Sanofi Stock (NASDAQ:SNY), Trade Ideas

Sanofi

Sanofi American Depositary Shares (Each repstg one-half of one ordinary share)

NYSE

Sanofi develops and markets drugs with a concentration in oncology, immunology, cardiovascular disease, diabetes, over-the-counter treatments and vaccines. However, the company's decision in late 2019 to pull back from the cardio-metabolic area will likely reduce the firm's footprint in this large therapeutic area. The company offers a diverse array of drugs with its highest revenue generator, Dupixent, representing just over 20% of total sales, but profits are shared with Regeneron. About 40% of total revenue comes from the United States and 25% from Europe. Emerging markets represent the majority of the remainder of revenue.

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REGN

Regeneron Pharmaceuticals Q1 2024 earnings: EPS down 5%, sales miss; Eylea US sales drop 16%, Dupixent offsets. Oncology treatment Libtayo sales surge 49%.

Regeneron Pharmaceuticals Targets Quality Weight Loss In Latest Obesity Innovation

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With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages.

Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week

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On Thursday, Regeneron Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) reported first-quarter adjusted EPS of $9.55, down 5% Y/Y, missing the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus of $10.10</a>.
The company reported sales of $3.15 billion, missing the consensus of $3.22 billion.
First quarter 2024 revenues decreased by 1%; excluding Ronapreve (COVID-19 antibody), <a href="https://www.benzinga.com/pressreleases/24/05/g38576382/regeneron-reports-first-quarter-2024-financial-and-operating-results" target="_blank" rel="noreferrer noopener">revenues increased by 7%</a>.
Eylea US sales fell 16% to&nbsp;$1.2 billion, primarily due to changing market dynamics, resulting in lower volumes and a lower net selling price.
Eylea HD sales reached $200 million, and&nbsp;overall, Eylea sales fell 2% to $1.4 billion.
Continued Dupixent strength compensated for stagnant Eylea sales, which&nbsp;Sanofi SA&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) records, jumped a currency-adjusted&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38432249/drugmaker-sanofis-strong-dupixent-and-beyfortus-vaccine-sales-propel-q1-earnings" rel="noreferrer noopener">24.9% to 2.84 billion euros</a>.&nbsp;
As a result, Regeneron&#8217;s collaboration cut from Sanofi rose 14% to $910 million.
Regeneron&#8217;s oncology treatment Libtayo continued its rise. Sales were up 49% to $264 million.
Taking a dig at the obesity space, during a Q1 earnings conference call, George Yancopoulos, Regeneron&#8217;s co-founder, president, and chief scientific officer, said, &#8220;Our antibodies to myostatin-related pathways may prevent this muscle loss.&#8221; 
GLP/GIP receptor agonists have been associated with muscle loss.&nbsp;
&#8220;Indeed, our data in obese non-human primates show that combining semaglutide with&nbsp;trevogrumab, our antibody targeting myostatin, with or without&nbsp;garetosmab, our antibody targeting activin A or myostatin 2, demonstrated a comparable reduction in body weight at week 20 relative to semaglutide monotherapy, but with improved quality of weight loss, resulting in more fat loss while preserving or even increasing lean mass.&#8221;
Part A of the proof of concept study in healthy volunteers intended to demonstrate the safety of a higher dose of&nbsp;trevogrumab&nbsp;has completed enrollment.&nbsp;
Over 400 subjects, including healthy volunteers and sarcopenic patients, have been dosed with trevogrumab, with no meaningful safety or tolerability concerns observed to date. 
Part B of the study, which will&nbsp;<a target="_blank" href="https://investor.regeneron.com/static-files/d6375b15-eded-4a7f-a048-b1ec42f0d412" rel="noreferrer noopener">evaluate</a>&nbsp;muscle preservation antibodies in combination with semaglutide in obese participants, remains on track to start enrolling midyear.&nbsp;
Regeneron expects to report topline results in the second half of 2025.
Price Action: REGN shares are up 3.5% at $935.20 at last check Thursday.
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Photo: Shutterstock

<ul>
<li>New real-world evidence shows Beyfortus (nirsevimab) substantially reduced RSV lower respiratory tract disease and hospitalizations in infants during the 2023-2024 RSV season, versus no intervention1-6</li>
<li>Results add to the consistent high efficacy of Beyfortus against medically attended RSV lower respiratory tract disease, shown in the pivotal clinical studies and the outcomes from HARMONIE, a phase 3b clinical study conducted in close to real-life conditions7-10</li>
</ul>

Beyfortus Real-World Evidence Published In The Lancet Shows 82% Reduction In Infant RSV Hospitalizations

Corporate <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">earnings came to the market&#8217;s rescue in the past week,</a> helping to overcome rate fears. As we look ahead to the unfolding week, it remains to be seen whether the tech earnings deluge can keep the rally&#8217;s momentum going. 
The Week That Was: High-profile Magnificent Seven earnings panned out mostly positively for the market, with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) the outlier. The social media giant&#8217;s stock fell sharply as traders fretted over the soft second-quarter revenue guidance and the company&#8217;s massive AI investment plans. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) managed to appease the Street despite the double miss as it held out the promise of an expeditious launch of a more affordable EV. 
With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-26-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-26-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril262024">said </a>FactSet in a report.
The blended first-quarter earnings growth of S&amp;P 500 companies is estimated at 3.5%, up from the 0.6% growth estimated in the week ended April 19, the financial data analytics firm said. If the trend holds, the S&amp;P 500 companies are on track to report earnings growth for the third straight quarter.
Of the 11 S&amp;P sector classes, eight sectors reported year-over-year earnings growth, led by communication services, utilities, IT, and consumer discretionary sectors. On the other hand, healthcare, energy, and materials have reported year-over-year earnings declines.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Look Ahead: The unfolding week will see 175 S&amp;P 500 companies and 6 Dow 30 components releasing their quarterly scorecards. The earnings roster includes two Magnificent Seven companies, namely Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), e-commerce retailers, payment processors, restaurants, and energy and REIT companies.
Earnings from Apple and Amazon could be market-moving, given the weighting of these stocks in the S&amp;P 500 Index. Also, Apple is considered a bellwether, given its exposure to consumers. Morgan Stanley&#8217;s Erik Woodring expects Apple to report a slightly beat but guide June quarter revenue down. 
Investors are likely to keep a close eye on performance in China, Apple&#8217;s updated capital return framework, and capital expenditures, the analyst said.
That said, the analyst is positive on the stock ahead of its annual Worldwide Developers&#8217; Conference due on June 10th. &#8220;With Apple&#8217;s biggest WWDC event on June 10th, we&#8217;d buy post-earnings weakness,&#8221; he said.
Amazon will likely continue to report double-digit sales and profit growth in the first quarter, according to Telsey Advisory Group analyst Joseph Feldman. The analyst premised his optimism on the strength of online spending, gains from expanded merchandise and faster fulfillment, and stabilization (and growth) of AWS. 
&#8220;Importantly, we expect [a] greater focus on profits supported by the growth of higher margin categories and services, such as advertising, media, and AWS (partly helped by AI-related upgrades), the redesigned distribution network&#8230;.. and cost savings,&#8221; he said.
Notable among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting earnings this week</a> are:
Monday 
<ul>
<li>Before the bell: JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>), SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
<li>After the close: F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>), Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>)</li>
<li>After the close: Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
</ul>

Wednesday 
<ul>
<li>Before the bell: Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>)</li>
<li>After the close: Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>)</li>
<li>After the close: Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: 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>), 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>)</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 up 0.95% at $508.26, 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 stocks, rose 1.54% to $431.
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Sobi&#xAE; today announced the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency has issued a positive opinion recommending approval of efanesoctocog alfa, for the treatment and prevention of bleeds and perioperative prophylaxis in haemophilia A. Efanesoctocog alfa is a once-weekly and high-sustained factor VIII replacement therapy for patients of all ages and any disease severity.
Efanesoctocog alfa provides children, adolescents and adults with normal to near-normal factor VIII activity levels (above 40%) for a significant part of the week with once-weekly dosing, reaching trough levels of 15% in adults and adolescents at day 7. This results in significantly improved protection from bleeds compared to existing factor VIII prophylaxis. The CHMP positive opinion will now be submitted to the European Commission for a marketing authorisation decision.
"Today's announcement marks a major milestone in haemophilia care and moves us one step closer to bringing efanesoctocog alfa to patients in the EU. Efanesoctocog alfa sustains high factor VIII activity levels throughout the week, giving patients confidence in the protection it can provide to prevent bleeds, manage surgery, and resolve bleeds. With the potential to significantly improve treatment outcomes and quality of life for people living with haemophilia A, we are excited about the positive impact this treatment could have around the world," said Lydia Abad-Franch, MBA, Head of Research, Development, and Medical Affairs, and Chief Medical Officer at Sobi.
Haemophilia A is a rare, lifelong genetic condition in which the body does not produce enough, or makes dysfunctional, factor VIII – a protein that is essential for blood clotting. It occurs in about one in 5,000 male births annually, and more rarely in females. People with haemophilia can experience bleeding episodes that can cause pain, irreversible joint damage and life-threatening haemorrhages. Clinical outcomes have improved over time thanks to significant advances in the treatment options available, however important unmet clinical and social needs still exist for those living with the condition.
The recommendation from the CHMP is based on the results from the pivotal phase 3 studies: XTEND-1 in adults and adolescents and XTEND-Kids in children, which evaluated the efficacy and safety of efanesoctocog alfa. These studies demonstrated that once-weekly efanesoctocog alfa prophylaxis (50 IU/kg) provided significant bleed protection (mean ABR &lt;1 and 80-88% of patients free from spontaneous bleeds) in people with severe haemophilia A of any age. The data also showed substantial improvement in joint health, physical health, pain and overall quality of life when comparing week 52 and baseline measurements.1 No factor VIII inhibitors were observed in the efanesoctocog alfa clinical program.
Efanesoctocog alfa was first approved in the US in February 2023 by the US Food and Drug Administration (FDA). The FDA previously granted&nbsp;efanesoctocog alfa Breakthrough Therapy designation in May 2022 — the first factor VIII therapy to receive this designation, Fast Track designation in February 2021, and Orphan Drug designation in 2017.

Sobi Receives Positive CHMP Opinion Recommending Approval Of Efanesoctocog Alfa For Once-Weekly Treatment Of Haemophilia A

Thursday,&nbsp;AbbVie&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NASDAQ">ABBV</a>) released topline results from LEVEL UP, an open-label, efficacy assessor-blinded head-to-head Phase&nbsp;3b/4&nbsp;study of upadacitinib (Rinvoq, 15 mg once daily starting dose and dose-adjusted based on clinical response) versus dupilumab (Dupixent, per its labeled dose)&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38428188/new-data-show-rinvoq-upadacitinib-demonstrated-superiority-versus-dupixent-dupilumab-across-primar" rel="noreferrer noopener">for atopic dermatitis</a>.
AbbVie said the study is the first head-to-head trial in atopic dermatitis assessing upadacitinib at a starting&nbsp;dose of 15 mg daily versus dupilumab at its labeled dose.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38300021/is-your-botox-real-or-fake-counterfeit-boxes-circulate-for-widely-used-antiwrinkle-treatment-cdc-" rel="noreferrer noopener">Is Your Botox Real Or Fake? Counterfeit Boxes Circulate For Widely Used Antiwrinkle Treatment, CDC And FDA Investigate Harmful Reactions</a>.
The study enrolled adults and adolescents with moderate-to-severe atopic dermatitis (AD) who had an inadequate response to systemic therapy or when the use of those therapies was inadvisable.
Dupixent is the flagship drug of&nbsp;Sanofi SA&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) and&nbsp;Regeneron&nbsp;Pharmaceutical Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>).
In the study,&nbsp;upadacitinib showed superior efficacy versus dupilumab in the primary endpoint, demonstrating that a significantly higher proportion of patients simultaneously achieved both a 90% or&nbsp;greater&nbsp;reduction in Eczema Area and Severity Index (EASI 90) and a Worst Pruritus Numerical Rating Scale of 0 or 1 (WP-NRS 0/1) at Week 16.
<ul>
<li>Rinvoq helped 19.9% of patients achieve 90% skin clearance with a no-to-little itch, compared with 8.9% of patients treated with Dupixent.</li>
<li>The EASI is a clinically validated measure used to assess the severity and extent of atopic dermatitis.&nbsp;</li>
<li>WP-NRS is an assessment tool that patients use to report the intensity of their pruritus daily (with 0 being &#8216;no itch&#8217; and 10 being the &#8216;worst imaginable itch&#8217;).</li>
</ul>
Upadacitinib also showed superiority over dupilumab for all ranked secondary endpoints, including the rapid onset of nearly complete skin clearance and little to little itch.&nbsp;
For the first two ranked secondary endpoints, the study showed that&nbsp;a significantly higher proportion of patients treated with upadacitinib:
<ul>
<li>Achieved EASI 90 at Week 16 (40.8% vs 22.5%).</li>
<li>Achieved a WP-NRS of 0/1 at Week 16 (30.2% vs 15.5%).</li>
</ul>
Price Action: ABBV shares were down 0.15% at $167.54 at the last check Thursday.
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Photo: Shutterstock

AbbVie's Dermatitis Drug Shown 'Superior' To Sanofi/Regeneron's Dupixent In Head-To-Head Study

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>
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Intraday Update

Markets

CARR

PTSI

SNBR

STRA

ULBI

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

Thursday,&nbsp;Sanofi SA&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>)&nbsp;<a target="_blank" href="https://www.sanofi.com/en/investors/financial-results-and-events/financial-results/q1-results-2024" rel="noreferrer noopener">reported</a>&nbsp;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 $0.97&nbsp;(1.78 euros), beating the consensus estimate of $0.94.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38091091/in-heart-burn-drug-zantacs-litigation-saga-sanofi-nears-settlement-in-major-lawsuit-cluster" rel="noreferrer noopener">In Heart Burn Drug Zantac&#8217;s Litigation Saga, Sanofi Nears Settlement in Major Lawsuit Cluster</a>.
The company reported first-quarter sales of $11.36 billion (10.5 billion euros), beating the consensus of $11.04 billion.
Research and Development expenses increased by 10.0% to 1.7 billion euros. At CER, R&amp;D expenses increased by 11.8%, reflecting increased expenses in Vaccines (mRNA) and Pharma (pipeline acceleration).
The strong performance of Dupixent, Pharma launches, and Beyfortus late-season deliveries was partially offset by the impact of generic competition on Aubagio&nbsp;as well as&nbsp;lower sales of Lantus.
First-quarter sales of eczema and asthma drug Dupixent jumped a currency-adjusted 24.9% to 2.84 billion euros.
Pharma launches up 90.5% to 606 million euros, led by Nexviazyme and ALTUVIIIO.
Vaccine sales increased by 5.6% to 1.2 billion euros, driven by strong Beyfortus (RSV vaccine) uptake partly offset by the absence of COVID-19 vaccine&nbsp;sales this quarter compared to 167 million euros in Q1 2023
Guidance:&nbsp;For 2024, Sanofi reiterates a low single-digit business EPS decline.
The company expects Dupixent to&nbsp;<a target="_blank" href="https://www.sanofi.com/assets/dotcom/content-app/events/quaterly-results/2024/2024-q1-2024-results/q1-2024-presentation-en.pdf" rel="noreferrer noopener">deliver</a>&nbsp;around €13 billion in 2024 sales.
Vaccine sales&nbsp;are expected&nbsp;to grow mid-single-digit in 2024.
Sanofi shares an ambition to reach blockbuster status (sales over $1 billion) for its Beyfortus vaccine.
Beyfortus sales reached&nbsp;182 million euros, reflecting late deliveries in the US and&nbsp;the new&nbsp;implementation of &#8220;All Infant Protection&#8221; programs in Chile and Australia. No Beyfortus sales&nbsp;are expected&nbsp;in Q2 2024 due to the early delivery in Q1 and the specific seasonality.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38299995/amgenastrazenecas-asthma-drug-tezspire-vs-sanofiregenerons-blockbuster-dupixent-ana" rel="noreferrer noopener">Amgen/AstraZeneca&#8217;s Asthma Drug Tezspire Vs. Sanofi/Regeneron&#8217;s Blockbuster Dupixent &#8211; Analyst Gives His Pick</a>.
Price Action: SNY shares are up 5.40% at $49.13 at the last check Thursday.
Image by HJBC via Shutterstock

Guidance

Drugmaker Sanofi's Strong Dupixent And Beyfortus Vaccine Sales Propel Q1 Earnings

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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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

Sanofi shares are trading higher following better-than-expected Q1 financial results.

Business EPS guidance reiterated
Sanofi expects 2024 business EPS(1) to remain roughly stable excluding the impact of an expected effective tax rate increase to 21% and decrease low single-digit(2) at CER including the higher expected tax rate, barring unforeseen major adverse events. Applying average April 2024 exchange rates, the currency impact on 2024 business EPS is estimated between -5.5% to -6.5%.

Sanofi Reiterates 2024 Business EPS Guidance, Expects It To Remain Roughly Stable; Applying Average April 2024 Exchange Rates, The Currency Impact Is Estimated To Be Between -5.5% And -6.5%

Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) reported quarterly earnings of $0.97 per share which beat the analyst consensus estimate of $0.94 by 2.77 percent. This is a 16.72 percent decrease over earnings of $1.16 per share from the same period last year. The company reported quarterly sales of $11.364 billion which beat the analyst consensus estimate of $11.044 billion by 2.90 percent. This is a 3.58 percent increase over sales of $10.971 billion the same period last year.

Earnings Beats

Sanofi Q1 2024 Adj EPS $0.97 Beats $0.94 Estimate, Sales $11.364B Beat $11.044B Estimate

Rilzabrutinib LUNA 3 phase 3 study met primary endpoint in immune thrombocytopenia
<ul>
<li>Pivotal data from the first phase 3 study of a BTKi in immune thrombocytopenia (ITP) underscore the potential of rilzabrutinib to provide a clinically meaningful benefit to patients living with ITP</li>
<li>Regulatory submissions in the US and EU anticipated by year-end</li>
<li>Rilzabrutinib is one of 12 potential medicines and vaccines in Sanofi&#39;s robust immunology pipeline and a testament to Sanofi&#39;s ability to successfully accelerate and build a portfolio of next-generation transformative treatments for immune diseases</li>
<li>In addition to ITP, rilzabrutinib is being studied across a variety of immune-mediated diseases including asthma, chronic spontaneous urticaria, prurigo nodularis, IgG4-related disease and warm autoimmune hemolytic anemia</li>
</ul>

Sanofi's Rilzabrutinib LUNA 3 Phase 3 Study Met Primary Endpoint In Immune Thrombocytopenia

Legal

Sanofi To Pay $100M To Settle Zantac Cancer Lawsuits

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

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

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

Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) <a href="https://www.novartis.com/news/media-releases/novartis-kesimpta-six-year-efficacy-data-show-substantial-benefits-recently-diagnosed-treatment-naive-people-relapsing-multiple-sclerosis" target="_blank" rel="noreferrer noopener">released</a> data from the ALITHIOS open-label extension study showing sustained efficacy of first-line, continuous Kesimpta (ofatumumab) treatment for up to six years in <a href="https://www.benzinga.com/topic/multiple-sclerosis">recently diagnosed relapsing multiple sclerosis</a>.
Recently diagnosed is defined as untreated patients starting treatment within three years of initial diagnosis.
These efficacy outcomes included 44% fewer relapses; 96.4% and 82.7% reductions in MRI lesions (Gd+ T1 and neT2), respectively; and 24.5% and 21.6% fewer 3- and 6-month confirmed disability worsening (CDW) events, respectively, versus those who switched from Sanofi SA&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) Aubagio (teriflunomide) to Kesimpta.
In the first analysis, the low annualized relapse rate (ARR) experienced by recently diagnosed treatment-naïve RMS patients was further reduced in the ALITHIOS open-label extension study, from 0.104 to 0.050 (52.0% reduction), corresponding to an adjusted ARR of one relapse per 20 years.
<ul>
<li>Rates of 3- and 6-month progression independent of relapse activity (PIRA) with first-line Kesimpta were also lower versus switch.</li>
<li>The observed rapid increase in the proportion of participants with no evidence of disease activity (NEDA-3) with continuous first-line Kesimpta treatment was maintained up to six years.</li>
<li>Patients initially randomized to teriflunomide, improvements across several efficacy outcomes were seen after switching to Kesimpta, including significant reductions in ARR (71.3%) and in MRI lesion activity (Gd+ T1: 98.5% reduction; neT2: 93% reduction), and rapid increase in rates of NEDA-3.1.</li>
<li>Rates of 3- and 6-month CDW events remained higher compared to patients receiving continuous Kesimpta, indicating that the efficacy benefit of first-line Kesimpta on delaying disability worsening was not fully achieved in the switch group.</li>
</ul>
The second analysis looked at the overall ALITHIOS population:
<ul>
<li>Data showed sustained efficacy of continuous Kesimpta up to six years, including low ARR (49.9% reduction between core Phase III trials and extension phase), suppression of MRI lesion activity (Gd+ T1: 56.7% reduction; neT2: 89.3% reduction), sustained reduction of 6-month CDW events (14.1%, relative to the switch group), lower rates of 6-month PIRA, and sustained high rates of NEDA-3.2.</li>
<li>People switching from teriflunomide to Kesimpta experienced reductions in ARR (73.8%) and MRI lesion activity (Gd+ T1: 97.7% reduction; neT2: 91.8% reduction) and a rapid increase in NEDA-3 rates during the extension period.</li>
</ul>
Treatment with Kesimpta for up to six years was well-tolerated with no unexpected safety signals identified.
In fiscal year 2023, Kesimpta&#8217;s sales almost&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/01/36865238/why-is-european-pharma-giant-novartis-stock-trading-lower-today" rel="noreferrer noopener">doubled to $2.2 billion</a>.
Price Action: NVS shares are up 0.15% at $93.34 on the last check Wednesday.
Now Read: <a href="https://www.benzinga.com/general/biotech/24/04/38296093/sanofis-multiple-sclerosis-antibody-shows-reduction-of-disease-activity">Sanofi&#8217;s Multiple Sclerosis Antibody Shows Reduction Of Disease Activity</a>

Novartis Multiple Sclerosis Drug Kesimpta Shows Substantial Benefit Of Up To 6 Years

Sanofi SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) <a href="https://www.sanofi.com/en/media-room/press-releases/2024/2024-04-17-05-00-00-2864225" target="_blank" rel="noreferrer noopener">reported</a> Wednesday new data from a Phase 2 study in relapsing multiple sclerosis.
What Happened: The company&#8217;s CD40L antibody, frexalimab, demonstrated sustained reduction of disease activity. It also demonstrated favorable tolerability after nearly one year in participants with relapsing multiple sclerosis. 
"These 48-week data showed that treatment with frexalimab resulted in further decreases in the number of lesions and a sustained reduction in disease activity. The preliminary clinical results are promising with a very low annual relapse rate," said Patrick Vermersch.
Also Read: <a href="https://www.benzinga.com/general/biotech/24/04/38091091/in-heart-burn-drug-zantacs-litigation-saga-sanofi-nears-settlement-in-major-lawsuit-cluster" target="_blank" rel="noreferrer noopener">In Heart Burn Drug Zantac&#8217;s Litigation Saga, Sanofi Nears Settlement in Major Lawsuit Cluster</a>.
Results of the phase 2 OLE at week 48 showed:
<ul>
<li>96% of patients who continued receiving high-dose frexalimab. Eighty-seven percent of those who continued receiving low-dose frexalimab were free of Gd+ T1 lesions at week 48, respectively. </li>
<li>Additionally, among patients who switched from placebo to high and low-dose frexalimab at the start of the open-label extension (OLE) at week 12, declines were seen at Week 24, and 90% and 92% were free of Gd+ T1 lesions at week 48, respectively.</li>
<li>The number of Gd+ T1-lesions (mean [SD]) remained low in participants who continued receiving frexalimab (high dose: 0.0 [0.2]; low dose: 0.2 [0.5]) and continued to decline in those who switched from placebo to frexalimab at week 12 (high dose: 0.2 [0.6]; low dose: 0.1 [0.3]).</li>
<li>The number and volume change of new or enlarging Gd+ T2-lesions remained low through week 48. </li>
<li>Lymphocyte counts remained stable.</li>
<li>Participants who continued receiving high-dose frexalimab experienced a low annualized relapse rate (ARR) of 0.04 over the 48-week treatment period. Up to 96% were free of relapses. </li>
<li>ARR in the initial low-dose arm was 0.22, and ARR in patients who switched to high and low-dose frexalimab were 0.09 and 0.40, respectively, through week 48.</li>
<li>Frexalimab was generally well-tolerated through week 48.&nbsp;</li>
</ul>
Price Action: SNY shares are up 0.37% at $45.97 on the last check Wednesday.

Sanofi's Multiple Sclerosis Antibody Shows Reduction Of Disease Activity

<ul>
<li>Data support frexalimab as a potential first-in-class, high-efficacy, non-lymphocyte depleting treatment for relapsing multiple sclerosis</li>
<li>96%&nbsp;of participants receiving high-dose intravenous frexalimab had no new Gd+ T1 lesions and an annualized relapse rate of 0.04 after 48 weeks</li>
<li>Sanofi has initiated global phase 3 studies of frexalimab in relapsing MS and non-relapsing secondary progressive MS</li>
</ul>

Sanofi's CD40L Antibody: New 48-Week Phase 2 Data Support Frexalimab's Potential For High Sustained Efficacy In Multiple Sclerosis

IPHA

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Bristol, Sanofi, Takeda gain positive CHMP recommendations

Kepler Capital analyst Christopher Richardson, CFA maintained a Hold rating on Sanofi (SNYNF – Research Report) on April 25 and set a price target ...

Kepler Capital  Keeps Their Hold Rating on Sanofi (SNYNF)

Deutsche Bank analyst Emmanuel Papadakis maintained a Sell rating on Sanofi (SNYNF – Research Report) today and set a price target of €80.00. The c...

Deutsche Bank Reaffirms Their Sell Rating on Sanofi (SNYNF)

Sanofi: Q1 Earnings Reflect Growth And Strategic Acquisitions (Rating Upgrade)

Sanofi Q1: Wait And See For Now (Downgrade)

Regeneron falls after Q1 miss; announces $3B share buybacks

Sanofi SA (SNY) has released an update. Sanofi's new treatment for relapsing multiple sclerosis, frexalimab, has shown promising 48-week phase 2 re...

Sanofi's Frexalimab Shows Promise in MS Trial

Pharma R&D productivity seen improving for the first time in years - Deloitte

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Editor&rsquo;s note: &ldquo;How the Medical Industry Could Produce the Biggest AI Stock Winners&rdquo; was previously published in April 2024. It has since been updated to include the most relevant information available.



A bulk of the AI-related headlines that dominate the mainstream media have been centered around software developers and their AI assistants, like OpenAI&rsquo;s ChatGPT and Microsoft&rsquo;s (<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>) Copilot. But the biggest AI stock boom is happening in an entirely different sector. And for the most part, it&rsquo;s gone largely unnoticed.



We&rsquo;re talking about <a href="https://investorplace.com/industries/healthcare/biotech/">biotech stocks</a>.



Between early November 2023 and late February 2024, the SPDR S&amp;P Biotech ETF (<a href="https://investorplace.com/stock-quotes/xbi-stock-quote/">XBI</a>) soared more than 55%. And certain biotech stocks rocketed much more.



Year-to-date, Elevation Oncology (<a href="https://investorplace.com/stock-quotes/elev-stock-quote/">ELEV</a>) is up more than 600%. Skye Bioscience (<a href="https://investorplace.com/stock-quotes/skye-stock-quote/">SKYE</a>) is up nearly 380%, and Corbus Pharmaceuticals (<a href="https://investorplace.com/stock-quotes/crbp-stock-quote/">CRBP</a>) is up more than 525%.



<a href="https://investorplace.com/wp-content/uploads/2024/03/biotech-ytd-performance.png"><img src="https://investorplace.com/wp-content/uploads/2024/05/biotech-ytd-performance-may-24.png" alt=""></a>Why the huge breakout in biotech?



In part, it&rsquo;s thanks to AI. And considering that this powerful emerging technology is still in its infancy, we think there&rsquo;s a ton of room for these stocks to run.







<h2>It&rsquo;s All About the Data</h2>



AI&rsquo;s application in biology holds the potential to unlock enormous economic value for one simple reason: data.



The more data, the better the AI.



And when it comes to the human body, there is no dearth of quality data. In fact, there is more high-quality data than anywhere else on Earth.



That&rsquo;s because, like computers, humans are really nothing more than a bunch of data strung together.



At their core, computers are just a bunch of 1s and 0s coded in sequence, with each number corresponding to a certain action for the computer to perform. Humans, similarly, are a bunch of As, Gs, Cs, and Ts strung together &ndash; or the four base types found in human DNA molecules &ndash; with each determining a person&rsquo;s characteristics, traits, and even actions.



<a href="https://investorplace.com/wp-content/uploads/2023/05/chromosome-dna-gcats.png"><img src="https://investorplace.com/wp-content/uploads/2023/05/chromosome-dna-gcats.png" alt=""></a>Humans are full of data.



Apply AI to all that data, <a href="https://secure.investorplace.com/?cid=MKT793088&amp;eid=MKT802946&amp;step=start&amp;plcid=PLC208044">and you will change the world.</a>



<h2>Revolutionizing Medicine With AI</h2>



The human body has proven to be quite a complex thing. There&rsquo;s certainly no scarcity of illness or disease that impact folks around the world. And while humanity has made great strides in discovering treatments and cures, countless afflictions remain a reality. 



But AI has the potential to solve the myriad problems that plague all humans.



Consider this: It takes about $900 million and 13.5 years to develop a new successful drug.



The drug development process is so expensive and time-consuming that firms cannot afford to push that many drugs forward. This creates a huge shortage in drug candidates and programs relative to what is possible given all the permutations of human biological data.



But AI can significantly shorten and cheapen this process.



Why does it take so long to find new drugs? Because the universe of biological data is enormous. It takes scientists great effort to sort through all the data, uncover the root causes of diseases, and formulate compounds to fight those diseases.



But AI can automate that entire process. It can map out genetic data, identify mutations, and run simulations to find the right compounds and combat those mutations &ndash; all almost instantly. 



Essentially, researchers can use AI to find new drug candidates much faster than is currently possible.



And this is already happening. 



Last year, Japanese pharma giant Takeda Pharmaceutical (<a href="https://investorplace.com/stock-quotes/tak-stock-quote/">TAK</a>) bought an experimental psoriasis drug for $4 billion &ndash; a drug that was created in only six months by using AI.



It isn&rsquo;t alone.



Other pharma giants like Bayer, Roche, Sanofi (<a href="https://investorplace.com/stock-quotes/sny-stock-quote/">SNY</a>) and AstraZeneca (<a href="https://investorplace.com/stock-quotes/azn-stock-quote/">AZN</a>) are actively using AI technology for drug discovery purposes.



The future of AI-powered drug discovery starts now.



<a href="https://secure.investorplace.com/?cid=MKT793088&amp;eid=MKT802946&amp;step=start&amp;plcid=PLC208044">This is big business.</a>







<h2>The Final Word</h2>



Research firm Deep Pharma Intelligence estimates that investments in the field of AI-powered drug discovery have tripled over the past four years to nearly $25 billion. 



Morgan Stanley believes this tech will lead to an additional 50 novel therapies being brought to market over the next decade, with annual sales in excess of $50 billion!



<img src="https://investorplace.com/wp-content/uploads/2023/08/ai-drug-development.png" alt="">In other words, a $50 billion AI drug discovery revolution starts now.



And, of course, AI&rsquo;s applications in healthcare aren&rsquo;t limited to discovering viable drug candidates.



In fact, back in March, Nvidia (<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) held its GPU Technology Conference (GTC), an event for AI developers and enthusiasts. And the tech titan revealed that it&rsquo;s partnering with Johnson &amp; Johnson (<a href="https://investorplace.com/stock-quotes/jnj-stock-quote/">JNJ</a>). The two will develop AI to help doctors perform surgery.



This is a huge development. After all, according to Nvidia, &ldquo;J&amp;J MedTech is in 80% of the world&rsquo;s operating rooms and trains more than 140,000 healthcare professionals each year.&rdquo; It&rsquo;s very likely that within the next decade, almost all surgeries will be at least partially automated by AI.



The potential that artificial intelligence holds for the healthcare industry is enormous. And as such, it&rsquo;s high time to bulk up your portfolio with top-of-the-line <a href="https://investorplace.com/industries/technology/artificial-intelligence/">AI stocks</a>.



<a href="https://secure.investorplace.com/?cid=MKT793088&amp;eid=MKT802946&amp;step=start&amp;plcid=PLC208044">Discover which high-octane stocks we&rsquo;re piling into.</a>



On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.



P.S. You can stay up to speed with Luke&rsquo;s latest market analysis by reading our Daily Notes! Check out the latest issue on your&nbsp;<a href="https://investorplace.com/innovationinvestor/">Innovation Investor</a>&nbsp;or&nbsp;<a href="https://investorplace.com/earlystageinvestor/">Early Stage Investor</a>&nbsp;subscriber site.
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	The post <a href="https://investorplace.com/hypergrowthinvesting/2024/05/how-the-medical-industry-could-produce-the-biggest-ai-stock-winners/">How the Medical Industry Could Produce the Biggest AI Stock Winners</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

How the Medical Industry Could Produce the Biggest AI Stock Winners

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BGNE

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CRBP

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DAWN

DCPH

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ELEV

GLAXF

INCY

IOVA

JBPHF

KTRA

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NVCR

NVDA

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RHHBY

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SKYE

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Press Releases

Innate Pharma Announces Licensing of a Fourth Natural Killer Cell Engager in Oncology to Sanofi

Scribe Therapeutics Expands In Vivo Collaboration with Sanofi to Second Target

Acurx Pharmaceuticals' Phase 2b Results For Ibezapolstat Bests Standard Of Care Vancomycin To Treat C. Difficile ($ACXP)

Biodexa CEO Issues Shareholder Letter Highlighting Progress in 2023 and Expected Milestones in 2024

Inhibrx Announces Sale of INBRX-101 to Sanofi for an aggregate value of up to $2.2B

Synthekine Announces Strategic Collaboration with Sanofi to Develop Selective IL-10 Agonists for Treatment of Inflammatory Diseases