Short interest for Amgen gives investors a sense of the degree to which investors are betting on the decline of Amgen's stock. Short interest data is updated every two weeks.

Amgen Stock (NASDAQ:AMGN), Short Interest Report

Amgen

Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brings several rare disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.

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A weaker-than-expected jobs report sparked a widespread market rally in the last session of the week, as traders increased expectations on potential interest rate cuts later this year.

Stocks Rally As Jobs Report Rekindles Rate Cut Hopes, Apple Rockets, Bitcoin Soars Above $61,000: What&#39;s Driving Markets Friday?

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Amgen earnings beat estimates, and MariTide&#39;s promising Phase 2 results suggest significant differentiation from competitors.

Amgen Outlook Is Bright, Analyst Predict Obesity-Focused Drug Potential Will Drive Shareholder Value

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To gain an edge, this is what you need to know today.



Wage Growth Slows – Stock Market Celebrates, Five Real Reasons Apple Is Running Up

Amgen Inc

A weaker-than-expected jobs report sparked a widespread market rally in the last session of the week, as traders increased expectations on potential <a href="https://www.benzinga.com/topic/interest-rates">interest rate cuts later this year</a>.
In April, nonfarm payrolls expanded by 175,000 jobs, marking a significant slowdown from March&#8217;s robust pace of 315,000 and notably falling short <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38612469/job-market-cools-in-april-payrolls-miss-forecasts-wages-rise-less-than-expected">of the anticipated 238,000</a>.
Unexpectedly, the unemployment rate edged higher, while average hourly earnings softened more than forecasted, both indicating a slowdown in momentum within the labor market.
On a separate note, the latest surveys on service sector activity revealed an unexpected contraction in April, as reported by <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38616058/services-sector-activity-contracts-business-is-slowing-as-stocks-bonds-trim-gains">the Institute for Supply Management.</a>
Chicago Fed President Austan Goolsbee welcomed results from the jobs report, emphasizing that it boosts confidence that the economy is not overheating and inflation is not reaccelerating. 
The S&amp;P 500 surged by 1.2%, pushing the overall weekly performance into positive territory. The Nasdaq 100 experienced a remarkable 2% surge, marking its most robust performance in over two months. Among tech giants, Apple Inc. made headlines, rising nearly 7% following the announcement of a record-breaking $110-billion buyback program. The Cupertino, California-based company also beat both earnings and revenue estimates last quarter. 
Blue chips and small-cap stocks also rose, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) up by 0.9%.
Yields experienced a broad decline, with the two-year Treasury yield now settling at 4.8% after reaching a peak of 5.05% earlier in the week. 
The overall optimistic risk sentiment spurred gains in more speculative areas of the market, leading to a rise in cryptocurrencies across the board. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surged by 4.8%, surpassing the $61,000 mark.
Read also: <a href="https://www.benzinga.com/24/05/38616039/why-bitcoin-spiked-above-62-000-following-the-april-jobs-report">Why Bitcoin Spiked Above $62,000 Following The April Jobs Report</a>
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,881.25</td>
<td>1.9%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,677.36</td>
<td>1.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,126.34</td>
<td>1.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,033.91</td>
<td>0.9%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:30 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.2% to $511.54, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 1.2% to $386.42 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rocketed 1.9% to $435.11, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 2.8%, followed by the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>), up 0.8%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was the major laggard, down 0.7%.
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) rose over 13% following upbeat quarterly results. </li>
<li>Other stocks reacting to earnings were Booking Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NYSE">BKNG</a>), up about 4%, MercadoLibre Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) up 11%, EOG Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) down 1.6%, Monster Beverage Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>) up 1.9%, Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) down 4%, Expedia Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NYSE">EXPE</a>) down over 13%, Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) down over 8%, Block Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NASDAQ">SQ</a>) mostly flat, Coterra Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTRA#NYSE">CTRA</a>) up over 3%, The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) up 1.3%, Cheniere Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LNG#NYSE">LNG</a>) down 1.6%, CBRE Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBRE#NYSE">CBRE</a>) down 1%, Corebridge Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRBG#NYSE">CRBG</a>)</li>
</ul>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38590992/sell-in-may-and-go-away-does-the-trading-strategy-hold-up-in-election-years">Sell In May And Go Away: Does The Trading Strategy Hold Up In Election Years?</a>
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Stocks Rally As Jobs Report Rekindles Rate Cut Hopes, Apple Rockets, Bitcoin Soars Above $61,000: What's Driving Markets Friday?

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BMY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$47.00</td>
<td>$54.8K</td>
<td>1.6K</td>
<td>1.7K</td>
</tr>
<tr>
<td>ARDX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$7.50</td>
<td>$37.5K</td>
<td>921</td>
<td>435</td>
</tr>
<tr>
<td>AMGN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$320.00</td>
<td>$48.3K</td>
<td>20</td>
<td>250</td>
</tr>
<tr>
<td>BDX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$235.00</td>
<td>$111.2K</td>
<td>1.1K</td>
<td>207</td>
</tr>
<tr>
<td>HROW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$6.00</td>
<td>$49.2K</td>
<td>0</td>
<td>100</td>
</tr>
<tr>
<td>CI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$350.00</td>
<td>$49.9K</td>
<td>111</td>
<td>76</td>
</tr>
<tr>
<td>MDGL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$260.00</td>
<td>$61.5K</td>
<td>62</td>
<td>50</td>
</tr>
<tr>
<td>DXCM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$120.00</td>
<td>$41.2K</td>
<td>0</td>
<td>43</td>
</tr>
<tr>
<td>LLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$650.00</td>
<td>$46.0K</td>
<td>131</td>
<td>42</td>
</tr>
<tr>
<td>TMDX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$100.00</td>
<td>$31.8K</td>
<td>115</td>
<td>26</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding BMY (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), we observe a call option sweep with bearish sentiment. It expires in 49 day(s) on June 21, 2024. Parties traded 1276 contract(s) at a $47.00 strike. This particular call needed to be split into 26 different trades to become filled. The total cost received by the writing party (or parties) was $54.8K, with a price of $43.0 per contract. There were 1632 open contracts at this strike prior to today, and today 1797 contract(s) were bought and sold. 
• For ARDX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARDX#NASDAQ">ARDX</a>), we notice a call option trade that happens to be bullish, is expiring today. Parties traded 250 contract(s) at a $7.50 strike. The total cost received by the writing party (or parties) was $37.5K, with a price of $150.0 per contract. There were 921 open contracts at this strike prior to today, and today 435 contract(s) were bought and sold. 
• For AMGN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), we notice a put option sweep that happens to be bullish, expiring in 105 day(s) on August 16, 2024. This event was a transfer of 24 contract(s) at a $320.00 strike. This particular put needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $48.3K, with a price of $2015.0 per contract. There were 20 open contracts at this strike prior to today, and today 250 contract(s) were bought and sold. 
• Regarding BDX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>), we observe a call option sweep with bearish sentiment. It expires in 14 day(s) on May 17, 2024. Parties traded 206 contract(s) at a $235.00 strike. This particular call needed to be split into 26 different trades to become filled. The total cost received by the writing party (or parties) was $111.2K, with a price of $540.0 per contract. There were 1190 open contracts at this strike prior to today, and today 207 contract(s) were bought and sold. 
• Regarding HROW (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HROW#NASDAQ">HROW</a>), we observe a call option trade with bullish sentiment. It expires in 168 day(s) on October 18, 2024. Parties traded 100 contract(s) at a $6.00 strike. The total cost received by the writing party (or parties) was $49.2K, with a price of $492.0 per contract. There were 0 open contracts at this strike prior to today, and today 100 contract(s) were bought and sold. 
• For CI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>), we notice a call option sweep that happens to be bearish, expiring in 196 day(s) on November 15, 2024. This event was a transfer of 21 contract(s) at a $350.00 strike. This particular call needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $49.9K, with a price of $2380.0 per contract. There were 111 open contracts at this strike prior to today, and today 76 contract(s) were bought and sold. 
• Regarding MDGL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDGL#NASDAQ">MDGL</a>), we observe a call option trade with bullish sentiment. It expires in 77 day(s) on July 19, 2024. Parties traded 50 contract(s) at a $260.00 strike. The total cost received by the writing party (or parties) was $61.5K, with a price of $1230.0 per contract. There were 62 open contracts at this strike prior to today, and today 50 contract(s) were bought and sold. 
• Regarding DXCM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>), we observe a put option trade with bullish sentiment. It expires in 231 day(s) on December 20, 2024. Parties traded 43 contract(s) at a $120.00 strike. The total cost received by the writing party (or parties) was $41.2K, with a price of $960.0 per contract. There were 0 open contracts at this strike prior to today, and today 43 contract(s) were bought and sold. 
• Regarding LLY (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), we observe a call option trade with bearish sentiment. It expires in 14 day(s) on May 17, 2024. Parties traded 5 contract(s) at a $650.00 strike. The total cost received by the writing party (or parties) was $46.0K, with a price of $9200.0 per contract. There were 131 open contracts at this strike prior to today, and today 42 contract(s) were bought and sold. 
• Regarding TMDX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMDX#NASDAQ">TMDX</a>), we observe a call option trade with bearish sentiment. It expires in 77 day(s) on July 19, 2024. Parties traded 10 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $31.8K, with a price of $3180.0 per contract. There were 115 open contracts at this strike prior to today, and today 26 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

ARDX

DXCM

HROW

MDGL

TMDX

10 Health Care Stocks Whale Activity In Today's Session

RBC Capital analyst Gregory Renza maintains Amgen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) with a Outperform and lowers the price target from $332 to $328.

Price Target

RBC Capital Maintains Outperform on Amgen, Lowers Price Target to $328

Morgan Stanley analyst Terence Flynn maintains Amgen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) with a Equal-Weight and raises the price target from $271 to $310.

Morgan Stanley Maintains Equal-Weight on Amgen, Raises Price Target to $310

UBS analyst Colin Bristow maintains Amgen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) with a Neutral and raises the price target from $284 to $307.

UBS Maintains Neutral on Amgen, Raises Price Target to $307

William Blair analyst Matthew Phipps upgrades Amgen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) from Market Perform to Outperform.

William Blair Upgrades Amgen to Outperform

Amgen Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) reported first-quarter (Q1) earnings Thursday, touting adjusted EPS of $3.96, which beat the analyst <a href="https://www.benzinga.com/general/biotech/24/05/38601856/amgen-reports-better-than-expected-q1-results-50m-milestone-payment" target="_blank" rel="noreferrer noopener">consensus estimate of $3.87</a>.
Here are highlights from the release and subsequent analyst call:
<ul>
<li>Sales increased 22% Y/Y to $7.45 billion, which beat the analyst consensus estimate of $7.436 billion.</li>
<li>Amgen sees full-year 2024 adjusted EPS of $19-$20.20 versus consensus of $19.48.</li>
<li>The company is pulling the plug on AMG 786, an oral Phase 1 <a href="https://www.benzinga.com/general/biotech/24/05/38607066/amgen-stock-adds-good-weight-after-ceos-update-on-experimental-drug-rivaling-ozempic-nixing-oral-" target="_blank" rel="noreferrer noopener">candidate for obesity</a>, and remain focused on prioritizing differentiated medicines.</li>
<li>Amgen CEO Robert Bradway said the company is &#8220;confident in MariTide&#8217;s differentiated profile and believe it will address important unmet medical needs.&#8221;</li>
</ul>
Also Read: <a href="https://www.benzinga.com/general/biotech/24/04/38526278/sandoz-settles-patent-dispute-with-amgen-related-to-bone-disorder-drug-denosumab" target="_blank" rel="noreferrer noopener">Sandoz Settles Patent Dispute With Amgen Related To Bone Disorder Drug Denosumab</a>.
Analyst Take: William Blair&#8217;s analysis suggests that despite earlier uncertainties about MariTide&#8217;s effectiveness and safety since Phase 1 data release in 2022, the analyst sees its potential to stand out among other therapies, especially <a href="https://www.benzinga.com/general/biotech/24/02/36934096/weight-loss-drugs-new-entrant-amgen-to-compete-with-novo-nordisk-eli-lilly-as-investigational-wei" target="_blank" rel="noreferrer noopener">concerning treatment frequency</a>.
William Blair has revised its outlook on&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/AMGN/analyst-ratings" rel="noreferrer noopener">Amgen shares to Outperform</a>&nbsp;based on growing confidence in MariTide&#8217;s potential efficacy and safety compared to other therapies.&nbsp;
Amgen faces competition from Novo Nordisk A/S and Eli Lilly And Co. But MariTide has multi-blockbuster potential, with Amgen&#8217;s expertise likely to maximize its development, analysts say. 
The analyst writes, &#8220;It&nbsp;has grown more confident in the potential for the therapy&nbsp;to meaningfully differentiate from other therapies in development.&#8221;
Positive Phase 2 results, indicating a weight loss of over 20% with minimal adverse events and less frequent dosing, are expected to boost Amgen&#8217;s share prices.&nbsp;
While MariTide is the focus, William Blair notes Amgen&#8217;s other late-stage assets will diversify its product portfolio. This will offset anticipated declines from loss of exclusivities, particularly Prolia/Xgeva, in the short term.
Read Next: <a href="https://www.benzinga.com/general/biotech/23/12/36385381/full-approval-for-amgens-flagship-cancer-drug-lumakras-pushed-for-around-four-years" target="_blank" rel="noreferrer noopener">Full Approval For Amgen&#8217;s Flagship Cancer Drug Lumakras Pushed For Around Four Years</a>.
Price Action: AMGN shares are up 12.8% at $314.00 during the premarket session at last check Friday.
Image: Shutterstock

BMO Capital analyst Evan David Seigerman maintains Amgen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) with a Outperform and raises the price target from $336 to $355.

BMO Capital Maintains Outperform on Amgen, Raises Price Target to $355

To gain an edge, this is what you need to know today.
<img alt="" src="https://thearorareport.com/wp-content/uploads/2024/05/2024-05-03_08h41_09.png" style="height:341px; width:624px" />
<h3>Reduce Hedges And Deploy Cash</h3>
Hedges are profitable.&nbsp;It is time to take more partial profits.&nbsp;It is time to deploy slightly more cash.&nbsp;&nbsp;
<h3>Wage Growth Slows</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-wage-growth-slows-apple-running-up-spy-mc-05032024">click here</a> for an enlarged chart of SPDR S&amp;P 500 ETF Trust (ARCA:SPY) which represents the benchmark stock market index S&amp;P 500 (SPX).
Note the following:
<ul>
<li>The chart shows that the stock market may attempt to break out of consolidation and run towards the resistance zone.&nbsp;RSI on the chart shows that the stock market is set to run up.</li>
<li>There is aggressive buying in stocks, bonds, gold, silver, and bitcoin on the jobs report.&nbsp;Investors are celebrating slower wage growth and lower than expected job creation. Here are the details:
<ul>
<li>Non-farm payrolls came at 175K vs. 250K consensus.</li>
<li>Private non-farm payrolls came at 167K vs. 175K consensus.</li>
<li>Average hourly earnings came at 0.2% vs. 0.3% consensus.&nbsp;On an annualized basis, this wage growth is 2.4%.&nbsp;This is good news on the inflation front.</li>
</ul>
</li>
<li>With Powell itching to cut rates, this report is going to give Powell the ammunition he needs.</li>
<li>The stock market always has crosscurrents.&nbsp;One of the negatives from this jobs report is that with slowing jobs growth and slowing wage growth, the consumer may stop spending excessively.&nbsp;The U.S. economy has stayed out of recession because of excessive consumer spending.&nbsp;If the consumer stops spending excessively, earnings growth will be lower than the current Wall Street consensus.&nbsp;In turn, it will hit the stock market negatively.</li>
<li>Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) earnings were roughly inline with the consensus but worse than whisper numbers.&nbsp;Here are the two most important pieces of data:
<ul>
<li>Q2 iPhone revenue was $45.96B vs. $51.3B last year.</li>
<li>China sales are down 8%.</li>
</ul>
</li>
<li>In The Arora Report analysis, Apple is running up and creating positive sentiment in the entire stock market for the following reasons:
<ul>
<li>Apple announced the largest buyback in corporate history. It is $110B.</li>
<li>In his comments, Tim Cook&rsquo;s tone was more optimistic than we have heard thus far.</li>
<li>Cook is optimistic on China in spite of the data showing reasons to not be optimistic.</li>
<li>In a departure from Apple&rsquo;s standard practice, Apple gave guidance for the June quarter.&nbsp;Apple projects low single digit growth.&nbsp;Consensus for sales is $82.89B.&nbsp;It appears Apple departed from its standard practice because Cook sees the need for him to do everything he can to run up AAPL stock.</li>
<li>An AI announcement is likely on June 10 at WWDC.</li>
</ul>
</li>
<li>Amgen Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amgn#NASDAQ">AMGN</a>), a component of DJIA, is running up on the company teasing about good data from its weight loss drug from Phase 2 and plans to move to Phase 3.&nbsp; The move up in AMGN is helping DJIA run up.&nbsp;Investors are selling stocks of competitors Eli Lilly And Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lly#NYSE">LLY</a>) and Novo Nordisk A/S (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nvo#NYSE">NVO</a>).</li>
</ul>
<h3>Buy Zones And Buy Now Ratings&nbsp;</h3>
Consider continuing to hold good strategic positions.
Consider lightly buying, if underinvested, when stocks and ETFs fall in the buy zones.&nbsp; The Arora Report&#39;s Complete Model Portfolio updates with new zones are coming.&nbsp;&nbsp;
<h3>Nibbling</h3>
Consider not nibbling at this time.&nbsp;
Nibbling refers to buying very small quantities, often in existing long-term positions with the intention of exiting these additions in the short term.&nbsp; It is similar to trade around positions but without specific signals.
<h3>Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), Alphabet Inc Class C (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>), Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), Microsoft Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>), NVIDIA Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>),&nbsp;and AAPL.
In the early trade, money flows are positive in S&amp;P 500 ETF (SPY) and Invesco QQQ Trust Series 1 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>).
<h3>Momo Crowd And Smart Money In Stocks</h3>
The momo crowd is aggressively buying stocks in the early trade.&nbsp;Smart money is buying stocks in the early trade.
<h3>Gold</h3>
The momo crowd is buying gold in the early trade.&nbsp;Smart money is buying gold in the early trade.
For longer-term, please see gold and silver ratings.
The most popular ETF for gold is SPDR Gold Trust (ARCA:GLD). The most popular ETF for silver is iShares Silver Trust (ARCA:SLV).&nbsp;
<h3>Oil</h3>
The momo crowd is buying oil in the early trade.&nbsp;Smart money is buying oil in the early trade.
For longer-term, please see oil ratings.
The most popular ETF for oil is United States Oil ETF (ARCA:USO).
<h3>Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has run up above $60,000 on weaker jobs report.
<h3>Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp;The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp;If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp;When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp;High beta stocks are the ones that move more than the market.
<h3>Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of seven year duration or less.&nbsp;Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter">Generate Wealth Newsletter</a>.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

U.S. stocks were higher, with the Dow Jones index gaining over 400 points on Friday.
Shares of Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) rose sharply during Friday's session after the company reported better-than-expected first-quarter financial results. Also, the company announced a $50 million milestone <a href="https://www.benzinga.com/general/biotech/24/05/38601856/amgen-reports-better-than-expected-q1-results-50m-milestone-payment">payment from Royalty Pharma</a>.
Amgen reported quarterly earnings of $3.96 per share, which beat the analyst consensus estimate of $3.87 by 2.33%. The company said EPS decreased by 1% due to higher operating and interest expenses driven by the Horizon acquisition, partially offset by higher revenues, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
The company reported quarterly sales of $7.447 billion, which beat the analyst consensus estimate of $7.436 billion and represents a 21.98% increase over sales of $6.105 billion in the same period last year.
Amgen shares surged 12.2% to $312.45 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Tandem Diabetes Care, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNDM#NASDAQ">TNDM</a>) jumped 27.4% to $46.57 after the comapny reported better-than-expected first-quarter financial results.</li>
<li>WideOpenWest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOW#NYSE">WOW</a>) shares surged 26.1% to $4.7790 after the company received an unsolicited non-binding preliminary proposal from DigitalBridge Investments and various Crestview entities to purchase all of the outstanding shares of WOW! that Crestview does not currently own for $4.80 per share in cash.</li>
<li>El Pollo Loco Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOCO#NASDAQ">LOCO</a>) surged 24.8% to $10.73 after the company reported better-than-expected first-quarter results.</li>
<li>Twist Bioscience Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>) jumped 22.8% to $39.31 after the company reported better-than-expected second-quarter financial results.</li>
<li>Alignment Healthcare, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALHC#NASDAQ">ALHC</a>) surged 22.1% to $6.42 after the company reported better-than-expected first-quarter revenue results and issued second-quarter revenue guidance above estimates. Also, the company raised its FY24 revenue guidance above estimates.</li>
<li>Clearfield, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) surged 21.8% to $38.89 after the company reported better-than-expected second-quarter results and increased its repurchase authorization.</li>
<li>RE/MAX Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMAX#NYSE">RMAX</a>) surged 21% to $8.66 following upbeat quarterly results.</li>
<li>Ardelyx, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARDX#NASDAQ">ARDX</a>) shares rose 20.7% to $8.19 after the company reported better-than-expected first-quarter financial results.</li>
<li>ModivCare Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MODV#NASDAQ">MODV</a>) rose 19.8% to $26.33 after the company reported better-than-expected quarterly sales results.</li>
<li>OneSpan Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSPN#NASDAQ">OSPN</a>) shares gained 19.6% to $13.09 after the company reported better-than-expected first-quarter adjusted EPS and sales.</li>
<li>IES Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IESC#NASDAQ">IESC</a>) gained 19% to $162.91 following second-quarter results.</li>
<li>Adtalem Global Education Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATGE#NASDAQ">ATGE</a>) rose 16.2% to $60.71 following upbeat quarterly results.</li>
<li>Paylocity Holding Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCTY#NASDAQ">PCTY</a>) gained 16% to $173.49 after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates. The Board of Directors approve a $500 million share repurchase program.</li>
<li>MasTec, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) surged 14% to $103.86 after the company reported better-than-expected quarterly financial results.</li>
<li>CG Oncology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGON#NASDAQ">CGON</a>) gained 14% to $45.07.</li>
<li>ImmunityBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>) gained 11.2% to $9.97 after the company announced it signed an exclusive global arrangement with the Serum Institute of India. The company will be supplied with Bacillus Calmette-Guerin.</li>
<li>MercadoLibre, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) surged 10.3% to $1,661.60 after the company reported better-than-expected first-quarter financial results.</li>
<li>Tidewater Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDW#NYSE">TDW</a>) rose 9.8% to $103.13 following upbeat results.</li>
<li>Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) gained 9.4% to $11.98.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) rose 9% to $115.59.</li>
<li>Universal Display Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLED#NASDAQ">OLED</a>) gained 8.6% to $169.84 after the company reported better-than-expected first-quarter financial results.</li>
<li>XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) gained 7.4% to $116.96 following better-than-expected first-quarter financial results.</li>
<li>Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) gained 6.7% to $3,705.00 after the company reported better-than-expected first-quarter financial results.</li>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) rose 6.4% to $184.09 after the company reported better reported better-than-expected results for its second quarter.</li>
<li>Workiva Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WK#NYSE">WK</a>) gained 5.9% to $84.76 following strong quarterly earnings and upbeat EPS guidance.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38613217/top-3-energy-stocks-that-could-blast-off-this-month">Top 3 Energy Stocks That Could Blast Off This Month</a>

Intraday Update

ALHC

Adtalem Global Education Inc. Common Stock

ATGE

CGON

CLFD

ENPH

IBRX

IESC

LOCO

MODV

OLED

OSPN

PCTY

RMAX

TNDM

TWST

Amgen Posts Upbeat Results, Joins OneSpan, Paylocity Holding, MercadoLibre And Other Big Stocks Moving Higher On Friday

Barclays analyst Carter Gould upgrades Amgen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) from Underweight to Equal-Weight and raises the price target from $230 to $300.

Barclays Upgrades Amgen to Equal-Weight, Raises Price Target to $300

Stocks look set to carry forward the upward momentum on Friday <a href="https://www.benzinga.com/news/earnings/24/05/38599545/apple-q2-earnings-beats-muted-forecast-on-services-mac-strength-installed-base-at-fresh-record-cupe">amid some earnings cheer, </a>although a tinge of nervousness is evident ahead of the all-important non-farm payrolls report. A strong labor market would give the nod for the Federal Reserve to stay &#8220;higher for longer,&#8221; and a wage inflation measure from the report will also be on investors&#8217; radar. Also, a national non-manufacturing activity reading is due for the day.
Apple, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPL#NASDAQ">APPL</a>) appeased the Street with a quarterly report that was not so bad as feared. The company also announced a massive buyback program and a modest dividend hike. The stock has a little under 6% weighting in the S&amp;P 500 Index.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.70%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.42%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.83%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.07%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Friday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.41% to $507.08,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) jumped 0.71% to $429.93, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
Stocks rose solidly on Thursday in a relief rally following the Fed decision, with falling bond yields also working in favor of the market. The major indices opened higher but reversed course and fell below the unchanged line briefly in late-morning trading. Buying resumed thereafter, sending the averages steadily higher.
In the process, the Nasdaq Composite and the S&amp;P 500 Index snapped a two-session losing streak. Communication services, IT, and consumer discretionary stocks advanced solidly, while health care and material stocks came under selling pressure.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+1.51%</td>
<td>15,840.96</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.91%</td>
<td>5,064.20</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.85%</td>
<td>38,225.66</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.81%</td>
<td>2,016.11</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts: The market will likely do well, <a href="https://www.youtube.com/watch?v=p9TrELXHoyE">said</a> Fund Strat&#8217;s Tom Lee in a CNBC interview, although he predicated his prediction on a condition. &#8220;I know investors are wrestling with a lot of questions in their minds because inflation is higher than expected at the start of the year and rates are higher and stocks are higher, he said. 
Amid the different forecasts for Fed rates, market participants were wondering whether this was a payback period, he added.
Lee noted that earnings season has been overall good although there is evidence that companies are unable to pass on prices, demand is weak, and wage pressures are prevalent. 
&#8220;I think, that&#8217;s part of the confusion that&#8217;s taking place now. But to me, I&#8217;m kind of in the camp that despite all this, it&#8217;s all going to come down to whether inflation improves in the next couple of months or the rest of the year,&#8221; he said.
&#8220;If it does, a lot of these clouds will lift.&#8221; 
Upcoming Economic Data:
<ul>
<li>The Labor Department is due to release its monthly non-farm payrolls report for April at 8:30 a.m. EDT. Economists, on average, expect payroll growth of 240,000, down from the 303,000 pace seen in March. The unemployment rate may have remained unchanged at 3.8% and the annual rate of the average hourly earnings &#8211; an inflation measure, may have ticked down from 4.1% to 4.0%.</li>
<li>The Institute for Supply Management will release the results of its non -manufacturing sector survey at 10 a.m. EDT. The non-manufacturing purchasing managers&#8217; index for April is expected to improve from 51.4% in March to 52%.</li>
<li>Chicago Fed President Austan Goolsbe is scheduled to speak at 7:45 p.m. EDT and New York Fed President John Williams at 8:15 p.m. EDT.</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
<ul>
<li>Apple climbed about 6% <a href="https://benzinga.grsm.io/lxquj26b2sag">in premarket trading </a>following its quarterly results.</li>
<li>Other stocks moving on earnings are Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) (up over 14%), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>) (down about 12%), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>) (up over 10%), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>) (down about 13%), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) (down about 3.5%), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>) (up over 5%), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) (down over 10%), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) (down about 4.5%), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>) (up over 3%), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>) (up over 3%), Tandem Diabetes Care, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNDM#NASDAQ">TNDM</a>) (up over 17.5%) and Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) (up about 10%).</li>
<li>American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), Cboe Global Markets, Inc. (CBOE: CBOE), Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>) and Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>), XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting earnings ahead of the market opening.</a></li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures rose modestly in early trading after a four-session losing streak and gold futures were found teetering just above the $2,300-an ounce mark.
The 10-year note yield was flattish at 4.571%, after retreating over 1% on Thursday.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) climbed and traded above the $59K level.
Asian stocks that were open for trading closed mostly higher, tracking the optimism on Wall Street overnight and the positive earnings report from Apple. The Japanese and Chinese markets remained closed for public holidays. The European markets remained firmly in the green in early trading.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38607876/steve-jobs-wasnt-a-fan-but-apples-record-stock-buyback-is-so-massive-it-dwarfs-valuations-of-boe">Steve Jobs Wasn&#8217;t A Fan, But Apple&#8217;s Record Stock Buyback Is So Massive It Dwarfs Valuations Of Boeing, Starbucks, eBay And 415 Other S&amp;P 500 Companies</a>
Photo via Shutterstock

Futures

Previews

Federal Reserve

Pre-Market Outlook

APPL

BBAI

BJRI

CBOE

FIVN

ILMN

OPEN

Wall Street Looks To Feed Off Apple's Post-Earnings Power But Key Jobs Data May Upset The Cart: Analyst Says 'A Lot Of These Clouds Will Lift' If This Happens

WIIM

Amgen shares are trading higher after the company reported better-than-expected Q1 financial results.

Shares of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) rose sharply in today's pre-market trading after the company reported better reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/05/38599545/apple-q2-earnings-beats-muted-forecast-on-services-mac-strength-installed-base-at-fresh-record-cupe">results for its second quarter</a>.
The company announced a $110-billion stock buyback program and a one-penny-per-share increase in its quarterly dividend.
Apple shares jumped 5.9% to $183.24 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Vaxxinity, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VAXX#NASDAQ">VAXX</a>) gained 45.8% to $0.1519 in pre-market trading after falling 9% on Thursday. Vaxxinity recently announced its intention to voluntarily delist and deregister its Class A common stock.</li>
<li>El Pollo Loco Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOCO#NASDAQ">LOCO</a>) gained 23.1% to $10.59 in pre-market trading after the company reported better-than-expected first-quarter results.</li>
<li>AXT, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXTI#NASDAQ">AXTI</a>) rose 23.8% to $3.75 in today's pre-market trading after the company reported better-than-expected first-quarter financial results.</li>
<li>Jaguar Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAGX#NASDAQ">JAGX</a>) jumped 20.7% to $0.3540 in pre-market trading after surging 30% on Thursday.</li>
<li>Ardelyx, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARDX#NASDAQ">ARDX</a>) shares gained 19.2% to $8.09 in pre-market trading after the company reported better-than-expected first-quarter financial results.</li>
<li>OneSpan Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSPN#NASDAQ">OSPN</a>) shares gained 18.6% to $13.00 in pre-market trading after the company reported better-than-expected first-quarter adjusted EPS and sales.</li>
<li>Rapid Micro Biosystems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPID#NASDAQ">RPID</a>) shares rose 16.2% to $1.15 in pre-market trading.</li>
<li>The OLB Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLB#NASDAQ">OLB</a>) shares gained 19.8% to $0.5636 in pre-market trading after gaining 12% on Thursday. The company announced its shareholders approve a 1-for-10 reverse split.</li>
<li>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) shares rose 14.2% to $318.01 in pre-market trading after the company reported better-than-expected first-quarter financial results. Also, the company announced a $50 million milestone payment from Royalty Pharma.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>NanoVibronix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAOV#NASDAQ">NAOV</a>) fell 44.8% to $0.3988 in pre-market trading after gaining 7% on Thursday.</li>
<li>Sprout Social, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPT#NASDAQ">SPT</a>) shares declined 25.2% to $36.00 in pre-market trading after the company reported worse-than-expected first-quarter revenue results.</li>
<li>Marin Software Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRIN#NASDAQ">MRIN</a>) fell 19.4% to $2.54 in pre-market trading after the company reported a year-over-year decrease on first-quarter revenue results.</li>
<li>Stem, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STEM#NYSE">STEM</a>) shares fell 18.7% to $1.55 in pre-market trading after the company reported worse-than-expected first-quarter financial results and cut its FY24 revenue guidance.</li>
<li>Terran Orbital Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLAP#NYSE">LLAP</a>) shares fell 18.5% to $1.05 in pre-market trading fter Lockheed Martin withdrew its buyout proposal.</li>
<li>Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>) fell 14% to $76.50 pre-market trading after the company reported first-quarter financial results and issued FY24 revenue guidance below estimates.</li>
<li>Trupanion, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRUP#NASDAQ">TRUP</a>) shares declined 13% to $20.68 in pre-market trading following first-quarter results.</li>
<li>BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>) shares fell 12.1% to $1.52 in pre-market trading after the company reported worse-than-expected first-quarter financial results.</li>
<li>Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) shares declined 10.1% to $121.92 in pre-market trading after the company lowered its full-year guidance.</li>
<li>Fortinet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) fell 8.3% to $59.81 pre-market trading after the company reported its first-quarter financial results.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/05/38606910/investor-sentiment-increases-ahead-of-jobs-report-dow-jumps-over-300-points">Investor Sentiment Increases Ahead Of Jobs Report, Dow Jumps Over 300 Points</a>

AXTI

JAGX

LLAP

MRIN

NAOV

RPID

STEM

TRUP

VAXX

Why Apple Shares Are Trading Higher By 6%; Here Are 20 Stocks Moving Premarket

Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) shares rallied over 14% in Thursday&#8217;s after-hours trading after the biopharma reported a <a href="https://www.benzinga.com/general/biotech/24/05/38601856/amgen-reports-better-than-expected-q1-results-50m-milestone-payment">double beat and offered an update on its obesity drug pipeline.</a>
What Happened: Amgen said on the call that it was pulling the plug on AMG 786, an oral Phase 1 candidate for obesity. &#8220;We will not pursue further development. Instead, in obesity, we&#8217;re differentially investing in MariTide and a number of preclinical assets,&#8221; said Amgen&#8217;s EVP and Chief Scientific Officer Jay Bradner.
The rationale offered was prioritization. &#8220;Across the portfolio, we are presently prioritizing differentiated medicines, those that stand to provide the greatest benefit for patients,&#8221; he said.
MariTide, formerly AMG 133, is an injectable form of drug targeting two gut hormones — gastric inhibitory polypeptide receptor, or GIP, and glucagon-like peptide 1, or GLP-1, which is being investigated in a Phase 2 trial for the treatment of obesity.
In this introductory remarks on the earnings call, Robert Bradway, CEO of Amgen, said interim Phase 2 analysis of data from the study was complete, and that the results were very encouraging. &#8220;Following the interim analysis, I would say we&#8217;re confident in MariTide&#8217;s differentiated profile and believe it will address important unmet medical needs,&#8221; he said.
Giving more color, Bradner said all arms in the study remained active and patient dropout hasn&#8217;t been an issue. He also said the top-line 52-week data from the 11-arm Phase 2 study is on track for a readout in late-2024.
&#8220;We&#8217;re seeing a differentiated profile of MariTide and are confident that it will address important unmet medical needs, obesity, obesity-related conditions, and diabetes, the executive said.
The company is looking ahead to complete the Phase-2 study and work along with the Food and Drug Administration to expeditiously move it to the Phase-3 stage. It is also planning to initiate an additional dedicated Phase 2 study, investigating MariTide for the treatment of diabetes in patients with and without obesity. 
Bradner also said the company plans to deliver MariTide in a &#8220;convenient, handheld, patient-friendly auto-injector device with a monthly or even less frequent single-injection administration, assuming eventual approval.&#8221; 
See Also: <a href="https://www.benzinga.com/money/best-biotech-stocks">Best Biotech Stocks</a>
Why It&#8217;s Important: The huge popularity of obesity drug follows the weight-loss revolution that is taking hold. Novo Nordisk&#8217;s diabetes drug Ozempic was approved for obesity under the brand name Wegovy in 2021. These class of drugs mimic the action of the GLP-1 hormone to regulate blood sugar, slow digestion and suppress hunger.
Eli Lilly&#8217;s Zepbound is the second weight-loss drug of this category approved for use. It contains the same active ingredient as Lilly&#8217;s Type 2 diabetes drug Mounjaro.
Both companies benefited from the strong uptake of their respective weight-loss drugs, prompting others to dip their toes into the segment.
Not all have tasted the same degree of success. Pfizer, for one, announced<a href="https://www.benzinga.com/general/biotech/23/12/36041804/this-twice-daily-weight-loss-drug-has-adverse-side-effects-and-pfizer-wants-to-discontinue-it"> the ditching of the development of danuglipron, its oral weight-loss drug candidate,</a> which was then in Phase 3 development.
 MariTide, like, Lilly&#8217;s Zepbound and Novo Nordisk&#8217;s Wegovy, targets the receptors for GLP-1 hormone. While Zepbound increases the activity of GLP-1 as well as GIP receptors, MariTide increases GLP-1 receptor activity, while toning down on the receptor for GIP, Fierce Pharma <a href="https://www.fiercebiotech.com/biotech/amgen-axes-obesity-asset-after-ph-1-results-zooms-maritide#:~:text=Like%20Eli%20Lilly's%20obesity%20drug,act%20on%20the%20GIP%20receptor.">reported.</a>
The stakes are high, with the weight-loss drug market estimated at a mouth-watering $100 billion, Reuters reported.
Amgen shares rose 14.59% to $319, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a> If the after-hours gains hold good, the stock is on track to open at the highest level since early February.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38575293/demand-soars-for-novo-nordisks-weight-loss-drug-wegovy-despite-supply-constraints-and-eli-lilly-">Demand Soars For Novo Nordisk&#8217;s Weight-Loss Drug Wegovy Despite Supply Constraints And Eli Lilly Competition</a>
Photo via Shutterstock

Amgen Stock Adds Good Weight After CEO's Update On Experimental Drug Rivaling Ozempic, Nixing Oral Weight-Loss Candidate

Thursday saw major U.S. indices closing on a positive note, with the Dow Jones Industrial Average climbing 0.85% to reach 38,225.66, while the S&amp;P also showed gains, up 0.9% to 5,064.20. Additionally, the Nasdaq surged 1.5% to finish the day at 15,840.96.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)
Apple&#8217;s stock closed the day with a 2.20% increase at $173.03. The stock&#8217;s intraday high and low were $173.42 and $170.89 respectively, with a 52-week range of $164.08 to $199.62. Apple outperformed muted expectations in its second-quarter results, announcing a massive $110-billion stock buyback program and a slight increase in its quarterly dividend. The <a href="https://www.benzinga.com/news/earnings/24/05/38599545/apple-q2-earnings-beats-muted-forecast-on-services-mac-strength-installed-base-at-fresh-record-cupe">earnings announcement</a> saw the shares rise by about 3.5%.
Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>)
Coinbase&#8217;s stock soared by 8.93% to close at $228.85. The intraday high and low were $232.71 and $210.76 respectively, with a 52-week range of $46.43 to $283.48. The cryptocurrency trading platform reported <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38598804/coinbase-q1-earnings-highlights-revenue-beat-institutional-trading-volume-hits-all-time-hi">first-quarter financial results</a> that beat the Street consensus estimate, with total revenue of $1.64 billion and GAAP EPS of $4.40. The results highlighted an all-time high in institutional trading volume.
See Also: <a href="https://www.benzinga.com/partner/commodities/24/04/38487758/why-gold-prices-are-at-record-highs-and-what-it-means-for-miners?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Gold Prices Are At Record Highs And What It Means For Miners</a>
Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>)
Block&#8217;s stock rose by 5.18% to close at $70.30. The intraday high and low were $70.55 and $67.17 respectively, with a 52-week range of $38.85 to $87.52. The company reported first-quarter financial results that beat the analyst consensus estimate, with <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38599124/block-stock-soars-on-q1-earnings-strategic-bitcoin-investment-details">quarterly sales</a> of $5.957 billion and adjusted earnings of 85 cents per share. The earnings report saw the shares rise.
Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>)
Amgen&#8217;s stock increased by 0.37% to close at $278.39. The intraday high and low were $278.63 and $274.9 respectively, with a 52-week range of $211.71 to $329.72. The company reported first-quarter financial results that beat the analyst consensus estimate, with <a href="https://www.benzinga.com/general/biotech/24/05/38601856/amgen-reports-better-than-expected-q1-results-50m-milestone-payment">quarterly earnings</a> of $3.96 per share and sales of $7.45 billion. The results represent a 21.98% increase in sales from the same period last year.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock saw a slight increase of 0.06% to close at $180.1. The intraday high and low were $184.60 and $176.02 respectively, with a 52-week range of $138.8 to $299.29. The EV giant reportedly <a href="https://www.benzinga.com/news/24/05/38572614/giga-pause-elon-musks-tesla-reportedly-backs-down-on-ambitious-ev-manufacturing-technique-amid-hardc">abandoned its pioneering manufacturing process</a>, indicating a shift in strategy amid falling sales and increasing competition. The report suggests a step back from its ambitious gigacasting plan.
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38570836/bitcoins-historical-data-suggests-a-potential-99-surge-says-crypto-analyst-time-to-buy-the?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Historical Data Suggests A Potential 99% Surge, Says Crypto Analyst: &#8216;Time To Buy The Dip!&#8217;</a>
Photo by Phongphan on Shutterstock

Apple, Coinbase, Block, Amgen, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) reported first-quarter financial results after the closing bell Thursday. Here's a <a href="https://www.benzinga.com/pressreleases/24/05/n38596732/amgen-reports-first-quarter-2024-financial-results">look at the highlights. </a>
The Details: Amgen reported quarterly earnings of $3.96 per share, which beat the analyst consensus estimate of $3.87 by 2.33%. The company said EPS decreased by 1% due to higher operating and interest expenses driven by the Horizon acquisition, partially offset by higher revenues.
The company reported quarterly sales of $7.447 billion, which beat the analyst consensus estimate of $7.436 billion and represents a 21.98% increase over sales of $6.105 billion in the same period last year.
Operating income increased from $2.8 billion to $3.1 billion and the operating margin decreased 5.1 percentage points to 43.2%. Product sales grew 22%, driven by 25% volume growth.
The company also <a href="https://www.benzinga.com/pressreleases/24/05/b38596713/arrowhead-pharmaceuticals-earns-50-million-milestone-from-royalty-pharma">announced </a>Arrowhead Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARWR#NASDAQ">ARWR</a>) received a $50-million milestone payment from Royalty Pharma Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>), triggered after the completion of enrollment of the Phase 3 OCEAN(a) &#8211; Outcomes Trial of olpasiran, which being conducted by Amgen.<a href="https://www.benzinga.com/quote/amgn" target="_blank" rel="noreferrer noopener"></a>
&#8220;With many of our innovative products delivering strong growth and promising new medicines advancing through our pipeline, we are excited about delivering attractive long-term growth,&#8221; said Robert A. Bradway, CEO of Amgen.
Outlook: Amgen sees full-year 2024 adjusted earnings of between $19 and $20.20 per share versus the $19.48 Street estimate. 
Related News: <a href="https://www.benzinga.com/news/24/05/38595976/rivian-automotive-receives-827m-incentive-package-whats-going-on-with-rivian-stock">Rivian Automotive Receives $827M Incentive Package: What&#8217;s Going On With Rivian Stock?</a>
AMGN Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Amgen shares are up 11.7% after-hours at $311 at the time of publication Thursday.
Image: Phoenix Locklear from Pixabay.

ARWR

RPRX

Amgen Reports Better-Than-Expected Q1 Results, $50M Milestone Payment

Amgen shares are trading higher after the company reported better-than-expected Q1 financial results. Also, the company announced a $50 million milestone payment from Royalty Pharma.

Arrowhead Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARWR#NASDAQ">ARWR</a>) today announced a $50 million milestone payment was received from Royalty Pharma plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>). This milestone was triggered after the completion of enrollment of the Phase 3 OCEAN(a) - Outcomes Trial of olpasiran, being conducted by Amgen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>). Pursuant to its 2016 agreement with Amgen and 2022 agreement with Royalty Pharma, Arrowhead is further eligible to receive up to an additional $375 million from Amgen and $110 million from Royalty Pharma in aggregate development, regulatory, and sales milestone payments associated with olpasiran.
"The rapid enrollment of the OCEAN(a) - Outcomes Trial demonstrates the strong interest in olpasiran, developed using Arrowhead's proprietary TRiMTM technology and licensed to Amgen in 2016. Partnering is an important part of our strategy and we are pleased with all the care and work undertaken to bring this potentially important new therapy closer to patients," said Christopher Anzalone, Ph.D., Arrowhead's president and CEO. "Our pipeline of wholly owned or partnered TRiMTM-enabled candidates now includes three programs in Phase 3 - olpasiran, fazirsiran, and plozasiran. Importantly, our lead wholly owned candidate plozasiran, a first-in-class investigational RNA interference (RNAi) therapeutic designed to reduce production of Apolipoprotein C-III (APOC3), is on schedule to complete its first pivotal Phase 3 study this quarter, with a topline readout soon after."
Olpasiran is a small interfering RNA (siRNA) originally developed by Arrowhead using its proprietary Targeted RNAi Molecule (TRiMTM) platform. It is designed to lower levels of lipoprotein(a) (Lp(a)), a genetically determined risk factor for cardiovascular disease. The primary objective of the Phase 3 OCEAN(a) - Outcomes Trial is to compare the effect of treatment with olpasiran, to placebo, on the risk for coronary heart disease death, myocardial infarction, or urgent coronary revascularization in participants with atherosclerotic cardiovascular disease and elevated lipoprotein(a).

Contracts

Arrowhead Pharmaceuticals Earns $50M Milestone From Royalty Pharma, Pursuant To Its 2016 Agreement With Amgen And 2022 Agreement With Royalty Pharma, Arrowhead Is Further Eligible To Receive Up To An Additional $375M From Amgen And $110M From Royalty Pharma In Aggregate Development, Regulatory, And Sales Milestone Payments Associated With Olpasiran

Amgen Sees FY24 Adj. EPS $ 19.00-$20.20 vs $19.48 Est.

Analysts have been eager to weigh in on the Healthcare sector with new ratings on Day One Biopharmaceuticals (DAWN – Research Report), Amgen (AMGN ...

Analysts Offer Insights on Healthcare Companies: Day One Biopharmaceuticals (DAWN), Amgen (AMGN) and Omnicell (OMCL)

Amgen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) surged in pre-market trading following updates about its weight-loss drug and an updated forecast. The biopharmaceutical compan...

AMGN Earnings: Amgen Surges After Raised Forecast, Weight Loss Drug Update

Biggest stock movers today: WOW, AAPL, SQ, and more

Amgen stock rallies 13% on GLP-1 weight-loss drug update

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Amgen (NASDAQ:<a href="https://investorplace.com/stock-quotes/amgn-stock-quote/">AMGN</a>) stock is trending and up about 12% as of this writing. The shares are rallying after the drugmaker&rsquo;s CEO said he was encouraged by preliminary data on Amgen&rsquo;s weight-loss drug.



These comments also sparked a decline in shares of Novo Nordisk (NYSE:<a href="https://investorplace.com/stock-quotes/nvo-stock-quote/">NVO</a>) stock. Novo Nordisk has developed multiple weight-loss drugs.



<h2>Amgen Raises Expectations for Weight-Loss Drug</h2>



Discussing <a href="https://www.marketwatch.com/story/amgen-expects-data-from-weight-loss-drug-trial-later-this-year-97de1c09">interim data</a> from a Phase 2 trial of the company&rsquo;s weight-loss drug, Amgen CEO Robert Bradway&nbsp;said &ldquo;we are very encouraged with results that we&rsquo;ve seen thus far.&rdquo; The firm did not release any of the results.



Bradway added that Amgen is &ldquo;confident&rdquo; that the injectable treatment, called MariTide, will provide benefits to patients. The CEO also noted that Amgen is rapidly getting ready for a Phase 3 trial of MariTide. The firm expects to <a href="https://www.marketwatch.com/story/amgen-expects-data-from-weight-loss-drug-trial-later-this-year-97de1c09">release final Phase 2 data</a> later this year.



An injectable drug made to be administered by patients themselves, MariTide will likely be taken once a month at most. Like many other weight-loss drugs on the market, MariTide suppresses appetite by influencing a gut hormone receptor known as GLP-1.



Based on some data, scientists believe MariTide <a href="https://www.cnbc.com/2024/05/02/amgen-scraps-experimental-weight-loss-pill-moves-forward-with-injection.html">could enable patients</a> to stay thinner even after discontinuing the treatment. That may be a differentiating factor for the treatment.



<h2>The Price Action of Novo Nordisk and Amgen</h2>



In early trading today, NVO stock is down about 1% after retreating 4% yesterday. Novo has <a href="https://www.biopharmadive.com/news/novo-nordisk-obesity-pill-amycretin-wegovy/709608/#:~:text=The%20drug%2C%20called%20amycretin%2C%20is,taken%20orally%2C%20not%20via%20injections.">developed</a> successful weight-loss drugs like Ozempic and Wegovy. It&rsquo;s also working on bringing a new weight-loss treatment called amycretin to market.



As of this writing, shares of AMGN stock are up 15% for the last five trading days and up 6% so far this year.



On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>
<div>Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel&rsquo;s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been SMCI, INTC, and MGM. You can reach him on Stocktwits at @larryramer.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/05/amgn-stock-alert-is-amgen-the-next-hot-weight-loss-drug-company/">AMGN Stock Alert: Is Amgen the Next Hot Weight-Loss Drug Company?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

AMGN Stock Alert: Is Amgen the Next Hot Weight-Loss Drug Company?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
WideOpenWest&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/wow-stock-quote/">WOW</a>) stock is rising higher on Friday after the technology company received <a href="https://finance.yahoo.com/news/wideopenwest-confirms-receipt-unsolicited-non-120000731.html">an unsolicited takeover offer</a> from DigitalBridge Investments, LLC and Crestview entities.



WideOpenWest&nbsp;confirms that it has received a takeover offer from DigitalBridge Investments that would see the firm acquire all outstanding shares of WOW stock. The firm is willing to pay $4.80 per share for WOW shares.



DigitalBridge Investments intends to pay for WideOpenWest&nbsp;shares with cash. The company&rsquo;s offer represents a 26.6% premium over the closing price of $3.79 per share on Thursday.



WideOpenWest&nbsp;says that its Board of Directors will establish a special committee made of independent directors to evaluate the unsolicited non-binding preliminary proposal. The company says WOW stockholders don&rsquo;t need to take any action at this time.



<h2>What This Means for WOW Stock</h2>



The takeover offer from DigitalBridge Investments has WOW investors excited on Friday. That brings with it heavy trading of the company&rsquo;s shares. This has more than 3 million units changing hands as of this writing. That&rsquo;s a major leap over its daily average trading volume of about 602,000 shares.



WOW stock is up 29.8% as of Friday morning.



There are more stock market stories worth reading about today!



We have a collection of these stories ready to go for traders on Friday! A few examples include what&rsquo;s happening with Palantir&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/pltr-stock-quote/">PLTR</a>), Apple&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/aapl-stock-quote/">AAPL</a>) and Amgen&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/amgn-stock-quote/">AMGN</a>) stock. All of this news is ready to go at the links below!



<h2>More Stock Market News for Friday</h2>



<ul><li><a href="https://investorplace.com/2024/05/jefferies-just-raised-its-price-target-on-palantir-pltr-stock-2/">Jefferies Just Raised Its Price Target on Palantir (PLTR) Stock</a></li>



<li><a href="https://investorplace.com/2024/05/aapl-shares-pop-on-110-billion-apple-stock-buyback-plans/">AAPL Shares Pop on $110 Billion Apple Stock Buyback Plans</a></li>



<li><a href="https://investorplace.com/2024/05/amgn-stock-alert-is-amgen-the-next-hot-weight-loss-drug-company/">AMGN Stock Alert: Is Amgen the Next Hot Weight-Loss Drug Company?</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/05/why-is-wideopenwest-wow-stock-up-30-today/">Why Is WideOpenWest (WOW) Stock Up 30% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is WideOpenWest (WOW) Stock Up 30% Today?

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Cardinal Health (CAH – Research Report), Kura Onco...

Analysts Offer Insights on Healthcare Companies: Cardinal Health (CAH), Kura Oncology (KURA) and Amgen (AMGN)

William Blair, Barclays upgrade Amgen following GLP-1 drug update

Amgen's Q1 Earnings: Solid All Court Progress, Major Weight Loss Catalyst Pending

The Dow Jones Industrial Average gained nearly 1.2% on Friday after a broad miss from US Nonfarm Payrolls) and other key labor data revealed a steep weakening in the US domestic economy, sparking increased bets of rate cuts from the Fed.

Dow Jones Industrial Average Gains 450 Points As Investors Up Rate Cut Bets After Softer NFP

DAWN

GPCR

KURA

OMCL

PLTR

RHHBY

TERN

VKTX

Press Releases

AMGEN OPENS STATE-OF-THE-ART BIOMANUFACTURING SITE IN CENTRAL OHIO

AMGEN TO PRESENT AT THE 44TH ANNUAL TD COWEN HEALTH CARE CONFERENCE

Dividends

AMGEN ANNOUNCES 2024 SECOND QUARTER DIVIDEND

AMGEN PRESENTS NEW RESEARCH ON OTEZLA® (APREMILAST) AT AAD 2024

AMGEN TO PRESENT TEZSPIRE® PHASE 2A COPD DATA AT ATS 2024

AMGEN TO SUBMIT TEPROTUMUMAB MARKETING AUTHORIZATION APPLICATION TO THE EUROPEAN MEDICINES AGENCY

AMGEN ANNOUNCES WEBCAST OF 2024 FIRST QUARTER FINANCIAL RESULTS

AMGEN HIGHLIGHTS NEW COPD, ASTHMA AND VASCULITIS RESEARCH AT ATS 2024

Arrowhead Pharmaceuticals Earns $50 Million Milestone from Royalty Pharma

AMGEN REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS

AbbVie

Alnylam Pharmaceuticals, Inc. - Common Stock

Alnylam Pharmaceuticals

argenx

Ascendis Pharma A/S - American Depositary Shares

Ascendis Pharma

BeiGene, Ltd. - American Depositary Shares

BeiGene

Biogen

BioMarin Pharmaceutical Inc. - Common Stock

Biomarin Pharmaceutical

BioNTech

Cerevel Therapeutics Holdings, Inc. - Common Stock

Cerevel Therapeutics Hldg

Cytokinetics, Incorporated - Common Stock

Cytokinetics

Exact Sciences Corporation - Common Stock

Exact Sciences

Gilead Sciences

Genmab

Incyte

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Amgen Stock (NASDAQ:AMGN), Short Interest Report

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