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Lilly's Foundayo Wins UK Approval, Lifting Shares Nearly 3%
Eli Lilly's (LLY) shares jumped 2.9% after the UK became the first European country to approve its oral weight-loss drug Foundayo, adding about $30 billion to its market value.
Strategy Boosts Cash Reserves to $4.65B via $653M Stock Sale, Trims Bitcoin
Strategy raised $653M via stock sales, boosting cash reserves to $4.65B, while selling 1,690 BTC to fund preferred share buybacks. MSTR fell 3%.
Costco's July Sales Rise 10.7%, But Valuation Concerns Cap Stock Gains
Costco's July sales climbed 10.7% to $23.12B, but shares were flat as the market weighs a rich 47.7x P/E against steady comps of 6.6%. Analysts' $1,090 target implies a 48x forward multiple.
Apple Drops $97B After Jefferies Downgrade on iPhone Concerns
Apple (AAPL) lost about $97 billion in market value after Jefferies downgraded the stock to Underperform, citing iPhone pricing and margin pressures.
Archer Aviation Soars 11% on Boeing Deal, Eyes $200M Revenue
Archer Aviation (ACHR) jumped 11% after agreeing to acquire Boeing's Insitu, Wisk, and SkyGrid, adding $200M in annual revenue and a strategic partnership.
Sionna Therapeutics Collapses 92% After Phase 2a Setback
Sionna Therapeutics (SION) tumbled 92% after its Phase 2a trial failed to meet the primary endpoint, pushing the market cap below its cash holdings. Vertex (VRTX) rose on reduced competitive risk.
Quanterix Plunges 39% on Revised Guidance, Delayed Breakeven
Quanterix (QTRX) dropped 39% after lowering 2026 revenue guidance and delaying cash-flow breakeven to 2027. Q2 revenue rose 34% but margins were mixed.
Berkshire Shares Hit Record as Buffett Successor Ramps Up $28B Capital Push
Berkshire Hathaway (BRK.B) shares surged to an all-time high after Q2 operating earnings jumped 16.3% and new CEO Greg Abel deployed $28 billion in capital.