AstraZeneca Stock (NASDAQ:AZN), Trade Ideas

AstraZeneca

A merger between Astra of Sweden and Zeneca Group of the United Kingdom formed AstraZeneca in 1999. The firm sells branded drugs across several major therapeutic classes, including gastrointestinal, diabetes, cardiovascular, respiratory, cancer, immunology and rare diseases. The majority of sales come from international markets with the United States representing close to one third of its revenue.

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Is &#34;Bad News&#34; Still &#34;Good News&#34; for the Market?

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Why Caterpillar Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Thursday&#39;s Mid-Day Session

AstraZeneca PLC - American Depositary Shares

AstraZeneca PLC

AZN Capital Corp

As of April 26, 2024, four stocks in the health care sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.  
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Fusion Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUSN#NASDAQ">FUSN</a>)</h3>
<ul>
<li>AstraZeneca, through a subsidiary, will acquire all of Fusion&#8217;s outstanding shares for a price of $21.00 per share in cash at closing plus a non-transferable CVR representing the contingent right to receive $3.00/share in cash payable upon the achievement of a specified regulatory milestone, pursuant and subject to the terms and conditions of a contingent value rights agreement. The company's stock gained around 408% over the past six months and has a <a href="https://www.benzinga.com/quote/FUSN">52-week high of $21.55</a>.</li>
<li>RSI Value: 78.74&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>FUSN Price Action: Shares of Fusion Pharmaceuticals closed at $21.40 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">AstraZeneca PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>)</h3>
<ul>
<li>AstraZeneca reported first-quarter sales of $12.68 billion, up 17% year over year (+19% at constant currency), slightly below the consensus of $11.83 billion. The company's stock gained around 10% over the past five days and <a href="https://www.benzinga.com/quote/AZN">has a 52-week high</a> of $75.81.</li>
<li>RSI Value: 82.50</li>
<li>AZN Price Action: Shares of AstraZeneca gained 5.4% to close at $75.03 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>)</h3>
<ul>
<li>On April 24, Boston Scientific reported better than expected first-quarter earnings and issued guidance. The company's stock gained around 8% over the past five days and has a <a href="https://www.benzinga.com/quote/BSX">52-week high</a> of $74.39.</li>
<li>RSI Value: 76.34</li>
<li>BSX Price Action: Shares of American Express gained 0.5% to close at $73.26 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Elevance Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>)</h3>
<ul>
<li>On April 18, Elevance Health reported first-quarter revenues of $42.3 billion, up 0.9% year over year, marginally missing the consensus of $42.6 billion. "First quarter results reflect disciplined execution of our strategic initiatives during a dynamic time for our industry," CEO Gail Boudreaux said. "We are making significant progress expanding Carelon's capabilities, scaling our flywheel for enterprise growth, and delivering results for all stakeholders." The company's stock jumped around 4% over the past month and has a 52-week high is $542.07.</li>
<li>RSI Value: 70.18</li>
<li>ELV Price Action: Shares of Elevance Health gained 1.1% to close at $539.68 on Thursday.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/earnings/24/04/38452338/microsoft-alphabet-and-3-stocks-to-watch-heading-into-friday">Microsoft, Alphabet And 3 Stocks To Watch Heading Into Friday</a>

Fusion Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUSN#NASDAQ">FUSN</a>), a clinical-stage oncology company focused on developing next-generation radioconjucates (RCs) as precision medicines, today announced that it has filed and is in the process of mailing the management information circular and proxy statement (the "Circular") and related materials for the special meeting (the "Meeting") of Fusion's shareholders (the "Shareholders") to approve the previously announced arrangement with AstraZeneca plc ("AstraZeneca") under the Canada Business Corporations Act (the "Arrangement").
Under the terms of the Arrangement, AstraZeneca, through a subsidiary, will acquire all of Fusion's outstanding shares for a price of US$21.00 per share in cash at closing plus a non-transferable contingent value right (CVR) representing the contingent right to receive US$3.00 per share in cash payable upon the achievement of a specified regulatory milestone, pursuant and subject to the terms and conditions of a contingent value rights agreement.
The Arrangement is subject to approval by the affirmative vote of (i) not less than 66⅔% of the votes cast by the Shareholders, present in person or represented by proxy at the Meeting, each being entitled to one vote per share, and (ii) a majority of the votes cast by the Shareholders&nbsp;present in person or represented by proxy at the Meeting, each being entitled to one vote per share after excluding the votes of those persons whose votes are required to be excluded in accordance with Multilateral Instrument 61-101 of the Canadian Securities Administrators (the "CSA").
Interim Order
Fusion also announced today that the Ontario Superior Court of Justice (Commercial List) (the "Court") has issued an interim order in connection with the Arrangement authorizing various matters, including the holding of the Meeting and the mailing of the Circular.

AstraZeneca, Through A Subsidiary, Will Acquire All Of Fusion's Outstanding Shares For A Price Of $21.00 Per Share In Cash At Closing Plus A Non-Transferable CVR Representing The Contingent Right To Receive $3.00/Share In Cash Payable Upon The Achievement Of A Specified Regulatory Milestone, Pursuant And Subject To The Terms And Conditions Of A Contingent Value Rights Agreement

Thursday, April 25th, 2024 
Pre-market futures are plummeting at this hour. We began the early trading session down anyway, based on earnings disappointments from Meta (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) and IBM (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ibm#NYSE">IBM</a>) after yesterday&#39;s close. This morning, Dow component Caterpillar (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cat#NYSE">CAT</a>) is down more than -6% on its Q1 revenue miss. Beyond Q1 earnings results, we also have lots of economic data, much of which came up short of expectations. 
The first print on Q1 Gross Domestic Production came in well below estimates. Headline +1.6% missed the 2.2% anticipated, and less than half of Q4 2023&#39;s final +3.4%. The last time we saw GDP this low was back in Q2 of 2022, when we saw a negative -0.6%. Consumption came in half a percentage-point below expectations: +2.5% versus +3.0%. The Price Index (the full PCE report is out tomorrow morning), meanwhile, was higher: +3.1% versus +3.0% &mdash; the highest since Q3 &#39;23&#39;s +3.3% and nearly double the +1.6% the previous quarter. Can you say &quot;stagflation&quot;? 
Initial Jobless Claims, meanwhile, stayed uncommonly well-behaved: 207K, below the unrevised 212K from the prior week and the 215K expected. A year ago, new jobless claims were grappling in the 240K range, on the way to a multi-year high 265K last summer. Since the start of the year, we&#39;ve been at or below 200K three times. This is consistent with an historically robust labor environment &mdash; no doubt influenced by a large influx of immigrants to the U.S. 
Continuing Claims also stayed low. Headline 1.78 million is the lowest weekly print since mid-January, with the previous week&#39;s 1.796 million revised down from 1.812 million, which was itself historically low. Analysts had been keeping 2 million longer-term jobless claims on their radar, but it&#39;s gone for naught: the last time we were even north of 1.9 million was back in November of last year. A narrow range around 1.8 million has been our norm for the past three months. 
Advanced Trade Balance in Goods for March came in slightly below expectations, to -$91.8 billion. Advanced Retail Inventories grew only +0.3%, 20 basis points (bps) lower than expectations. Advanced Wholesale Inventories swung to a negative -0.4%, the lowest mark we&#39;ve seen since June of last year. Because these are advanced numbers, they are necessarily speculative. What they speculate, however, is a somewhat weakening economy. 
Isn&#39;t this supposed to be good news? If we&#39;re looking for interest rates to come down from their draconian 5.25-5.50%, where they&#39;ve been for the past nine months, isn&#39;t the lessening of data points across the broader economic spectrum a necessary component to bringing these to a more manageable level? The pre-market doesn&#39;t think so: the Dow is -421 points at this hour, the S&amp;P 500 is -58 and the Nasdaq is -253 points. Aside from bargain-hunting traders, this big comedown is something the Fed is probably less than displeased to see. 
Q1 earnings results are plentiful this morning. To name just a few, Caterpillar beat on earnings but missed on the top line, as mentioned above. Airlines American (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aal#NASDAQ">AAL</a>) and Southwest (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/luv#NYSE">LUV</a>) both posted wider-than-expected losses on slightly inferior revenue totals, though only LUV is down big. For some good news, AstraZeneca (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/azn#NASDAQ">AZN</a>) easily surpassed expectations on both top and bottom lines and is up +5% in today&#39;s pre-market. After today&#39;s close, we&#39;ll hear from Microsoft (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>), Intel (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intc#NASDAQ">INTC</a>), Alphabet (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) and Snap (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snap#NYSE">SNAP</a>), among others. 
<a href="https://www.zacks.com/stock/news/2262436/is-bad-news-still-good-news-for-the-market?cid=CS-BENZ-FT-ahead_of_wall_street-2262436">To read this article on Zacks.com click here.</a>

Is "Bad News" Still "Good News" for the Market?

Shares of Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) fell sharply during Thursday's session after the company reported better-than-expected first-quarter EPS but missed <a href="https://www.benzinga.com/news/earnings/24/04/38433251/why-is-equipment-giant-caterpillar-stock-plunging-today">revenue estimates</a>.
Caterpillar reported a first-quarter fiscal 2024 revenue of $15.8 billion, a slight decrease of 0.4% year-over-year, missing the consensus of $16.216 billion. CAT's adjusted earnings of $5.60 per share, compared to $4.91 a year ago, topped the consensus of $5.14, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Caterpillar shares dipped 6.6% to $339.37 on Thursday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Barfresh Food Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRFH#NASDAQ">BRFH</a>) surged 87.2% to $2.05.</li>
<li>Safe &amp; Green Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGBX#NASDAQ">SGBX</a>) shares jumped 80% to $0.26. Safe &amp; Green Holdings said it has entered into an agreement to produce 4 modular electrical distribution centers as part of a multi-unit order for a client serving the big box retailer market.</li>
<li>Processa Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCSA#NASDAQ">PCSA</a>) shares gained 37.2% to $2.2250 after HC Wainwright &amp; Co initiated coverage on the stock with a Buy rating and announced an $8 price target.</li>
<li>Aclarion, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACON#NASDAQ">ACON</a>) rose 35% to $0.3899.</li>
<li>reAlpha Tech Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIRE#NASDAQ">AIRE</a>) gained 28.5% to $1.4906 after jumping 93% on Wednesday.</li>
<li>OptiNose, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPTN#NASDAQ">OPTN</a>) rose 27.5% to $1.1806 after the company issued corporate updates, expecting to produce positive income from operations for the full year 2025.</li>
<li>Intelligent Living Application Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILAG#NASDAQ">ILAG</a>) shares climbed 21.3% to $0.6550 after gaining over 12% on Wednesday.</li>
<li>P.A.M. Transportation Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTSI#NASDAQ">PTSI</a>) surged 19.8% to $17.42 after the company announced a self-tender offer to purchase up to 550,000 shares at a price not less than $15.50-$18.00 per share.</li>
<li>SuperCom Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPCB#NASDAQ">SPCB</a>) climbed 19% to $0.2663. SuperCom received over $5 million in new orders from European Governments.</li>
<li>Ultralife Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULBI#NASDAQ">ULBI</a>) climbed 16.6% to $10.19 after the company reported better-than-expected quarterly financial results.</li>
<li>Impinj, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PI#NASDAQ">PI</a>) gained 16% to $140.21 after reporting better-than-expected first-quarter financial results.</li>
<li>Cidara Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDTX#NASDAQ">CDTX</a>) gained 13.9% to $14.00 after the company announced the divestiture of rezafungin to Mundipharma, reacquired global development and commercial rights to CD388 and announced $240 million in private placement financing.</li>
<li>Sleep Number Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNBR#NASDAQ">SNBR</a>) surged 11.5% to $15.13 following first-quarter results.</li>
<li>Predictive Oncology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POAI#NASDAQ">POAI</a>) rose 10.7% to $1.49. Fujifilm and Predictive Oncology announced collaboration to reduce protein interference in bacterial endotoxin detection testing of biopharmaceuticals.</li>
<li>Strategic Education, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRA#NASDAQ">STRA</a>) jumped 10% to $110.78 following upbeat results.</li>
<li>Tyler Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) gained 9.6% to $459.39 after the company reported better-than-expected first-quarter EPS and sales. Additionally, the company provided upbeat guidance for FY24.</li>
<li>TransUnion (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRU#NYSE">TRU</a>) climbed 8.9% to $74.83 after the company reported better-than-expected first-quarter financial results. The company also provided upbeat guidance for second quarter</li>
<li>AstraZeneca PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NYSE">AZN</a>) rose 5.8% to $75.35 following a first-quarter revenue beat.</li>
<li>Teradyne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TER#NYSE">TER</a>) gained 5% to $105.71 after the company posted upbeat first-quarter results and issued strong second-quarter forecast.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>E-Home Household Service Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EJH#NASDAQ">EJH</a>) shares dipped 75% to $0.7192.</li>
<li>Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSSE#NASDAQ">CSSE</a>) fell 39.3% to $0.2581. Chicken Soup For The Soul Entertainment received delinquency letter from the Nasdaq.</li>
<li>Hanryu Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRYU#NASDAQ">HRYU</a>) shares dropped 37% to $0.3330. Hanryu Holdings received delinquency notice from the Nasdaq for late annual report filing.</li>
<li>ATN International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATNI#NASDAQ">ATNI</a>) fell 29% to $20.39 as the company posted weak quarterly sales and slashed FY24 revenue forecast.</li>
<li>Brand Engagement Network, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNAI#NASDAQ">BNAI</a>) fell 27.3% to $2.71.</li>
<li>Huize Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUIZ#NASDAQ">HUIZ</a>) shares dipped 26% to $0.39.</li>
<li>Cyclacel Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYCC#NASDAQ">CYCC</a>) fell 24% to $1.7283.</li>
<li>Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) dipped 23% to $4.4299 after the company mixed first-quarter financial results.</li>
<li>Organogenesis Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORGO#NASDAQ">ORGO</a>) fell 17.8% to $2.44</li>
<li>Orion Group Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORN#NYSE">ORN</a>) fell 17% to $6.60 following weak quarterly sales.</li>
<li>JAKKS Pacific, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAKK#NASDAQ">JAKK</a>) fell 16.4% to $19.58 following a wider-than-expected quarterly loss.</li>
<li>Zapp Electric Vehicles Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZAPP#NASDAQ">ZAPP</a>) fell 16.4% to $3.3001 after dipping 15% on Wednesday.</li>
<li>Brookline Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRKL#NASDAQ">BRKL</a>) dipped 13.8% to $8.23 following downbeat quarterly results.</li>
<li>Ethan Allen Interiors Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETD#NYSE">ETD</a>) fell 13.5% to $28.91 following downbeat quarterly results.</li>
<li>MarineMax, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HZO#NYSE">HZO</a>) shares fell 13.5% to $23.50 after the company posted downbeat quarterly results and slashed FY24 EPS guidance.</li>
<li>ESGL Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESGL#NASDAQ">ESGL</a>) shares fell 12.9% to $0.5499.</li>
<li>Harley-Davidson, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOG#NYSE">HOG</a>) declined 12.7% to $34.45 following first-quarter results.</li>
<li>Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares declined 11.3% to $437.50 after reporting first-quarter results.</li>
<li>Biophytis S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPTS#NASDAQ">BPTS</a>) fell 9.7% to $8.57. Biophytis announced transfer of ADSs to OTC Market.</li>
<li>International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) fell 8.6% to $168.24 after the company reported mixed first-quarter financial results. The company also announced it will acquire HashiCorp.</li>
<li>Textron Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>) shares fell 12% to $82.78 following weaker-than-expected quarterly earnings.</li>
<li>FirstCash Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCFS#NASDAQ">FCFS</a>) dipped 10.6% to $118.00 following weak quarterly sales.</li>
<li>Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) fell 9.2% to $95.98 following first-quarter results.</li>
<li>BioMarin Pharmaceutical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) dipped 9% to $83.05 after the company reported first-quarter financial results.</li>
<li>Reliance, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) fell 8.8% to $285.73 after the company reported worse-than-expected first-quarter financial results.</li>
<li>AZZ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) dipped 8.6% to $75.28. AZZ announced a proposed public offering of 4 million shares of common stock.</li>
<li>Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) shares declined 7.7% to $27.03 after the company reported worse-than-expected first-quarter financial results.</li>
<li>Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) fell 6.8% to $45.50 following first-quarter earnings.</li>
<li>ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) shares fell 5.6% to $704.40 after the company reported first-quarter financial results.</li>
<li>Graco Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GGG#NYSE">GGG</a>) shares slipped 5.2% to $84.67 following downbeat first-quarter results.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/04/38430578/top-3-financial-stocks-that-could-sink-your-portfolio-this-quarter">Top 3 Financial Stocks That Could Sink Your Portfolio This Quarter</a>

Why Caterpillar Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Thursday's Mid-Day Session

Wall Street suffers a double blow in Thursday&#8217;s session, as softer-than-expected revenue forecasts from Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) are being compounded by weaker-than-expected economic growth and higher inflationary pressures last quarter, raising fears of a stagflation phase <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38434513/us-growth-slows-in-q1-yet-inflation-acceleration-signals-stagflation-the-worst-poss">for the U.S. economy.</a>
The U.S. economy grew by a 1.6% annualized pace in Q1 2024, slowing down sharply from the 3.4% pace in the previous quarter and missing expectations of a growth rate of 2.5%. Inflation, as measured by the Personal Consumption Expenditure (PCE) price index, substantially accelerated from a 1.8% to 3.4% annualized pace, with the underlying measure of core PCE escalating to 3.7%. 
The elite group of Magnificent Seven stocks <a href="https://www.benzinga.com/markets/equities/24/04/38436183/magnificent-7-tumble-wipe-out-300-billion-on-metas-weak-guidance-q1-stagflation-woes">wiped out nearly $300 billion in market value</a> earlier this morning, prior to marginally curbing losses by 1 p.m. in New York. 
The S&amp;P 500 and the tech-heavy Nasdaq 100 dropped by 1% and 1.2% respectively, while blue chips in the Dow Jones Industrial Average slightly underperformed, declining by 1.4%. 
Meta Platforms experienced a double-digit decline, pulling down both the tech index and the communication services sector, which saw its worst day since late October 2023.
Only a few industries managed to notch gains, with gold miners in the spotlight following stronger-than-expected quarterly results by Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>). The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) rose 2.7%. 
Gold also saw an increase, rising by 0.7%, outperforming both stocks and bonds amid growing signals of stagflation from the economy. Crude oil inched lower, with the West Texas Intermediate (WTI) light crude down 0.4% to $82 a barrel. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) held steady around $64,500. 
In the bond market, Treasury yields surged, with the policy-sensitive 2-year yields rising to 5% as traders further dialed back expectations of Fed rate cuts. 
<h3 class="wp-block-heading">Thursday&#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>S&amp;P 500</td>
<td>5,026.87</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,975.61</td>
<td>-1.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,333.65</td>
<td>-1.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>37,923.49</td>
<td>-1.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. EDT </figcaption></figure>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul>
<li>Meta Platforms tanked 11% – its worst performance since October 2022 – despite beating both earnings and revenue forecasts last quarter, as weaker-than-expected guidance disappointed traders.</li>
<li>Other companies reacting to earnings were International Business Machines Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NASDAQ">IBM</a>) down 9%, Service Now Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) down 5%, Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) up 2.9%, Chipotle Mexican Grill Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) up 5.4%, Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) down 1.6%, United Rentals Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URI#NYSE">URI</a>) up 5.5%, with all of them reporting Wednesday after the close. </li>
<li>Reporting Thursday in the pre-market, Merck &amp; Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) up 2.5%, Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) down 6.6%, Comcast Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) down 6%, Union Pacific Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) up 4.3%, S&amp;P Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) flat, Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), down 1.4%, Southern Copper Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>) up 1.7%, Altria Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>) up 1%, Valero Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>) down 0.5%, Carrier Global Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) up 8% and Astrazeneca plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) up 5.7%. </li>
<li>Notable names reporting after the close include Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) , Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>), Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>), Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>), T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) and Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>).</li>
</ul>
Read now: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38438240/feds-inflation-report-looms-this-friday-what-makes-it-so-crucial-for-markets">Fed&#8217;s Inflation Report Looms This Friday: What Makes It So Crucial For Markets?</a>
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Stocks Drop, Tech Tumbles With Meta's Weak Outlook, Q1 Stagflation Fears; Gold Miners Advance: What's Driving Markets Thursday?

U.S. stocks were lower, with the Dow Jones falling over 600 points on Thursday.
Shares of Sanofi SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) rose sharply during Thursday's session following better-than-expected <a href="https://www.benzinga.com/general/biotech/24/04/38432249/drugmaker-sanofis-strong-dupixent-and-beyfortus-vaccine-sales-propel-q1-earnings">first-quarter earnings</a>.
Sanofi reported first-quarter operating income of 2.8 billion euros, down 14.7% Y/Y and 4.2% on constant currency. The French drugmaker reported adjusted EPS of 97 cents (1.78 euros), beating the consensus estimate of 94 cents, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Sanofi shares climbed 5.5% to $49.15 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>P.A.M. Transportation Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTSI#NASDAQ">PTSI</a>) jumped 19.8% to $17.42 after the company announced a self-tender offer to purchase up to 550,000 shares at a price not less than $15.50-$18.00 per share.</li>
<li>Ultralife Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULBI#NASDAQ">ULBI</a>) shares jumped 16.6% to $10.19 after the company reported better-than-expected quarterly financial results.</li>
<li>Impinj, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PI#NASDAQ">PI</a>) rose 16% to $140.21 after reporting better-than-expected first-quarter financial results.</li>
<li>Sleep Number Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNBR#NASDAQ">SNBR</a>) climbed 11.5% to $15.13 following first-quarter results.</li>
<li>Strategic Education, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRA#NASDAQ">STRA</a>) shares gained 10% to $110.78 following upbeat results.</li>
<li>Tyler Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) rose 9.6% to $459.39 after the company reported better-than-expected first-quarter EPS and sales. Additionally, the company provided upbeat guidance for FY24.</li>
<li>TransUnion (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRU#NYSE">TRU</a>) surged 8.9% to $74.83 after the company reported better-than-expected first-quarter financial results. The company also provided upbeat guidance for second quarter.</li>
<li>Community Health Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>) rose 7.9% to $3.27 after the company reported better-than-expected first-quarter financial results.</li>
<li>Kirby Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEX#NYSE">KEX</a>) shares gained 7.6% to $108.69 following better-than-expected first-quarter results.</li>
<li>Core Laboratories Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) climbed 7.6% to $17.78 following strong earnings.</li>
<li>Deutsche Bank Aktiengesellschaft (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>) rose 6.8% to $17.61 after the company reported better-than-expected first-quarter financial results.</li>
<li>Sonic Automotive, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAH#NYSE">SAH</a>) shares gained 6.7% to $54.57 following upbeat earnings.</li>
<li>Carrier Global Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) surged 6.3% to $58.21 following first-quarter earnings.</li>
<li>AstraZeneca PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NYSE">AZN</a>) climbed 5.8% to $75.35 following a first-quarter revenue beat.</li>
<li>Teradyne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TER#NYSE">TER</a>) shares rose 5% to $105.71 after the company posted upbeat first-quarter results and issued strong second-quarter forecast.</li>
<li>Union Pacific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) shares gained 4.4% to $242.28 after the company reported better-than-expected first-quarter results.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38428592/how-to-earn-500-a-month-from-t-mobile-us-stock-ahead-of-q1-earnings-report">How To Earn $500 A Month From T-Mobile US Stock Ahead Of Q1 Earnings Report</a>

Intraday Update

Sanofi Reports Strong Earnings, Joins Kirby, Sonic Automotive, Union Pacific And Other Big Stocks Moving Higher On Thursday

Thursday,&nbsp;AstraZeneca Plc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>)&nbsp;<a target="_blank" href="https://www.astrazeneca.com/media-centre/press-releases/2024/q1-2024-results.html" rel="noreferrer noopener">reported</a>&nbsp;first-quarter sales of $12.68 billion, up 17% year over year (+19% at constant currency), slightly below the consensus of $11.83 billion.&nbsp;
This was fueled by an 18% increase in Product Sales and continued growth in Alliance Revenue from partnered medicines.
The company&#8217;s adjusted EPADS&nbsp;reached $1.03, missing the consensus of $1.22.
Also&nbsp;Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38201849/astrazeneca-hikes-annual-dividend-by-7-just-before-vote-on-its-ceos-pay-package-boost" rel="noreferrer noopener">AstraZeneca Hikes Annual Dividend By 7% Just Before Vote On Its CEO&#8217;s Pay Package Boost</a>.
R&amp;D expenses rose about 18% to $2.7 billion, while sales, general, and administration costs were up 13% on higher marketing spend for new drug launches.
AstraZeneca&#8217;s top business, oncology, delivered a 26% jump in first-quarter sales to $5.12 billion.
<ul>
<li>Top-selling cancer drugs were Tagrisso and Imfinzi, which generated $1.6 billion and $1.11 billion, up 12% and 29%, respectively.</li>
</ul>
Cardiovascular, Renal, and Metabolism (CVRM) sales increased 20% (up 23 at CER)% to&nbsp;$3.1 billion.
<ul>
<li>Farxiga sales were up 43% (45% at CER) with continued demand growth and the launch of an authorized generic in the U.S., Lokelma was up 16% (19% at CER), roxadustat up 24% (28% at CER), Brilinta decreased 3% (1% at CER).</li>
</ul>
R&amp;I Respiratory &amp; Immunology sales increased 15% (17% CER).
<ul>
<li>Continued strong growth from Fasenra up 6% (6% CER), Breztri up 52% (54% CER).&nbsp;</li>
<li>Saphnelo sales were up 94% (95% CER), and Tezspire was up &gt;2x (&gt;2x CER). Symbicort was up 12% (14% CER).</li>
</ul>
Rare Disease drug sales increased by 12% (+16% at CER) to&nbsp;$2.1 billion.
<ul>
<li>&nbsp;Ultomiris revenues were up 32% (34% at CER), partially offset by a decline in Soliris of 11% (8% at CER)</li>
<li>Strensiq is up 20% (21% at CER), and Koselugo is up 68% (82% at CER), reflecting strong patient demand and tender market order timing.</li>
</ul>
Guidance:&nbsp;For fiscal year 2024, AstraZeneca reaffirms total revenues and core EPS are expected to increase by a low double-digit to low teens percentage at constant exchange rates.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38055367/astrazeneca-ceo-highlights-decade-long-sales-goal-of-45b-along-with-investor-doubts-as-it-lags-in" rel="noreferrer noopener">AstraZeneca CEO Highlights Decade-Long Sales Goal Of $45B Along With Investor Doubts As It Lags In Weight Loss Race</a>.
Price Action: At the last check Thursday, AZN shares were up 4.99% at $74.75 during the premarket session.
Photo by Paul McManus via Pixabay

Biotech

Guidance

Health Care

General

AstraZeneca Posts Bumper Earnings On Strong Sales From Cancer Drugs, Sticks To Annual Guidance

The back-and-forth motion in the market continues, with the index futures pointing to a lower opening on Thursday. Meta Platforms, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">lukewarm second-quarter revenue guidance </a>and commentary regarding investment punctured the stock, while International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) also fell on earnings. The tech space could come under pressure as traders digest these disappointments.
More tech earnings are on tap on Thursday, led by AI stalwart Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)
Also weighing down on sentiment would be apprehensions regarding two key data due for the week. The first read of the first-quarter GDP data (Thursday) and the personal income and spending report (Friday), will be in the spotlight as the market strives to make sense of growth and inflation trajectories ahead of next week&#8217;s Federal Reserve&#8217;s monetary policy meeting.
 Futures Performance On Thursday ( as of 5:50 a.m. EDT)
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.81%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.48%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.31%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.47%</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 Thursday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) slipped 0.43% to $503.24,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.78% to $423.20, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Past Session:
Early optimism triggered by positive reactions to earnings from Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Texas Instruments, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) tempered over the course of Wednesday&#8217;s session. Mixed earnings reports and economic worries kept sentiment subdued for much of the session, and this led to a mixed close for the day.
The tech-heavy Nasdaq Composite and the S&amp;P 500 Index ended the session marginally higher, pulling notably off the day&#8217;s high reached in early trading. The former moved in a roughly 205-point range and the latter gyrated between 5,047.02 and 5,089.48, a roughly 43-point intra-day move. Nevertheless, the indices have been higher for a third straight session now.
Weighed down by a 2.87% pullback in Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares following its earnings release, the Dow Jones Industrial Average ended modestly lower. 
<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>+0.10%</td>
<td>15,712.75</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.02%</td>
<td>5,071.63</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.11%</td>
<td>38,460.92</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.36%</td>
<td>1,995.43</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The growth conundrum of whether the economy is going to see a hard or soft landing, has kept investors skewed toward quality stocks, <a href="https://www.morganstanley.com/ideas/thoughts-on-the-market-wilson?subscribed=true&amp;dis=em_2024424_wm_5ideasarticle&amp;et_mid=585156&amp;et_mkid=&amp;sfmc_id=201810710">said </a>Morgan Stanley&#8217;s Chief Equity Strategist Mike Wilson in a podcast. &#8220;The largest risk for stocks more broadly is higher 10-year Treasury yields as investors begin to demand a larger term premium due to higher inflation and the growing supply of bonds to pay for the endless deficits,&#8221; he said.
&#8220;Our primary concern for equities at this point is that aggressive fiscal spending has led to better economic growth but it keeps upward pressure on inflation and prevents the Fed from cutting interest rates that many economic participants desperately need at this point.&#8221;
The analyst recommended investors look into under-appreciated sectors. &#8220;This is all in-line with our 2024 outlook that suggests the major equity indices are overvalued while the best opportunities are likely beneath the surface in underappreciated sectors like energy that are positively levered to stickier inflation and higher interest rates.&#8221;
Fund Strat&#8217;s Tom Lee, however, is optimistic. In his weekly commentary, the analyst noted that the S&amp;P 500 and equities rebounded over the past two days, rising more than 2%. &#8220;The S&amp;P 500 closed solidly above the critical 5,019.20 to 5,070.55. In our view, this is confirmation that the worst of this two-week decline is behind us,&#8221; he said.
Upcoming Economic Data:
The Bureau of Economic Analysis is due to release its<a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/04/38405106/us-economy-expected-to-grow-2-5-in-q1-not-a-hard-landing-and-hardly-a-soft-one"> first-quarter GDP data (advance estimate) </a>at 8:30 a.m. EDT. Economists, on average, expect the economy to have expanded 2.2%, slower than the 3.4% pace in the fourth quarter. Traders may also keep an eye on the GDP price deflator and the price consumption expenditure index to gauge inflation trends.
The Labor Department will release the customary jobless claims data at 8:30 a.m. EDT. The number of individuals claiming unemployment benefits is expected at 215,000 for the week ended April 20, up slightly from 212,000 in the previous week.
The National Association of Realtors is scheduled to release its pending home sales index for March at 10 a.m. EDT, with consensus calling for an unchanged reading following the 1.6% increase in February.
The Treasury will auction four- and eight-week bills at 11:30 a.m. EDT and seven-year notes at 1 p.m. EDT.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures </a>
Stocks In Focus: 
<ul>
<li>Meta and IBM fell 12.5% and 8.5%, respectively, <a href="https://www.benzinga.com/premarket">in premarket trading </a>following quarterly earnings announcement.</li>
<li>Other stocks moving on earnings are ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) (down about 4.5%), Teradyne, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) (up over 8%), O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>) (down 4%), Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>) (up over 12.5%), Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) (up about 2.5%) and Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) (up about 2.5%).</li>
<li>Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>), American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), AstraZeneca Plc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>), Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), Caterpillar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), CMS Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>), Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>), Harley-Davidson, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOG#NYSE">HOG</a>), Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>), Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>), Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>), Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) and STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting their earnings ahead of the market open.</a></li>
<li>Notable names reporting after the close include Alphabet, Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>), Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>), Microsoft, Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>), T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) and Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures continued to trade under the $83-a-barrel mark and gold futures were seen consolidating just above the $2,330 level.
The 10-year note yield, held firm around the 4.64% ahead of Friday&#8217;s inflation data.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) weakened by about 3.50% and traded shy of the psychological barrier of $64,000.
Most major Asian markets, with the exception of the Chinese, Hong Kong and Indian markets, pulled back, as traders positioned themselves for Friday&#8217;s U.S. inflation data. The Australian and New Zealand markets remained closed for a public holiday.
The European markets fell in early trading, adding to the losses they made on Wednesday. The Euro STOXX 50 Index was down 0.44% at the last check.
Read Next: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38410454/treasury-yields-reach-5-month-high-lift-mortgage-rates-expert-warns-federal-debt-">Treasury Yields Reach 5-Month High, Lift Mortgage Rates; Expert Warns &#8216;Federal Debt Blob Is Out Of Control&#8217;</a>
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Futures

Previews

Economics

Federal Reserve

GOOG

MBLY

NDAQ

ORLY

TSLA

US Stocks Brace For Negative Start Amid Tech Earnings Disappointments, Caution Ahead Of Data: 'Worst Of This Two-Week Decline Is Behind Us,' Says Analyst

WIIM

AstraZeneca shares are trading higher following a Q1 revenue beat.

Guidance
The Company reiterates its Total Revenue and Core EPS guidance for FY 2024 at CER, based on the average foreign exchange rates through 2023.
<ul>
<li>Total Revenue is expected to increase by a low double-digit to low teens percentage</li>
<li>Core EPS is expected to increase by a low double-digit to low teens percentage</li>
<li>Collaboration Revenue is expected to increase substantially, driven by success-based milestones and certain anticipated transactions</li>
<li>Other operating income is expected to decrease substantially (FY 2023 included a $241m gain on the disposal of&nbsp;Pulmicort Flexhaler&nbsp;US rights, and a $712m one-time gain relating to updates to contractual arrangements for&nbsp;Beyfortus)</li>
<li>The Core Tax rate is expected to be between 18-22%</li>
</ul>

AstraZeneca Reiterates Its 2024 Guidance: Expects Total Revenue And Core EPS To Increase By A Low Double-Digit To Low Teens Percentage At CER

AstraZeneca (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) reported quarterly earnings of $1.03 per share which missed the analyst consensus estimate of $1.22 by 15.57 percent. This is a 7.29 percent increase over earnings of $0.96 per share from the same period last year. The company reported quarterly sales of $12.679 billion which beat the analyst consensus estimate of $11.833 billion by 7.15 percent. This is a 16.55 percent increase over sales of $10.879 billion the same period last year.

Earnings Beats

Earnings Misses

AstraZeneca Q1 2024 Adj EPADS $1.03 Misses $1.22 Estimate, Sales $12.679B Beat $11.833B Estimate

<a href="https://sam.gov/opp/459dd88685554ee3831c7d0db54f8d34/view" title="https://sam.gov/opp/459dd88685554ee3831c7d0db54f8d34/view">https://sam.gov/opp/459dd88685554ee3831c7d0db54f8d34/view</a>

Government

Contracts

AstraZeneca Awarded $913M Contract By The Department Of Veteran Affairs For BTK Inhibitors

Under the agreement, ANGLE will develop a novel methodology for CTC micronuclei detection based on its existing pKAP1 CTC-based DDR assay, which measures expression of a key protein in the DNA damage response. Assay development will take place in ANGLE&#39;s laboratories in Guildford, UK, and follows the Company&#39;s development and launch of two highly sensitive and specific DDR assays in 2023. The 6-month development phase is worth an initial &pound;150,000 to ANGLE.

ANPCF

Angle Inks New Commercial Agreement With AstraZeneca to Enhance DNA Damage Response Detection

The European Commission Has Approved AstraZeneca's Voydeya (Danicopan) As An Add-on To Ravulizumab Or Eculizumab For Paroxysmal Nocturnal Hemoglobinuria Patients Who Have Residual Hemolytic Anemia

In its upcoming report, Astrazeneca (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/azn#NYSE">AZN</a>) is predicted by Wall Street analysts to post quarterly earnings of $0.95 per share, reflecting a decline of 1% compared to the same period last year. Revenues are forecasted to be $11.94 billion, representing a year-over-year increase of 9.7%.
Over the last 30 days, there has been a downward revision of 1.7% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts&#39; collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company&#39;s earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts&#39; forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let&#39;s delve into the average estimates of some Astrazeneca metrics that Wall Street analysts commonly model and monitor.
The collective assessment of analysts points to an estimated &#39;Product Sales- CVRM- Brilinta&#39; of $310.25 million. The estimate indicates a year-over-year change of -7.1%.
The consensus among analysts is that &#39;Product Sales- CVRM- Onglyza&#39; will reach $49.01 million. The estimate indicates a change of -22.2% from the prior-year quarter.
Analysts predict that the &#39;Product Sales- CVRM- Farxiga&#39; will reach $1.62 billion. The estimate points to a change of +24.9% from the year-ago quarter.
The average prediction of analysts places &#39;Product Sales- Oncology- Lynparza&#39; at $724.52 million. The estimate indicates a change of +11.3% from the prior-year quarter.
According to the collective judgment of analysts, &#39;Fasenra- U.S. Sales&#39; should come in at $227.69 million. The estimate indicates a year-over-year change of +13.3%.
The combined assessment of analysts suggests that &#39;Brilinta- U.S. Sales&#39; will likely reach $167.43 million. The estimate points to a change of -6.5% from the year-ago quarter.
It is projected by analysts that the &#39;Onglyza- U.S. Sales&#39; will reach $6.32 million. The estimate indicates a change of -54.8% from the prior-year quarter.
Analysts expect &#39;Lynparza- U.S. Sales&#39; to come in at $302.51 million. The estimate indicates a change of +12.9% from the prior-year quarter.
The consensus estimate for &#39;Imfinzi- U.S. Sales&#39; stands at $635.60 million. The estimate suggests a change of +21.8% year over year.
Analysts&#39; assessment points toward &#39;Calquence- U.S. Sales&#39; reaching $442.60 million. The estimate indicates a change of +15.3% from the prior-year quarter.
Analysts forecast &#39;Farxiga- U.S. Sales&#39; to reach $400.36 million. The estimate indicates a change of +35.3% from the prior-year quarter.
Based on the collective assessment of analysts, &#39;Lokelma- U.S. Sales&#39; should arrive at $64.23 million. The estimate indicates a change of +14.7% from the prior-year quarter. 
Over the past month, Astrazeneca shares have recorded returns of +3.5% versus the Zacks S&amp;P 500 composite&#39;s -4% change. Based on its Zacks Rank #3 (Hold), AZN will likely exhibit a performance that aligns with the overall market in the upcoming period.
<a href="https://www.zacks.com/stock/news/2259072/insights-into-astrazeneca-azn-q1-wall-street-projections-for-key-metrics?cid=CS-BENZ-FT-fundamental_analysis|nfm_preview-2259072">To read this article on Zacks.com click here.</a>

Insights Into Astrazeneca Q1: Wall Street Projections for Key Metrics

As the <a href="https://www.benzinga.com/news/large-cap/24/04/38342737/nasdaq-100-notches-worst-day-since-late-2023-worst-week-since-late-2022-as-ai-driven-chipmakers-tu">market runs into rough weather,</a> the importance of the upcoming week&#8217;s earnings cannot be emphasized enough. A lot is riding on the earnings reports of companies like Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</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>) and Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (GOOG).
The Season So Far: The percentage of S&amp;P 500 companies that have reported positive earning surprises and the magnitude of earnings surprises are at or above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-19-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-19-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril192024">said</a> FactSet in its report released Friday. That said, substantial downward revisions to earnings per share (EPS) estimates of two healthcare companies have led to a decline in earnings growth over the past two weeks.
The combined earnings per share growth rate of S&amp;P 500 companies, considering both the already reported actual results and the estimates for those yet to report, is at 0.5%, according to FactSet. The metric, however, fell from the 0.9% estimated previous week and the 3.4% estimated at the end of the first quarter. Earnings growth for the quarter may extend the positive growth streak to three quarters.
So far, 14% of the S&amp;P 500 companies have reported March quarter results. 
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks To Buy Right Now</a>
Look Ahead: The upcoming week will likely feature earnings releases from 158 S&amp;P 500 companies, including 11 Dow 30 components. With the bank earnings tapering off, the spotlight shifts to tech companies, as they begin to roll out their quarterly scorecard this week.
Apart from some big techs, which are part of the group called the &#8220;Magnificent Seven,&#8221; homebuilders, defense contractors, airlines and transportation companies are also due to release their quarterly reports. 
All eyes are focused on Tesla as analysts expect a downbeat report from the company. Analysts see the scope of a further contraction in margin and potentially a double miss yet again in the first quarter.
AI stalwarts Microsoft, Alphabet and Meta are widely expected to report strong results. Following the recent tech-led sell-off, Wedbush analyst Daniel Ives said, &#8220;We believe 1Q earnings will be a major positive catalyst for the tech sector and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38252477/why-microsoft-alphabet-amazon-palantir-and-meta-could-rise-15-in-2024-according-to-">expect tech stocks to be up another 15% for the year</a> adding to the strong start to 2024.&#8221;
The earnings schedule of key names are as follows:
Monday 
<ul>
<li>Before the bell: Albertsons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>), Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>), Zions Bancorporation, National Association (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>)</li>
<li>After the close: Ameriprise Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMP#NYSE">AMP</a>), Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>) and SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>), Quest Diagnostics Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), Fiserv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>), General Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), General Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>), Kimberly-Clark Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>), Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>), PepsiCo. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NYSE">PEP</a>), PulteGroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>), Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) and Xerox Holdings Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NYSE">XRX</a>), Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) and Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>)</li>
<li>After the close: Visa, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), Texas Instruments, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), Tesla, Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>), Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>), Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>), Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), Canadian National Railway Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) and Baker Hughes Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>)</li>
</ul>
Wednesday 
<ul>
<li>Before the bell: Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>), Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>), Norfolk Southern Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>), Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>), Hasbro, Inc. (NASDA: HAS), General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>), Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>), Biogen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) and AT&amp;T Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>)</li>
<li>After the close: Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>), Western Union Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>), ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>), QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>), O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>), Meta Platforms, Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>), Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), Knight-Swift Transportation Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>), International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>), American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), AstraZeneca Plc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>), Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), Caterpillar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), CMS Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>), Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>), Harley-Davidson, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOG#NYSE">HOG</a>), Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>), Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>), Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>), Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) and STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>)</li>
<li>After the close: Alphabet, Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>), Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>), Microsoft, Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>), T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) and Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), Aon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>), Autoliv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALV#NYSE">ALV</a>), AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>), Barnes Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>), Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>), Colgate-Palmolive Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>), Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Newell Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session down 0.87% at $495.16, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech companies, has lost 7.72% from its all-time intraday high of $449.34 (March 21).
Read Next: <a href="https://www.benzinga.com/news/large-cap/24/04/38342737/nasdaq-100-notches-worst-day-since-late-2023-worst-week-since-late-2022-as-ai-driven-chipmakers-tu">Nvidia In Correction Territory — Did AI-Led Tech Stock Bubble Just Burst? This Data Point Offers A Clue.</a>
Photo: Shutterstock

Analyst Color

ABBV

BIIB

CHTR

JBLU

ODFL

SPOT

STLD

ZION

Can Magnificent 7 Help Script Market Turnaround? Earnings Pick Up Pace With Microsoft, Meta, Alphabet And Tesla Expected This Week

Financial giants have made a conspicuous bearish move on AstraZeneca. Our analysis of options history for AstraZeneca (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) revealed 12 unusual trades.
Delving into the details, we found 16% of traders were bullish, while 83% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $90,336, and 9 were calls, valued at $981,928.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $66.0 and $77.5 for AstraZeneca, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for AstraZeneca's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of AstraZeneca's whale activity within a strike price range from $66.0 to $77.5 in the last 30 days. 
<h3>AstraZeneca Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713559545_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AZN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$1.06</td>
<td>$0.9</td>
<td>$0.9</td>
<td>$67.50</td>
<td>$594.6K</td>
<td>14.1K</td>
<td>8.2K</td>
</tr>
<tr>
<td>AZN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$1.65</td>
<td>$1.54</td>
<td>$1.55</td>
<td>$67.00</td>
<td>$69.4K</td>
<td>2.5K</td>
<td>2.3K</td>
</tr>
<tr>
<td>AZN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$1.52</td>
<td>$1.51</td>
<td>$1.51</td>
<td>$67.00</td>
<td>$67.6K</td>
<td>2.5K</td>
<td>1.0K</td>
</tr>
<tr>
<td>AZN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$1.49</td>
<td>$1.25</td>
<td>$1.49</td>
<td>$67.00</td>
<td>$66.7K</td>
<td>2.5K</td>
<td>24</td>
</tr>
<tr>
<td>AZN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$1.57</td>
<td>$1.48</td>
<td>$1.49</td>
<td>$67.00</td>
<td>$49.6K</td>
<td>2.5K</td>
<td>920</td>
</tr>
</tbody>
</table>

<h3>About AstraZeneca</h3>
A merger between Astra of Sweden and Zeneca Group of the United Kingdom formed AstraZeneca in 1999. The firm sells branded drugs across several major therapeutic classes, including gastrointestinal, diabetes, cardiovascular, respiratory, cancer, immunology and rare diseases. The majority of sales come from international markets with the United States representing close to one third of its revenue.
Following our analysis of the options activities associated with AstraZeneca, we pivot to a closer look at the company's own performance.
<h3>Where Is AstraZeneca Standing Right Now?</h3>
<ul>
<li>With a trading volume of 4,720,283, the price of AZN is up by 0.28%, reaching $68.55.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 6 days from now.</li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest AstraZeneca options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Looking At AstraZeneca's Recent Unusual Options Activity

Drug shortages in the UK have more than doubled between 2020 and 2023, a recent study by the Nuffield Trust reveals. Brexit is cited as a significant factor exacerbating the country&#8217;s struggle to manage shortages in medicine supplies.&nbsp;
Since the UK departed from the European Union in January 2020, the nation has grappled with persistently heightened shortages, particularly concerning crucial treatments like antibiotics and epilepsy drugs.
The research highlights a substantial increase in warnings issued by drug companies regarding impending shortages.&nbsp;
In 2023 alone, there were 1,643 warnings compared to 648 in 2020. Consequently, the government has found itself more frequently reimbursing pharmacies for purchasing drugs above standard costs, with price concessions soaring from 20 instances per month before 2016 to a peak of 199 per month in late 2022.
Citing Mark Dayan, the Brexit program lead at the Nuffield Trust, the Financial Times&nbsp;<a target="_blank" href="https://www.ft.com/content/e1c60543-f5fa-44ac-b180-4b4c60d86342" rel="noreferrer noopener">highlighted</a>&nbsp;that the challenges extend beyond Brexit, with global issues such as disrupted import chains from Asia due to&nbsp;Covid-19&nbsp;exacerbating the situation.&nbsp;
Exiting the EU has compounded these issues, causing disruptions in the smooth flow of products across borders and potentially limiting the availability of alternative medicines in the long run.
The report underscores how Brexit has intensified vulnerabilities in global and UK-specific drug supply chains.&nbsp;
Customs checks at borders and increased regulations for manufacturers, including those related to the UK&#8217;s departure from the European Medicines Agency, have further complicated matters.&nbsp;
Some companies have even opted to exclude the UK from their supply chains.
In addition to Brexit-related challenges, the UK&#8217;s Medicines and Healthcare Regulatory Agency (MHRA) has struggled to approve drugs at the same pace as the EU, hindering the entry of generic medicines into the UK market.&nbsp;
Surges in demand for certain drugs, coupled with UK pricing policies, have further strained supplies in the country.
Despite efforts to address these issues, such as establishing a Critical Imports Council, concerns&nbsp;still need to be&nbsp;addressed&nbsp;about the UK&#8217;s ability to mitigate future shortages without access to EU solidarity mechanisms.&nbsp;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image credit: Dall-E 3

Brexit Impact On Drugs - Rising Shortages in UK Highlight Brexit Challenges

Tuesday,&nbsp;Amgen Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) provided an update regarding the results of the Phase 2a COURSE trial for Tezspire (tezepelumab-ekko) in chronic obstructive&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38282098/amgen-to-present-tezspire-phase-2a-copd-data-at-ats-2024" rel="noreferrer noopener">pulmonary disease (COPD)</a>.&nbsp;
Tezspire is a registered trademark of Amgen and&nbsp;AstraZeneca Plc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>).
<ul>
<li>Overall, tezepelumab numerically reduced the annualized rate of moderate or severe COPD exacerbations versus placebo by 17%, although the reduction was not statistically significant, with p=0.1042.&nbsp;</li>
<li>More reductions were observed in a prespecified subgroup of patients with baseline eosinophil count (BEC) ≥150 cells/μL (37%).</li>
<li>The trend in reduction was greater in a small number of subjects with BEC ≥300 cells/µL.&nbsp;</li>
</ul>
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37991995/amgens-diversified-portfolio-to-drive-long-term-growth-though-uncertainties-loom-an" rel="noreferrer noopener">Amgen&#8217;s Diversified Portfolio To Drive Long-Term Growth, Though Uncertainties Loom, Analyst Says</a>.
William Blair&nbsp;compared Tezspire&#8217;s results with&nbsp;Sanofi SA&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) and&nbsp;Regeneron Pharmaceutical Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) Dupixent, demonstrating a 30% and 34% decrease in annualized moderate or severe acute COPD exacerbations in their Phase 3 studies.&nbsp;
However, Dupixent trials specifically enrolled patients with elevated blood eosinophils (≥300 cells/μL) at baseline, known to be linked with higher COPD exacerbation rates.&nbsp;
Tezspire&#8217;s trials indicated at least a 37% reduction in exacerbations for patients with eosinophil counts ≥150 cells/μL and ≥300 cells/μL, potentially offering greater benefits than Dupixent for this subset of patients.&nbsp;
This positive outcome in COPD could significantly expand Tezspire&#8217;s market beyond asthma, especially considering its successful commercial launch in 2021.&nbsp;
Investor interest in targeted therapies for COPD has risen due to Dupixent&#8217;s success, and Tezspire&#8217;s efficacy in a broader patient subset (150 cells/μL versus 300 cells/μL baseline eosinophil counts for Dupixent) is promising.&nbsp;
While awaiting the full dataset, the indication of a positive trend across all patients suggests further market opportunities for Tezspire.
The analyst keeps the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/AMGN/analyst-ratings" rel="noreferrer noopener">Market Perform rating for the stock.</a>
Price Action: AMGN shares are up 0.06% at $265.80 on the last check Wednesday.
Photo by Minerva Studio via Shutterstock

Reiteration

Analyst Ratings

AMGN

REGN

Amgen/AstraZeneca's Asthma Drug Tezspire Vs. Sanofi/Regeneron's Blockbuster Dupixent - Analyst Gives His Pick

Deutsche Bank analyst Emmanuel Papada upgrades AstraZeneca (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) from Sell to Hold.

Upgrades

Deutsche Bank Upgrades AstraZeneca to Hold

AstraZeneca Q1 2024 Earnings Preview

AstraZeneca beats top-line and bottom-line estimates; reaffirms FY24 outlook

AstraZeneca (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) shares are on the rise today after the biopharmaceutical major reported robust numbers for the first quarter. Revenue jump...

AZN Earnings: AstraZeneca Soars on Impressive Q1 Results

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AstraZeneca (AZN) has released an update. AstraZeneca PLC reported strong financial performance for the first quarter of 2024, with a 19% increase ...

AstraZeneca's Q1 2024: Revenue and Dividend Leap

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
AstraZeneca (NASDAQ:<a href="https://investorplace.com/stock-quotes/azn-stock-quote/">AZN</a>) just reported results for the first quarter of 2024.<ul><li>AstraZeneca reported earnings per share of $1.03. This was below the analyst estimate for EPS of $1.22.</li><li>The company reported revenue of $12.68 billion.</li><li>This was 7.18% better than the analyst estimate for revenue of $11.83 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/04/azn-stock-earnings-astrazeneca-for-q1-of-2024/">AZN Stock Earnings: AstraZeneca Misses EPS, Beats Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

AZN Stock Earnings: AstraZeneca Misses EPS, Beats Revenue for Q1 2024

AstraZeneca rises as oncology business drives Q1 beat

Biggest stock movers today: LUV, META, IBM, F, and more

AstraZeneca PLC (AZN) Q1 2024 Earnings Call Transcript

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3 Best Healthcare Stocks to Buy in April 2024, According to Analysts

AZNCF

DSKYF

DSNKY

Press Releases

FASENRA approved for treatment of children aged 6 to 11 with severe asthma

Small Cap

Opinion

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Q1 2024 results

AbelZeta Announces Abstract for C-CAR031 Accepted for Presentation at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting