BlackRock Sees Credit Market Risks Rising as Trade War Rages on
'We're likely to see spreads widen from here as we see further deterioration in risk assets and in overall credit quality,' Mitch Garfin, the firm's co-head of leveraged finance, said on Bloomberg Intelligence's Credit Edge podcast.
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a day ago
- Yahoo
Lilly stock falls as Mounjaro fails to show superiority over Trulicity
-- Eli Lilly and Company (NYSE:LLY) stock fell on Thursday morning after the pharmaceutical giant's diabetes drug Mounjaro failed to demonstrate superiority over its older GLP-1 drug Trulicity in a cardiovascular outcomes trial. Lilly's shares declined as much as 4.5% before paring the drop to 2.25% following the release of topline results from the SURPASS-CVOT trial, which compared the two incretin therapies in adults with type 2 diabetes and established atherosclerotic cardiovascular disease. While Mounjaro met its primary objective of non-inferiority with an 8% lower rate of major adverse cardiovascular events (MACE-3) compared to Trulicity, the results fell short of proving superiority. The trial showed a hazard ratio of 0.92 with a 95.3% confidence interval of 0.83 to 1.01, missing the threshold for statistical superiority. The study did show some positive secondary outcomes, including a 16% lower rate of all-cause mortality for Mounjaro versus Trulicity. Mounjaro also demonstrated greater improvements in A1C, weight reduction, and kidney function measures. However, these secondary endpoints were not controlled for multiplicity-adjusted type 1 error. Bloomberg Intelligence analyst Michael Shah called outcomes of the trial positive but underwhelming. "Eli Lilly's Mounjaro met the primary endpoint in the SURPASS-CVOT trial, demonstrating a non-inferior rate of major adverse cardiovascular events vs. Trulicity. Yet this is undermined by the fact that the trial also tested for superiority, but that was not achieved (or at least not disclosed in the initial release). The commercial implications could be limited, as prescribers generally view Mounjaro as a more effective GLP-1 than Trulicity." Lilly plans to present detailed results at the European Association for the Study of Diabetes Annual Meeting in September and submit the data to global regulatory authorities by year-end. Related articles Lilly stock falls as Mounjaro fails to show superiority over Trulicity If Powell goes, does Fed trust go with him? 7 Undervalued Stocks on the Rise With 50%+ Upside Potential Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Yahoo
BlackRock, Inc. (BLK): People Sent Me Emails Saying I Don't Know Anything, Says Jim Cramer
We recently published . BlackRock, Inc. (NYSE:BLK) is one of the stocks Jim Cramer recently discussed. BlackRock, Inc. (NYSE:BLK), the world's largest asset manager, has seen its shares gain 9.9% year-to-date. The firm has benefited from a growth in mergers and market activity after record-high interest rates eased. Cramer's previous remarks about BlackRock, Inc. (NYSE:BLK) have remarked that the firm's $12 trillion in assets under management can enable it to set up a sizable position for itself in the stablecoin market. This time, Cramer shared the responses he had received after speculating BlackRock, Inc. (NYSE:BLK)'s position in the stablecoin market: 'I mean I said that maybe there's a possibility that. .Blackrock could do a stablecoin. And you know you get the usual emails which is like you don't know what you're talking about, it's going to be much bigger.' Previously, Cramer discussed BlackRock, Inc. (NYSE:BLK) after its earnings: 'Oh, then BlackRock comes out. Now I've championed BlackRock since $600, but it's what have you done for me lately game. I hear it was at $1,111. I look at the headlines, and they seem solid, but there's a seemingly disappointing line about inflows… When I saw the stock up 20, I knew whoever was excited about how BlackRock beat the quarter was a dead man walking. Why? Well, because this is an inflow story, and those moronic quick draws would lose money, but I had no idea they'd lose almost 90 points. Source: PEXELS Now I'm quite confident that both stocks are going higher eventually, but now they have to shake out all the weak hands before that happens, and that takes time. You have to build a whole new shareholder base. The companies might help. They might come on and tell us where the sellers were wrong… But in earnings season, there's no such thing as do-overs. The fact is that if BlackRock or Wells Fargo had reported quarters that were in keeping with what was expected, they wouldn't necessarily be higher today, but they certainly wouldn't have ruined earnings season for me.' While we acknowledge the potential of BLK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Bloomberg
2 days ago
- Bloomberg
Bloomberg Intelligence: Harley Davidson Roars on Captive Deal
Watch Paul LIVE every day on YouTube: Bloomberg Intelligence hosted by Paul Sweeney and John Tucker -Joel Levington, Bloomberg Intelligence Global Director of Credit Research, discusses Harley Davidson earnings. Harley-Davidson shares rose after the sale of a minority stake in its captive-finance unit to KKR and Pimco. -Jennifer Bartashus, Bloomberg Intelligence Senior Analyst, Retail Staples & Packaged Food, discusses Kraft Heinz earnings. Kraft Heinz Co. used price increases to help offset volume declines as the company continues a strategic review of its brands. The company beat Wall Street sales estimates, with organic revenue in the second quarter declining 2%, aided by pricing rising 0.7 percentage points. -Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst, recaps earnings from Starbucks. Starbucks Corp. sales and profit fell more than anticipated, with comparable sales dropping 2% in the fiscal third quarter. Chief Executive Officer Brian Niccol said the turnaround efforts are 'ahead of schedule,' and he vowed to unleash 'a wave of innovation in 2026.' -Steve Man, Bloomberg Intelligence Global Autos and Industrials Research Manager, discusses Tesla agreeing to buy $4.3 billion worth of US-built batteries from LG Energy Solution Ltd., according to a person familiar with the matter.
