BlackRock's bitcoin ETF IBIT experienced a $300 million outflow as demand for bitcoin ETFs declined, with U.S. spot bitcoin ETFs losing a net $231 million on Monday. This outflow contrasts with rising risk appetite in other markets, particularly in Asia, where technology stocks and AI-related sectors are surging. The MSCI Asia Pacific index rose 1%, and South Korea's Kospi climbed 2.1%, driven by strong performances from Samsung and SK Hynix. Investors are favoring AI infrastructure and semiconductor stocks over bitcoin, reflecting a shift in capital towards these growth areas.
Axsome Therapeutics received an "Outperform" rating from BMO Capital due to significant progress in its drug pipeline, including FDA acceptance of its NDA for AXS-12, a narcolepsy treatment with a PDUFA date set for May 1, 2027. The company is also a...
Novartis is set to report its Q2 earnings with analysts expecting an EPS of $2.17 and revenue of $14.07 billion, following a tough Q1 affected by major patent expirations. Despite revenue challenges, the company maintained strong cash flow of $3.30 b...
KeyCorp is set to report earnings with analysts forecasting a 20% increase in earnings per share to $0.42 and an 8% rise in total revenue to $1.97 billion. The growth is mainly driven by a 10% increase in net interest income, fueled by strong commerc...
Several biotech and manufacturing companies saw significant stock declines due to key corporate events. Vision Marine Technologies dropped nearly 24% after shifting its focus from boat manufacturing to a mining project, causing investor uncertainty. ...
Shares of Zhengye Biotechnology surged over 1047% to regain Nasdaq compliance after a minimum bid price warning. Advanced Biomed and Axe Compute also saw notable gains following a reverse stock split and Russell Microcap Index inclusion, respectively...
