The US pending home sales index fell 2.3% in July, missing expectations of a slight rise, as high mortgage rates and record home prices continue to deter buyers. Sales declined across all regions month-over-month, with year-over-year drops in most areas except the Midwest. Despite job gains and potential pent-up demand, affordability issues and elevated rates are slowing contract signings. Economists view pending sales as a leading indicator for actual home sales, highlighting ongoing challenges in stabilizing the housing market.
Argenx reported successful Phase 3 clinical trial results for its drug VYVGART Hytrulo, targeting autoimmune myositis, especially benefiting patients with IMNM who lack approved therapies. The trial met its primary endpoint with statistically signifi...
Morgan Stanley increased its price target for Targa Resources to $343, maintaining an Overweight rating due to the company's strong Q2 results and growth outlook. Targa Resources exceeded profit estimates with a 38% rise in adjusted EBITDA, driven by...
Amer Sports reported strong Q3 results with earnings per share of $0.22, doubling analyst expectations and up from $0.06 last year. Revenue reached $1.63 billion, surpassing the $1.54 billion consensus and showing significant growth from $1.24 billio...
Home Depot reported strong quarterly results with earnings per share of $4.92 and revenue of $47.86 billion, both surpassing analyst expectations. This growth comes amid a 'frozen housing market' where customers prefer smaller maintenance projects du...
Toll Brothers, a luxury homebuilder, is set to report Q3 earnings with an expected EPS of $2.93 and revenue of $2.62 billion, down from last year's $3.73 EPS and $2.95 billion revenue. The decline is mainly due to high mortgage rates reducing demand ...
