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- Merck Lifts Outlook on a Lower Tax Rate: Rapid Earnings Reaction
Merck's third-quarter sales rose 5% to about $18.1 billion, but about $550 million of the gain came from the timing of customer purchases, and the article says sales barely grew without it. Keytruda Qlex sales reached $830 million, up from $463 million last quarter, and Winrevair sales rose 93% to $694 million, partly offsetting generic erosion of older drugs such as Januvia and Bridion, where Bridion sales fell 67%. GAAP EPS fell 12% to $2.04 and adjusted EPS fell 3% to $2.49, as spending on launches and research and higher interest expense outpaced sales, though a lower tax rate softened the hit. Merck lowered its non-GAAP tax-rate outlook to 32% to 33% from 35% to 36%, which the article says does much of the lifting in the raised full-year earnings outlook. Shares rose about 5% in Thursday morning trading, and the article flags fourth-quarter sales and Qlex's share of Keytruda sales, now nearly 10%, as items to watch.
- Merck tops quarterly estimates, hikes profit outlook as new form of Keytruda shows strength
Merck beat third-quarter estimates, reporting adjusted earnings of $2.49 per share versus $2.08 expected and revenue of $18.09 billion, up 5% from a year earlier. The company raised its full-year adjusted earnings outlook to $2.77–$2.82 per share from $2.66–$2.76, although the guidance now includes a one-time $400 million charge, or 12 cents per share, tied to a licensing agreement with Chinese cancer drugmaker SciBrunch. Keytruda sales reached $8.60 billion, above the $7.73 billion analysts expected, including $830 million from the injectable Keytruda Qlex versus $649 million expected. Merck is moving patients from the intravenous Keytruda to Qlex to defend market share as key Keytruda patents begin expiring in 2028. Winrevair sales rose 93% to $694 million, and Gardasil drew about $2 billion on higher U.S. demand.
- Doctors call Moderna, Merck cancer vaccine data a major advancement — despite Wall Street reaction
Six melanoma specialists told CNBC that Phase 3 results for Moderna and Merck's personalized cancer vaccine, intismeran autogene, given with Keytruda represent a clinically meaningful advance. The combination reduced the risk of melanoma recurrence or death by 42% and the risk of distant spread or death by 38% compared with Keytruda alone, in a trial of roughly 1,100 patients whose tumors were surgically removed. Doctors said it could eventually become a standard of care for patients who have surgery first and have not received immunotherapy beforehand, though questions remain about survival benefit and which patients benefit most. Moderna shares fell as much as 25% on Thursday after partial data leaked on social media, even though the stock is up nearly 600% this year on optimism about the cancer shot. Moderna is finishing a regulatory filing and aims to get the drug fully approved next year.
- Moderna's Stock Just Stumbled. Is It a Buy on the Dip?
Moderna shares fell 17% in one session after leaked data from a phase 3 trial of intismeran autogene combined with Merck's Keytruda, though the leaked results showed the drug combo cut the risk of recurrence or death by 42% in certain melanoma patients versus Keytruda alone, and by 58% after six months. The stock has still climbed more than 500% this year, trading near $200 versus an average Wall Street 12-month price estimate of $135. The author sees the dip as possibly a buying opportunity for long-term investors who want to open or add to a position, while cautioning that the stock remains sensitive to trial data and may see further pullbacks. Moderna currently has four commercialized products in the U.S., all respiratory vaccines.
- Moderna Sinks 4% After 18% Plunge as Melanoma Vaccine Selloff Extends; Merck and Pfizer Slip
Moderna shares fell 4% to $193.62 in morning trading, extending an 18% plunge from the prior session, even though full late-stage data for its personalized melanoma vaccine, given with Merck's Keytruda, came back positive. Compared with Keytruda alone, the combination cut the risk of melanoma recurrence or death, a result near analyst expectations but short of the highest hopes built during a rally that began in August. The vaccine carries far more weight for Moderna, whose approved products are all respiratory vaccines, while for Merck it is an add-on to Keytruda; Merck fell 0.8% to $146 and Pfizer 0.7% to $30.22. The iShares Biotechnology ETF was unchanged at $209.54, suggesting the slide is company-specific. The full data will be presented at a medical conference this weekend.
- Merck CEO tells CNBC he expects breakthrough cancer vaccine will become faster to make
Merck CEO Rob Davis told CNBC that the personalized cancer vaccine developed with Moderna currently takes about six weeks from tumor sequencing to hospital delivery, and he expects that timeline to shorten over time, though supply and market readiness come first. The vaccine targets each patient's unique tumor mutations and is paired with Keytruda; in August, the companies released positive early data from a late-stage melanoma trial. Merck also opened a 120,000-square-foot R&D facility in West Point, Pennsylvania, as Keytruda nears loss of exclusivity, with its core U.S. compound patent expiring in December 2028. The company plans $65 billion in external acquisitions and licensing deals over five years to bolster its pipeline. A Dutch court has blocked Merck from selling subcutaneous Keytruda in eight European countries, and Merck says it will appeal.
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- Nasdaq 100 Futures Dip On Weak Intel, Amazon Earnings With Bloated Capex Worries Weighing On Sentiment — AMZN, INTC, SBUX, PLTR, ASTS In Focus
U.S. stock indices closed lower on Thursday and extended declines after hours as Amazon's bloated capital expenditures fed investor fears that the AI capex cycle may have gotten ahead of itself. During the session, the Nasdaq 100 fell 1.4% and the S&P 500 lost 0.3%, while the Russell 2000 gained 1%. Amazon (AMZN) shares dropped about 7% after hours after it spent upwards of $77 billion on property and equipment in the third quarter, producing a free cash outflow of $42.4 billion, even as revenue rose 12% to $201.9 billion. Intel (INTC) shares tumbled about 17% after hours after it forecast weaker-than-expected fourth-quarter revenue and earnings amid a PC sales slump and supply bottlenecks. On the other side, JPMorgan turned bullish on Palantir (PLTR), forecasting a stock rally of more than 30%.
- Andy Jassy says Prime Video is on track to earn ‘tens of billions of dollars’
Amazon bought MGM for $8.5 billion four years ago, and Hollywood has since become a lucrative business for the company. CEO Andy Jassy said on the earnings call that Prime Video has a revenue run rate in the tens of billions of dollars and is now profitable on its own, after he had earlier said in May only that it was profitable. Amazon MGM Studios has brought in more than $1.2 billion in global box office so far this year, with Project Hail Mary grossing an estimated $684 million worldwide. Season 4 of Reacher drew 66 million global viewers in its first 28 days, and the first six Thursday Night Football games averaged 17.7 million viewers, up 16% from last year according to Nielsen.
- The State Bank of Vietnam considers a capital transaction mechanism for the International Financial Centre
While VIFC-HCMC has no member banks yet, the State Bank of Vietnam is considering allowing businesses to keep accounts at domestic banks to carry out some capital transactions, under a mechanism similar to that for foreign loans and overseas lending. Deputy Governor Pham Thanh Ha stressed that serving banks must be closely supervised and able to identify each transaction, and the SBV will soon consider licensing banks as members while studying proposals on licensing conditions and credit limits. Some businesses, including Sovico, have asked to use direct investment capital accounts (DICA) at banks outside the centre during the transition to complete transactions in Q4 2026, and to amend some conditions under Decree 329. Sovico also proposed a withholding tax exemption for aircraft leasing and financing transactions and a sandbox trial for tokenising aircraft and engines. Deputy Minister of Finance Nguyen Thi Bich Ngoc said financial products should be rolled out step by step, and the ministry has compiled the proposals for the competent authority.
- AWS will be a $1T business, Jassy says. But first, it will spend big.
Jassy reiterated that AWS can become a trillion-dollar revenue business within the next five to 10 years. Amazon still expects 2026 cash capex of about $220 billion, mostly for AWS, and plans to spend meaningfully more in 2027. AWS revenue rose 39% year over year, its sixth straight quarter of steady growth, and the company expects AWS to grow north of 40% in both 2027 and 2028, with an annualized run-rate of $184 billion. Jassy called the AI boom a 'once in a lifetime opportunity' and said Amazon can fund the plan, but investors remained concerned and shares fell about 6% in after-hours trading.
- Micron Is Trading for Less Than 6 Times Forward Earnings. Here's Why That's a Sign to Buy.
The author argues Micron (MU) is among the cheapest stocks in the market, trading at 5.2 times forward earnings on Oct. 29 versus 19.2 times for the S&P 500. The article links the discount to the cyclical memory-chip industry, where the current boom could be followed by a severe downturn. The author believes the market is misjudging this, citing Micron's long-term supply agreements with ceiling and floor prices that could steady its revenue. Micron has said the 2027 and 2028 memory markets will be tighter than 2026, with new capacity coming online from mid-2027 through 2028. The author states that even at 15 times forward earnings, the stock could triple.
- Gold bar and gold ring prices today (30/10) at SJC, DOJI, Phú Quý, PNJ, Bảo Tín Minh Châu...: How much per chỉ?
Domestic gold prices were unchanged from the previous session's close early on 30/10. Gold bars at SJC, DOJI, Phú Quý and PNJ were quoted at 139.7–142.7 million VND per lượng (buy–sell), while SJC gold rings were at 135.5–139.5 million VND per lượng. Globally, spot gold fell 1.4% to $4,008.76/ounce in the 29/10 US session, and December futures dropped 0.5% to $4,031.40/ounce. The decline reflected stronger-than-expected US data, including Q3 GDP growth of 3.4% and a 0.5% month-on-month rise in September PCE, which heightened inflation concerns. Reuters reported markets price about an 80% chance the Fed raises rates in December, making non-yielding gold less attractive to investors.
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