US Market Preview | NVIDIA surges 7%+ pre-market on earnings beat; Salesforce jumps 10%+ on strong results; PCE inflation tops estimates, rate hike fears mount
US Market Preview·- Nvidia and Salesforce released second-quarter financial reports that significantly exceeded market expectations, driving their pre-market stock prices up by over 7% and 10% respectively and boosting the broader AI chip sector. - The United States 7th month PCE price index rose by 3.7% year-on-year, coming in above expectations and raising market concerns regarding potential further interest rate hikes by the Federal Reserve. - Major corporate developments included Moderna experiencing pre-market profit-taking declines, Apple preparing for a CEO transition, and Meta reaching a 16.7 billion US dollar settlement regarding youth addiction allegations.Revolution Medicines Earns Buy as RASONQUE FDA Approval and Strong Pricing Outlook Drive Price Target Increase to $315
Tip Ranks·- LifeSci Capital analyst Charles Zhu maintained a buy rating on Revolution Medicines and raised the price target to 315.00 dollars. - The rating and price target increase are driven by the FDA approval of RASONQUE for metastatic pancreatic cancer, establishing the firm as a commercial-stage company with a strong monthly WAC price of 39,800 dollars. - Additional upside potential is supported by upcoming phase 3 trial results, pipeline expansion, and favorable real-world usage trends across multiple cancer indications.UBS Just Upgraded Argenx Stock. Here's Why.
Barchart Option·