.08 billion, the reported revenues represent a surprise of +1.17%. The EPS surprise was +0.82%.The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates just once over this period.ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.AbbVie is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about AbbVie. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Here is What to Know Beyond Why AbbVie Inc. (ABBV) is a Trending Stock

https://finance.yahoo.com/news/know-beyond-why-abbvie-inc-130013503.html

604ae0ee-ec4a-398d-ac6e-024226849cb5

ABBV

Pharmaceutical companies Novo Nordisk (NYSE: NVO) and AbbVie (NYSE: ABBV) seem to be headed in separate directions. Denmark-based Novo Nordisk, thanks to growing sales of diabetes drug Ozempic and obesity therapy Wegovy, is predicting sales to grow between 24% to 30% and operating profit to rise 28% to 34% this year. AbbVie, on the other hand, thanks to the loss of patent protection for immunology blockbuster Humira, has forecasted 2023 adjusted earnings per share (EPS) to drop by 20% to 23%, from 2022 levels.Continue reading

Motley Fool

Better Long-Term Buy: AbbVie or Novo Nordisk?

https://finance.yahoo.com/m/91c3dd9a-6495-3fe9-bf9e-25b45b3cc611/better-long-term-buy-abbvie.html

91c3dd9a-6495-3fe9-bf9e-25b45b3cc611

ABBV

20 GRANT RECIPIENTS ARE SELECTED FROM MORE THAN 6,500 APPLICATIONS TO RECEIVE FUNDING, YEAR-LONG MENTORSHIP, AND COACHINGIRVINE, Calif., June 13, 2023 /PRNewswire/ -- Allergan Aesthetics, an AbbVie company (NYSE: ABBV) today announced the 20 incredible women entrepreneurs who will receive funding and mentorship through the BOTOX® Cosmetic and IFundWomen grant program. More than 6,500 women submitted applications and each one was carefully reviewed by a panel to select the winners. While the number of women-owned businesses in the country continues to grow, and is now estimated at 42 percent of all businesses in the U.S.,1 there is more work to be done, particularly in helping ideas translate into business opportunities addressing the "Confidence Gap."From over 6,500 applications, 20 women-owned businesses were selected to each receive a $25,000 grant and year-long coaching and mentorship."There were so many remarkable applications that featured thoughtful business solutions," said Carrie Strom, President, Global Allergan Aesthetics and Senior Vice President, AbbVie. "BOTOX® Cosmetic was born out of the entrepreneurial spirit and its more than 20-year history2 is rooted in people seeing a challenge and finding an answer. Each of the women selected to receive a grant saw a need for change, and set out to make a positive difference in the world. We are thrilled to celebrate them and support their businesses."In the coming months, the grant recipients will engage in a 10-week Crowdfunding Accelerator Program and learn from experts in various fields. The intensive coaching program curriculum will include important business topics such as network mapping, content marketing, social media, public relations, and crowdfunding for their business, helping them to further refine and optimize their strategies. In addition to the IFundWomen coaches, leaders from BOTOX® Cosmetic will be joining the coaching staff for the Accelerator Program, which is a first for IFundWomen's partnerships. Quality mentorship plays a pivotal role in an entrepreneur's success and the growth of their business.3Story continues"As a woman entrepreneur myself, I know how hard it can be to overcome the 'Confidence Gap.' Every day we find ourselves questioning if we have what it takes, and sometimes all we need to find that resounding 'yes' is a little bit of affirmation from the outside world," said Michelle Henry, MD, FAAD, Board-Certified Dermatologist, Mohs Surgeon and Founder of Skin & Aesthetic Surgery of Manhattan. "I am honored to be a part of the advisory group alongside my peers to help provide these women with that affirmation. Each one of these women and their businesses are doing important work and are so deserving of these grants."In addition to Dr. Henry, the entrepreneur healthcare professionals who aided in the grant recipient selection included Camille G. Cash, MD, Board-Certified Plastic Surgeon and Founder of Camille G. Cash, MD Aesthetic Plastic Surgery; Shawna Chrisman, Nurse Practitioner and Founder of Destination Aesthetics™; Terrence Keaney, MD, FAAD, Board-Certified Dermatologist and Founder of SkinDC; Caroline Robinson, MD, FAAD, Board-Certified Dermatologist and Founder of Tone Dermatology; Sherly Soleiman, MD, Board-Certified Physician and Founder and Medical Director of Cosmetic Injectables Center; and Yvette Suarez, MD, FAAMM, Board-Certified Physician and Founder and Owner of Bella Excellence."The funding and mentorship that I am receiving through this program for my business are truly transformative and will help ensure our continued success," said Maria Palacio, Co-Founder of Progeny Coffee. "I look forward to building lifelong connections with the other entrepreneurs participating in this program, as well as the amazing individuals I am meeting at BOTOX® Cosmetic and IFundWomen. Receiving this grant further reinforces for me that I've got something special here and it's an honor to be recognized. When people come together, we all rise together."The grant winners and their businesses are:Adorn Me Africa – Elorm Dela-Seshie (Boston, Mass.) – @adornmeafricaAssociation of Military Spouse Entrepreneurs – Monika Jefferson (Hampton, Va.) – @amseagencyBlackTravelBox® – Orion Brown (Denver, Colo.) – @blacktravelboxBri's Dance Place – Brianna Hairlson (Gary, Ind.) – @brisdanceplaceEverviolet – Keira Kotler (San Anselmo, Calif.) – @evervioletFourplay Social – Danielle Dietzek and Julie Griggs (New York, N.Y.) – @fourplaydatingGrounded – Danuelle Doswell and Mignon Hemsley (Washington, D.C.) – @groun.dedInFlow Entertainment – Lisa Crnic (Los Angeles, Calif.) – @inflow_entertainmentKola Goodies – Sajani Amarasiri (San Francisco, Calif.) – @kolagoodiesLove Cork Screw – Chrishon Lampley (Chicago, Ill.) – @lovecorkscrewMakhers Studio – Wanona Satcher (Atlanta, Ga.) – @makhersstudioMoney News Network – Nicole Lapin (Los Angeles, Calif.) – @moneynewsNo Limbits – Erica Cole (Richmond, Va.) – @no.limbitsNomads Swimwear – Taylor Long (Atlanta, Ga.) – @nomadsswimwearPostal Petals – Talia Boone (Los Angeles, Calif.) – @postalpetalsProgeny Coffee – Maria Palacio (Palo Alto, Calif.) – @progeny_coffeeSouthern Roots Vegan Bakery – Cara Pitts (Converse, Texas) – @southernrootsbizSWAIR – Carrie Sporer and Meredith Krill (New York, N.Y.) – @swairhairThe Coven – Alex Steinman and Erinn Farrell (Minneapolis, Minn.) – @thecoven.coTJL Collection – Tiffany Jones Lewis (Arlington, Texas) – @tjl_collectionVisit BotoxCosmetic.com/RealImpact to learn more about this partnership and the grant recipients. Follow along on the @botoxcosmetic Instagram and YouTube channels where each of the 20 founders and their businesses will be spotlighted throughout the year.BOTOX® COSMETIC IMPORTANT SAFETY INFORMATIONBOTOX® Cosmetic may cause serious side effects that can be life threatening. Get medical help right away if you have any of these problems any time (hours to weeks) after injection of BOTOX® Cosmetic:Problems swallowing, speaking, or breathing, due to weakening of associated muscles, can be severe and result in loss of life. You are at the highest risk if these problems are pre-existing before injection. Swallowing problems may last for several months.Spread of toxin effects. The effect of botulinum toxin may affect areas away from the injection site and cause serious symptoms including: loss of strength and all-over muscle weakness, double vision, blurred vision and drooping eyelids, hoarseness or change or loss of voice, trouble saying words clearly, loss of bladder control, trouble breathing, and trouble swallowing.BOTOX® Cosmetic dosing units are not the same as, or comparable to, any other botulinum toxin product.There has not been a confirmed serious case of spread of toxin effect when BOTOX® Cosmetic has been used at the recommended dose to treat frown lines, crow's feet lines, and/or forehead lines.BOTOX® Cosmetic may cause loss of strength or general muscle weakness, vision problems, or dizziness within hours to weeks of taking BOTOX® Cosmetic. If this happens, do not drive a car, operate machinery, or do other dangerous activities.Serious and/or immediate allergic reactions have been reported. They include: itching, rash, red itchy welts, wheezing, asthma symptoms, or dizziness or feeling faint. Get medical help right away if you are wheezing or have asthma symptoms, or if you become dizzy or faint.Do not receive BOTOX® Cosmetic if you: are allergic to any of the ingredients in BOTOX® Cosmetic (see Medication Guide for ingredients); had an allergic reaction to any other botulinum toxin product such as Myobloc® (rimabotulinumtoxinB), Dysport® (abobotulinumtoxinA), or Xeomin® (incobotulinumtoxinA); have a skin infection at the planned injection site.Tell your doctor about all your muscle or nerve conditions, such as ALS or Lou Gehrig's disease, myasthenia gravis, or Lambert-Eaton syndrome, as you may be at increased risk of serious side effects including difficulty swallowing and difficulty breathing from typical doses of BOTOX® Cosmetic.Tell your doctor about all your medical conditions, including: plans to have surgery; had surgery on your face; have trouble raising your eyebrows; drooping eyelids; any other abnormal facial change; are pregnant or plan to become pregnant (it is not known if BOTOX® Cosmetic can harm your unborn baby); are breast-feeding or plan to (it is not known if BOTOX® Cosmetic passes into breast milk).Tell your doctor about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements. Using BOTOX® Cosmetic with certain other medicines may cause serious side effects. Do not start any new medicines until you have told your doctor that you have received BOTOX® Cosmetic in the past.Tell your doctor if you have received any other botulinum toxin product in the last 4 months; have received injections of botulinum toxin such as Myobloc®, Dysport®, or Xeomin® in the past (tell your doctor exactly which product you received); have recently received an antibiotic by injection; take muscle relaxants; take an allergy or cold medicine; take a sleep medicine; take aspirin-like products or blood thinners.Other side effects of BOTOX® Cosmetic include: dry mouth; discomfort or pain at the injection site; tiredness; headache; neck pain; and eye problems: double vision, blurred vision, decreased eyesight, drooping eyelids and eyebrows, swelling of your eyelids and dry eyes.APPROVED USESBOTOX® Cosmetic is a prescription medicine that is injected into muscles and used to temporarily improve the look of moderate to severe forehead lines, crow's feet lines, and frown lines between the eyebrows in adults.For more information refer to the Medication Guide or talk with your doctor.To report a side effect, please call Allergan at 1-800-678-1605.Please see BOTOX® Cosmetic full Product Information including Boxed Warning and Medication Guide.About Allergan AestheticsAllergan Aesthetics, an AbbVie company, develops, manufactures, and markets a portfolio of leading aesthetics brands and products. Their aesthetics portfolio includes facial injectables, body contouring, plastics, skin care, and more. Their goal is to consistently provide customers worldwide with innovation, education, exceptional service, and a commitment to excellence, all with a personal touch.About AbbVieAbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, Instagram, YouTube and LinkedIn.About IFundWomenIFundWomen is the go-to funding marketplace for entrepreneurs, with a mission to close the money gap for women-owned businesses through its proprietary mix of capital, coaching, and connections. Since its founding, IFundWomen has empowered its members to raise $278M in early-stage capital and to create 55,000 new jobs, helping fuel the small businesses economy. IFundWomen's marketplace offers its members multiple access points to capital, including crowdfunding, enterprise-brokered grants, collateral-free loans, and the best funding of all – revenue, through its newest product, IFundWomen ServicesX, a marketplace connecting independent business services experts to customers. To learn more about IFundWomen, please visit www.ifundwomen.com. Follow @ifundwomen on LinkedIn, Instagram, Facebook, Twitter, and TikTok.ReferencesAmerican Express. The 2019 State of Women-Owned Business Report, 2019.Data on File. AbbVie. FDA Product Approval Information, 2019.Endeavor Insight. Women in Entrepreneurship: How Women-Led Companies Drive Economic Growth in the United States. August 2020.Meet the 20 grant recipients receiving funding and mentorship through the BOTOX® Cosmetic and IFundWomen partnership.BOTOX® Cosmetic (onabotulinumtoxinA) in Partnership With IFundWomenCisionView original content to download multimedia:https://www.prnewswire.com/news-releases/botox-cosmetic-onabotulinumtoxina-announces-the-winners-of-the-ifundwomen-grant-program-301849039.htmlSOURCE AbbVie

PR Newswire

BOTOX® Cosmetic (onabotulinumtoxinA) Announces the Winners of the IFundWomen Grant Program

https://finance.yahoo.com/news/botox-cosmetic-onabotulinumtoxina-announces-winners-124500653.html

1fe93b52-9c88-331f-bde6-c08a2e80c9bc

ABBV

Ironwood IRWD announced that the FDA has approved Linzess (linaclotide) as a once-daily treatment for functional constipation in pediatric patients aged 6-17 years. This approval for the new indication marks a milestone for IRWD as Linzess becomes the first and only FDA-approved prescription therapy for functional constipation in pediatric patients.The drug was launched in 2012 for patients suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC). With a strong market demand, Linzess is a leading brand in treating gastrointestinal diseases in the United States. More than 4.5 million adult patients with IBS-C and CIC have been treated with the drug since its launch.In December 2022, partner AbbVie ABBV filed a regulatory application with the FDA, seeking expanded use of Linzess to treat functional constipation in pediatric patients.Shares of Ironwood nosedived 7.8% year to date compared with the industry’s 2.5% decline.Zacks Investment ResearchImage Source: Zacks Investment ResearchFunctional constipation in children is a chronic condition, characterized by infrequent and hard bowel movements that are often painful. It is estimated that approximately 6 million children, aged 6-17 years, in the United States are affected by this health condition.The FDA approval for the use of Linzess in pediatric population was based on data from a large double-blind phase III study that evaluated the drug’s effectiveness in patients with functional constipation. The study involved 328 patients who were randomized to receive either Linzess 72 mcg or a placebo.The results showed that linaclotide demonstrated a statistically significant and clinically meaningful improvement compared to placebo. The linaclotide-treated patients experienced more than a two-fold increase in spontaneous bowel movements per week compared to the other group.Ironwood co-develops and co-commercializes Linzess with partner AbbVie. Linzess is marketed by AbbVie in Europe and Canada under the brand name, Constella. Ironwood receives royalties on sales of Constella in these two regions.Story continuesIronwood has partnered with AstraZeneca for the development and commercialization of Linzess in China. It has also joined forces with AbbVie for the global development and commercialization of linaclotide.In the first quarter of 2023, Ironwood’s share of net profits from the sales of Linzess in the United States was $101.6 million, up 8% year over year. This can be attributed to an acceleration in new prescription volume. The new prescription demand increased 10% from that recorded in the year-ago period.Ironwood Pharmaceuticals, Inc. Price and ConsensusIronwood Pharmaceuticals, Inc. Price and ConsensusIronwood Pharmaceuticals, Inc. price-consensus-chart | Ironwood Pharmaceuticals, Inc. QuoteZacks Rank and Stocks to ConsiderIronwood currently carries a Zacks Rank #3 (Hold).A couple of better-ranked stocks in the biotech sector are Akero Therapeutics AKRO and ADMA Biologics, Inc. ADMA, both carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Loss per share estimate for Akero Therapeutics has narrowed from $3.46 to $2.80 for 2023 in the past 90 days. Shares of Akero Therapeutics have risen 1% year to date.AKRO’s earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 7.96%.Loss per share estimate for ADMA Biologics has narrowed from 19 cents to 9 cents for 2023 in the past 90 days. Shares of ADMA Biologics have nosedived 1.5% year to date.ADMA’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.13%.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportIronwood Pharmaceuticals, Inc. (IRWD) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportADMA Biologics Inc (ADMA) : Free Stock Analysis ReportAkero Therapeutics, Inc. (AKRO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Ironwood (IRWD), AbbVie Get FDA Nod for Linzess Label Expansion

https://finance.yahoo.com/news/ironwood-irwd-abbvie-fda-nod-131800887.html

e71d85c2-10ca-341d-b0ab-6c1d42d4b129

ABBV

Shares of Mustang Bio MBIO were up 9.2% on Jun 12 after management announced updated results from a cohort of an ongoing single-institution phase I/II study evaluating its lead clinical candidate MB-106 in patients with Waldenstrom macroglobulinemia (“WM”), a rare form of blood cancer.Data from the study showed that treatment with MB-106 exhibited a favorable safety and efficacy profile in WM patients, all (n=6) of whom were previously treated with Bruton's tyrosine kinase (“BTK”) inhibitors and their disease continued to progress while on BTK inhibitors.Per management, participants treated with MB-106 achieved an overall response rate (“ORR”) of 83%, including two complete responses (“CR”). One of the patients who achieved CR remains in remission at 22 months. Also, none of the patients started treatment with an additional anti-WM treatment following MB-106 administration.Mustang Bio’s stock has risen 20.7% in the past year against the industry‘s 7.8% decline.Zacks Investment ResearchImage Source: Zacks Investment ResearchA CD20-targeted autologous CAR T cell therapy, MB-106, is being developed in the above-mentioned phase I/II study to treat patients with relapsed or refractory B-cell non-Hodgkin lymphomas (“B-NHLs”) and chronic lymphocytic leukemia (“CLL”). This study is being sponsored by Fred Hutchinson Cancer Center (“Fred Hutch”), Mustang’s research collaborator. MB-106 was licensed by Fred Hutch to Mustang in 2017.Currently, there are no FDA-approved CAR T treatments in WM indication. Mustang believes that MB-106 has the potential to address a significant unmet need. The FDA has granted orphan drug designation to MB-106 in WM indication based on data from a company-sponsored phase I/II multicenter study evaluating MB-106 in patients with relapsed or refractory B-Cell NHL or CLL.A popular drug approved in WM indication is Imbruvica, which is jointly marketed by pharma giants J&J JNJ and AbbVie ABBV. The AbbVie-J&J partnered drug was the first FDA-approved therapy in WM indication. A BTK inhibitor, AbbVie/J&J’s Imbruvica is also approved by the FDA in CLL and small lymphocytic lymphoma (“SLL”) indications.Story continuesABBV and J&J co-exclusively market Imbruvica in the United States. However, J&J has an exclusive license to market the drug outside the United States and shares profits from the drug’s ex-U.S. sales with AbbVie.Mustang Bio, Inc. Price Mustang Bio, Inc. PriceMustang Bio, Inc. price | Mustang Bio, Inc. Quote Zacks Rank & Stocks to ConsiderMustang Bio currently carries a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Another better-ranked stock in the overall healthcare sector is Novartis NVS, which carries the same rank as that of MBIO.In the past 60 days, estimates for Novartis’ 2023 and 2024 earnings per share have increased from $6.57 to $6.72 and $7.08 to $7.26, respectively. Shares of Novartis are up 10.2% in the year-to-date period.Earnings of Novartis beat estimates in each of the last four quarters, witnessing an average earnings surprise of 5.15%. In the last reported quarter, Novartis’ earnings beat estimates by 10.32%.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportNovartis AG (NVS) : Free Stock Analysis ReportJohnson & Johnson (JNJ) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportMustang Bio, Inc. (MBIO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Mustang (MBIO) Up 9% on Rare Blood Cancer Study's Upbeat Data

https://finance.yahoo.com/news/mustang-mbio-9-rare-blood-174900147.html

09baf9d9-cef9-366b-9b55-c193c80382f8

ABBV

Key InsightsSignificantly high institutional ownership implies AbbVie's stock price is sensitive to their trading actionsA total of 25 investors have a majority stake in the company with 46% ownership Insiders have been selling lately Every investor in AbbVie Inc. (NYSE:ABBV) should be aware of the most powerful shareholder groups. With 71% stake, institutions possess the maximum shares in the company. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn).Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. Therefore, a good portion of institutional money invested in the company is usually a huge vote of confidence on its future.In the chart below, we zoom in on the different ownership groups of AbbVie. See our latest analysis for AbbVie ownership-breakdownWhat Does The Institutional Ownership Tell Us About AbbVie?Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.We can see that AbbVie does have institutional investors; and they hold a good portion of the company's stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see AbbVie's historic earnings and revenue below, but keep in mind there's always more to the story.earnings-and-revenue-growthInstitutional investors own over 50% of the company, so together than can probably strongly influence board decisions. Hedge funds don't have many shares in AbbVie. Our data shows that The Vanguard Group, Inc. is the largest shareholder with 9.1% of shares outstanding. BlackRock, Inc. is the second largest shareholder owning 7.9% of common stock, and Capital Research and Management Company holds about 4.5% of the company stock.Story continuesOn studying our ownership data, we found that 25 of the top shareholders collectively own less than 50% of the share register, implying that no single individual has a majority interest.While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.Insider Ownership Of AbbVieThe definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.Our information suggests that AbbVie Inc. insiders own under 1% of the company. As it is a large company, we'd only expect insiders to own a small percentage of it. But it's worth noting that they own US$262m worth of shares. Arguably recent buying and selling is just as important to consider. You can click here to see if insiders have been buying or selling. General Public OwnershipWith a 29% ownership, the general public, mostly comprising of individual investors, have some degree of sway over AbbVie. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.Next Steps:It's always worth thinking about the different groups who own shares in a company. But to understand AbbVie better, we need to consider many other factors. Case in point: We've spotted 5 warning signs for AbbVie you should be aware of.If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.Join A Paid User Research SessionYou’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here

Simply Wall St.

AbbVie Inc. (NYSE:ABBV) is favoured by institutional owners who hold 71% of the company

https://finance.yahoo.com/news/abbvie-inc-nyse-abbv-favoured-120018466.html

6bed52c7-a2a8-3b61-973c-207bd41483d6

ABBV

AbbVie Inc (NYSE: ABBV) has challenged Coherus BioSciences Inc (NASDAQ: CHRS), alleging Coherus breached its settlement and license agreement after it announced its plans to launch Yusimry, a biosimilar of blockbuster drug Humira (adalimumab), for rheumatoid arthritis.The company plans to launch Yusimry in July 2023 with a list price of $995 per carton (2 x 40 mg/0.8 mL autoinjectors), the lowest price announced to date of any adalimumab offering in the U.S.With Humira currently priced at $6,922 per carton of two autoinjectors, the Yusimry price will represent an 85% discount from the originator.Also, Mark Cuban Cost Plus Drug Company plans to offer the drug to its customers at $569.27 plus dispensing and shipping fees starting in July 2023.In reaction, Coherus has sent a written response denying the allegation and requesting that AbbVie provide more information.Coherus BioSciences has filed a motion for a temporary restraining order against the pharma giant in the Delaware Court of Chancery on June 13, the company said in its SEC filing, adding that AbbVie also filed a preliminary injunction.However, after negotiations, on June 14, AbbVie agreed it would not attempt to end the agreement between the companies under certain conditions.Price Action: ABBV shares are down 0.37% at $135.72, and CHRS shares are down 5.13% at $5.09 on the last check Thursday.Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.This article AbbVie vs Coherus: Dispute Emerges over Upcoming Launch of Low-Cost Biosimilar, Yusimry originally appeared on Benzinga.com.© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Benzinga

AbbVie vs Coherus: Dispute Emerges over Upcoming Launch of Low-Cost Biosimilar, Yusimry

https://finance.yahoo.com/news/abbvie-vs-coherus-dispute-emerges-172424297.html

68d601a9-6d0c-329e-8522-6dc6dcf91903

ABBV

AbbVie Inc (NYSE: ABBV) announced top-line results from the COMMAND Phase 3 maintenance study, showing risankizumab (Skyrizi) achieved the primary endpoint of clinical remission at week 52, as well as key secondary endpoints in moderately to severely active ulcerative colitis.A significantly higher proportion of patients who received risankizumab 180 mg or 360 mg achieved clinical remission at week 52: 40% and 38%, respectively, compared to 25% in the induction-only control group.51% of patients treated with risankizumab 180 mg and 48% treated with risankizumab 360 mg achieved endoscopic improvement at week 52 vs. 32% of patients in the induction-only control group.Additionally, significantly more patients treated with risankizumab 180 mg and 360 mg achieved histologic endoscopic mucosal improvement at week 52 compared to those treated with induction only: 43% and 42%, respectively, vs. 23%.A significantly higher proportion of patients who received risankizumab 180 mg or 360 mg achieved steroid-free clinical remission compared to the induction-only control group at week 52 (40% and 37%, respectively, vs. 25%).Price Action: ABBV shares are down 0.32% at $135.80 on the last check Thursday.Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.This article AbbVie Touts Promising Results For Risankizumab For Ulcerative Colitis Maintenance originally appeared on Benzinga.com.© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Benzinga

AbbVie Touts Promising Results For Risankizumab For Ulcerative Colitis Maintenance

https://finance.yahoo.com/news/abbvie-touts-promising-results-risankizumab-173916228.html

9c0f3744-454c-3a01-8612-34000df5773a

ABBV

AbbVie, Inc. ABBV announced top-line data from the phase III maintenance study, COMMAND, which evaluated its IL-23 drug Skyrizi (risankizumab) in adult patients with moderately to severely active ulcerative colitis (“UC”) indication.Data from the COMMAND study showed that a significantly higher proportion of patients treated with Skyrizi (180mg or 360mg, administered subcutaneously) achieved the primary endpoint of clinical remission at week 52.40% and 38% of study participants who received the 180mg and 360mg dose of the drug, respectively, achieved clinical remission, compared to 25% of patients enrolled in the control group.Study participants who were administered Skyrizi also achieved endoscopic improvement, histologic-endoscopic mucosal improvement and steroid-free remission following 52 weeks of treatment, which were also the study’s key secondary endpoints. The drug’s safety profile was consistent with the data from prior studies in other indications.Currently, Skyrizi is approved by the FDA for three indications, which are plaque psoriasis, psoriatic arthritis (PsA) and Crohn’s disease (“CD”).Shares of AbbVie have declined 15.9% so far this year against the industry’s 0.6% rise.Zacks Investment ResearchImage Source: Zacks Investment ResearchThe COMMAND study enrolled only those patients who had responded to induction treatment with the drug in the phase III INSPIRE study. In March, AbbVie reported top-line data from the INSPIRE study, wherein treatment with an intravenous 1200mg dose of Skyrizi achieved the primary endpoint of clinical remission at week 12.The targeted UC market is highly competitive. AbbVie faces stiff competition from Johnson & Johnson JNJ, which markets its own drug Stelara which utilizes a similar mechanism of action to treat the CD indication.A blockbuster drug, J&J’s Stelara is a human IL-12 and IL-23 antagonist approved by the FDA for treating moderately to severely active UC. The drug is also approved for other indications, including psoriasis, CD and PsA. Evidently, Stelara is one of J&J’s top-line drivers. During first-quarter 2023, J&J recorded revenues worth $2.4 billion from Stelara sales.Story continuesLast month, the FDA approved AbbVie’s blockbuster JAK inhibitor Rinvoq for the treatment of adults with moderately to severely active CD who have had an inadequate response or intolerance to one or more tumor necrosis factor blockers. The approval marks the seventh FDA-approved indication for Rinvoq across rheumatology, dermatology and gastroenterology. Apart from CD, Rinvoq is also approved for rheumatoid arthritis, PsA, UC, ankylosing spondylitis and eczema indications.AbbVie is focused on strengthening its focus on new immunology medicines, Skyrizi and Rinvoq, to lessen its dependence on Humira, a major top-line driver for AbbVie, which recently lost exclusivity in the United States. Both Skyrizi and Rinvoq demonstrated differentiated clinical profiles, compared to Humira.Over the years, AbbVie’s Humira sales have been steadily declining due to biosimilars eroding the ex-U.S. sales of the drug. Humira’s international sales are already eroding due to the launch of several direct biosimilar drugs in Europe by other pharma companies, including Amgen AMGN, Novartis’ NVS Sandoz division and Biogen. Companies like Amgen, Novartis and Biogen were the first to start commercializing a Humira-biosimilar in Europe in 2018.In January, Amgen announced the launch of the first Humira biosimilar in the United States. The biosimilar is being marketed by Amgen under the trade name Amjevita. Like Amgen, several other companies like Biogen, Boehringer Ingelheim and Pfizer have also received FDA approvals for their own Humira biosimilars, many of which are expected to be launched at various times this year per agreements with AbbVie. In March 2023, Novartis (through its Sandoz division) announced that the FDA had approved its Humira biosimilar, which will be marketed under the trade name Hyrimoz. The Novartis division intends to market the drug in the United States from July 1, 2023.With many new indications coming in the next couple of years, AbbVie expects sales of Skyrizi and Rinvoq to be higher and potentially replace Humira. Skyrizi and Rinvoq are expected to collectively exceed the peak revenues achieved by Humira by 2027. Management expects the combined sales (risk-adjusted) of Skyrizi and Rinvoq to be more than $17.5 billion in 2025 and more than $21 billion by 2027.AbbVie Inc. PriceAbbVie Inc. PriceAbbVie Inc. price | AbbVie Inc. QuoteZacks RankAbbVie currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportNovartis AG (NVS) : Free Stock Analysis ReportJohnson & Johnson (JNJ) : Free Stock Analysis ReportAmgen Inc. (AMGN) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

AbbVie's (ABBV) Skyrizi Meets Ulcerative Colitis Study Goals

https://finance.yahoo.com/news/abbvies-abbv-skyrizi-meets-ulcerative-114500160.html

ed82bbae-818c-39a3-8ad5-3088f0e4eddf

ABBV

Assuming it does, it's not going to be stealing a fry from the corner of AbbVie's plate -- it's going for a big-mouth chomp of the cheeseburger with all the fixings. AbbVie shareholders are doubtless bracing themselves. Coherus develops new oncology drugs with a combination of in-licensing candidates and its own research and development (R&D) activities, but it also currently sells biosimilar drugs that are copies of medicines developed by other companies.Continue reading

Motley Fool

This Biotech Is About to Eat AbbVie's Market Share, but Is It a Buy?

https://finance.yahoo.com/m/579f53c5-6a14-3617-bf67-f23d716bfebf/this-biotech-is-about-to-eat.html

579f53c5-6a14-3617-bf67-f23d716bfebf

ABBV

Eli Lilly LLY announced that the phase IV CHALLENGE-MIG study, evaluating the efficacy and safety of its migraine drug Emgality against Pfizer‘s PFE Nurtec ODT, failed to meet primary endpoint of statistical superiority in achieving at least 50% reduction in monthly migraine headache days.Emgality performed numerically better than Pfizer’s Nurtec ODT on key secondary endpoints of the CHALLENGE-MIG study.Per management, the response rates were similar following treatment with both drugs.Lilly stated that the treatment with Emgality exhibited clinically meaningful efficacy and safety during the treatment tenure, which was consistent with studies previously conducted on the drug.Shares of Eli Lilly have increased 22.4% so far this year compared with the industry’s 2.0% rise.Zacks Investment ResearchImage Source: Zacks Investment ResearchThe CHALLENGE-MIG study is a post-approval study that evaluated Emgality against Nurtec ODT in the prevention of episodic migraine in 580 adults over a three-month period. The study randomized patients to receive either four injections of 120mg Emgality or 45 oral tablets of Nurtec ODT during the treatment period.Emgality was approved by the FDA in 2018 for the preventive treatment of migraine in adults. Lilly received label expansion approval for the drug to treat episodic cluster headache in adults in 2019.Pfizer’s Nurtec ODT is approved for acute treatment of migraine with or without aura in adults and preventive treatment of episodic migraine. The drug was recently acquired by Pfizer following the completion of Biohaven’s CGRP business last year.Another competitor in this segment is AbbVie ABBV that markets its own oral CGRP antagonist Qulipta approved for treating migraine. In April, AbbVie announced that the FDA approved the label expansion for Qulipta to include the prevention of chronic migraine in adults. AbbVie’s Qulipta was initially approved by the agency in 2021 for the preventive treatment of episodic migraine in adults.Story continuesEli Lilly and Company Price Eli Lilly and Company PriceEli Lilly and Company price | Eli Lilly and Company Quote Zacks Rank & Stocks to ConsiderEli Lilly currently carries a Zacks Rank #3 (Hold).A better-ranked stock in the overall healthcare sector is Novartis NVS, which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past 60 days, estimates for Novartis’ 2023 and 2024 earnings per share have increased from $6.58 to $6.72 and $7.08 to $7.26, respectively. Shares of Novartis are up 19.2% in the year-to-date period.Earnings of Novartis beat estimates in each of the last four quarters, witnessing an average earnings surprise of 5.15%. In the last reported quarter, Novartis’earnings beat estimates by 10.32%.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportNovartis AG (NVS) : Free Stock Analysis ReportPfizer Inc. (PFE) : Free Stock Analysis ReportEli Lilly and Company (LLY) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Lilly's (LLY) Migraine Drug Fails Vis-a-Vis Pfizer's Nurtec ODT

https://finance.yahoo.com/news/lillys-lly-migraine-drug-fails-150100080.html

ab4e3a8f-633c-3ceb-9ac4-6eb9ef70df78

ABBV

Tuesday, June 20, 2023The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including PepsiCo, Inc. (PEP), AbbVie Inc. (ABBV) and Honeywell International Inc. (HON). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.You can see all of today’s research reports here >>>PepsiCo shares have gained +3.4% over the past six months against the Zacks Beverages - Soft drinks industry’s gain of +7.4%. The company’s results reflect gains from strength and resilience in its diversified portfolio, modernized supply chain, improved digital capabilities, flexible go-to-market distribution systems and robust consumer demand trends.It also gained from the resilience and strength in the global beverage and convenient food businesses. However, PepsiCo witnessed margin pressures in the first quarter driven by impacts of supply-chain disruptions and inflationary labor, transportation and commodity costs. Adverse currency rates also remain headwinds.(You can read the full research report on PepsiCo here >>>)Shares of AbbVie have gained +0.4% over the past year against the Zacks Large Cap Pharmaceuticals industry’s gain of +17.5%. The company has several new drugs in its portfolio that have the potential to drive the top line to make up for lost Humira revenues.Skyrizi and Rinvoq have established outstanding launch trajectories bolstered by the approval in new indications. It has several early/mid-stage candidates that have blockbuster potential. However, there are concerns about long-term sales growth since Humira generics have entered the U.S. market.Increasing competition from newer therapies is hurting Imbruvica’s sales. Slowing consumer demand due to economic pressure is hurting the aesthetics franchise’s sales. Nonetheless, though revenues are expected to decline in 2023, AbbVie expects to return to robust sales growth in 2025.(You can read the full research report on AbbVie here >>>)Honeywell shares have outperformed the Zacks Diversified Operations industry over the past year (+14.8% vs. +12.4%). The company is benefitting from the recovery in commercial flight hours, strength in advanced materials and UOP businesses augur well for Honeywell’s growth. Solid operational execution, pricing actions and cost-control measures continue to drive the company’s top line.The company’s bullish forecast for 2023 holds promise. Efforts to handsomely reward shareholders with dividends and share buybacks hold promise. HON’s deal to acquire Compressor Controls raises optimism in the stock.However, supply-chain disruptions remain a concern for the company. Weakness in the Safety and Productivity Solutions unit due to lower warehouse, and workflow and productivity solutions volumes is worrisome. Raw material cost inflation and adverse foreign currency movements are other headwinds.(You can read the full research report on Honeywell here >>>)Other noteworthy reports we are featuring today include Salesforce, Inc. (CRM), The Goldman Sachs Group, Inc. (GS) and CVS Health Corporation (CVS).Director of ResearchSheraz MianNote: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>Story continuesToday's Must ReadPepsiCo's (PEP) Business Investments to Bolster PerformanceAbbVie's (ABBV) New Drugs to Make Up for Lost Humira SalesAerospace Unit Aids Honeywell (HON) Amid Supply Chain WoesFeatured ReportsSalesforce (CRM) Rides on Partnership Wins & AcquisitionsPer the Zacks analyst, Salesforce's expanding partner ecosystem is contributing to business wins and boosting its presence globally. Also, strategic buyouts like Slack and Tableau are positive.Organic Growth Aids Goldman Sachs (GS), Cost Woes PrevailPer Zacks analyst, business diversification along with sound capital position are likely to aid Goldman Sachs' (GS) growth. However, rising costs and legal hassles remain as headwinds.CVS Health (CVS) Pharmacy Arm, Digital Capabilities ExpandThe Zacks analyst is upbeat about CVS Health's robust growth in pharmacy benefit and retail arms. The company's digital health services like testing and omni channel are expanding.Norfolk Southern's (NSC) Dividends Support, Fuel Costs HurtThe Zacks analyst welcomes Norfolk Southern's efforts to add shareholder value. However, high operating expenses, mainly due to escalated fuel costs, are worrisome.Suncor (SU) to Benefit from Syncrude and Fort Hills Projects Zacks analyst thinks strong Syncrude & Fort Hills projects drive future volumes & cash flows, but pipeline construction struggles in Canada hinder oil prices, forcing them to sell at discounted ratesDigital Transformation Driving Demand For CDW's ProductsPer the Zacks analyst, CDW Corporation's product and solutions portfolio is gaining from ongoing digital transformation. High debt load and stiff competition remain concerns.Rising Visitors Aid Hawaiian Electric (HE), COVID Issues HitPer the Zacks analyst, rising visitor arrivals in Hawaii driven by recovering economy have been boosting Hawaiian Electric. Yet COVID-19 induced supply chain disruption might hurt the stockNew UpgradesMartin Marietta (MLM) Benefits From Solid Pricing ActionsPer the Zacks analyst, solid pricing actions and near-term product demand backed by healthy customer backlogs across its coast-to-coast footprint are benefitting Martin Marietta.Host Hotels (HST) to Ride on Lodging Industry RecoveryPer the Zacks analyst, Host Hotels is poised to benefit from rebound in the lodging industry driven by continued strength in leisure demand and improving business transient and group demand.Solid Demand, New Products to Aid Lincoln Electric (LECO)Per the Zacks analyst, continued acceleration in Lincoln Electric's end markets as well as its ongoing investments in developing innovative new products and acquisitions will drive growthNew DowngradesRepligen (RGEN) Faces Declining Demand For COVID-19 ProductsPer the Zacks Analyst, Repligen's revenues is being negatively impacted by the declining demand for COVID-19 products. Competition in the bioprocessing market is also a concern.Inflation & Adverse Product Mix Hurt Dollar Tree (DLTR)Per the Zacks analyst, Dollar Tree has been witnessing adverse product mix due to demand shift toward low-margin consumable goods. Inflation is likely to ail margins and bottom line in the near term.Lincoln National (LNC) Weak on High Costs, Poor Life BusinessPer the Zacks analyst, a high benefits expense level can dampen the company's margins. Lower fee income and struggling Life business are a concern for Lincoln National.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportThe Goldman Sachs Group, Inc. (GS) : Free Stock Analysis ReportSalesforce Inc. (CRM) : Free Stock Analysis ReportHoneywell International Inc. (HON) : Free Stock Analysis ReportPepsiCo, Inc. (PEP) : Free Stock Analysis ReportCVS Health Corporation (CVS) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Top Analyst Reports for PepsiCo, AbbVie & Honeywell

https://finance.yahoo.com/news/top-analyst-reports-pepsico-abbvie-162100671.html

e9d9b60e-9416-3e12-a677-3e7f908690d1

ABBV

In the latest trading session, AbbVie (ABBV) closed at $137.82, marking a -0.59% move from the previous day. This change lagged the S&P 500's 0.47% loss on the day. At the same time, the Dow lost 0.72%, and the tech-heavy Nasdaq lost 5.08%.Coming into today, shares of the drugmaker had lost 4.32% in the past month. In that same time, the Medical sector gained 0.37%, while the S&P 500 gained 5.36%.Investors will be hoping for strength from AbbVie as it approaches its next earnings release. On that day, AbbVie is projected to report earnings of $2.93 per share, which would represent a year-over-year decline of 13.06%. Our most recent consensus estimate is calling for quarterly revenue of $13.52 billion, down 7.27% from the year-ago period.ABBV's full-year Zacks Consensus Estimates are calling for earnings of $10.97 per share and revenue of $52.57 billion. These results would represent year-over-year changes of -20.33% and -9.45%, respectively.Investors might also notice recent changes to analyst estimates for AbbVie. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. AbbVie is holding a Zacks Rank of #3 (Hold) right now.Investors should also note AbbVie's current valuation metrics, including its Forward P/E ratio of 12.63. For comparison, its industry has an average Forward P/E of 15.15, which means AbbVie is trading at a discount to the group.Story continuesInvestors should also note that ABBV has a PEG ratio of 2.53 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.7 based on yesterday's closing prices.The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

AbbVie (ABBV) Dips More Than Broader Markets: What You Should Know

https://finance.yahoo.com/news/abbvie-abbv-dips-more-broader-214519222.html

8951b1b6-3771-334d-ab94-4d21e7ad0011

ABBV

For Immediate ReleaseChicago, IL – June 21, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: PepsiCo, Inc. PEP, AbbVie Inc. ABBV, Honeywell International Inc. HON, Salesforce, Inc. CRM and The Goldman Sachs Group, Inc. GS.Here are highlights from Tuesday’s Analyst Blog:Top Analyst Reports for PepsiCo, AbbVie and HoneywellThe Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including PepsiCo, Inc., AbbVie Inc. and Honeywell International Inc. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.You can see all of today’s research reports here >>>PepsiCo shares have gained +3.4% over the past six months against the Zacks Beverages - Soft drinks industry’s gain of +7.4%. The company’s results reflect gains from strength and resilience in its diversified portfolio, modernized supply chain, improved digital capabilities, flexible go-to-market distribution systems and robust consumer demand trends.It also gained from the resilience and strength in the global beverage and convenient food businesses. However, PepsiCo witnessed margin pressures in the first quarter driven by impacts of supply-chain disruptions and inflationary labor, transportation and commodity costs. Adverse currency rates also remain headwinds.(You can read the full research report on PepsiCo here >>>)Shares of AbbVie have gained +0.4% over the past year against the Zacks Large Cap Pharmaceuticals industry’s gain of +17.5%. The company has several new drugs in its portfolio that have the potential to drive the top line to make up for lost Humira revenues.Skyrizi and Rinvoq have established outstanding launch trajectories bolstered by the approval in new indications. It has several early/mid-stage candidates that have blockbuster potential. However, there are concerns about long-term sales growth since Humira generics have entered the U.S. market.Increasing competition from newer therapies is hurting Imbruvica’s sales. Slowing consumer demand due to economic pressure is hurting the aesthetics franchise’s sales. Nonetheless, though revenues are expected to decline in 2023, AbbVie expects to return to robust sales growth in 2025.(You can read the full research report on AbbVie here >>>)Honeywell shares have outperformed the Zacks Diversified Operations industry over the past year (+14.8% vs. +12.4%). The company is benefitting from the recovery in commercial flight hours, strength in advanced materials and UOP businesses augur well for Honeywell’s growth. Solid operational execution, pricing actions and cost-control measures continue to drive the company’s top line.The company’s bullish forecast for 2023 holds promise. Efforts to handsomely reward shareholders with dividends and share buybacks hold promise. HON’s deal to acquire Compressor Controls raises optimism in the stock.However, supply-chain disruptions remain a concern for the company. Weakness in the Safety and Productivity Solutions unit due to lower warehouse, and workflow and productivity solutions volumes is worrisome. Raw material cost inflation and adverse foreign currency movements are other headwinds.(You can read the full research report on Honeywell here >>>)Other noteworthy reports we are featuring today include Salesforce, Inc. and The Goldman Sachs Group, Inc.Story continuesWhy Haven’t You Looked at Zacks' Top Stocks?Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.See Stocks Free >>Media ContactZacks Investment Research800-767-3771 ext. 9339support@zacks.comhttps://www.zacks.comPast performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportThe Goldman Sachs Group, Inc. (GS) : Free Stock Analysis ReportSalesforce Inc. (CRM) : Free Stock Analysis ReportHoneywell International Inc. (HON) : Free Stock Analysis ReportPepsiCo, Inc. (PEP) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

The Zacks Analyst Blog Highlights PepsiCo, AbbVie, Honeywell, Salesforce and Goldman Sachs

https://finance.yahoo.com/news/zacks-analyst-blog-highlights-pepsico-090000861.html

145608e3-f20f-326f-9c07-e6ea41237989

ABBV

AbbVie (ABBV) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this drugmaker have returned -3% over the past month versus the Zacks S&P 500 composite's +4.3% change. The Zacks Large Cap Pharmaceuticals industry, to which AbbVie belongs, has lost 0.5% over this period. Now the key question is: Where could the stock be headed in the near term?While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For the current quarter, AbbVie is expected to post earnings of $2.93 per share, indicating a change of -13.1% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.For the current fiscal year, the consensus earnings estimate of $10.97 points to a change of -20.3% from the prior year. Over the last 30 days, this estimate has remained unchanged.Story continuesFor the next fiscal year, the consensus earnings estimate of $11.04 indicates a change of +0.6% from what AbbVie is expected to report a year ago. Over the past month, the estimate has changed +0.1%.With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for AbbVie.The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:12 Month EPSRevenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.In the case of AbbVie, the consensus sales estimate of $13.52 billion for the current quarter points to a year-over-year change of -7.3%. The $52.57 billion and $53.08 billion estimates for the current and next fiscal years indicate changes of -9.5% and +1%, respectively.Last Reported Results and Surprise HistoryAbbVie reported revenues of $12.23 billion in the last reported quarter, representing a year-over-year change of -9.7%. EPS of $2.46 for the same period compares with $3.16 a year ago.Compared to the Zacks Consensus Estimate of $12.08 billion, the reported revenues represent a surprise of +1.17%. The EPS surprise was +0.82%.The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates just once over this period.ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.AbbVie is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about AbbVie. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Investors Heavily Search AbbVie Inc. (ABBV): Here is What You Need to Know

https://finance.yahoo.com/news/investors-heavily-search-abbvie-inc-130011215.html

0c2d49af-0bfc-3af1-a3e5-748d84809973

ABBV

NORTH CHICAGO, Ill., June 22, 2023 /PRNewswire/ -- The board of directors of AbbVie Inc. (NYSE: ABBV) today declared a quarterly cash dividend of $1.48 per share.The cash dividend is payable August 15, 2023, to stockholders of record at the close of business on July 14, 2023.Since the company's inception in 2013, AbbVie has increased its dividend by 270 percent. AbbVie is a member of the S&P Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.About AbbVieAbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology and gastroenterology, in addition to products and services across our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, Instagram, YouTube and LinkedIn.CisionView original content:https://www.prnewswire.com/news-releases/abbvie-declares-quarterly-dividend-301858393.htmlSOURCE AbbVie

PR Newswire

AbbVie Declares Quarterly Dividend

https://finance.yahoo.com/news/abbvie-declares-quarterly-dividend-171300448.html

b0cd05fc-efc4-3aaf-9d71-2c531f09452f

ABBV

If approved by the European Commission (EC), atogepant will be the first and only once daily oral calcitonin gene-related peptide (CGRP) receptor antagonist (gepant) in the European Union (EU) for the prophylaxis of migraine in adults who have four or more migraine days per monthThe positive CHMP opinion is based on results from two pivotal Phase 3 studies evaluating atogepant for the prophylaxis of migraine in adults with episodic or chronic migraine NORTH CHICAGO, Ill., June 23, 2023 /PRNewswire/ -- AbbVie (NYSE: ABBV) today announced that the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion recommending the approval of atogepant for the prophylaxis of migraine in adults who have four or more migraine days per month. If approved, AbbVie will be the only company to offer a once daily oral calcitonin gene-related peptide (CGRP) receptor antagonist (gepant) treatment spanning both episodic and chronic migraine in the European Union (EU).Chronic migraine (CM) is characterized by 15 or more headache days a month and at least eight migraine days, while episodic migraine (EM) refers to people with migraine who have less than 15 headache days per month.1 In Europe, migraine is estimated to cost the economy €50 billion annually due to reduced productivity and workdays lost.2"Migraine is a complex neurological disease and one of the leading causes of disability worldwide, which is why we continue to advance our science to provide effective treatment options for people living with this debilitating condition," said Dawn Carlson, vice president, neuroscience development, AbbVie. "The recent positive CHMP opinion of atogepant brings us closer to providing a new therapy option to those living with migraine in the European Union."The positive CHMP opinion for atogepant is supported by data from two pivotal Phase 3 studies, PROGRESS and ADVANCE, which evaluated 60 mg once daily (QD) atogepant in adult patients with chronic and episodic migraine, respectively. Both studies met their primary endpoint of a statistically significant reduction in mean monthly migraine days (MMDs), compared to placebo across the 12-week treatment period. Additionally, statistically significant improvements were seen in all secondary endpoints with atogepant 60 mg QD.3,4Story continuesIn the PROGRESS study, the changes from baseline in MMDs were −6.8 days for atogepant 60 mg QD and -5.1 days for placebo (p=0.0024).3 In the ADVANCE study, the changes from baseline in MMDs were −4.1 days for atogepant 60 mg QD and −2.5 days for placebo (p=<0.001).4 In both studies, atogepant 60 mg QD was well tolerated and the most common adverse events were constipation, nausea, and fatigue. The adverse drug reaction most commonly leading to study discontinuation was nausea (0.4%).3,4"Far too many people around the world are impacted by migraine, and the path to treatment can be long and complex," said Prof. Patricia Pozo-Rosich, MD, PhD, Head of Neurology Section, Vall d'Hebron Hospital and Institute of Research, Spain. "The approval of atogepant would represent a meaningful advancement for the migraine community in the European Union, providing adults with four or more migraine days per month a new prophylactic treatment option that offers the possibility of sustained migraine prevention."Migraine is highly prevalent, affecting 1 billion people worldwide5, including an estimated 41 million people in Europe.6 Individuals with migraine experience frequent disabling migraine attacks, preventing them from performing daily activities and significantly affecting their quality of life.7 This debilitating disease imposes both a social and financial burden for people living with migraine and healthcare systems.8About Atogepant Atogepant is an orally administered, CGRP receptor antagonist specifically developed for the preventive treatment of migraine in adults who have four or more migraine days per month. CGRP and its receptors are expressed in regions of the nervous system associated with migraine pathophysiology. Studies have shown that CGRP levels are elevated during migraine attacks and selective CGRP receptor antagonists confer clinical benefit in migraine.About the Phase 3 PROGRESS Clinical Trial3 The pivotal Phase 3 PROGRESS study evaluated the safety, tolerability, and efficacy of oral atogepant for the prophylaxis of chronic migraine compared with placebo. The study included 778 patients with a diagnosis of chronic migraine for at least one year, and greater or equal to 15 headache days with at least eight migraine days in the 28 days prior. Patients were randomized into one of three treatment groups receiving 60 mg QD of atogepant, 30 mg twice daily of atogepant, or placebo. The primary endpoint measured the reduction from baseline in MMDs compared to placebo for 60 mg QD across a 12-week treatment period (p=0.0024). The overall safety profile observed in the Phase 3 PROGRESS study was consistent with safety findings observed in previous studies. The most common adverse events reported with a frequency greater than or equal to 5% in the atogepant 60 mg QD arm were constipation (10.0% vs. 3.1% for placebo) and nausea (9.6% vs. 3.5% for placebo). Most of the events of constipation and nausea were mild or moderate in severity and did not lead to study discontinuation.Additional key secondary endpoints included change from baseline in mean monthly headache days (MHDs), change from baseline in mean monthly acute-medication use, proportion of participants with at least a 50% reduction in MMDs across the 12-week treatment period and change from baseline in Migraine-Specific Quality-of-Life Questionnaire Version 2.1 (MSQ v2.1) Role Function-Restrictive (RFR) domain score at week 12. MSQ v2.1 is designed to measure health-related quality of life impairments attributed to migraine.For a full listing of secondary endpoints across all regions, please go to www.clinicaltrials.gov (NCT03855137).About the Phase 3 ADVANCE Clinical Trial4 The pivotal Phase 3 ADVANCE study evaluated the efficacy, safety, and tolerability of oral atogepant for the prevention of migraine in those with 4 to 14 migraine days per month. A total of 910 patients were randomized to one of four treatment groups evaluating 10 mg, 30 mg, or 60 mg of atogepant QD, or placebo. The primary endpoint was change from baseline in MMDs compared to placebo for 60 mg QD across a 12-week treatment period (p<0.001). The study demonstrated that treatment with atogepant 60 mg QD resulted in statistically significant improvements in all the primary and secondary endpoints. The most common adverse events reported with a frequency greater than or equal to 5% in the atogepant 60 mg QD arm were constipation (6.9% vs. 0.5% for placebo), nausea (6.1% vs. 1.8% for placebo), and upper respiratory tract infection (3.9% vs. 4.5% for placebo). Most of the events of constipation and nausea were mild or moderate in severity and did not lead to study discontinuation.Additional key secondary endpoints included change from baseline in MHDs, mean monthly acute-medication use days, and mean monthly performance of daily activities and physical impairment domain scores of the Activity Impairment in Migraine-Diary (AIM-D) across the 12-week treatment period, and change from baseline in the MSQ v2.1 RFR domain score at week 12. The AIM-D is a questionnaire designed to evaluate difficulty with performance of daily activities and physical impairment due to migraine.For a full listing of secondary endpoints across all regions, please go to www.clinicaltrials.gov (NCT03777059).About AbbVie in Neuroscience At AbbVie, our commitment to preserving personhood of people around the world living with neurological and psychiatric disorders is unwavering. With more than three decades of experience in neuroscience, we are providing meaningful treatment options today and advancing innovation for the future. AbbVie's Neuroscience portfolio consists of approved treatments in neurological conditions, including migraine, movement disorders, and psychiatric disorders, along with a robust pipeline of transformative therapies. We have made a strong investment in research and are committed to building a deeper understanding of neurological and psychiatric disorders. Every challenge makes us more determined and drives us to discover and deliver advancements for those impacted by these conditions, their care partners, and clinicians. For more information, visit www.abbvie.com.About AbbVieAbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @AbbVie on Twitter, Facebook, Instagram, YouTube, and LinkedIn.Forward-Looking Statements Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2022 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its subsequent Quarterly Reports on Form 10-Q. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.References 1 Curr Pain Headache Rep. 2012; 16(1): 86–92. 2 Rethinking Migraine in times of COVID-19. European Brain Council. 2023. https://www.braincouncil.eu/projects/rethinking-migraine/. Accessed June 2023. 3 AbbVie. Data on File: ABVRRTI76375 4 Ailani J, et al. NEJM. Atogepant for the Preventive Treatment of Migraine. 2021; 385:695-706. DOI: 10.1056/NEJMoa2035908. 5 Global Burden of Disease Study. 2016. Lancet Neurology 2018;17:954–76. 6 Rethinking Migraine in times of COVID-19. European Brain Council. 2023. Available at: https://www.braincouncil.eu/projects/rethinking-migraine/. Accessed May 31, 2023. 7 Lantéri-Minet M, Duru G, Mudge M, Cottrell S. Quality of life impairment, disability and economic burden associated with chronic daily headache, focusing on chronic migraine with or without medication overuse: a systematic review. Cephalalgia. 2011;31:837-850. 8 Messali A, Sanderson JC, Blumenfeld AM, et al. Direct and indirect costs of chronic and episodic migraine in the United States: a web-based survey. Headache. 2016;56:306-322.CisionView original content:https://www.prnewswire.com/news-releases/abbvie-secures-positive-chmp-opinion-for-atogepant-for-the-preventive-treatment-of-adults-with-migraine-301860962.htmlSOURCE AbbVie

PR Newswire

AbbVie Secures Positive CHMP Opinion for Atogepant for the Preventive Treatment of Adults with Migraine

https://finance.yahoo.com/news/abbvie-secures-positive-chmp-opinion-120400236.html

8b3bb9b1-0c5f-3cc1-8af5-79261c49b3d3

ABBV

June 23 (Reuters) - Boehringer Ingelheim's biosimilar of AbbVie Inc's blockbuster arthritis drug Humira will be included in the reimbursement list of UnitedHealth Group Inc's OptumRx unit, the German drugmaker said on Friday.The addition of the drug, Cyltezo, comes ahead of its U.S. launch on July 1. It will be offered on OptumRx's commercial formulary as a preferred brand, Boehringer said.Cyltezo was approved by the U.S Food and Drug Administration as a Humira biosimilar in 2021.Rival Amgen Inc was the first to launch a biosimilar of Humira earlier this year and half a dozen other companies including Teva Pharmaceutical plan to launch cheaper versions of Humira in the U.S. market in July.Humira, once the world's top selling drug, generated $21.24 billion in revenue for AbbVie in 2022.OptumRx is a pharmacy benefit manager, which negotiates rebates and fees with drug manufacturers, create lists of medications that are covered by insurance, and reimburse pharmacies for patients' prescriptions.AbbVie's shares were flat in afternoon trading.(Reporting by Mariam Sunny in Bengaluru; Editing by Sriraj Kalluvila)

Reuters

UnitedHealth unit to add Boehringer's Humira biosimilar to reimbursement list

https://finance.yahoo.com/news/unitedhealth-unit-add-boehringers-humira-161632584.html

e4b52ce3-5d52-3ac1-8c82-a22ae6bd9445

ABBV

– AbbVie's 2023 Week of Possibilities brings more than 14,000 employees together to participate in volunteer activities globally to strengthen local communities, expand educational programs and make a positive environmental impact– Week of Possibilities is AbbVie's annual, global volunteering program that unites employees around the world with a single purpose: to give back to local communities through volunteeringNORTH CHICAGO, Ill., June 26, 2023 /PRNewswire/ -- AbbVie kicks off its eighth Week of Possibilities today with more than 14,000 employees volunteering in more than 50 countries and territories to serve local communities around the world. The annual volunteer initiative is aligned to AbbVie's philanthropy strategy to make a remarkable impact in communities around the world. From June 26 to 30, AbbVie employees will work with trusted community partners to complete hands-on projects, such as supporting school renovations, beautifying outdoor spaces and sorting donations at food banks, to serve the greatest needs in local communities and help create a positive, lasting impact for tens of thousands of people."Since AbbVie was founded 10 years ago, we have been committed to supporting our local communities through volunteering," said Claudia Carravetta, president, AbbVie Foundation and vice president, Corporate Responsibility and Global Philanthropy. AbbVie. "Our volunteering programs are informed by listening to our community partners first to understand the areas of most significant need. I'm proud that during this year's Week of Possibilities we will have more than 14,000 employees working alongside our nonprofit partners to maximize the impact for communities in need."To bring Week of Possibilities to life, the AbbVie Foundation works with longstanding community partners, including Heart of America in the U.S. and Points of Light globally. At its North Chicago headquarters, AbbVie Foundation partners with North Chicago Community Partners, Bernie's Book Bank, Habitat for Humanity, Northern Illinois Food Bank, Cradles to Crayons and others. Service projects vary by region and include:Story continuesIn North Chicago, AbbVie volunteers will help clean up three local schools to prepare for students to return to class in the fall, engage in STEM enriching activities, put together thousands of backpacks and kits for students, participate in book and food sorting and distribution, and build two single family homes for families in need.AbbVie teams will transform STEM labs and makerspaces at schools in Santa Ana and South San Francisco, California; Washington, D.C.; Plantation, Florida; Boston and Worcester, Massachusetts; Plainfield and New Brunswick New Jersey; New York, New York; Philadelphia, Pennsylvania; and Austin, Houston and Waco, Texas.Globally, through AbbVie Foundation's partnership with Points of Light, employees will focus on making a positive impact to the environment and local communities through restoring and upgrading schools and community centers, cleaning up parks and beaches, participating in food sorting and distribution, developing kits for students, and engaging with local community members.Learn more about AbbVie's Week of Possibilities at abbvie.com/givesback and AbbVie's ongoing commitment to local communities in its 2022 ESG Action Report.About AbbVieAbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology and gastroenterology, in addition to products and services across our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, Instagram, YouTube and LinkedIn.About the AbbVie FoundationThe AbbVie Foundation, a nonprofit 501(c)(3) foundation, is dedicated to having a remarkable impact for local communities in need around the world through a commitment to building sustainable health care systems and effective educational programs. For more information, please visit www.abbviefoundation.org.CisionView original content:https://www.prnewswire.com/news-releases/abbvie-employees-volunteer-during-8th-annual-week-of-possibilities-to-support-communities-globally-301861273.htmlSOURCE AbbVie

PR Newswire

AbbVie Employees Volunteer During 8th Annual "Week of Possibilities" to Support Communities Globally

https://finance.yahoo.com/news/abbvie-employees-volunteer-during-8th-120000145.html

7dee8aa5-3ae9-3d40-8f75-fd5cddb2562c

ABBV

AbbVie ABBV announced that the European Medicines Agency's (“EMA”) Committee for Medicinal Products for Human Use (“CHMP”) has given a positive opinion for atogepant. The CHMP has recommended approval of atogepant to treat migraine in adults. AbbVie’s atogepant is a once-daily, orally administered, CGRP receptor antagonist, to treat patients who experience four or more migraine days per month.Chronic migraine (CM) is characterized by headaches for 15 or more days a month and at least eight migraine days, while episodic migraine (EM) refers to people with migraine who have less than 15 headache days per month. It’s a serious condition that reduces the efficiency of people suffering from it. In the European Union (EU), an estimated 41 million people suffer from migraine, which is considered to deprive the economy of approximately €50 billion annually due to reduced productivity and workdays lost.Year to date, shares of AbbVie have lost 15.9% against the industry’s 2% rise. Zacks Investment ResearchImage Source: Zacks Investment Research The positive opinion adopted by the EMA’s CHMP was based on results from two pivotal phase III studies, PROGRESS and ADVANCE, evaluating 60 mg dose strength of atogepant in adult patients with CM or EM, respectively. Both studies met the primary endpoint of a statistically significant reduction in mean monthly migraine days, compared to the treatment with placebo for 12 weeks. Furthermore, treatment with atogepant also met all secondary endpoints demonstrating statistically significant improvements.ABBV further reported that the 60 mg dose strength of atogepant demonstrated a safety profile consistent with previous studies and was overall well-tolerated by the patient population. The most common side effects of treatment with atogepant were constipation, nausea and fatigue. Nausea was observed to cause most study discontinuations related to an adverse drug reaction.Subject to approval, AbbVie is set to become the only company offering a drug with the CGRP receptor antagonist mechanism of action for the treatment of both episodic and chronic migraine in the EU.Story continuesAbbVie Inc. Price and Consensus AbbVie Inc. Price and ConsensusAbbVie Inc. price-consensus-chart | AbbVie Inc. QuoteZacks Rank and Stocks to ConsiderAbbVie currently has a Zacks Rank #3 (Hold).Some better-ranked stocks in the overall medical sector are Novartis NVS, Adaptimmune Therapeutics ADAP and Akero Therapeutics AKRO, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past 90 days, the Zacks Consensus Estimate for Novartis’ 2023 earnings per share has increased from $6.55 to $6.74. During the same period, the estimate for Novartis’ 2024 earnings has increased from $7.04 to $7.28. Year to date, shares of Novartis have gained by 11%.NVS beat estimates in each of the trailing four quarters, delivering an average earnings surprise of 5.15%.In the past 90 days, the Zacks Consensus Estimate for Adaptimmune Therapeutics’ 2023 loss per share has narrowed from 63 cents to 46 cents. During the same period, the estimate for Adaptimmune Therapeutics’ 2024 loss per share has narrowed from 59 cents to 56 cents. Year to date, shares of ADAP have fallen by 34.9%.ADAP beat estimates in each of the trailing four quarters, delivering an average earnings surprise of 36.89%.In the past 90 days, the Zacks Consensus Estimate for Akero Therapeutics’ 2023 loss per share has narrowed from $2.96 to $2.80. During the same period, the estimate for Akero Therapeutics’ 2024 loss per share has narrowed from $3.40 to $3.27. Year to date, shares of AKRO have lost 7.3%.AKRO beat estimates in three of the trailing four quarters, missing the mark on one occasion, delivering an average earnings surprise of 7.96%.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportNovartis AG (NVS) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportAdaptimmune Therapeutics PLC (ADAP) : Free Stock Analysis ReportAkero Therapeutics, Inc. (AKRO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

AbbVie (ABBV) Gets CHMP Positive Opinion for Atogepant Approval

https://finance.yahoo.com/news/abbvie-abbv-gets-chmp-positive-152300001.html

bb60c479-7979-32f5-afe2-239299e7d082

ABBV

AbbVie (ABBV) closed at $134.95 in the latest trading session, marking a -0.71% move from the prior day. This move lagged the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 3.58%.Prior to today's trading, shares of the drugmaker had lost 1.19% over the past month. This has lagged the Medical sector's gain of 1.08% and the S&P 500's gain of 5.01% in that time.AbbVie will be looking to display strength as it nears its next earnings release. On that day, AbbVie is projected to report earnings of $2.93 per share, which would represent a year-over-year decline of 13.06%. Meanwhile, our latest consensus estimate is calling for revenue of $13.52 billion, down 7.27% from the prior-year quarter.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.97 per share and revenue of $52.57 billion. These totals would mark changes of -20.33% and -9.45%, respectively, from last year.Investors might also notice recent changes to analyst estimates for AbbVie. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. AbbVie is currently a Zacks Rank #3 (Hold).Looking at its valuation, AbbVie is holding a Forward P/E ratio of 12.39. Its industry sports an average Forward P/E of 14.93, so we one might conclude that AbbVie is trading at a discount comparatively.Story continuesMeanwhile, ABBV's PEG ratio is currently 2.48. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.74 at yesterday's closing price.The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

AbbVie (ABBV) Dips More Than Broader Markets: What You Should Know

https://finance.yahoo.com/news/abbvie-abbv-dips-more-broader-214523386.html

3351cb13-f122-36be-bd4b-a5d639635538

ABBV

Tuesday, June 27, 2023The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Novo Nordisk A/S (NVO), The Home Depot, Inc. (HD) and The Walt Disney Company (DIS). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.You can see all of today’s research reports here >>>Shares of Novo Nordisk have outperformed the Zacks Large Cap Pharmaceuticals industry over the past year (+40.6% vs. +8.9%). The company has one of the broadest diabetes portfolios in the industry. Ozempic and Rybelsus have been performing well in the market. Saxenda and Wegovy sales have been gaining and maintaining momentum.Label expansion of the diabetes drugs is likely to further boost sales. Novo resolved the supply issues with Wegovy, which led to a sales increase in the first quarter of 2023, consequently raising its full-year guidance. The company’s diversifying efforts to develop new treatments are reassuring.However, Pfizer’s successful study on its oral type II diabetes candidate, danuglipron, is alarming. If approved, Pfizer is likely to eat away from Novo Nordisk’s Diabetes care market share. Patent expiry and pricing pressure across the diabetes market also remain a woe.(You can read the full research report on Novo Nordisk here >>>)Home Depot shares have gained +17.0% over the past year against the Zacks Building Products - Retail industry’s gain of +24.2%. The company has been witnessing significant benefits from the execution of the “One Home Depot” investment plan, which focuses on expanding supply chain facilities, technology investments and enhancement to the digital experience.The interconnected retail strategy and underlying technology infrastructure have helped consistently boost web traffic for the past few quarters. The company remains on track with its strategic investments to build a Pro ecosystem.However, shares of Home Depot lagged the industry year to date on dismal performance in first-quarter fiscal 2023. Results were impacted by a more broad-based pressure across the business, driven by softened demand versus expectations. A deflation in lumber prices and unfavorable weather have also hurt the results. HD also provided a conservative view for fiscal 2023.(You can read the full research report on Home Depot here >>>)Shares of Walt Disney have gained +5.4% over the past six months against the Zacks Media Conglomerates industry’s gain of +6.5%. The company is benefiting from growing popularity of Disney+ core, owing to a strong content portfolio and a cheaper bundle offering.Strong line-up of movies that include The Little Mermaid; Indiana Jones and the Dial of Destiny; Haunted Mansion, Poor Things and The Creator bodes well for the Media and Entertainment Distribution segment. Revival in Parks, Experiences and Products businesses is encouraging.Theme Park business is likely to gain from strong demand across both the domestic and international parks. However, Disney+’s profitability continues to be negatively impacted by higher programming and production costs across Disney+, ESPN+ and Hulu. Disney’s leveraged balance sheet remains a concern.(You can read the full research report on Walt Disney here >>>)Other noteworthy reports we are featuring today include AbbVie Inc. (ABBV), Intuit Inc. (INTU) and Automatic Data Processing, Inc. (ADP).Director of ResearchSheraz MianNote: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>Story continuesToday's Must ReadWegovy to Boost Novo Nordisk (NVO), Market Rivalry a WoeHome Depot's (HD) Interconnected Strategy to Boost SalesDisney+ Growth & Revival of Parks Business Aids Disney (DIS)Featured ReportsAbbVie's (ABBV) New Drugs to Make Up for Lost Humira SalesPer the Zacks Analyst, AbbVie has several new drugs in its portfolio, like Rinvoq and Skyrizi, which have the potential to drive its top line and make up for sales lost due to Humira generic erosion.Intuit (INTU) Rides on Product Refresh, Higher SubscriptionsPer the Zacks analyst, Intuit is benefiting from frequent product refreshes, which help it to gain customers. Moreover, increase in subscriptions is driving stable revenue growth for the company.Solid Business Model Aids ADP, Escalating Expenses HurtThe Zacks Analyst is positive about ADP's business model that ensures high recurring revenues, good margins, robust client retention and low capital expenditure. Rising expenses remain a concern.Technology, Loans Support ICICI Bank (IBN), High Costs AilPer the Zacks analyst, ICICI Bank's efforts to digitize operations, rising rates and steady loan and deposit growth will aid profitability. Yet, weak credit quality and higher costs are key headwinds.Progressive (PGR) Gains on Premiums, Cat Loss Woes Linger Per the Zacks analyst, Progressive is set to grow on solid Agency and Direct business, which will drive improvement in net premiums. However, exposure to catastrophe loss remains a headwind.Solid Investments Aid PSEG (PEG) Growth, Weak Solvency WoesPer the Zacks analyst, Public Service Enterprise Group's, also known as PSEG, consistent investments in infrastructure projects may aid its growth. Yet, its weak solvency position remains a bottleneckAspen (AZPN) To Benefit From Diversified Product PortfolioPer the Zacks analyst, Aspen will benefit from increased demand across all business segment and frequent product launches. However, stiff competition is a headwindNew UpgradesStrength in Energy Systems Segment Benefits EnerSys (ENS)Per the Zacks analyst, EnerSys' Energy Systems segment is driven by robust broadband, data center and telecom businesses. The company's shareholder friendly measures are encouraging.Dycom (DY) Rides on Solid Telecommunications Business GrowthPer the Zacks analyst, Dycom is befitting from increased demand for network bandwidth and mobile broadband. Also, new contracts and Engineering & Construction investments bode well.Online Strength & GenNext Plan to Aid Aaron's (AAN) Top LinePer the Zacks analyst, Aaron's has been gaining from cost-reduction initiatives, increased online traffic and strength in GenNext stores. This led to revenue growth of 21.5% in Q1.New DowngradesCallon (CPE) Likely to Get Hurt by Aggressive Capital BudgetThe Zacks analyst believes that Callon's higher 2023 operational capital budget of $1,000 million can affect its profitability. Also, the company's debt-laden balance sheet is concerning.Drop in M&A Activity Affects Revenues, Net Outflow IncreasesPer the Zacks Analyst, slowdown in deal making activity will affect financial advisory revenues. Also, a rise in net outflows and unsustainable capital deployment activities are concerning.Regulatory Requirements, Forex Woes Impairs Catalent (CTLT)The Zacks analyst is worried about Catalent's operation in a highly regulated healthcare industry. Unfavorable currency movement is an added issue.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAutomatic Data Processing, Inc. (ADP) : Free Stock Analysis ReportNovo Nordisk A/S (NVO) : Free Stock Analysis ReportThe Home Depot, Inc. (HD) : Free Stock Analysis ReportThe Walt Disney Company (DIS) : Free Stock Analysis ReportIntuit Inc. (INTU) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Top Stock Reports for Novo Nordisk, Home Depot & Walt Disney

https://finance.yahoo.com/news/top-stock-reports-novo-nordisk-162900968.html

ed45c49d-bb04-3e1f-a092-8ea6a81e1cba

ABBV

AbbVie (NYSE: ABBV) is facing a tough year ahead. Humira was a major revenue driver for AbbVie, contributing $3.5 billion out of the company's $12.2 billion total net revenue in the first quarter of 2023, and accounting for nearly 40% of the company's annual revenue in previous years. To cope with this challenge, AbbVie has made several strategic acquisitions in the past few years, such as Pharmacyclics for the blood cancer drug Imbruvica and Allergan for its medical aesthetics and neuroscience portfolios.Continue reading

Motley Fool

What Will AbbVie Buy Next?

https://finance.yahoo.com/m/ee32ae20-da6a-3630-94bf-fe176888c496/what-will-abbvie-buy-next-.html

ee32ae20-da6a-3630-94bf-fe176888c496

ABBV

In this article, we discuss 12 best long-term dividend stocks to buy now. You can skip our detailed analysis of dividend stocks and their performance over the years, and go directly to read 5 Best Long-Term Dividend Stocks To Buy Now. Last year was challenging for the overall stock market and particularly for growth stocks. On the other hand, dividend indexes and portfolios focused on dividends performed relatively well. Some even managed to achieve a small gain during that period. This year, the stock market has experienced a shift in investing style as growth stocks are reasserting their dominance over dividend stocks. However, this does not indicate that dividend stocks have lost their appeal as income generation and compounding growth continue to be the prime focus of investors this year as well.Evaluating the growth rate of dividends over multiple years can provide an understanding of the contribution of dividend stocks to long-term wealth creation. Increasing dividends mean shareholders receive larger cash payments over time. This growing income stream can be particularly beneficial for individuals who rely on dividend income for living expenses or as a source of regular cash flow. Moreover, companies that raise their payouts regularly have outperformed the market historically. According to a report by T. Rowe Price, the S&P 500 Dividend Aristocrat Index, which tracks the performance of companies with 25 consecutive years of dividend increases, has outperformed the S&P 500 by over 75% since 1989. Some of the best long-term stocks in this regard are Walmart Inc. (NYSE:WMT), Johnson & Johnson (NYSE:JNJ), and AbbVie Inc. (NYSE:ABBV).Also read: 14 Best Stocks for Long Term GrowthAnalysts have expressed a positive view of dividend stocks and exchange-traded funds in 2023 because of their long-term impact on returns. They believe that dividend funds are a safer choice because they invest in companies that have strong financial positions and healthy cash flows. These factors make them more likely to withstand economic downturns and remain resilient. Christopher Huemmer, senior vice president at FlexShares Exchange Traded Funds, highlighted the significance of dividend stocks while speaking with Reuters in April. He said:Story continues"Though we have experienced periods where the capital appreciation of a stock’s price has dwarfed the return from dividend income, the power of dividends should not be overlooked as a crucial component of equity performance."He further stated:"In volatile markets, dividends can act like the keel of a sailboat, providing a level of stable return in choppy seas."The historical evidence consistently supports the substantial contribution of dividend stocks to overall market returns. In our article titled 25 Things Every Dividend Investor Should Know, we reported Hartford Fund’s data, which showed that dividend income represented 41% of the S&P 500’s total return on average from 1930 to 2022. We also reported that from 2000 to 2009, the S&P 500 experienced negative returns due to the dot-com bubble burst in March 2000. Despite this, dividends provided a positive annualized return of 1.8% during that period. The fact that dividend income has accounted for a considerable portion of the S&P 500's total return emphasizes the significance of dividends for long-term investors, who prioritize generating regular cash flow from their investments.12 Best Long-Term Dividend Stocks To Buy NowPhoto by Austin Distel on UnsplashOur Methodology:For this list, we scanned Insider Monkey's database of 943 hedge funds as of Q1 2023 and selected companies that have raised their dividends for 15 consecutive years or more. Out of those companies, we shortlisted the stocks that have five-year average payout ratios of less than 60%. This also indicates that these companies allocate a healthy portion of their earnings in dividend payouts. From the resultant dataset, we picked 12 stocks with the highest number of hedge fund investors. The stocks are ranked in ascending order of hedge funds' sentiment towards them.12. United Bankshares, Inc. (NASDAQ:UBSI)Number of Hedge Fund Holders: 8 Consecutive Years of Dividend Growth: 49 5-Year Average Payout Ratio: 56.12%United Bankshares, Inc. (NASDAQ:UBSI) is a West Virginia-based bank holding company that offers personal banking, business banking, and wealth management services to its consumers. On May 10, the company declared a quarterly dividend of $0.36 per share, which was in line with its previous dividend. In 2022, it stretched its dividend growth streak to 49 years, which makes it one of the best long-term stocks. The stock has a dividend yield of 4.85%, as of June 27.In addition to Walmart Inc. (NYSE:WMT), Johnson & Johnson (NYSE:JNJ), and AbbVie Inc. (NYSE:ABBV), United Bankshares, Inc. (NASDAQ:UBSI) can also be added to dividend portfolios because of its consistent dividend growth.In the first quarter of 2023, United Bankshares, Inc. (NASDAQ:UBSI) reported strong earnings with revenue of $267 million, which showed a 12.4% growth from the same period last year. At the end of March 31, the company had roughly $2 billion in cash and cash equivalents, compared with $1.17 billion in the prior-year quarter.At the end of Q1 2023, 8 hedge funds tracked by Insider Monkey reported having stakes in United Bankshares, Inc. (NASDAQ:UBSI), compared with 9 in the previous quarter. These stakes have a collective value of over $12.8 million. Among these funds, Basswood Capital was the company's leading stakeholder in Q1.11. California Water Service Group (NYSE:CWT)Number of Hedge Fund Holders: 14 Consecutive Years of Dividend Growth: 56 5-Year Average Payout Ratio: 57.8%California Water Service Group (NYSE:CWT) is an American public utility company that provides drinking water and wastewater services. The company's operating revenue for the first quarter of 2023 came in at $131 million. With a 5-year average payout ratio of 57.8%, CWT is one of the best long-term stocks on our list.California Water Service Group (NYSE:CWT) has been growing its dividends for the past 56 years. It currently pays a quarterly dividend of $0.26 per share and has a dividend yield of 2.08%, as of June 27.As of the close of Q1 2023, 14 hedge funds in Insider Monkey's database reported having stakes in California Water Service Group (NYSE:CWT), the same as in the previous quarter. These stakes have a consolidated value of $111.3 million.10. Sonoco Products Company (NYSE:SON)Number of Hedge Fund Holders: 18 Consecutive Years of Dividend Growth: 40 5-Year Average Payout Ratio: 58.9%Sonoco Products Company (NYSE:SON) is a global packaging solutions provider that specializes in manufacturing industrial and consumer packaging products and providing related services. The company's cash flow remained solid during the first quarter of 2023, as its operating cash flow jumped to $98 million, from $1 million in the same period last year. It generated $86 million in free cash flow and paid $48 million in dividends to shareholders.On April 19, Sonoco Products Company (NYSE:SON) declared a 4.1% hike in its quarterly dividend to $0.51 per share. This was the company's 40th consecutive year of dividend growth, which makes it one of the best long-term stocks on our list. The stock's dividend yield on June 27 came in at 3.53%.Sonoco Products Company (NYSE:SON) was a part of 18 hedge fund portfolios, up from 17 in the previous quarter, as per Insider Monkey's database. The stakes owned by these hedge funds have a collective value of $140.6 million. With over 1.1 million shares, Impax Asset Management was the company's leading stakeholder in Q1.9. MDU Resources Group, Inc. (NYSE:MDU)Number of Hedge Fund Holders: 29 Consecutive Years of Dividend Growth: 32 5-Year Average Payout Ratio: 48.88%MDU Resources Group, Inc. (NYSE:MDU) is an American diversified natural resource company. It operates in various sectors, including energy, construction materials, and services. In June, BofA double-upgraded the stock to Buy from Underperform with a $22 price target, taking into account the spinoff of Knife River.In the first quarter of 2023, MDU Resources Group, Inc. (NYSE:MDU) reported revenue of $1.74 billion, which showed a 22.5% growth from the same period last year. The company's operating income for the quarter came in at $74.5 million, up 10.7% from the prior-year period.MDU Resources Group, Inc. (NYSE:MDU), one of the best long-term stocks, currently pays a quarterly dividend of $0.2225 per share. The company has rewarded shareholders with growing dividends for the past 32 years. The stock has a dividend yield of 4.38%, as of June 27.At the end of March 31, 29 hedge funds in Insider Monkey's database reported having stakes in MDU Resources Group, Inc. (NYSE:MDU), up from 27 in the previous quarter. These stakes have a total value of over $576.2 million.8. Waste Management, Inc. (NYSE:WM)Number of Hedge Fund Holders: 43 Consecutive Years of Dividend Growth: 20 5-Year Average Payout Ratio: 49.9%Waste Management, Inc. (NYSE:WM) is a Texas-based company that mainly provides environmental services to its consumers. It operates as a comprehensive provider of waste collection, disposal, recycling, and environmental solutions for residential, commercial, industrial, and municipal customers.On May 9, Waste Management, Inc. (NYSE:WM) declared a quarterly dividend of $0.70 per share, which was in line with its previous dividend. The company maintains a 20-year streak of dividend growth, which makes it one of the best long-term stocks on our list. As of June 27, the stock has a dividend yield of 1.67%.In April, Stifel upgraded Waste Management, Inc. (NYSE:WM) to Buy and also raised its price target on the stock to $177. The firm mentioned that the company is well-positioned to benefit from a recovery in commodities prices.According to Insider Monkey's database of Q1 2023, 43 hedge funds owned stakes in Waste Management, Inc. (NYSE:WM), worth roughly $7 billion collectively. With over 35 million shares, Bill & Melinda Gates Foundation Trust was the company's leading stakeholder in Q1.7. Texas Instruments Incorporated (NASDAQ:TXN)Number of Hedge Fund Holders: 52 Consecutive Years of Dividend Growth: 19 5-Year Average Payout Ratio: 55.2%Texas Instruments Incorporated (NASDAQ:TXN) is next on our list of the best long-term dividend stocks. The American semiconductor manufacturing company has a 19-year run of raising its dividends. It currently offers a quarterly dividend of $1.24 per share and has a dividend yield of 2.90%, as of June 27.In the first quarter of 2023, Texas Instruments Incorporated (NASDAQ:TXN) reported an operating cash flow of $1.12 billion and its free cash flow amounted to $178 million. For the trailing 12 months period, the company's free cash flow was $4.4 billion, which represented 23% of the revenue.At the end of Q1 2023, 52 hedge funds tracked by Insider Monkey owned stakes in Texas Instruments Incorporated (NASDAQ:TXN), worth collectively $3 billion roughly.6. Caterpillar Inc. (NYSE:CAT)Number of Hedge Fund Holders: 52 Consecutive Years of Dividend Growth: 29 5-Year Average Payout Ratio: 45.4%Caterpillar Inc. (NYSE:CAT) ranks sixth on our list of the best long-term stocks. On June 14, the company declared a quarterly dividend of $1.30 per share, having raised it by 8% from the previous dividend. This marked the company's 29th consecutive year of dividend growth. The stock's dividend yield on June 29 came in at 2.19%.Other dividend stocks that are on investors' radars include Walmart Inc. (NYSE:WMT), Johnson & Johnson (NYSE:JNJ), and AbbVie Inc. (NYSE:ABBV).In May, Evercore ISI gave a positive outlook on the industrial machinery group. The firm gave an Outperform rating to Caterpillar Inc. (NYSE:CAT) with a $263 price target.At the end of Q1 2023, Caterpillar Inc. (NYSE:CAT) was a part of 52 hedge fund portfolios, up from 50 in the preceding quarter, as per Insider Monkey’s data. The stakes owned by these funds have a consolidated value of over $2.88 billion. Click to continue reading and see 5 Best Long-Term Dividend Stocks To Buy Now.  Suggested articles:15 Best Large-Cap Value Stocks To Buy10 Most Competitive Industries in the World11 Best Medical Stocks Under $10Disclosure. None. 12 Best Long-Term Dividend Stocks To Buy Now is originally published on Insider Monkey.

Insider Monkey

12 Best Long-Term Dividend Stocks To Buy Now

https://finance.yahoo.com/news/12-best-long-term-dividend-132553164.html

e7fdec03-0e4e-30d7-8e9e-538d6e782967

ABBV

If you're in search of bargain stocks to buy, the healthcare industry is a great place to start looking. Among them are Johnson & Johnson (NYSE: JNJ), AbbVie (NYSE: ABBV), Bristol Myers Squibb (NYSE: BMY), Amgen (NASDAQ: AMGN), and Pfizer (NYSE: PFE) -- all of which pay dividends and offer great value.Continue reading

Motley Fool

5 High-Yielding Dividend Stocks That Are Bargain Buys

https://finance.yahoo.com/m/a94e5777-725a-3239-8a2a-b4d55b15885c/5-high-yielding-dividend.html

a94e5777-725a-3239-8a2a-b4d55b15885c

ABBV

Novartis NVS recently received an unfavorable ruling from the U.S. District Court for the District of Delaware regarding the validity of a patent covering its flagship product, Entresto.This patent, which includes the combination of sacubitril and valsartan, is set to expire in 2025 with its pediatric exclusivity. Despite the unfavorable ruling, Novartis firmly believes in the validity of the combination patent and intends to appeal the decision to the U.S. Court of Appeals for the Federal Circuit in the hopes of overturning the ruling. The U.S. District Court for the District of Delaware issued a negative decision regarding the validity of U.S. Patent No. 8,101,659, one of the patents listed in the Orange Book for Entresto.Consequently, shares were down on Jul 7 as investors were concerned about potential competition from generic entrants in the market.Presently, no generic versions of Entresto have received tentative or final approval from the FDA. This means that any launch of generic Entresto products before the final outcome of Novartis' appeal or any other ongoing patent infringement litigations may face the risk of subsequent legal developments.Despite this setback, Novartis maintains confidence in its growth and profitability outlook for both the short and mid-term on the back of the growth potential of its other key brands, including Kisqali, Pluvicto, Leqvio, Kesimpta, Scemblix and iptacopan.Novartis reiterated its full-year 2023 group guidance despite the potential entry of generic Entresto products in the United States earlier than expected.Total sales are projected to grow in mid-single digits, while core operating income is projected to grow in the high-single digits. Furthermore, Novartis maintains its mid-term sales growth outlook at 4% compound annual growth rate from 2022 to 2027, with a target core operating income margin of 40% for Novartis, excluding its subsidiary Sandoz.Novartis remains committed to its focused growth strategy, which centers around in-market and launch brands, as well as a robust pipeline of high-value innovative medicines.Story continuesNovartis has been actively engaged in litigation since 2019 with various abbreviated new drug application filings seeking approval to market generic versions of Entresto. Multiple Orange Book-listed patents provide protection to Entresto until as late as 2036, with expiration dates ranging from 2023 to 2036.On Jul 6, 2023, the U.S. District Court for the Northern District of West Virginia issued a decision that the proposed generic Entresto products from Mylan Pharmaceuticals Inc. will infringe U.S. Patent Nos. 8,877,938 and 9,388,134.Shares of Novartis have gained 4.4% in the year so far against the industry’s 2% decline.Zacks Investment ResearchImage Source: Zacks Investment ResearchNovartis’ performance in the first quarter was better than expected, with earnings and sales beating estimates. While the older drugs face generic competition, the continued strong performance of Entresto, Pluvicto, Kesimpta and Kisqali furled growth. Pluvicto and Scemblix saw strong launches and recorded solid sales. Demand for Pluvicto continues to exceed supply in the United States. The Leqvio launch continues to progress well.However, with Entresto now facing challenges, it remains to be seen how the company will achieve the set targets. Sales of Entresto came in at $1.4 billion in the first quarter of 2023.The company recently decided to divest its “front of eye” ophthalmology assets to Bausch + Lomb BLCO, a global eye health company.Xiidra, the first approved prescription treatment for dry eye disease, and SAF312, a first-in-class therapy for chronic ocular surface pain, are pivotal assets included in the transaction. Novartis has signed an agreement with Bausch + Lomb to transfer Xiidra and SAF312 (libvatrep) for $2.5 billion.Zacks Rank and Stocks to ConsiderNovartis currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy).  You can see the complete list of today’s Zacks #1 Rank stocks here.Over the past 30 days, earnings estimates for LGND have increased by $1.09 to $5.25. LGND topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 21.50%.Over the past 60 days, earnings estimates for ABBV have increased by 3 cents to $10.99 for 2023. ABBV surpassed estimates in all the trailing four quarters, the average surprise being 1.78%.Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportNovartis AG (NVS) : Free Stock Analysis ReportLigand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportBausch + Lomb Corporation (BLCO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Novartis (NVS) Entresto Patent Faces Setback, Stock Down

https://finance.yahoo.com/news/novartis-nvs-entresto-patent-faces-151400523.html

4c70d4a0-aff8-3cc8-bd95-553f745e95ab

ABBV

Bausch Health Companies Inc. BHC shares were up 8.45% after it announced a crucial development that will significantly enhance its liquidity.Bausch Health, in collaboration with leading investment firm KKR, has established a non-recourse financing facility worth $600 million. This facility, provided by KKR and its credit funds and accounts, will be collateralized by specific accounts receivable generated by a wholly-owned subsidiary of BHC.The primary objective of this financing facility is to strengthen Bausch Health's overall liquidity for general corporate purposes. By gaining access to this additional liquidity, the company will have greater flexibility to support its operations and pursue strategic initiatives. The facility's term is approximately five years, providing Bausch Health a long-term financial resource to effectively execute its plans.This strategic move by Bausch Health underscores the company's proactive approach to managing its liquidity position. This collaboration will empower the company to navigate the evolving pharmaceutical landscape.Bausch Health can utilize the funds for a range of corporate purposes, including research and development, acquisitions and debt repayment. This strengthened liquidity position is expected to have a positive impact on the company's overall financial health and support its long-term objectives.Bausch ended the first quarter with a staggering debt of $20.6 billion.The news of the additional liquidity cheered BHC investors as the company is currently sailing in rough storms with potential generic competition for one of its top drugs — Xifaxan.Bausch’s stock has gained 32.8% in the year so far compared with the industry's growth of 13.1%.Zacks Investment ResearchImage Source: Zacks Investment ResearchLast month, shares took a hit after the FDA granted tentative approval to Norwich Pharmaceuticals Inc.’s abbreviated new drug application for Xifaxan (rifaximin) 550 mg in a letter dated Jun 2, 2023.Story continuesHowever, the FDA confirmed in its letter that it cannot grant final approval until Oct 2, 2029, which is the date specified by the presiding judge in his final judgment in Salix Pharmaceuticals, LTD et al. v. Norwich Pharmaceuticals, Inc.Bausch’s gastroenterology business is conducted through Salix Pharmaceuticals. Xifaxan 550 mg tablets are indicated for reducing the risk of overt hepatic encephalopathy recurrence in adults and for treating irritable bowel syndrome with diarrhea in adults. It is one of the top drugs in BHC’s portfolio.Bausch Health intends to intervene in Norwich's lawsuit against the FDA.Xifaxan accounted for approximately 81% of the Salix reporting unit’s revenues in 2022. Salix generated revenues of $2.09 billion in 2022. Hence, an earlier-than-expected generic entry will adversely impact revenues.Zacks Rank and Stocks to ConsiderBausch currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy).  You can see the complete list of today’s Zacks #1 Rank stocks here.Over the past 30 days, earnings estimates for LGND have increased by $1.09 to $5.25. LGND topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 21.50%.Over the past 60 days, earnings estimates for ABBV have increased by 3 cents to $10.99 for 2023. ABBV surpassed estimates in all the trailing four quarters, the average surprise being 1.78%.Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportLigand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportBausch Health Cos Inc. (BHC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Bausch Health (BHC) Secures $600M Financing Facility, Stock Up

https://finance.yahoo.com/news/bausch-health-bhc-secures-600m-153100759.html

61f1f50a-73bd-3870-81dc-630d0ec66a04

ABBV

Roche RHHBY obtained conditional marketing authorization from the European Commission (EC) for its lymphoma drug Columvi (glofitamab).The drug has been approved for the treatment of adult patients with relapsed or refractory (R/R) diffuse large B-cell lymphoma (DLBCL) after two or more lines of systemic therapy.The approval is based on results from the phase I/II NP30179 study, where Columvi, given as a fixed course, induced early and long-lasting complete responses in people with heavily pre-treated or refractory diffuse large B-cell lymphoma.The approval makes Columvi, the first CD20xCD3 T-cell-engaging bispecific antibody, available to treat patients in Europe with the most common and aggressive form of lymphoma following multiple lines of therapy.The FDA recently approved Columvi for the treatment of adult patients with R/R DLBCL, not otherwise specified or large B-cell lymphoma (LBCL) arising from FL after two or more lines of systemic therapy for the treatment of individuals with R/R large B-cell lymphoma. It is also approved in Canada and submissions to additional health authorities worldwide are ongoing.Per Roche, Columvi has the potential to change the current standard of care in DLBCL as the drug is designed to be dosed for a fixed period of time, meaning that people have a target end date for their course of treatment and the possibility of a treatment-free period. It is also a chemotherapy-free treatment option that is off-the-shelf, meaning that individuals do not have to wait for cell collection and genetic engineering — a multistep process that can take several weeks — before starting treatment.DLBCL, an aggressive (fast-growing) type of lymphoma, is one of the most prevalent types of blood cancer among adults.Roche’s stock has lost 4.6% in the year so far compared with the industry’s decline of 1.6%. Zacks Investment ResearchImage Source: Zacks Investment Research Roche is evaluating Columvi in combination with other drugs as well. The company is investigating the potential of both Columvi and Lunsumio (mosunetuzumab) in earlier lines of treatment and in combination with other novel and chemotherapy-free agents, such as Polivy (polatuzumab vedotin), to provide patients with long-lasting outcomes.Story continuesWe note that Lunsumio (mosunetuzumab-axgb) was granted accelerated approval by the FDA in December 2022 for treating adult patients with R/R follicular lymphoma after two or more lines of systemic therapy.In addition, the late-stage STARGLO trial is evaluating Columvi in combination with gemcitabine and oxaliplatin (GemOx) versus rituximab in combination with GemOx in patients with second-line plus DLBCL who are ineligible for autologous stem cell transplant. Additional phase III studies are also planned, including in first-line DLBCL.Approval of new drugs bodes well for Roche, which boasts a strong hematology portfolio with drugs like MabThera/Rituxan (rituximab), Gazyva/Gazyvaro (obinutuzumab), Polivy, Venclexta/Venclyxto (venetoclax), Hemlibra (emicizumab), and Lunsumio.Roche’s performance in the first quarter was ordinary, as significantly lower COVID-19 product sales impacted the top line. However, new drugs — Ocrevus, Hemlibra, Evrysdi and Tecentriq — recorded growth and the uptake of the new eye drug, Vabysmo (launched at the beginning of 2022), was outstanding.Sales are likely to be impacted further due to the expected sharp decline in sales of COVID-19 products of roughly CHF 5 billion in 2023. Competition from biosimilars for established cancer medicines like Avastin, MabThera/Rituxan and Herceptin also harmed sales.Zacks Rank & Stocks to ConsiderRoche currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. Ligand currently sports a Zacks Rank #1 (Strong Buy) and AbbVie carries a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.Over the past 60 days, earnings estimates for LGND have increased 46 cents to $5.25 for 2023. LGND topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 21.50%.Over the past 60 days, earnings estimates for ABBV have increased 3 cents to $10.99 for 2023. ABBV surpassed estimates in all the trailing four quarters, the average surprise being 1.78%.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportRoche Holding AG (RHHBY) : Free Stock Analysis ReportLigand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Roche (RHHBY) Blood Cancer Drug Columvi Wins EC Approval

https://finance.yahoo.com/news/roche-rhhby-blood-cancer-drug-162400259.html

743377b9-f78e-3178-8225-4f1fa0e72fec

ABBV

Nono Nordisk’s NVO GLP-1 receptor agonists, indicated for weight loss and treating type II diabetes, are under scrutiny by the European Medicine Agency ("EMA"). The EMA stated that its safety committee is conducting a review of obesity and diabetes care drugs, which include Ozempic (semaglutide), Saxenda (liraglutide) and Wegovy (semaglutide). Data on these drugs are being reviewed for the risk of suicidal thoughts and self-harm associated with their use.Per the EMA, this review of the GLP-1 drugs was commenced by the Icelandic medicines agency, after receiving reports of suicidal thoughts and self-inflicted injuries in patients using liraglutide and semaglutide medicines. Authorities have reportedly identified about 150 reports of possible cases of self-injury and suicidal thoughts and are currently analyzing them.The stock of the company was down 3% on Tuesday, following the dismal news. Year to date, shares of Novo Nordisk have gained 12.5% against the industry’s 1.6% decline.Zacks Investment ResearchImage Source: Zacks Investment ResearchCurrently, NVO is a key player in the diabetes and obesity space. Its semaglutide was initially approved to treat type II diabetes, under the trade name Ozempic. Later, the company received label expansion in the United States for once-weekly semaglutide injections to treat obesity or overweight in adults, under the brand name Wegovy.The company is also currently evaluating a once-daily oral formulation of semaglutide for obesity indication in late-stage studies, with potential regulatory filings in the United States and EU, which is expected later this year.Liraglutide was initially approved as a chronic weight management treatment option for adults in addition to a reduced-calorie diet and physical activity. Subsequently, in 2020, liraglutide’s label was expanded to include the treatment of obesity in adolescents (12-17 years).The EMA has reported that the review of these drugs is being carried out in the context of a signal procedure. A signal here refers to safety information regarding a new adverse event or manifestation of a known adverse event that is potentially caused by the usage of a medicine. However, the EMA has clarified that if the presence of a signal is detected, it may not be necessarily caused by the usage of a particular medicine.Story continuesNotably, suicidal behavior is not currently listed as a side effect in the EU product information for any GLP-1 receptor agonists. The review of Ozempic, Saxenda and Wegovy started in July 2023 and has now been extended to include other GLP-1 receptor agonists. A final statement from the EMA is expected in November 2023.Other key players in the GLP-1 market include pharma bigwigs like Eli Lilly LLY and Pfizer PFE.In June 2023, Lilly completed the regulatory submission seeking label expansion for its dual GIP/GLP-1-RA drug, tirzepatide, to treat obesity or overweight in adults. A final decision is expected by the end of 2023. Data from one late-stage study (SURMOUNT-1), released last year, showed that treatment with tirzepatide led to mean weight reduction of up to 22.5% in patients without diabetes. Also, data from a second late-stage study (SURMOUNT-2) showed that tirzepatide treatment achieved mean reduction up to 15.7% in patients with type II diabetes.Like Eli Lilly, Pfizer is also evaluating pipeline candidates for obesity. In May 2023, Pfizer reported positive data from the phase II study of its oral type II diabetes candidate, danuglipron. Per the data readout, danuglipron helped patients lose weight faster than Novo Nordisk’s popular diabetes weekly injection, Ozempic. If danuglipron is successful in further studies and eventually approved, it can enjoy strong demand trends as the demand for weight loss drugs is huge and rising. Also, danuglipron is an oral pill compared with weekly injections with Ozempic/Wegovy, which is an easier-to-use formulation.Subject to the approval of their respective drugs, both Lilly and Pfizer have the potential to provide serious competition to Novo Nordisk and challenge its superiority in the diabetes and obesity care market.In a separate press release, Reuters claimed that only about one-third of patients receiving Wegovy therapy continued treatment with the drug a year later, amidst growing healthcare costs for the group of patients on which the observation was made. Reuters reported this anomaly after receiving an analysis of U.S. pharmacy claims. Per Reuters, after starting the medication, treatment costs with Wegovy or a similar drug increase by almost 59% over the course of a year, which is rising a serious affordability issue, especially when any improvement in health and subsequent reduction in medical costs is not likely to occur quickly.Novo Nordisk A/S Price and ConsensusNovo Nordisk A/S Price and ConsensusNovo Nordisk A/S price-consensus-chart | Novo Nordisk A/S QuoteZacks Rank and Stock to ConsiderNovo Nordisk currently has a Zacks Rank #3 (Hold).A better-ranked stock in the same industry is AbbVie ABBV, carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past 90 days, the Zacks Consensus Estimate for AbbVie’s 2023 earnings per share has increased from $10.97 to $10.99. During the same period, the estimate for AbbVie’s 2024 earnings has increased from $11.01 to $11.04. Year to date, shares of ABBV have lost 16.1%.ABBV beat estimates in each of the trailing four quarters, delivering an average earnings surprise of 1.78%.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportPfizer Inc. (PFE) : Free Stock Analysis ReportNovo Nordisk A/S (NVO) : Free Stock Analysis ReportEli Lilly and Company (LLY) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Novo Nordisk (NVO) Falls on EMA Safety Review of Obesity Drugs

https://finance.yahoo.com/news/novo-nordisk-nvo-falls-ema-115700793.html

424ae171-222b-3a82-91d9-c49c82b2aa92

ABBV

Incyte Corporation INCY recently announced positive top-line results from the late-stage TRuE-AD3 study on Opzelura (ruxolitinib cream).TRuE-AD3 (NCT04921969) is a randomized, double-blind, vehicle-controlled phase III study evaluating the safety and efficacy of ruxolitinib cream compared to vehicle (non-medicated cream) in children with atopic dermatitis (AD). The study enrolled more than 300 patients (age ≥2 to <12 years) diagnosed with AD for at least three months and who were candidates for topical therapy.Atopic dermatitis is a chronic skin condition characterized by inflammation and itchiness, affecting approximately 13% of all children in the United States. The symptoms of AD include redness, dry skin and intense itch.The study successfully met its primary endpoint, demonstrating that a significantly higher number of patients treated with ruxolitinib cream achieved Investigator's Global Assessment Treatment Success (IGA-TS) compared to those treated with a non-medicated cream. Patients treated with ruxolitinib cream 0.75% and 1.5% demonstrated a significantly higher treatment success rate compared to those using the non-medicated cream.The positive results from the TRuE-AD3 study highlight the potential of ruxolitinib cream to provide an effective non-steroidal topical therapy for children suffering from this condition.The overall safety profile of ruxolitinib cream remained consistent with previous data, with no new safety signals observed. The long-term safety portion of the study will proceed as planned.The positive data from the TRuE-AD1 and TRuE-AD2 studies, involving adult and adolescent patients, further reinforce the potential of ruxolitinib cream as an effective topical therapy. Incyte plans to discuss these favorable results with regulatory agencies to determine the next steps in the approval process.Opzelura, the topical cream formulation of Incyte's selective JAK1/JAK2 inhibitor ruxolitinib, has already received approval from FDA for the treatment of nonsegmental vitiligo in patients aged 12 years and older. Opzelura is also approved in the United States for the short-term and non-continuous chronic treatment of mild-to-moderate AD in non-immunocompromised patients aged 12 years and older, when other topical prescription therapies are not effective or advisable.Story continuesOpzelura cream 15mg/g is approved in Europe for the treatment of non-segmental vitiligo with facial involvement in adults and adolescents from 12 years of age.Incyte has worldwide rights for the development and commercialization of ruxolitinib cream, marketed in the United States and Europe as Opzelura.Shares of the company are down 21.7% in the year so far compared with the industry’s decline of 10.6%.Zacks Investment ResearchImage Source: Zacks Investment ResearchThe initial uptake of Opzelura has been strong. Positive regulatory decisions would likely lead to increased uptake of Opzelura in the market, expanding the patient population that can benefit from this innovative therapy. The potential approval of Opzelura for pediatric use opens up a new market segment and presents a growth opportunity for Incyte.We note that ruxolitinib is approved under the brand name Jakafi for the treatment of patients with polycythemia vera (PV) who have had an inadequate response to or are intolerant to hydroxyurea. It is also approved for patients with intermediate or high-risk myelofibrosis (MF), including primary MF, post-PV MF and post-essential thrombocythemia MF. The drug is also approved in the United States for treating steroid-refractory acute graft versus host disease in adult and pediatric patients aged 12 years or older.Incyte has a collaboration agreement with Swiss pharma giant Novartis NVS for Jakafi.Jakafi is marketed by Incyte in the United States and by Novartis as Jakavi outside the country.Zacks Rank and Stocks to ConsiderIncyte currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Over the past 60 days, earnings estimates for LGND have increased by 46 cents to $5.25. LGND topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 21.50%.Over the past 90 days, earnings estimates for ABBV have increased by 3 cents to $10.99 for 2023. ABBV surpassed estimates in all the trailing four quarters, the average surprise being 1.78%.Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportNovartis AG (NVS) : Free Stock Analysis ReportIncyte Corporation (INCY) : Free Stock Analysis ReportLigand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

Incyte's (INCY) Opzelura Meets Goal in Phase III Pediatric Study

https://finance.yahoo.com/news/incytes-incy-opzelura-meets-goal-145200999.html

a61ff0e8-14a5-3a58-a336-0cf3622fbf99

ABBV

AbbVie Inc. (NYSE:ABBV) shareholders might be concerned after seeing the share price drop 16% in the last quarter. But the silver lining is the stock is up over five years. In that time, it is up 50%, which isn't bad, but is below the market return of 67%.Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business. Check out our latest analysis for AbbVie In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.During five years of share price growth, AbbVie achieved compound earnings per share (EPS) growth of 1.4% per year. This EPS growth is slower than the share price growth of 8% per year, over the same period. So it's fair to assume the market has a higher opinion of the business than it did five years ago. And that's hardly shocking given the track record of growth.The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).earnings-per-share-growthDive deeper into AbbVie's key metrics by checking this interactive graph of AbbVie's earnings, revenue and cash flow.What About Dividends?As well as measuring the share price return, investors should also consider the total shareholder return (TSR). Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of AbbVie, it has a TSR of 90% for the last 5 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return.Story continuesA Different PerspectiveWhile the broader market gained around 18% in the last year, AbbVie shareholders lost 6.6% (even including dividends). Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Longer term investors wouldn't be so upset, since they would have made 14%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Even so, be aware that AbbVie is showing 5 warning signs in our investment analysis , you should know about...For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.Join A Paid User Research SessionYou’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here

Simply Wall St.

AbbVie (NYSE:ABBV) shareholders have earned a 14% CAGR over the last five years

https://finance.yahoo.com/news/abbvie-nyse-abbv-shareholders-earned-140101340.html

b9499f63-be42-38b2-bbfe-59ac58d7128d

ABBV

The U.S. Chamber of Commerce asked a judge to stop the federal government from putting into effect a law that will allow Medicare to negotiate the prices of some prescription drugs.Continue reading

Barrons.com

Big Pharma Ramps Up Fight Against Medicare Price Negotiations

https://finance.yahoo.com/m/63135cb0-9ffb-32b6-8429-15678d334965/big-pharma-ramps-up-fight.html

63135cb0-9ffb-32b6-8429-15678d334965

ABBV

AbbVie (ABBV) closed at $133.59 in the latest trading session, marking a -1.03% move from the prior day. This change lagged the S&P 500's 0.85% gain on the day. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 5.61%.Heading into today, shares of the drugmaker had lost 0.92% over the past month, outpacing the Medical sector's loss of 1.55% and lagging the S&P 500's gain of 3.18% in that time.Investors will be hoping for strength from AbbVie as it approaches its next earnings release, which is expected to be July 27, 2023. The company is expected to report EPS of $2.92, down 13.35% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.52 billion, down 7.27% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of $10.98 per share and revenue of $52.57 billion, which would represent changes of -20.26% and -9.45%, respectively, from the prior year.It is also important to note the recent changes to analyst estimates for AbbVie. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.57% lower within the past month. AbbVie is currently sporting a Zacks Rank of #3 (Hold).Looking at its valuation, AbbVie is holding a Forward P/E ratio of 12.3. This valuation marks a discount compared to its industry's average Forward P/E of 14.55.Story continuesWe can also see that ABBV currently has a PEG ratio of 2.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.62 based on yesterday's closing prices.The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 35% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

AbbVie (ABBV) Stock Sinks As Market Gains: What You Should Know

https://finance.yahoo.com/news/abbvie-abbv-stock-sinks-market-214522531.html

dbeed766-5650-301e-b135-bc5857a69fc4

ABBV

AbbVie (ABBV) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this drugmaker have returned -1.9%, compared to the Zacks S&P 500 composite's +3.2% change. During this period, the Zacks Large Cap Pharmaceuticals industry, which AbbVie falls in, has lost 1.3%. The key question now is: What could be the stock's future direction?While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.AbbVie is expected to post earnings of $2.92 per share for the current quarter, representing a year-over-year change of -13.4%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.1%.For the current fiscal year, the consensus earnings estimate of $10.98 points to a change of -20.3% from the prior year. Over the last 30 days, this estimate has changed -0.6%.Story continuesFor the next fiscal year, the consensus earnings estimate of $11.01 indicates a change of +0.3% from what AbbVie is expected to report a year ago. Over the past month, the estimate has changed -0.3%.Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, AbbVie is rated Zacks Rank #3 (Hold).The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:12 Month EPSRevenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.In the case of AbbVie, the consensus sales estimate of $13.52 billion for the current quarter points to a year-over-year change of -7.3%. The $52.54 billion and $52.97 billion estimates for the current and next fiscal years indicate changes of -9.5% and +0.8%, respectively.Last Reported Results and Surprise HistoryAbbVie reported revenues of $12.23 billion in the last reported quarter, representing a year-over-year change of -9.7%. EPS of $2.46 for the same period compares with $3.16 a year ago.Compared to the Zacks Consensus Estimate of $12.08 billion, the reported revenues represent a surprise of +1.17%. The EPS surprise was +0.82%.The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates just once over this period.ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.AbbVie is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about AbbVie. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

Zacks

AbbVie Inc. (ABBV) is Attracting Investor Attention: Here is What You Should Know

https://finance.yahoo.com/news/abbvie-inc-abbv-attracting-investor-130012641.html

3f13ca94-0d7f-32d8-bd72-2855e1f569ef

ABBV

In this article, we discuss 12 best dividend stocks under $10. You can skip our detailed analysis of dividend stocks and their performance, and go directly to read 5 Best Dividend Stocks Under $10. Despite facing various challenges, such as banking sector instability and concerns about the economy, the U.S. stock market has shown remarkable strength in the first half of 2023. The S&P 500 has surged by 18.03% this year as of July 17, which has astonished analysts considering the significant decline in equities during 2022. Additionally, the tech-heavy Nasdaq Composite has experienced a remarkable gain of 36.5%, achieving its best performance in the first half in four decades. Although the likelihood of a recession happening this year has decreased, there are still lingering economic concerns. The New York Federal Reserve's recession probability model, which analyzes the Treasury yield curve, indicated a 71% chance of a recession occurring within the next 12 months.Also read: 14 Best NASDAQ Dividend Stocks To BuyDuring these uncertain market conditions, investors are gravitating towards income-focused stocks to navigate the situation. Dividend stocks, in particular, have gained popularity as they have historically performed well during economic uncertainties, making them attractive choices for investors looking to stay financially stable. Moreover, dividend-paying stocks have made a substantial contribution to the overall market returns over the years. According to data from Hartford Fund, highlighted in an article titled ‘25 Things Every Dividend Investor Should Know,’ dividend stocks delivered an average annual return of 9.18% from 1973 to 2022. In comparison, non-dividend-paying stocks experienced a negative return of 0.60% during the same period. The S&P 500 index, on the other hand, returned 7.68% during that time frame. Some of the best dividend stocks that remain top on investors’ radars include Walmart Inc. (NYSE:WMT), Johnson & Johnson (NYSE:JNJ), and AbbVie Inc. (NYSE:ABBV) because of their consistent dividend growth over the years. If you want to know more about quality dividend stocks, have a look at 11 Best Quality Dividend Stocks to Buy.Story continuesThe investment landscape this year has once again shifted attention to tech stocks and analysts expect the rally to continue for the second half of the year as well. Dan Ives, an analyst at Wedbush, spoke with Fortune last month and gave a positive outlook on the tech sector. Here are some comments from the analyst:“In a nutshell, there will be winners and losers in tech, but ultimately we see a strong [second half of the year] ahead for the tech sector. While bears will continue to fret about tech valuations and the uncertain macro backdrop, we believe this ultimately is the start of a new tech bull market we see heading into 2024, being driven by this A.I. revolution coupled with a stabilizing IT spending environment.”Amidst the current tech frenzy, investments in dividend stocks have decreased. However, there is a high level of anticipation for their comeback due to their strong track record of historical performance. According to a report by Wall Street Journal, there are concerns that the Federal Reserve's interest rate hikes might trigger an economic recession. In such a situation, defensive companies that offer substantial dividends could excel once more. This is because, in times of economic decline, consumers typically focus on essential expenses, benefiting these defensive companies.12 Best Dividend Stocks Under $10Photo by Christian Dubovan on UnsplashOur Methodology:For this list, we used a Finviz stock screener to find dividend stocks trading below $10 as of July 17. From the initial list, we narrowed down the selection to companies that pay regular dividends to shareholders and possess robust dividend policies, ensuring consistent future dividends. From the resultant list, we picked 12 stocks with the highest number of hedge fund investors tracked by Insider Monkey as of Q1 2023.12. Hamilton Beach Brands Holding Company (NYSE:HBB)Number of Hedge Fund Holders: 4Share Price as of July 17: $9.85Hamilton Beach Brands Holding Company (NYSE:HBB) is an American leading designer, marketer, and distributor of small household appliances and commercial products. The company is known for manufacturing a wide range of kitchen appliances and related products.In the first quarter of 2023, Hamilton Beach Brands Holding Company (NYSE:HBB) reported revenue of $128.3 million, which fell by 12.4% growth from the same period last year. The company's operating cash flow for the quarter grew to $34.8 million compared to cash used for operating activities of $20.8 million in the prior year. At the end of March 31, it had over $2.2 billion available in cash and cash equivalents.On May 11, Hamilton Beach Brands Holding Company (NYSE:HBB) declared a quarterly dividend of $0.11 per share, raising it by 4.8%. With a dividend yield of 4.47%, HBB is one of the best dividend stocks on our list. Other dividend stocks grabbing investors' attention include Walmart Inc. (NYSE:WMT), Johnson & Johnson (NYSE:JNJ), and AbbVie Inc. (NYSE:ABBV).At the end of Q1 2023, 4 hedge funds in Insider Monkey's database owned stakes in Hamilton Beach Brands Holding Company (NYSE:HBB), the same as in the previous quarter. These stakes have a total value of over $12.3 million. Among these hedge funds, Third Avenue Management was the company's leading stakeholder in Q1.11. Colony Bankcorp, Inc. (NASDAQ:CBAN)Number of Hedge Fund Holders: 5Share Price as of July 17: $9.87Colony Bankcorp, Inc. (NASDAQ:CBAN) is a Georgia-based bank holding company that provides a wide range of banking and financial services to individuals and businesses. At the end of March 31, the company had roughly $82 million available in cash and cash equivalents, up from $80.7 million three months ago. It ended the quarter with roughly $3 billion in assets.Colony Bankcorp, Inc. (NASDAQ:CBAN), one of the best dividend stocks on our list, has been growing its dividends consistently for the past five years. The company currently pays a quarterly dividend of $0.11 per share and has a dividend yield of 4.46%, as of July 17.As of the close of Q1 2023, 5 hedge funds tracked by Insider Monkey owned stakes in Colony Bankcorp, Inc. (NASDAQ:CBAN), compared with 6 in the previous quarter. These stakes have a consolidated value of over $15 million.10. Riverview Bancorp, Inc. (NASDAQ:RVSB)Number of Hedge Fund Holders: 8Share Price as of July 17: $5.61Riverview Bancorp, Inc. (NASDAQ:RVSB) is next on our list of the best dividend stocks under $10. The Washington-based bank holding company offers a range of financial and banking services primarily to individuals and small to medium-sized businesses in the Pacific Northwest region of the United States.On June 30, Riverview Bancorp, Inc. (NASDAQ:RVSB) declared a quarterly dividend of $0.06 per share, which was in line with its previous dividend. The stock's dividend yield on July 17 came in at 4.65%.In the first quarter of 2023, Riverview Bancorp, Inc. (NASDAQ:RVSB) posted revenue of roughly $14.8 million, which fell slightly by 0.5% from the same period last year. The company has shown confidence in its cash generation and expects its cash flows to reach approximately $40.8 million over the next 12 months.At the end of March 31, 8 hedge funds in Insider Monkey's database were bullish on Riverview Bancorp, Inc. (NASDAQ:RVSB), compared with 9 funds in the previous quarter. These stakes have a total value of over $8 million. Among these hedge funds, Elizabeth Park Capital Management was the company's leading stakeholder in Q1.9. AudioCodes Ltd. (NASDAQ:AUDC)Number of Hedge Fund Holders: 9Share Price as of July 17: $9.91AudioCodes Ltd. (NASDAQ:AUDC) is an Israeli company that specializes in providing advanced voice networking and media processing solutions for businesses and service providers worldwide. In the first quarter of 2023, the company's cash position remained stable as it generated over $3.2 million in operating cash flow. During the quarter, it paid $5.7 million to shareholders in dividends, which makes it one of the best dividend stocks on our list.AudioCodes Ltd. (NASDAQ:AUDC) currently pays a semi-annual dividend of $0.18 and has paid regular dividends to shareholders since 2018. It has also raised its payouts every year since 2019. The stock has a dividend yield of 3.63%, as of July 17.The number of hedge funds tracked by Insider Monkey reported having stakes in AudioCodes Ltd. (NASDAQ:AUDC) grew to 9 in Q1 2023, from 6 in the previous quarter. The consolidated value of these stakes is over $12 million. Ken Griffin's Citadel Investment Group was the company's largest stakeholder in Q1.8. Brookline Bancorp, Inc. (NASDAQ:BRKL)Number of Hedge Fund Holders: 11Share Price as of July 17: $9.51An American bank holding company, Brookline Bancorp, Inc. (NASDAQ:BRKL) is next on our list of the best dividend stocks. The company generated roughly $100 million in revenues in the first quarter of 2023, which showed a 31.3% growth from the same period last year. It ended the quarter with $486.3 million in cash and cash equivalents, up from $383 million three months ago.Brookline Bancorp, Inc. (NASDAQ:BRKL) offers a per-share dividend of $0.135 every quarter. It has been growing its payouts consistently for the past five years. The stock's dividend yield on July 17 came in at 5.68%.According to Insider Monkey's database of Q1 2023, 11 hedge funds owned stakes in Brookline Bancorp, Inc. (NASDAQ:BRKL), down from 15 a quarter earlier. The total value of these stakes is nearly $40 million. Cliff Asness, Ken Griffin, and D. E. Shaw were some of the company's top stakeholders in Q1.7. VAALCO Energy, Inc. (NYSE:EGY)Number of Hedge Fund Holders: 15Share Price as of July 17: $3.97VAALCO Energy, Inc. (NYSE:EGY) is a Texas-based energy company that is engaged in the exploration, development, and production of oil and natural gas. The company initiated its dividend policy in the first quarter of 2021 and has paid regular dividends to shareholders since then. It currently pays a quarterly dividend of $0.0625 per share and has a dividend yield of 6.30%, as of July 17. It is one of the best dividend stocks under $10.In the first quarter of 2023, VAALCO Energy, Inc. (NYSE:EGY)'s revenue showed a 17.1% year-over-year growth at $80.4 million. The company generated $42 million in operating cash flow during the quarter.As of the close of Q1 2023, 15 hedge funds in Insider Monkey's database were long VAALCO Energy, Inc. (NYSE:EGY). The total value of stakes owned by these hedge funds is roughly $35 million. With over 2.3 million shares, Sabrepoint Capital was the company's leading stakeholder in Q1.6. ACCO Brands Corporation (NYSE:ACCO)Number of Hedge Fund Holders: 16Share Price as of July 17: $5.60ACCO Brands Corporation (NYSE:ACCO) is a global manufacturer and distributor of office products and school supplies. The company provides a wide range of essential products used in offices, schools, and homes to enhance productivity and organization.On April 28, ACCO Brands Corporation (NYSE:ACCO) declared a quarterly dividend of $0.075 per share, which was consistent with its previous dividend. The company has raised its payouts for four years in a row, which makes it one of the best dividend stocks on our list. As of July 17, the stock has a dividend yield of 5.36%. ACCO can be added to dividend portfolios alongside some of the best dividend stocks such as Walmart Inc. (NYSE:WMT), Johnson & Johnson (NYSE:JNJ), and AbbVie Inc. (NYSE:ABBV).As per Insider Monkey's database of Q1 2023, 16 hedge funds owned investments in ACCO Brands Corporation (NYSE:ACCO), worth collectively over $40.2 million. Among these hedge funds, AQR Capital Management was the company's leading stakeholder in Q1, owning a stake worth over $9 million.Click to continue reading and see 5 Best Dividend Stocks Under $10. Suggested articles:Top 10 AI Tools Cooler Than ChatGPT10 Best Innovative Stocks that Pay DividendsRay Dalio’s China StocksDisclosure. None. 12 Best Dividend Stocks Under $10 is originally published on Insider Monkey.

Insider Monkey

12 Best Dividend Stocks Under $10

https://finance.yahoo.com/news/12-best-dividend-stocks-under-205018428.html

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