U.S. Stock Market Midday Update

Invivyd fell 9.13%, with increased trading volume. Based on recent key news:

1. On July 6, Invivyd received notification from the U.S. FDA to terminate the emergency use authorization for its COVID-19 preventive monoclonal antibody PEMGARDA. This decision led to a drop of about 6% in the stock price during pre-market trading, followed by a slight recovery.

2. On July 6, Invivyd stated that it is in dialogue with the FDA regarding next steps. The market has uncertainty about the future prospects of the drug, affecting investor confidence.

3. On July 7, despite analysts rating IVVD stock as "Buy," the stock price has fallen about 67% year-to-date, and the market remains cautious about its long-term performance. The biopharmaceutical industry faces risks from regulatory policy changes.

Stocks with High Trading Volume in the Industry

AbbVie fell 0.15%, with increased trading volume. Based on recent key news:

1. On July 7, the European Commission approved AbbVie's TEPKINLY combination therapy for the treatment of relapsed or refractory follicular lymphoma. This approval provides AbbVie with new growth opportunities in the European market, potentially increasing its market share.

2. On July 6, Cantor Fitzgerald raised AbbVie's target price from $240 to $265, reflecting market confidence in its future growth.

3. On July 6, AbbVie expects that second-quarter R&D and milestone expenses will impact earnings per share by $0.17, which may exert some pressure on short-term financial performance. The fundamentals of the biopharmaceutical industry will dominate performance in the second half of the year.

Gilead Sciences fell 0.36%. Based on recent key news:

1. On July 6, HSBC upgraded Gilead Sciences' rating from "Hold" to "Buy," raising the target price from $133 to $155. This rating upgrade reflects market confidence in Gilead's future performance, driving stock price fluctuations.

2. On July 8, Jim Cramer predicted that the biotechnology industry would see a wave of mergers and acquisitions, with Gilead Sciences leading the trend with an $8 billion acquisition. This news heightened market attention on Gilead, affecting its stock price.

3. On July 8, public disclosures showed that company insiders sold over 83,000 shares in the past 90 days, valued at approximately $10.82 million. This insider selling increased negative sentiment in the market, leading to stock price fluctuations. The biotechnology industry is active in mergers and acquisitions, intensifying market volatility.

Fortune Pharmaceuticals fell 3.01%. Based on recent key news:

1. On July 7, Fortune Pharmaceuticals announced the acquisition of Crinetics Pharmaceuticals for $10 billion, aiming to expand into the endocrinology field. This transaction is the largest in Fortune Pharmaceuticals' history and is expected to enhance adjusted operating revenue by 2029. Fortune's stock price fell 2% in after-hours trading. Source: Zhitong Finance

2. On July 8, Morgan Stanley released a research report, pointing out that this acquisition will add a fifth business pillar for Fortress Biotech, completing the company's pipeline layout. Morgan Stanley predicts that Crinetics' revenue will be USD 183 million and USD 830 million in 2027 and 2030, respectively. Source: Zhitong Finance

3. On July 8, RBC Capital raised the target price for Fortress Biotech from USD 543 to USD 570, maintaining an "Outperform" rating. Source: Gelonghui. The expansion in the field of endocrinology has attracted attention, with significant market fluctuations.

Stocks ranked among the top in industry market capitalization

Amgen rose 0.20%, with increased trading volume. Based on recent key news:

1. On July 8, Amgen signed a memorandum of cooperation with the International Clinical Trial Center of the Guangdong-Hong Kong-Macao Greater Bay Area, aiming to strengthen medical capabilities in Hong Kong and the Greater Bay Area and improve patient treatment outcomes. This cooperation will help promote Amgen's research and development in the Greater Bay Area and enhance market confidence.

2. On July 6, analysts raised the average target price for Amgen to USD 355.04, maintaining a "Buy" rating. This rating upgrade reflects the market's optimistic expectations for Amgen's future performance, supporting the stock price increase.

3. On July 7, Amgen's annualized return over the past 15 years was 13.3%, outperforming the market. The long-term excellent performance has strengthened investors' confidence in its stock. Increased innovative collaborations in the biotechnology industry