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Kroger's stock rallies after the grocer named Greg Foran, the former leader of Walmart U.S. as its new CEO after a nearly yearlong search.
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Novo is asking the court to permanently ban Hims from selling compounded versions of its drugs that infringe patents, and is seeking to recover damages.
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The S&P 500's tech sector has seen the smallest increase of any group in its price-to-earnings ratio relative to its 10-year average, DataTrek found.
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Novo Nordisk Says It's Suing Hims to Halt Obesity Drug Copycats bloomberg.comNovo Nordisk sues Hims & Hers over copycat versions of Wegovy drugs; Hims stock plunges 27% CNBCHims & Hers Withdraws Knockoff Weight-Loss Pill After Regulatory Scrutiny The New York TimesWegovy maker sues Hims & Hers after company launches $49 weight-loss pill USA Today
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Last week's meltdown in risk assets doesn't represent an inflection point for the stock market overall — or for the artificial-intelligence sector that led it down — and investors should be more positive, Barclays says.
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Hims & Hers stock tumbled in early action on Monday after the U.S. company quickly reversed plans to introduce its own version of Novo Nordisk's Wegovy oral weight-loss drug.
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A slowing of rebalancing flows could eat at a big source of bond-market demand.
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Prime minister will command government with biggest majority in decades
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Investor sentiment toward software stocks is low, and now Workday is replacing a CEO who was known for having good sales relationships.
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Japan election: Japanese stocks surge to record high as PM Sanae Takaichi wins landslide election victory BBCView Full Coverage on Google News
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Sandisk and Micron could see industry-leading revenue growth in the coming years.
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Reliable power, nuclear investment, data-center efficiency, and grid capacity are now core drivers of stock returns from the AI theme as demand ramps.
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It was a choppy start to the short trading week, with stocks spending time in both positive and negative territory Tuesday. Bears gained the upper hand in the afternoon, though, with the three major indexes ending another day in the red.
SEE MORE The ESG Investing Backlash
Although this week's economic calendar is fairly thin, data from the Institute for Supply Management (ISM) this morning showed that activity in the services sector ticked up to 56.9% in August - the highest level since April - from July's 56.7%.
"This is the most recent piece of data to suggest the economy remains resilient and as such the market takeaway is that this gives the Fed more room to continue raising rates," says Michael Reinking, senior market strategist for the New York Stock Exchange. "Futures markets are now pricing in a 75% chance of a 75 basis-point hike later this month from a coin flip late last week." A basis point is one-one hundredth of a percentage point.
In reaction to today's ISM data, the 10-year Treasury yield rose to its loftiest level since mid-June. This, in turn, weighed on shares in the communication services (-1.3%) and technology (-0.6%) sectors, with names such as streaming giant Netflix (NFLX, -3.4%) and chipmaker Intel (INTC, -2.8%) seeing notable declines.
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As for the major indexes, the tech-heavy Nasdaq Composite fell 0.7% to 11,544, its seventh straight loss.
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