Reuters US Business

By Bhanvi Satija and Patrick Wingrove (Reuters) -Eli Lilly’s high profile weight-loss and diabetes drugs fell short of Wall Street sales estimates on Wednesday as supplies sat in warehouses, a 180-degree turn for the company after long struggling to meet outsized demand. Lilly shares were off 8%, wiping out nearly $70 billion from the Indianapolis-based …

Eli Lilly’s rare sales miss for weight-loss drug sends shares tumbling Read More »

By Lisa Baertlein, Doyinsola Oladipo and Jessica DiNapoli (Reuters) -U.S. shippers are steering clear of East and Gulf Coast ports amid worries the 45,000 dockworkers at those trade hubs will go on strike again if their union leader does not land a new contract with employers by a Jan. 15 deadline. The International Longshoremen’s Association …

US shippers avoid East Coast ports on risk of second strike Read More »

(Reuters) – Advanced Micro Devices shares fell 8% on Wednesday after the chip company’s revenue forecast failed to impress investors looking for a bigger windfall from the AI boom. AMD could lose around $20 billion in market value, based on premarket movements. The company has been one of the biggest winners of the chip demand …

AMD shares slump as forecast disappoints AI-focused investors Read More »

By Mariam Sunny (Reuters) – Biogen raised its annual profit forecast on Wednesday, as new treatments and cost-cutting measures offset declining sales of its multiple sclerosis drugs. However, the drugmaker’s shares fell nearly 3%, as sales of some key treatments such as its spinal muscular atrophy drug, Spinraza, and rare disease treatment, Skyclarys, missed estimates. …

Biogen lifts annual profit forecast as new treatments boost earnings Read More »

By Utkarsh Shetti and Abhijith Ganapavaram (Reuters) -Caterpillar on Wednesday trimmed its annual revenue forecast again on weakness in Europe and Asia/Pacific and lower equipment stocking by independent dealers in North America after another quarter of declining sales. Shares of the company, considered a proxy for global economic activity, fell 2.1%. It also warned gains …

Caterpillar forecast hit by lower N. America stockpiling, weak Europe, Asia/Pacific Read More »

(Corrects paragraph 1 of Oct. 29 story to say $5 billion AI chip sales forecast is for 2024, not 2025) By Arsheeya Bajwa and Max A. Cherney (Reuters) -Advanced Micro Devices on Tuesday forecast fourth-quarter revenue just shy of estimates and raised its artificial intelligence chip sales forecast to $5 billion for 2024 – not …

AMD revenue forecast and AI chip sales fails to impress Wall Street (Oct. 29) Read More »

By Sriparna Roy and Amina Niasse (Reuters) -Humana beat Wall Street estimates for third-quarter profit on Wednesday as it added more members than expected in its government-backed Medicare Advantage insurance business for older adults, and saw strength in its primary care segment CenterWell. The health insurer, a top provider of Medicare Advantage plans, said it …

Humana tops estimates on strength in Medicare and primary care Read More »

By Leroy Leo (Reuters) -AbbVie raised its annual profit forecast after strong sales of its newer immunology drugs and key cancer treatment helped the company beat Wall Street estimates for third-quarter earnings, sending the drugmaker’s shares up 2% on Wednesday. The company has been working to offset a decline in sales of Humira, once the …

AbbVie raises 2024 profit forecast on strong sales of key drugs Skyrizi, Rinvoq Read More »