Track market-moving stories before they get noisy

Pinterest (PINS.N) said on Friday Chief Financial Officer Julia Donnelly will ​leave on October 30, and the ‌company has launched an external search for its next finance chief.

Vikram Naidu, the image-sharing platform's ​vice president of finance and business ​operations, will be principal financial officer in ⁠the interim.

Donnelly's "leadership helped support a period ​in which we delivered 11 consecutive quarters ​of double-digit revenue growth, significantly increased operating rigor and expanded margins to ensure the ongoing health of ​our business," CEO Bill Ready said ​in a memo to employees.

Donnelly — who is leaving ‌to ⁠pursue an opportunity at a private, early-stage company — joined Pinterest in 2023, from online furniture retailer Wayfair, where she was the ​global head ​of ⁠finance.

The tenure saw Pinterest completing its acquisition of connected-TV advertising platform ​tvScientific and a $4 billion cloud-services ​partnership ⁠with Amazon Web Services.

The company forecast slower third-quarter revenue growth earlier this month, a sign ⁠of ​tough competition for digital advertising ​from bigger players including Meta's Instagram.

(This story has been refiled to correct Donnelly's name in the bullet points.)

Micron Technology Inc. (NASDAQ:MU) stock is down in early Friday trading as investors weighed a softer tech backdrop against strong AI-driven memory demand, elevated pricing and fresh policy uncertainty.

Nasdaq futures slipped 0.25%, while S&P 500 futures edged up 0.01%. The move also follows Micron’s sharp 12-month advance, with the stock consolidating near short-term trend levels.

• Micron Technology stock is trending lower. Why are MU shares declining?

Nvidia Reinforces Tight Memory SupplyMicron remains at the center of a powerful AI-driven memory cycle, but investors continue to balance strong demand against rising costs and elevated expectations.

The stock also fell Thursday as investors took profits following a 189.28% year-to-date gain.

The pullback came after Nvidia’s earnings reflected both the strength and supply constraints surrounding AI infrastructure.

Nvidia CFO Colette Kress said the company faces "extreme pricing conditions in memory," adding that price increases have exceeded prior expectations and could climb further next year.

Nvidia sources high-bandwidth memory from Micron, SK Hynix and Samsung.

Nvidia CEO Jensen Huang said demand could grow about 100% next year, while supply constraints limit expected revenue growth to roughly 70%.

Gartner Sees Memory Driving Semiconductor GrowthGartner expects sustained AI infrastructure spending and higher memory prices to push worldwide semiconductor revenue up 92% to about $1.6 trillion in 2026 and roughly $1.9 trillion in 2027.

The firm forecasts memory revenue will surge from $220.1 billion in 2025 to $837.3 billion in 2026 and exceed $1 trillion in 2027.

Gartner expects DRAM revenue to rise 246.6% this year and NAND revenue to jump 371.9%, keeping Micron, Samsung and SK Hynix in focus.

Trump Highlights Micron’s U.S. ExpansionPresident Donald Trump praised Micron’s new $10 billion U.S. research investment, which adds to its earlier $250 billion commitment to domestic manufacturing.

Micron previously announced Micron Research Labs, anchored by a Boise, Idaho, campus focused on memory and AI technologies.

Micron is also the only U.S.-based manufacturer of high-bandwidth memory, which the administration views as important to domestic AI supply-chain security.

Semiconductor Tariffs Add Policy RiskThe Trump administration is reportedly considering new semiconductor tariffs covering products including data center servers, laptops and gaming consoles.

Technology companies have pushed back, warning that higher costs could slow the AI data-center buildout.

For Micron, the setup combines strong memory demand and expanding U.S. investment with rising costs, tariff uncertainty and high investor expectations after the stock’s sharp rally.

Earnings & Analyst OutlookLooking further out, the next major catalyst for the stock arrives with the Sept. 30 (confirmed) earnings report.

EPS Estimate: $31.26 (Up from $3.03 year-over-year) Revenue Estimate: $50.78 billion (Up from $11.31 billion YoY) Valuation: P/E of 21.1x (Suggests fair valuation relative to peers) Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average consensus price forecast of $1,303. Recent analyst moves include:

Mizuho: Outperform (Lowers target to $1,300 on Aug. 25) New Street Research: Upgraded to Buy (Forecast $1,250 on Aug. 14) Citigroup: Buy (Lowers target to $1,150 on Aug. 7) Top ETF Exposure iShares Semiconductor ETF (NASDAQ:SOXX): 7.98% Weight Invesco S&P 500 Momentum ETF (NYSE:SPMO): 9.81% Weight Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ): 7.82% Weight Significance: Because Micron carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely trigger automatic buying or selling of the stock.

MU Price ActionMicron Technology shares were down 0.20% at $935 during early trading on Friday, according to Benzinga Pro data.

Photo: Shutterstock

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© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Nvidia's (NVDA -4.58%) fiscal 2027 second-quarter earnings report was less of a quarterly update than it was a reminder that the company sits at the center of the artificial intelligence (AI) infrastructure build-out. Total revenue reached $96.2 billion, more than double the $46.7 billion posted a year ago and up 18% from the prior quarter. The more striking comparison, however, sits inside the underlying mix of Nvidia's sales.

The company's data center segment generated $89 billion alone. This single franchise now produces more sales than Nvidia's entire company did one year ago. These figures are proving that the hyperscaler capital expenditure (capex) boom is no longer an abstract backdrop. Cloud providers and AI infrastructure developers are adding capacity at full speed, and Nvidia is converting on that spend with unprecedented efficiency.

With that said, Nvidia's print did contain a quieter signal that may matter even more for the next name in the AI chip value chain: Micron Technology (MU -0.27%). Nvidia's management guided for a lower gross margin, and the explanation pointed directly at memory. This means that Nvidia is paying a premium for the stacks that sit beside its GPUs, making pricing power flow to memory suppliers like Micron.

Image source: The Motley Fool.

Nvidia's blowout quarter underscores its scale and dominance Nvidia's numbers leave little room for understatement. Gross margin came in at 75%, essentially unchanged sequentially and up by 2.6 points from a year ago. Operating income rose 19% sequentially and 124% year over year to $63.7 billion. Meanwhile, net income was $59.7 billion, or $2.46 per share.

Within the data center book, hyperscale customers contributed $48.7 billion of revenue -- an increase of 102% year over year. It's clear that Nvidia is far from demand constrained, a distinction that showed up in both the beat against its own outlook and the size of the upcoming guide. Guidance is the other half of the print that I am more focused on. For the third quarter, Nvidia expects to generate revenue of $108 billion, plus or minus 2%. Of note, the company is assuming no compute sales to China.

Perhaps the most revealing line in the company's outlook is its gross margin. Generally accepted accounting principles (GAAP) and non-GAAP (adjusted) gross margin are both expected to be 74%, plus or minus 50 basis points. That is a full point below the margin Nvidia just delivered. Furthermore, management explained that gross margin is expected to bottom somewhere between 71% and 72% by the fourth quarter before recovering in fiscal 2028.

What is eating into Nvidia's margin? Nvidia Chief Financial Officer Colette Kress was direct about the cause of the eroding margins. The step-down is clearly not a demand problem, nor is it a sudden collapse in Nvidia's pricing power with customers. Instead, it has to do with the rising cost of memory.

High bandwidth memory (HBM) is no longer a commodity add-on in chip clusters. Rather, it has quickly become a co-equal component of the accelerator package. Kress told investors that Nvidia's commitments for critical components increased from $119 billion last quarter to $279 billion, saying it was "primarily related to the procurement of memory."

I see Nvidia's margin cut as a positive signal for Micron. When a customer as large and as sophisticated as Nvidia accepts a lower gross margin outlook and cites memory prices as the culprit, it confirms the bottleneck is moving downstream into DRAM and HBM. Micron is one of a few producers that can supply the stacked memory AI platforms require.

Higher commitments from Nvidia are, by definition, higher realized average selling prices for memory vendors like Micron on the other side of the purchase order. Said differently, the same hyperscaler capex cycle fueling Nvidia's growth is now filling Micron's supply. The difference is that Micron is positioned to capture the inflation from component prices that Nvidia can no longer treat as a stable cost.

Premium Feature

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Nvidia's earnings performance is a preview for Micron Investors no longer need to guess whether the AI infrastructure cycle is meaningful enough to reprice memory. Nvidia's lower margin guide just confirmed that it is. The dollars leaving Nvidia's gross margin are not disappearing. Instead, they accrue to companies like Micron, which are shipping HBM and adjacent DRAM into Nvidia's racks.

In my eyes, the prudent response is to watch Micron with the same intensity reserved for Nvidia. If the cost pressures Nvidia described are real, then Micron is positioned for the kind of print that should reset expectations and, potentially, the stock's momentum. The bull thesis around Micron stock is no longer a "hopium trade" attached to a historically cyclical name. Instead, it is quietly becoming an extension of Nvidia's own trajectory.

GameStop (GME.N) said on Monday it expects second-quarter net sales to decline due to planned store closures and ​the sale of its France operations.

The videogame retailer expects quarterly ‌net sales in the range of $780 million to $800 million on a preliminary basis, compared with $972.2 million reported a year ago.

Still, GameStop's shares rallied 5% in premarket ​trading after the company said it would pay about 27% of ​a previously announced $1.4 billion debt exchange through cash on hand ⁠instead of issuing new stock. That would prevent shareholders from suffering ​more dilution.

GameStop has been pursuing a high-profile takeover of the much larger ​eBay (EBAY.O) and has built a nearly 10% stake in the online auction site even after suffering a rejection in May. Bloomberg News reported earlier this month it could pull ​the bid and instead focus on a partnership or venture with the ​e-commerce company.

While the takeover proposal attracted significant attention on Wall Street and among retail investors, it ‌drew widespread ⁠skepticism from analysts, who questioned how GameStop would finance the acquisition and highlighted the limited overlap between the companies' core businesses.

GameStop said it expects cash, cash equivalents and marketable securities to be in the range ​of $5.05 billion to $5.07 billion, ​compared with $8.69 ⁠billion at the close of the prior year's second quarter.

It expects quarterly net income between $290 million and $310 million, versus $168.6 ​million reported a year earlier.

Net income for the quarter ​includes about $238 ⁠million in net gains stemming from the eBay derivative asset and equity investment, partially offset by a loss of roughly $75 million on digital assets ⁠and related ​receivables.

GameStop, which has shifted focus from traditional hardware sales ​toward trading cards and collectibles, is scheduled to report its second-quarter results on September 8.

This report is from this week's The Tech Download newsletter. Like what you see? You can subscribe here.

Who remembers the phrase "BBM me?"

In its heyday, BlackBerry was one of the biggest phone makers in the world. BlackBerry Messenger (BBM) was the instant messaging service that became a fixture of early smartphone culture. But while, BlackBerry remains an iconic brand, its business today looks vastly different from what it was nearly two decades ago.

While far off its 2008 highs, BlackBerry's share price has doubled this year as investors reward the company's strategy to focus on critical software for cars and secure communications. 

John Giamatteo, CEO of BlackBerry, joined me for the latest episode of "The Tech Download" to discuss how the company is positioning for a future in AI.

"While the products that we offer to our customers around the world can't necessarily be held in the palm of your hands like the old devices, those values of security, trust and innovation still shine through in the software and services and the other solutions that we deliver to the market today," Giamatteo said as he summed up the current business.

watch now

New look business modelTwo businesses drive the bulk of BlackBerry's revenue. 

The first is secure communications. BlackBerry sells encrypted and secure communications products to customers like governments.

The second is QNX, a business through which BlackBerry sells operating systems and other embedded software for cars to underpin features ranging from braking systems to some semi-autonomous driving functions.

QNX has become a strong player in safety-critical automotive software and is embedded in 275 million vehicles, according to BlackBerry.

But Giamatteo sees the QNX business as key to a future in AI, specifically, physical AI, a term that encompasses products like autonomous cars and robotics. BlackBerry has crafted its software to have high safety standards, a non-negotiable for cars and other moving objects. That could also work in areas like robotics.

"We think that could be even a faster-growing segment of the industry for things like robotics," Giamatteo said.

The CEO is not talking about humanoid robots, like the ones you've probably seen videos of in China recently. Instead, he is referring to robots in an industrial, factory or medical setting.

Robotics is one of the company's "fastest-growing businesses inside the QNX portfolio," the CEO told me.

BlackBerry is also now making money from the sector. The company has a backlog of orders for QNX worth $950 million and "a portion of that is robotics," Giamatteo said. He did not disclose specific numbers around the robotics orders.

After the launch of the iPhone in 2007 transformed the smartphone industry, BlackBerry fought hard to keep its consumer mobile division alive with new devices — but ultimately lost the battle. 

Its reinvention has been a remarkable one, and for now, investors seem to be embracing the new direction.

News editA San Francisco federal judge on Thursday ruled that the Pentagon's blacklisting of Anthropic earlier this year was illegal.

Anthropic has inked a roughly $45 billion cloud deal with Nscale, a U.K.-based AI infrastructure company, sources told CNBC.

Nvidia's near-monopoly over the most advanced AI chips is under "threat" as OpenAI's and other tech giants announce custom-built semiconductors, according to analysts.

OpenAI has rolled out ads on ChatGPT for select plans in India, one of its largest and most active markets, as the company looks to maximize its revenue ahead of its planned listing next year.

SK Hynix is bolstering its U.S. presence, with a new factory in Indiana that CEO Kwak Noh-Jung says will make the state a "key HBM production base in America" by 2030.

One more thing

Nvidia stock

Bucking the trend — Nvidia's stock boost on Thursday was a sharp change to its fortunes in the previous four earnings quarters. Despite meeting or beating estimates, shares dropped as investors remained unimpressed. Not so this time out.

Statistically Significant and Clinically Meaningful Disease and Symptom Improvements Compared to Placebo Maintained Through Week 52

Efficacy in a Third Epithelial-Driven Inflammatory Disease Supports Broad Potential of TEZSPIRE

, /PRNewswire/ -- Amgen (NASDAQ:AMGN) and AstraZeneca today announced positive top-line results from the Phase 3 CROSSING trial of TEZSPIRE® (tezepelumab-ekko) in patients living with eosinophilic esophagitis (EoE). TEZSPIRE demonstrated statistically significant and clinically meaningful improvements across co-primary and key secondary endpoints at week 24 which were sustained through week 52. The co-primary endpoints were histologic remission and the frequency and severity of dysphagia (difficulty swallowing). The safety profile of TEZSPIRE was generally consistent with its approved indications.

EoE is a chronic and progressive epithelial-driven inflammatory disorder of the esophagus affecting more than 470,000 people in the U.S., with the prevalence increasing five-fold since 2009.1,2 Esophageal inflammation can lead to dysphagia, food impaction and esophageal narrowing.2 For patients, the risk of food moving slowly or becoming stuck can make daily meals difficult and stressful.3 Nearly half of patients, including adolescents, do not achieve adequate disease control with current first-line treatments, which include dietary restriction, swallowed topical corticosteroids and proton pump inhibitors.4-6 

"We're pleased that TEZSPIRE showed efficacy in a third epithelial-driven inflammatory condition, eosinophilic esophagitis," said Jay Bradner, M.D., executive vice president of Research and Development, Artificial Intelligence and Data at Amgen. "In this Phase 3 trial, TEZSPIRE improved both the underlying inflammation and the swallowing difficulties that can make eosinophilic esophagitis so disruptive for patients. That combination is important for patients and builds confidence in TEZSPIRE as a potential new treatment for people struggling with EoE."

CROSSING is a randomized, double-blind trial that evaluated the efficacy and safety of TEZSPIRE at one of two doses administered subcutaneously every four weeks compared to placebo in adults and adolescents with symptomatic and uncontrolled EoE while on maintenance therapy. In the trial, the first co-primary endpoint, histologic remission, was defined as having a low count of peak eosinophils in the esophageal tissue. The second co-primary endpoint, the frequency and severity of dysphagia, was assessed using the patient-reported Dysphagia Symptom Questionnaire (DSQ) and measured as a mean change from baseline in DSQ score.7

"Despite the availability of first-line therapies or dietary interventions, many patients with eosinophilic esophagitis still experience substantial burden, including difficulty swallowing food and emotional and daily-life impacts of the disease," said Arjan Bredenoord, M.D., gastroenterologist and professor at the Amsterdam University Medical Center, Amsterdam, the Netherlands, and primary investigator in the trial. "The impressive results from the CROSSING trial sustained over 52 weeks demonstrate that tezepelumab, taken every four weeks, could provide a new approach to treating EoE, with the potential to help more patients achieve remission and symptom improvement."  

Full results will be shared with regulatory authorities and the scientific community at an upcoming medical meeting.

TEZSPIRE® (tezepelumab-ekko) U.S. Indication

TEZSPIRE is indicated for:

the add-on maintenance treatment of adult and pediatric patients aged 12 years and older with severe asthma. TEZSPIRE is not indicated for the relief of acute bronchospasm or status asthmaticus. the add-on maintenance treatment of adult and pediatric patients aged 12 years and older with inadequately controlled chronic rhinosinusitis with nasal polyps (CRSwNP). TEZSPIRE® (tezepelumab-ekko) Important Safety Information 

CONTRAINDICATIONS
Known hypersensitivity to tezepelumab-ekko or excipients.

WARNINGS AND PRECAUTIONS

Hypersensitivity Reactions
Hypersensitivity reactions were observed in the clinical trials (e.g., rash and allergic conjunctivitis) following the administration of TEZSPIRE. Postmarketing cases of anaphylaxis have been reported. These reactions can occur within hours of administration, but in some instances have a delayed onset (i.e., days). In the event of a hypersensitivity reaction, consider the benefits and risks for the individual patient to determine whether to continue or discontinue treatment with TEZSPIRE.

Acute Asthma Symptoms or Deteriorating Disease
TEZSPIRE should not be used to treat acute asthma symptoms, acute exacerbations, acute bronchospasm, or status asthmaticus.

Abrupt Reduction of Corticosteroid Dosage
Do not discontinue systemic or inhaled corticosteroids abruptly upon initiation of therapy with TEZSPIRE. Reductions in corticosteroid dose, if appropriate, should be gradual and performed under the direct supervision of a physician. Reduction in corticosteroid dose may be associated with systemic withdrawal symptoms and/or unmask conditions previously suppressed by systemic corticosteroid therapy.

Parasitic (Helminth) Infection
It is unknown if TEZSPIRE will influence a patient's response against helminth infections. Treat patients with pre-existing helminth infections before initiating therapy with TEZSPIRE. If patients become infected while receiving TEZSPIRE and do not respond to anti-helminth treatment, discontinue TEZSPIRE until infection resolves.

Live Attenuated Vaccines 
The concomitant use of TEZSPIRE and live attenuated vaccines has not been evaluated. The use of live attenuated vaccines should be avoided in patients receiving TEZSPIRE.

ADVERSE REACTIONS 
The most common adverse reactions (incidence ≥ 3%) are:

Asthma: pharyngitis, arthralgia, and back pain. Chronic rhinosinusitis with nasal polyps: nasopharyngitis, upper respiratory tract infection, epistaxis, pharyngitis, back pain, influenza, injection site reaction and arthralgia. USE IN SPECIFIC POPULATIONS 
There are no available data on TEZSPIRE use in pregnant women to evaluate for any drug-associated risk of major birth defects, miscarriage, or other adverse maternal or fetal outcomes. Placental transfer of monoclonal antibodies such as tezepelumab-ekko is greater during the third trimester of pregnancy; therefore, potential effects on a fetus are likely to be greater during the third trimester of pregnancy.

Please see the full   Prescribing Information including Patient Information and Instructions for Use.

You may report side effects related to AstraZeneca products by clicking here.

About TEZSPIRE® (tezepelumab-ekko)

TEZSPIRE is a first-in-class human monoclonal antibody that works on a primary source of inflammation: the airway and gut epithelia, which are the first points of contact for many viruses, allergens, pollutants and other environmental triggers and insults. Specifically, TEZSPIRE targets and blocks thymic stromal lymphopoietin (TSLP), a key epithelial cytokine that sits at the top of multiple inflammatory cascades and initiates an overreactive immune response to allergic, eosinophilic and other types of epithelial-driven inflammation associated with severe asthma, chronic rhinosinusitis with nasal polyps (CRSwNP), chronic obstructive pulmonary disease (COPD) and eosinophilic esophagitis (EoE).7,8-11

TSLP is released by the epithelium in response to inhaled or swallowed environmental inflammatory triggers. Across these disease states, the expression of TSLP is increased and correlates with disease severity.8-12  

TEZSPIRE is currently approved for the treatment of severe asthma in the U.S., EU, China, Japan and more than 70 countries across the globe, and for the treatment of inadequately controlled CRSwNP in the U.S., EU, China and Japan.

Beyond severe asthma and CRSwNP, TEZSPIRE is also in development for other potential indications including COPD and EoE.13-15

About Eosinophilic Esophagitis (EoE)

EoE is a chronic and progressive epithelial-driven inflammatory disorder of the esophagus with prevalence growing across the world.1,2 It is characterized by inflammation, remodeling and esophageal epithelial dysfunction. Epithelial dysfunction and inflammation are important characteristics of EoE and impede the ability of the epithelium to act as a physical and immunological barrier against the external environment.2

The most common symptoms of EoE include difficulty and pain swallowing, food becoming stuck in the esophagus (which may require emergency medical interventions), nausea and vomiting, abdominal or chest pain, poor appetite and difficulty sleeping.2,16,17 Many patients, including adolescents, experience a substantial impact on their quality of life including significant anxiety related to swallowing and choking, depression and decreased work/school productivity.18,19

Patients are often treated with proton pump inhibitors or swallowed topical corticosteroids to manage inflammation.2,4 Nearly half of patients with EoE will not respond to standard first-line therapies or dietary treatment.5,6 Existing treatment options, including those targeting downstream mediators, may not fully address epithelial-driven inflammation.20,21

About the Phase 3 CROSSING Trial

CROSSING is a randomized, double-blind, placebo-controlled, multi-center, parallel-group, Phase 3 trial designed to evaluate the efficacy and safety of TEZSPIRE administered subcutaneously every four weeks, compared to placebo in patients aged 12-80 years with symptomatic and histologically active EoE. A total of 368 patients were randomized in a 1:1:1 ratio to receive either a low or high dose of TEZSPIRE or placebo.7

The co-primary endpoints analyzed at week 24 were the proportion of patients with  histologic remission, defined as a peak esophageal eosinophil count less than or equal to six eosinophils per high-power field, and mean changes from baseline in the Dysphagia Symptom Questionnaire (DSQ). The peak eosinophil count is obtained when biopsies of the tissue of the esophagus are examined under a microscope. A count of 15 or more peak eosinophils per high power microscopic field measured by esophageal biopsy is often the cutoff used to diagnose EoE.22,23 The DSQ captures the presence and severity of dysphagia symptoms in a daily diary with a four-item patient-reported questionnaire; the score is calculated over 14-day periods, ranging from zero to 84, with a higher score indicating more severe dysphagia. Key secondary endpoints assessed histologic remission and dysphagia symptoms at week 52; changes in endoscopic disease features (EoE-EREFS) and histologic severity and extent (EoE-HSS) at weeks 24 and 52, as well as endoscopic response, inflammatory remission and total endoscopic remission at week 52.7

In the trial, patients were allowed to remain on background medications for EoE, including proton pump inhibitors and swallowed topical corticosteroids, provided that they were stable prior to entry and during the treatment period.7

About the Amgen and AstraZeneca Collaboration

Amgen is in a collaboration with AstraZeneca for the development and commercialization of TEZSPIRE. Under the collaboration, both companies share global costs, profits and losses equally after payment by AstraZeneca of a mid-single-digit royalty to Amgen. AstraZeneca leads global development. In North America, Amgen, as the principal, recognizes product sales of TEZSPIRE in the United States, and AstraZeneca, as the principal, recognizes product sales of TEZSPIRE in Canada. AstraZeneca leads commercialization for TEZSPIRE outside North America. Amgen manufactures and supplies TEZSPIRE worldwide.

About Amgen 

Amgen discovers, develops, manufactures and delivers innovative medicines to fight some of the world's toughest diseases. Harnessing the best of biology and technology, Amgen reaches millions of patients with its medicines.

More than 45 years ago, Amgen helped establish the biotechnology industry at its U.S. headquarters in Thousand Oaks, California, and it remains at the cutting edge of innovation, using technology and human genetic data to push beyond what is known today. Amgen is advancing a broad and deep pipeline and portfolio of medicines to treat cancer, heart disease, inflammatory conditions, rare diseases and obesity and obesity-related conditions.

Amgen has been consistently recognized for innovation and workplace culture, including honors from Fast Company and Forbes. Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average® and it is also part of the Nasdaq-100 Index®, which includes the largest and most innovative non-financial companies listed on the Nasdaq Stock Market based on market capitalization.

For more information, visit Amgen.com and follow Amgen on X, LinkedIn, Instagram, YouTube, Facebook, TikTok and Threads.

Amgen Forward-Looking Statements

This news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeOne Medicines Ltd.), the performance of Otezla® (apremilast), our acquisitions of ChemoCentryx, Inc., Dark Blue Therapeutics, Ltd. or Horizon Therapeutics plc (including the prospective performance and outlook of Horizon's business, performance and opportunities, and any potential strategic benefits, synergies or opportunities expected as a result of such acquisition), as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems on our business, outcomes, progress, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, preclinical results do not guarantee safe and effective performance of product candidates in humans. The complexity of the human body cannot be perfectly, or sometimes, even adequately modeled by computer or cell culture systems or animal models. The length of time that it takes for us to complete clinical trials and obtain regulatory approval for product marketing has in the past varied and we expect similar variability in the future. Even when clinical trials are successful, regulatory authorities may question the sufficiency for approval of the trial endpoints we have selected. We develop product candidates internally and through licensing collaborations, partnerships and joint ventures. Product candidates that are derived from relationships may be subject to disputes between the parties or may prove to be not as effective or as safe as we may have believed at the time of entering into such relationship. Also, we or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market.

Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions, including those resulting from geopolitical relations and government actions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product development, product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful, and may result in unanticipated costs, delays or failures to realize the benefits of the transactions. A breakdown, cyberattack or information security breach of our information technology systems could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business and operations may be negatively affected by the failure, or perceived failure, of achieving our sustainability objectives. The effects of global climate change and related natural disasters could negatively affect our business and operations. Global economic conditions may magnify certain risks that affect our business. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all.

Any scientific information discussed in this news release relating to new indications for our products is preliminary and investigative and is not part of the labeling approved by the U.S. Food and Drug Administration for the products. The products are not approved for the investigational use(s) discussed in this news release, and no conclusions can or should be drawn regarding the safety or effectiveness of the products for these uses.

CONTACT: Amgen, Thousand Oaks
Elissa Snook, 609-251-1407 (media)
Casey Capparelli, 805-447-1746 (investors)

REFERENCES

Biedermann L. & Straumann A. Mechanisms and clinical management of eosinophilic oesophagitis: an overview. Nature Reviews Gastroenterol & Hepatol. 2023;20(2):101-119. Thel HL, et al. Prevalence and costs of eosinophilic esophagitis in the United States. Clin Gastroenterol Hepatol. 2025;23(2):272-280.e8. Cleveland Clinic. Eosinophilic Esophagitis (EoE): Symptoms & Treatment. Available at: https://my.clevelandclinic.org/health/diseases/14321-eosinophilic-esophagitis. [Last accessed August 2026.] Hirano I, et al. AGA Institute and the Joint Task Force on Allergy-Immunology Practice Parameters clinical guidelines for the management of eosinophilic esophagitis. Gastroenterology. 2020;158(6):1776-1786. Strauss AL, Falk GW. Refractory eosinophilic esophagitis: what to do when the patient has not responded to proton pump inhibitors, steroids and diet. Curr Opin Gastroenterol. 2022;38(4):395-401. Lucendo AJ, et al. Efficacy of proton pump inhibitor drugs for inducing clinical and histologic remission in patients with symptomatic esophageal eosinophilia: a systematic review and meta-analysis. Clin Gastroenterol Hepatol. 2016;14(1):13-22.e1. ClinicalTrials.gov. Efficacy and Safety of Tezepelumab in Patients With Eosinophilic Esophagitis (CROSSING). Available at: https://clinicaltrials.gov/study/NCT05583227. [Last accessed August 2026.] Varricchi G, et al. Thymic Stromal Lymphopoietin Isoforms, Inflammatory Disorders, and Cancer. Front Immunol. 2018;9:1595. Ying S, et al. Thymic stromal lymphopoietin expression is increased in asthmatic airways and correlates with expression of Th2-attracting chemokines and disease severity. J Immunol. 2005;174:8183-8190. Calderon AA, et al. Targeting interleukin-33 and thymic stromal lymphopoietin pathways for novel pulmonary therapeutics in asthma and COPD. Eur Respir Rev. 2023;32(167):220144. Nagarkar DR, et al. Thymic stromal lymphopoietin activity is increased in nasal polyps of patients with chronic rhinosinusitis. J Allergy Clin Immunol. 2013;132(3):593-600.e12. Sherrill JD, et al. Preferential Secretion of Thymic Stromal Lymphopoietin (TSLP) by Terminally Differentiated Esophageal Epithelial Cells: Relevance to Eosinophilic Esophagitis. PLoS One. 2016;11(2):e0148216. ClinicalTrials.gov. A Study to Investigate the Efficacy and Safety of Tezepelumab in Adult Participants With Moderate to Very Severe COPD (D5241C00007) (JOURNEY). Available at: https://clinicaltrials.gov/study/NCT06878261. [Last accessed August 2026]. ClinicalTrials.gov. A Study to Investigate the Efficacy and Safety of Tezepelumab in Adult Participants With Moderate to Very Severe COPD (D5241C00006) (EMBARK). Available at: https://clinicaltrials.gov/study/NCT06883305. [Last accessed August 2026]. ClinicalTrials.gov. Tezepelumab COPD Exacerbation Study (COURSE). Available at: https://clinicaltrials.gov/ct2/show/NCT04039113. [Last accessed: August 2026]. Gold BD, et al. Health-Related Quality of Life and Perceived Stigma in Eosinophilic Esophagitis: A Real-World, US, Web-Based Survey. Gastro Hep Adv. 2024;3(8):1087-97. MedlinePlus. Eosinophilic esophagitis. Bethesda (MD): National Library of Medicine (US). Available at: https://medlineplus.gov/eosinophilicesophagitis.html. [Last accessed August 2026]. Taft TH, et al. Anxiety and depression in eosinophilic esophagitis: a scoping review and recommendations for future research. J Asthma Allergy. 2019;12:389–99. Harris RF, et al. Psychosocial dysfunction in children and adolescents with eosinophilic esophagitis. J Pediatr Gastroenterol Nutr. 2013;57:500–5. Underwood B, et al. Breaking down the complex pathophysiology of eosinophilic esophagitis. Ann Allergy Asthma Immunol. 2023;130(1):28-39 Gautam R, et al. Eosinophilic esophagitis: mechanisms of disease and approach to treatment. Curr Allergy Asthma Rep. 2026;26:21. Lucendo AJ, et al. British Society of Gastroenterology (BSG) and British Society of Paediatric Gastroenterology, Hepatology and Nutrition (BSPGHAN) joint consensus guidelines on the diagnosis and management of eosinophilic oesophagitis in children and adults. Gut. 2022;71(8):1459-1487. Dellon ES, et al. ACG Clinical Guideline: Diagnosis and Management of Eosinophilic Esophagitis. Am J Gastroenterol. 2025;120(1):31-59. SOURCE Amgen

Blue Edge Capital LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,714 shares of the medical research company’s stock, valued at approximately $621,000.

Several other hedge funds have also recently bought and sold shares of the stock. Adell Harriman & Carpenter Inc. boosted its position in shares of Amgen by 7.9% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company’s stock worth $7,204,000 after purchasing an additional 1,609 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Amgen in the 4th quarter valued at $22,441,000. Sigma Planning Corp increased its position in shares of Amgen by 24.0% in the 4th quarter. Sigma Planning Corp now owns 17,992 shares of the medical research company’s stock valued at $5,889,000 after buying an additional 3,488 shares in the last quarter. National Pension Service increased its position in shares of Amgen by 4.7% in the 4th quarter. National Pension Service now owns 1,239,549 shares of the medical research company’s stock valued at $405,717,000 after buying an additional 55,489 shares in the last quarter. Finally, Integrated Advisors Network LLC raised its stake in Amgen by 50.5% during the 1st quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company’s stock worth $6,664,000 after buying an additional 6,356 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In Several research firms have weighed in on AMGN. Royal Bank Of Canada lifted their target price on Amgen from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $362.00 price target on shares of Amgen in a research report on Wednesday, August 19th. Erste Group Bank reiterated a “hold” rating on shares of Amgen in a report on Tuesday, May 5th. TD Cowen boosted their price objective on Amgen from $420.00 to $452.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Truist Financial increased their target price on Amgen from $340.00 to $362.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $380.43.

Read Our Latest Research Report on AMGN Insider Transactions at Amgen In other news, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the transaction, the senior vice president owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the sale, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,642,098.28. This represents a 23.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 6,222 shares of company stock valued at $2,540,926. Company insiders own 0.85% of the company’s stock.

Key Headlines Impacting Amgen Here are the key news stories impacting Amgen this week:

Positive Sentiment: Tezspire posted strong Phase 3 results in eosinophilic esophagitis (EoE). The drug met both co-primary and all key secondary endpoints, producing statistically significant and clinically meaningful improvements in tissue inflammation and difficulty swallowing. Benefits were sustained through 52 weeks, supporting a potential third approved indication beyond asthma and chronic rhinosinusitis with nasal polyps. Tezspire Phase 3 results Positive Sentiment: The EoE opportunity could materially expand Tezspire’s commercial potential. Analysts and industry commentators view EoE as a possible blockbuster market, potentially allowing Amgen and partner AstraZeneca to compete more directly with established biologics such as Dupixent. Regulatory filing and approval remain necessary before the opportunity can translate into revenue. Tezspire EoE market opportunity Neutral Sentiment: Amgen began a Phase 1 study of AMG 691 aimed at a potentially important Asian market. The trial could add a long-term growth asset, but it is at an early stage and provides limited near-term earnings visibility. AMG 691 Phase 1 trial Negative Sentiment: Amgen ended its Crohn’s disease research collaboration with TScan Therapeutics. The decision removes an exclusive effort to identify and develop T-cell targets in inflammatory bowel disease, narrowing one element of Amgen’s early pipeline and highlighting uncertainty around its partnership strategy. Amgen ends Crohn’s disease partnership Amgen Price Performance NASDAQ AMGN opened at $436.99 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $447.03. The company has a market capitalization of $236.25 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 3.18 and a beta of 0.41. The firm’s 50 day moving average is $386.75 and its 200-day moving average is $364.23.

Amgen (NASDAQ:AMGN – Get Free Report) last announced its earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.62 by $0.67. The business had revenue of $10.05 billion during the quarter, compared to analysts’ expectations of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities research analysts anticipate that Amgen Inc. will post 22.92 earnings per share for the current fiscal year.

Amgen Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, August 21st. Amgen’s dividend payout ratio is currently 62.65%.

Amgen Profile (Free Report)

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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Key Takeaways Redfin keeps Zillow's rental listings, lead payments and the $100M received under the original agreement.Redfin can restart its multi-family advertising business and work directly with property managers.The settlement expands RKT's ability to engage renters early and convert them into future homebuyers. Rocket Companies’ (RKT - Free Report) Redfin has reached a proposed settlement with the Federal Trade Commission (FTC) and five states over its multi-family rental-listing agreement with Zillow. For RKT, the key positive is that Redfin retains the core economics of the existing arrangement. Redfin will continue receiving Zillow’s rental inventory and renter-lead payments, retain the $100 million received under the original deal and maintain the partnership through at least 2030.

At the same time, Redfin gains greater flexibility to pursue growth independently. The settlement removes restrictions that had prevented it from competing directly with Zillow for multi-family advertisers. Redfin can now rebuild its rental advertising operations, establish direct relationships with property managers and generate leads through its own platform.

This is expected to broaden RKT’s revenue opportunities within the housing ecosystem. Redfin’s rental platforms, including Rent.com and ApartmentGuide.com, give Rocket access to consumers at an earlier stage of their housing journey. A stronger rental presence could help Rocket build relationships with renters who may eventually need mortgage, brokerage and other homeownership services.

The settlement also reduces a regulatory overhang linked to an agreement signed before Rocket acquired Redfin. While restarting the rental advertising business will require investment and execution, Redfin can pursue that opportunity without giving up the traffic and lead economics, supported by the Zillow partnership.

Overall, the outcome looks favorable for RKT. Rocket preserves the existing benefits of Redfin’s Zillow relationship while gaining a path to expand rental advertising and customer acquisition. If executed well, the added flexibility could strengthen Redfin’s monetization and support Rocket’s broader strategy of capturing customers across the homeownership lifecycle.

How RKT Stacks Up Against PeersOther mortgage players, including UWM Holdings Corporation (UWMC - Free Report) and PennyMac Financial Services, Inc. (PFSI - Free Report) , continue to focus primarily on strengthening their mortgage origination and servicing businesses.

UWM remains a major force in the wholesale mortgage channel, while PennyMac maintains a sizable presence across mortgage production and servicing. In comparison, Rocket’s Redfin ownership gives it greater exposure to consumers earlier in the housing journey.

Expanding Redfin’s rental business could further differentiate RKT by creating another channel to attract customers before they enter the mortgage market.

Rocket’s Price Performance & Zacks RankSo far this year, RKT shares have lost 27.2% compared with the industry’s 35.2% decline.

Image Source: Zacks Investment Research

Currently, Rocket carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

A month has gone by since the last earnings report for Teladoc (TDOC - Free Report) . Shares have lost about 3.3% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Teladoc due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.

Teladoc Health Q2 Earnings Beat Estimates on Integrated Care Strength

Teladoc Health reported a second-quarter 2026 adjusted loss of 21 cents per share, which beat the Zacks Consensus Estimate of a loss of 24 cents. However, the bottom line deteriorated from a loss of 19 cents per share in the year-ago quarter.

Operating revenues declined 4% year over year to $606.9 million and missed the Zacks Consensus Estimate by 1.3%.

The quarterly results were supported by strength in the Integrated Care segment, higher international revenues and lower operating expenses, which were partially offset by weakness in the BetterHelp segment, particularly pressure on cash pay revenues, and declining access fees revenues.

Q2 Operational Update of Teladoc HealthRevenues from access fees totaled $474.2 million, down 9% year over year. The figure missed the Zacks Consensus Estimate and our estimate of $499.5 million. Other revenues increased 23% year over year to $132.7 million. The metric beat the Zacks Consensus Estimate and our estimate of $113 million.

On a geographical basis, Teladoc Health generated $487.4 million in revenues from the United States, down 6% year over year. The metric lagged the Zacks Consensus Estimate of $498.3 million. International revenues of $119.6 million advanced 7% year over year and surpassed the consensus mark of $114.2 million.

Adjusted EBITDA declined 5% year over year to $65.7 million and beat our estimate of $56.2 million. Total costs and expenses decreased 6.2% year over year to $644 million and came below our estimate of $661 million. The year-over-year decline was primarily due to lower technology and development, advertising and marketing, and general and administrative expenses.

TDOC Q2 Segmental UpdateThe Integrated Care segment’s revenues increased 1% year over year to $394.3 million in the reported quarter. The figure beat the Zacks Consensus Estimate of $392.2 million and our estimate of $392 million. Adjusted EBITDA increased 14% year over year to $65.2 million and surpassed the Zacks Consensus Estimate of $59.3 million. The adjusted EBITDA margin expanded 180 basis points (bps) year over year to 16.5%.

The BetterHelp segment generated revenues of $212.6 million, down 12% year over year. The metric missed the Zacks Consensus Estimate of $221.8 million. Adjusted EBITDA declined 96% year over year to $0.47 million. The figure missed the consensus mark of $1.8 million. The adjusted EBITDA margin of 0.2% contracted 470 bps year over year.

Visits & Memberships of Teladoc HealthTotal visits to Teladoc Health were 4.1 million in the second quarter, down 2% year over year. The metric beat the Zacks Consensus Estimate by 1.2%
U.S. Integrated Care members totaled 100.3 million, down 2% year over year. However, the figure beat the consensus mark by 0.7%.

TDOC’s Q2 Financial UpdateTeladoc Health exited the second quarter of 2026 with cash and cash equivalents of $774.3 million, down from $781.1 million as of 2025-end.

Total assets decreased to $2.76 billion from $2.86 billion at the end of 2025.

Debt totaled $996.7 million, up from $994.9 million as of 2025-end.

Total stockholders’ equity declined to $1.3 billion from $1.4 billion as of Dec. 31, 2025.

In the second quarter of 2026, TDOC generated net cash from operations of $64.7 million, down 29.3% year over year. Free cash flow was $35.7 million, down 41.6% year over year.

Teladoc Health’s Q3 2026 OutlookRevenues in the Integrated Care segment are forecasted to witness year-over-year growth of 0.0-3.0%. The unit’s adjusted EBITDA margin is anticipated to be in the band of 15.7-17.2%. U.S. Integrated Care members are expected to be between 99.0-100.5 million

Revenues in the BetterHelp segment are estimated to register a 12.3-24.2% year-over-year decline. The segment’s adjusted EBITDA margin is anticipated to be in the band of 0.5-2.5%.

Total revenues are expected to be between $569 million and $609 million. Adjusted EBITDA is anticipated to be between $62 million and $74 million. Net loss per share is estimated to be between 20 cents and 30 cents.

Teladoc Health’s 2026 outlookRevenues in the Integrated Care segment are expected to grow 0.8-2.4% year over year compared with the prior guidance of 0.8-3.5%. U.S. Integrated Care members are projected to be between 98.5 million and 100.5 million, up from the earlier projection of 97-100 million. The segment's adjusted EBITDA margin is expected to be between 15.6% and 16.4% compared with the previous guidance of 15.1-16.1%.

Revenues in the BetterHelp segment are expected to decline 12.7-19.0% year over year compared with the earlier guidance of 1.0-6.5%. The segment's adjusted EBITDA margin is expected to be between 3.0% and 4.6%, unchanged from the prior guidance.

The company expects 2026 revenues to be in the range of $2.362-$2.447 billion, down from the previous guidance of $2.481-$2.576 billion. Adjusted EBITDA is projected to be between $271 million and $303 million compared with the earlier outlook of $267-$306 million. Net loss per share is expected to be between 75 cents and $1.00 versus the previous guidance of 75 cents-$1.05.

Free cash flow guidance remains unchanged at $130-$170 million.

How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a downward trend in estimates revision.

The consensus estimate has shifted -27.35% due to these changes.

VGM ScoresCurrently, Teladoc has a average Growth Score of C, however its Momentum Score is doing a bit better with a B. Following the exact same course, the stock has a grade of B on the value side, putting it in the top 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Teladoc has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerTeladoc belongs to the Zacks Medical Services industry. Another stock from the same industry, Medpace (MEDP - Free Report) , has gained 5.8% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.

Medpace reported revenues of $707.33 million in the last reported quarter, representing a year-over-year change of +17.2%. EPS of $4.25 for the same period compares with $3.10 a year ago.

Medpace is expected to post earnings of $4.39 per share for the current quarter, representing a year-over-year change of +13.7%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for Medpace. Also, the stock has a VGM Score of C.

Ausdal Financial Partners Inc. purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 17,510 shares of the company’s stock, valued at approximately $3,168,000.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after acquiring an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Philip Morris International by 4.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after purchasing an additional 91 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Philip Morris International by 53.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,636 shares of the company’s stock valued at $1,027,000 after purchasing an additional 1,970 shares during the period. Jump Financial LLC bought a new stake in shares of Philip Morris International during the 2nd quarter valued at about $2,454,000. Finally, Osterweis Capital Management Inc. increased its position in shares of Philip Morris International by 2,280.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 357 shares of the company’s stock valued at $65,000 after purchasing an additional 342 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets Several equities analysts have recently weighed in on PM shares. Morgan Stanley increased their price objective on shares of Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Monday, August 17th. Citigroup upped their target price on shares of Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Barclays increased their price target on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, Stifel Nicolaus lifted their price target on shares of Philip Morris International from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.89.

Get Our Latest Research Report on Philip Morris International Philip Morris International Price Performance PM stock opened at $193.94 on Thursday. Philip Morris International Inc. has a 1-year low of $142.11 and a 1-year high of $207.76. The business has a 50 day simple moving average of $186.71 and a two-hundred day simple moving average of $178.64. The company has a market capitalization of $302.28 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 2.34 and a beta of 0.38.

Philip Morris International (NYSE:PM – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.15. The firm had revenue of $11.19 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Philip Morris International had a net margin of 11.06% and a negative return on equity of 163.41%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 earnings per share. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. Sell-side analysts anticipate that Philip Morris International Inc. will post 8.33 EPS for the current fiscal year.

Philip Morris International Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Thursday, June 25th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, June 25th. Philip Morris International’s dividend payout ratio is 84.48%.

Philip Morris International Company Profile (Free Report)

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.

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Key Takeaways Taiwan Semiconductor's Q2 2026 revenues surged 33.7% year over year to $40.2 billion amid strong demand.TSM expects 2026 revenues to rise more than 30% in U.S. dollar terms on robust AI demand.TSM is ramping N2 capacity and expanding overseas fabs to support rising AI, HPC and smartphone demand. Taiwan Semiconductor Manufacturing Company Limited (TSM - Free Report) is benefiting from the surging demand for AI infrastructure, rapid adoption of leading-edge process technologies and growing requirements for advanced semiconductor packaging. These trends, along with capacity expansion across Taiwan and overseas, should help sustain the company’s growth momentum over the coming years.

TSM’s recent results underscore the strength of these drivers. Second-quarter 2026 revenues soared 33.7% year over year to $40.2 billion. Net income and earnings per share jumped 77.4% from the year-ago quarter. Management expects third-quarter revenues between $44.6 billion and $45.8 billion, indicating continued strong demand for the company’s advanced manufacturing technologies.

AI Boom: TSM’s Primary Growth CatalystThe rapid buildout of AI infrastructure is arguably the most important long-term growth driver for TSM. Cloud service providers and semiconductor designers continue to invest heavily in AI accelerators, custom ASICs, networking chips and other high-performance computing products, increasing demand for the company’s most sophisticated process technologies.

Management has highlighted extremely robust AI-related demand as the industry moves beyond generative AI toward agentic AI applications, which require substantially greater computing capacity. Taiwan Semiconductor noted that both customers and major cloud service providers continue to provide strong demand signals, reinforcing its confidence in the multi-year AI megatrend. Supported by these trends and its technology leadership, the company expects 2026 revenues to increase more than 30% in U.S. dollar terms.

The opportunity extends beyond GPUs. CPUs, networking processors, custom accelerators and AI-specific ASICs increasingly require leading-edge manufacturing and sophisticated packaging. Taiwan Semiconductor believes the intensifying AI investment cycle will drive richer semiconductor content and greater use of advanced process technologies and 3D packaging, strengthening its position across the broader AI computing ecosystem.

Leading-Edge Nodes Strengthen TSM’s Competitive PositionTaiwan Semiconductor’s ability to continually move customers toward more advanced manufacturing nodes represents another important growth engine. In the second quarter, 3-nanometer products accounted for 30% of wafer revenues, while 5-nanometer and 7-nanometer technologies contributed 33% and 11%, respectively. The newly introduced 2-nanometer technology already generated 3% of wafer revenues, highlighting the rapid migration toward TSM’s newest processes.

The N2 platform should become increasingly important. Taiwan Semiconductor commenced high-volume production of its 2-nanometer technology in the fourth quarter of 2025 and is ramping capacity at Hsinchu and Kaohsiung to meet strong smartphone and HPC/AI demand. The company is also extending the platform through N2P and A16, with volume production scheduled for the second half of 2026.

A16 is particularly relevant for high-performance computing applications because its Super Power Rail architecture is designed for products with complex signal routing and demanding power-delivery requirements. Taiwan Semiconductor’s A14 technology is scheduled for volume production in 2028, providing another avenue for customers seeking greater computing performance and energy efficiency.

Global Manufacturing Footprint Expands Growth OpportunitiesTSM’s widening manufacturing footprint offers another avenue for long-term expansion. Capacity investments in the United States, Japan and other locations allow the company to serve customers closer to major end markets while helping governments and technology companies diversify semiconductor supply chains.

The Arizona expansion is particularly significant because the second fab will introduce 3-nanometer production to the United States. At the same time, the company’s Japanese expansion broadens Taiwan Semiconductor’s ability to support customers across advanced computing, automotive and other semiconductor markets.

Although overseas fabs can initially carry higher costs than Taiwan operations, their strategic value could strengthen customer relationships and broaden TSM’s addressable opportunities over the long run.

Price PerformanceTaiwan Semiconductor has gained 71.8% in the past year compared with the sector’s growth of 28.6%. It has outperformed peers like Monolithic Power Systems, Inc. (MPWR - Free Report) and Analog Devices, Inc. (ADI - Free Report) . While Monolithic has gained 51.1%, Analog Devices surged 45.2% during this period.  

One-Year TSM Stock Price Performance

Image Source: Zacks Investment Research

Moving ForwardTSM sits at the intersection of several powerful semiconductor trends. Explosive AI computing requirements are supporting demand for leading-edge chips and advanced packaging, while migration toward N2, N2P and A16 technologies should provide additional growth opportunities. Expanding 3-nanometer capacity and a broader global manufacturing footprint further strengthen the company’s ability to address rising customer requirements.

The stock has a long-term earnings growth expectation of 26.5% and delivered a trailing four-quarter average earnings surprise of 10.1%. TSM currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Riding on a robust earnings surprise history and favorable Zacks Rank, Taiwan Semiconductor appears primed for further price appreciation. Consequently, investors are likely to profit if they bet on this high-flying stock now.

Key Takeaways TSMC's A14 targets faster computing, lower power use and higher logic density for AI workloads.TSMC's A14 tape-outs are ahead of schedule, with pre-production in 2027 and volume production in 2028.TSMC's A13 and A12 add die-area savings and superpower rail technology, with production planned for 2029. Taiwan Semiconductor Manufacturing Company (TSM - Free Report) , or TSMC, continues to make progress on A14 technology, designed to drive AI transformation forward by delivering faster computing and greater power efficiency. Featuring the second-generation nanosheet transistor structure, A14 represents a significant advancement from the company’s industry-leading 2-nanometer (N2) process, expected to provide a 10-15% speed improvement at the same power, or 25-30% power reduction at the same speed, along with more than a 20% increase in logic density.

On the July 2026 earnings call, management stated that an internal product-like vehicle demonstrated close to 90% device performance and close to 90% 256-megabit SRAM yield. Customer interest and engagement are also building across smartphone and high-performance computing (HPC) and AI applications, with tape-out activity already underway and ahead of schedule. TSMC expects A14 pre-production to begin in 2027 with volume production scheduled for 2028.

TSMC also extended the A14 family with A13 and A12, reflecting its strategy of continuous enhancement. A13 builds upon A14, having achieved more than 6% die area savings through an innovative 97% optical shrink. Besides, A13 also benefits from ongoing design technology co-optimization, driving further performance and power efficiency improvements. Its design rules are backward compatible with A14 to support smooth IP migration.

Meanwhile, the introduction of A12 is set to bring the company’s superpower rail technology to the A14 platform for superior performance, power and area benefits. Both A13 and A12 are set to enter volume production in 2029.

TSMC expects A14 and its derivative technologies to make the A14 family a larger and long-lasting node than N2, drawing a parallel to N2’s progression over 3-nanometer technology. This trajectory supports the company’s ongoing technology leadership in the coming years. 

TSM’s Peer UpdatesMicron Technology (MU - Free Report) recently launched the Micron Ventures Paradigm Fund, a $250 million investment vehicle built to partner with the companies shaping the future of AI. Micron Ventures’ third and largest fund to date, the Paradigm Fund will invest across the full AI technology stack, from model architectures and compute infrastructure to enterprise applications and physical AI. Separately, the company unveiled a U.S.-based long-horizon premier research institution, backed by a planned $10 billion investment over the next decade. Micron Research Labs will unite academia, government, startups and industry to advance the memory and compute breakthroughs that will define the AI era.

Marvell Technology (MRVL - Free Report) announced new innovations across its AI memory infrastructure portfolio. The developments advance the company’s position spanning server-level AI storage, rack-scale CXL memory expansion and pooling, and pod-level optical shared memory. The portfolio is designed to help hyperscalers and cloud providers scale memory more independently from compute, improving infrastructure utilization, scalability and token efficiency for agentic AI inference.

The Zacks Rundown for TSM StockOver the past 12 months, TSMC shares have rallied 85.1% compared with the industry’s 80.9% growth.

Image Source: Zacks Investment Research

TSM currently trades at a forward, five-year Price/Sales (P/S) of 11.15X compared with its historical median of 8.12X and the industry average of 10.90X.

Image Source: Zacks Investment Research

Over the past three months, TSMC’s earnings estimates have trended upward, as shown below. 

Image Source: Zacks Investment Research

TSMC sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Bank Hapoalim BM boosted its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 80.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,765 shares of the healthcare product maker’s stock after purchasing an additional 5,699 shares during the quarter. Bank Hapoalim BM’s holdings in Abbott Laboratories were worth $1,158,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cornerstone Financial Management LLC purchased a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $25,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at about $25,000. Purpose Unlimited Inc. purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at about $25,000. Portfolio Resources Advisor Group Inc. acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $26,000. Finally, Abound Financial LLC purchased a new stake in Abbott Laboratories during the fourth quarter worth about $26,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes A number of research analysts have recently weighed in on the company. BTIG Research raised their price target on Abbott Laboratories from $131.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Royal Bank Of Canada reissued an “outperform” rating and set a $130.00 price target on shares of Abbott Laboratories in a research report on Friday, July 17th. UBS Group reduced their price objective on Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Weiss Ratings raised Abbott Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.50.

Get Our Latest Research Report on Abbott Laboratories Abbott Laboratories Price Performance Shares of Abbott Laboratories stock opened at $116.12 on Wednesday. The business’s fifty day moving average price is $101.15 and its 200 day moving average price is $100.09. The stock has a market capitalization of $200.94 billion, a P/E ratio of 37.58, a PEG ratio of 2.26 and a beta of 0.59. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $137.49.

Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The business had revenue of $12.59 billion for the quarter, compared to the consensus estimate of $12.52 billion. During the same quarter last year, the firm posted $1.26 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. Abbott Laboratories has set its Q3 2026 guidance at 1.380-1.46 EPS and its FY 2026 guidance at 5.450-5.60 EPS. As a group, research analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th were paid a dividend of $0.63 per share. The ex-dividend date was Wednesday, July 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.2%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 81.55%.

Key Headlines Impacting Abbott Laboratories Here are the key news stories impacting Abbott Laboratories this week:

Positive Sentiment: The FDA authorized Abbott’s Libre Duo 10 Day, the first continuous monitor designed to track both glucose and ketone levels. The device could strengthen Abbott’s FreeStyle Libre ecosystem, help identify rising ketones before diabetic ketoacidosis emergencies, and support compatibility with automated insulin-delivery systems. Reuters article Positive Sentiment: TD Cowen raised its price target for ABT to $135 from $115 and maintained a “buy” rating. The upgrade signals confidence in Abbott’s growth prospects, particularly in continuous glucose monitoring and medical devices. Benzinga article Positive Sentiment: Medtronic’s MiniMed Flex insulin pump has begun shipping with an Abbott-made glucose sensor, expanding the potential distribution and application of Abbott’s sensor technology in automated insulin delivery. MedTech Dive article Neutral Sentiment: Recent comparisons portray Abbott as a relatively attractive healthcare and continuous glucose monitoring investment, citing valuation, liquidity and price-target upside. These assessments may support sentiment but do not represent new company operating results. Yahoo Finance article Negative Sentiment: Abbott agreed to pay $670 million to settle claims that its specialized premature-infant formulas contributed to necrotizing enterocolitis. The settlement removes some litigation uncertainty but highlights continuing legal and financial risks. Insider Monkey article Negative Sentiment: Diagnostics growth remains uneven: strong routine testing and 13% cancer-diagnostics growth are being partly offset by weaker respiratory testing demand. This could temper near-term revenue momentum. Yahoo Finance article (Free Report)

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.

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BlackRock Inc. increased its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 4.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 152,563,476 shares of the healthcare product maker’s stock after acquiring an additional 6,769,518 shares during the period. BlackRock Inc. owned approximately 8.82% of Abbott Laboratories worth $13,843,610,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. acquired a new position in Abbott Laboratories in the fourth quarter valued at approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth approximately $25,000. Purpose Unlimited Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $25,000. Portfolio Resources Advisor Group Inc. purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at $26,000. Finally, Abound Financial LLC acquired a new position in Abbott Laboratories in the fourth quarter valued at $26,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance ABT opened at $112.63 on Friday. The stock’s 50 day simple moving average is $102.61 and its 200 day simple moving average is $100.22. The stock has a market cap of $194.89 billion, a P/E ratio of 36.45, a P/E/G ratio of 2.16 and a beta of 0.59. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $137.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97.

Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.03. The company had revenue of $12.59 billion for the quarter, compared to analyst estimates of $12.52 billion. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%.Abbott Laboratories’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 earnings per share. Abbott Laboratories has set its Q3 2026 guidance at 1.380-1.46 EPS and its FY 2026 guidance at 5.450-5.60 EPS. As a group, equities analysts anticipate that Abbott Laboratories will post 5.52 EPS for the current fiscal year. Abbott Laboratories Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th were given a $0.63 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.2%. Abbott Laboratories’s dividend payout ratio is currently 81.55%.

Trending Headlines about Abbott Laboratories Here are the key news stories impacting Abbott Laboratories this week:

Positive Sentiment: The FDA approved Abbott’s Libre Duo 10 Day Continuous Dual Glucose Ketone Monitoring System for diabetes patients age two and older. The wearable is the first of its kind to track both glucose and ketones, strengthening Abbott’s position in diabetes care and creating potential for future integration with insulin-pump systems. FDA Approves Abbott’s First Wearable Device for Dual Ketone and Glucose Tracking Positive Sentiment: Abbott received the European CE Mark for its next-generation Amulet 360 left atrial appendage occluder. The device is designed to reduce stroke risk in certain atrial-fibrillation patients and may reduce reliance on blood-thinning medication, supporting growth in Abbott’s structural-heart business. Abbott’s next-generation Amulet 360 device receives CE Mark Positive Sentiment: Analyst coverage remains supportive, with TD Cowen expecting Abbott’s stock to rise. Separately, Zacks highlighted ABT as a strong long-term momentum candidate, suggesting improving price trends and investor interest despite its premium valuation. TD Cowen Analyst Says Abbott Stock Price Expected to Rise Neutral Sentiment: Abbott’s latest reported quarter exceeded consensus estimates, with earnings and revenue growing year over year. Management’s 2026 earnings guidance also points to continued expansion, but ABT’s elevated price-to-earnings ratio leaves the stock sensitive to execution and valuation concerns. Negative Sentiment: Recent coverage noted that Abbott shares fell 2.2% in the prior session even as the broader market advanced, reflecting near-term underperformance and possible profit-taking. The stock remains well below its 12-month high, so investors may want evidence that the new devices translate into meaningful sales growth. Abbott Stock Sinks as Market Gains Wall Street Analyst Weigh In Several analysts have recently weighed in on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $130.00 target price on shares of Abbott Laboratories in a report on Friday, July 17th. Weiss Ratings raised Abbott Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Bank of America lowered their target price on shares of Abbott Laboratories from $120.00 to $102.00 in a research report on Friday, June 12th. Robert W. Baird began coverage on shares of Abbott Laboratories in a research report on Wednesday, July 1st. They issued an “outperform” rating and a $121.00 price target for the company. Finally, Citigroup increased their target price on shares of Abbott Laboratories from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $119.50.

View Our Latest Report on ABT

Abbott Laboratories Profile (Free Report)

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.

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Bank OZK purchased a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,186 shares of the medical research company’s stock, valued at approximately $1,096,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TMO. North Dakota State Investment Board bought a new position in Thermo Fisher Scientific in the fourth quarter valued at about $7,505,000. BlackRock Inc. purchased a new stake in Thermo Fisher Scientific during the second quarter worth about $15,501,867,000. German American Bancorp Inc. purchased a new stake in Thermo Fisher Scientific during the second quarter valued at about $4,920,000. Hudson Value Partners LLC boosted its position in shares of Thermo Fisher Scientific by 24.9% in the second quarter. Hudson Value Partners LLC now owns 16,653 shares of the medical research company’s stock valued at $8,349,000 after acquiring an additional 3,317 shares during the period. Finally, Clearstead Trust LLC bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $3,779,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Key Headlines Impacting Thermo Fisher Scientific Here are the key news stories impacting Thermo Fisher Scientific this week:

Positive Sentiment: Thermo Fisher introduced the Thermo Scientific EMPAD G2 electron detector, designed to enable faster, high-speed four-dimensional scanning transmission electron microscopy. The product could support demand for the company’s analytical-instrument portfolio and strengthen its position in advanced materials research. Thermo Fisher Scientific Introduces the EMPAD G2 Electron Detector Positive Sentiment: A recent analysis examines whether Isora could provide Thermo Fisher with an additional long-term growth opportunity, potentially broadening the company’s exposure to emerging research and laboratory markets. Can Isora Unlock a New Growth Edge? Neutral Sentiment: Thermo Fisher’s latest reported quarter showed solid momentum: adjusted EPS of $6.03 exceeded estimates, revenue reached $11.99 billion, and sales increased 10.5% year over year. Fiscal 2026 EPS guidance remains $24.93-$25.33, but much of this strength may already be reflected in the stock’s elevated valuation. Neutral Sentiment: Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating, although the average price target of $619.41 is below recent trading levels. Several firms have raised targets toward $650, suggesting optimism but limited upside at the current valuation. Negative Sentiment: CEO Marc Casper sold 275 shares for approximately $172,000 after selling 10,000 shares worth about $6.3 million earlier in the month. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as a signal of deteriorating fundamentals, but the sales can still weigh on sentiment. Analysts Set New Price Targets Several equities research analysts have weighed in on TMO shares. Wells Fargo & Company dropped their price objective on Thermo Fisher Scientific from $675.00 to $615.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Evercore set a $570.00 price target on shares of Thermo Fisher Scientific in a research report on Monday, July 6th. Jefferies Financial Group reiterated a “buy” rating and issued a $630.00 target price on shares of Thermo Fisher Scientific in a research report on Thursday, July 23rd. Wolfe Research initiated coverage on Thermo Fisher Scientific in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $535.00 price target on the stock. Finally, Stifel Nicolaus set a $650.00 target price on shares of Thermo Fisher Scientific in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $619.41. Get Our Latest Stock Analysis on Thermo Fisher Scientific

Insider Buying and Selling at Thermo Fisher Scientific In related news, CEO Marc N. Casper sold 275 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $627.05, for a total value of $172,438.75. Following the completion of the transaction, the chief executive officer owned 123,925 shares of the company’s stock, valued at approximately $77,707,171.25. The trade was a 0.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Lisa P. Britt sold 11,440 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $613.12, for a total transaction of $7,014,092.80. Following the transaction, the vice president directly owned 14,784 shares in the company, valued at approximately $9,064,366.08. This represents a 43.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 73,768 shares of company stock worth $44,122,820 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Down 0.5% NYSE TMO opened at $630.66 on Friday. The company has a market cap of $233.18 billion, a P/E ratio of 33.92, a P/E/G ratio of 2.58 and a beta of 0.85. The business has a fifty day moving average price of $555.52 and a 200 day moving average price of $511.31. Thermo Fisher Scientific Inc. has a one year low of $435.27 and a one year high of $647.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.55.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The medical research company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.71 by $0.32. Thermo Fisher Scientific had a return on equity of 17.09% and a net margin of 15.04%.The business had revenue of $11.99 billion during the quarter, compared to analysts’ expectations of $11.71 billion. During the same period in the prior year, the business posted $4.28 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. Thermo Fisher Scientific has set its FY 2026 guidance at 24.930-25.330 EPS. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 25.12 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, September 15th. Thermo Fisher Scientific’s payout ratio is 10.11%.

Thermo Fisher Scientific Company Profile (Free Report)

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.

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Beacon Pointe Advisors LLC purchased a new position in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 37,709 shares of the medical research company’s stock, valued at approximately $18,906,000.

Several other hedge funds also recently modified their holdings of the business. Legacy Wealth Managment LLC ID raised its holdings in Thermo Fisher Scientific by 78.6% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 50 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 22 shares in the last quarter. Kilter Group LLC bought a new stake in shares of Thermo Fisher Scientific during the second quarter valued at approximately $25,000. Allied Private Wealth LLC acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at $26,000. High Note Wealth LLC lifted its position in Thermo Fisher Scientific by 170.6% in the fourth quarter. High Note Wealth LLC now owns 46 shares of the medical research company’s stock worth $27,000 after purchasing an additional 29 shares during the period. Finally, Swiss RE Ltd. acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth $28,000. 89.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Sanford C. Bernstein initiated coverage on shares of Thermo Fisher Scientific in a research note on Friday, June 26th. They set a “market perform” rating and a $520.00 price target for the company. HSBC lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating and lowered their price objective for the company from $670.00 to $540.00 in a research note on Wednesday, June 3rd. Morgan Stanley increased their target price on Thermo Fisher Scientific from $620.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Finally, Evercore set a $570.00 price target on Thermo Fisher Scientific in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $619.41.

Get Our Latest Research Report on TMO Insiders Place Their Bets In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 420 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $584.81, for a total transaction of $245,620.20. Following the sale, the chief accounting officer directly owned 2,966 shares in the company, valued at approximately $1,734,546.46. This trade represents a 12.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 275 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $627.05, for a total transaction of $172,438.75. Following the completion of the transaction, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $77,707,171.25. The trade was a 0.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 73,768 shares of company stock worth $44,122,820. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Stock Down 1.4% NYSE:TMO opened at $621.87 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.55 and a debt-to-equity ratio of 0.74. Thermo Fisher Scientific Inc. has a 12-month low of $435.27 and a 12-month high of $647.00. The firm has a market capitalization of $229.94 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.57 and a beta of 0.85. The stock’s fifty day simple moving average is $558.64 and its 200-day simple moving average is $512.08.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The medical research company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.71 by $0.32. The company had revenue of $11.99 billion during the quarter, compared to analysts’ expectations of $11.71 billion. Thermo Fisher Scientific had a return on equity of 17.09% and a net margin of 15.04%.Thermo Fisher Scientific’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $4.28 EPS. Thermo Fisher Scientific has set its FY 2026 guidance at 24.930-25.330 EPS. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 25.12 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.88 annualized dividend and a dividend yield of 0.3%. Thermo Fisher Scientific’s payout ratio is 10.11%.

(Free Report)

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.

Read More Five stocks we like better than Thermo Fisher Scientific 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude? Okta Stock Surges 29%—Is $200 the Next Stop?

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First-of-its-kind study shows sustained Zepbound use in older adults with obesity lowers costs, reinforcing the potential value of the Medicare GLP-1 Bridge program

Individuals treated with Zepbound had lower rates of hospital admissions and emergency department visits

, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced results from a real-world study of adults over 55 with overweight or obesity, which found that staying on Zepbound (tirzepatide) for weight management lowered healthcare costs over time relative to similar untreated adults, driven in part by fewer hospital admissions and emergency department visits. For adults over the age of 55, including patients in Medicare's GLP-1 Bridge program, these lower costs translate into meaningful savings as early as 12 months into treatment. This is the first study of its kind in this age group, and the results were published in Diabetes, Obesity and Metabolism.

Key findings1
The study estimated cost differences over time, excluding Zepbound costs,2 using two established methods. Both approaches yielded, on average, lower monthly healthcare costs with sustained Zepbound use versus those who are untreated.

At six months, costs were up to 15% lower (up to $181 per patient, per month). The difference widened by 12 months, with an estimated difference of up to $607 per patient, per month, reflecting on average up to 38% lower costs than those not treated.3    In the primary analysis, adults older than 55 treated with Zepbound had lower rates of hospital admissions and emergency department visits across every follow-up period, and numerically higher rates of routine outpatient and office visits, consistent with greater engagement in routine care.4 Beginning at six months, estimated healthcare cost savings nearly covered the Medicare GLP-1 Bridge program's monthly treatment cost of $195 per patient, per month. Starting at 12 months, estimated healthcare cost savings exceeded the cost of Zepbound treatment, suggesting that sustained treatment in an aging population may lead to meaningful cost savings.1 "This compelling real-world evidence highlights the impact that treating obesity with Zepbound can have on older patients and the healthcare system," said Ilya Yuffa, executive vice president and president, Lilly USA and Global Customer Capabilities. "This analysis shows treatment costs can be lowered, and in some cases more than covered, by savings elsewhere in care – including for payers and in Medicare. As coverage expands across Medicare, states and employers, these data offer evidence on the cost implications of long-term obesity treatment and should help shape decisions."

About this study

Who was included in the study? 
This retrospective observational cohort study utilized the Komodo's Healthcare Map, which includes de-identified claims data from over 330 million individuals enrolled in U.S. healthcare plans. The analysis included 15,843 adults aged above 55 (mean age 64.5 years) with obesity (BMI ≥30 kg/m²) or overweight (BMI ≥27 kg/m²) with at least one obesity-related complication, who initiated Zepbound between November 2023 and September 2025. Each Zepbound user was matched 1:1 with a control who met the same eligibility criteria but did not initiate any GLP-1 or GIP/GLP-1 receptor agonist medication. People were matched based on their baseline demographics, clinical characteristics, obesity-related complications and healthcare utilization patterns. All participants had at least 12 months of continuous enrollment prior to beginning the study.

How was the study analyzed?
To account for the fact that not all patients remained in the study for the same length of time, researchers used two complementary analytic methods: one that directly compared costs between the matched pairs (pairwise analysis, the secondary analysis), and another that statistically reweighted the results so that patients who left the study early were still fairly represented, correcting for any differences between those who stayed on Zepbound and those who didn't (Inverse Probability of Censoring Weighting analysis, the primary analysis). Both approaches showed consistent results.

What were the results of the study?
Two analytic methods found lower monthly healthcare costs with sustained Zepbound use versus no treatment. At six months, the pairwise analysis showed a 15% lower increase in costs, a difference of $181 per patient, per month; the IPCW analysis showed a 12% lower increase, a difference of $145 per patient, per month. At 12 months, the pairwise analysis showed an estimated difference of $607 per patient, per month, reflecting on average 38% lower costs; the IPCW analysis showed an estimated difference of $319 per patient, per month, reflecting on average 25% lower costs. 

How should the healthcare cost findings be interpreted?2
Claims data do not capture Zepbound's net price, so the study excluded the cost of Zepbound from total treatment costs. As a result, the reported cost differences reflect potential savings that could offset the price of Zepbound (not the net cost impact of treatment overall).

About Zepbound (tirzepatide) injection
Zepbound (tirzepatide) is the first and only dual GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonist obesity medication. Zepbound tackles an underlying cause of excess weight. It reduces appetite and how much you eat. Zepbound is indicated for adults with obesity, or some adults who are overweight and also have at least one weight-related medical problem, to lose weight and keep it off. Additionally, Zepbound is FDA-approved to treat adults with moderate-to-severe obstructive sleep apnea and obesity. Zepbound should be used with a reduced calorie diet and increased physical activity. 

Endnotes and references

Upadhyay N, Bonakdar A, Subedi K, Banerjee S, Behrend B, Hankosky ER. Trends in Cost of Care With Tirzepatide in Adults Aged Over 55 Years With Overweight or Obesity Without Diabetes: A Matched Cohort Analysis. Claims data do not capture Zepbound's net price, so the study excluded the cost of Zepbound from total treatment costs. As a result, the reported cost differences reflect potential savings that could offset the price of Zepbound (not the net cost impact of treatment overall). Estimated cost differences varied between $319 and $607, depending on model. Results were numerically lower, but not statistically significant in the secondary analysis (pairwise). INDICATIONS AND SAFETY SUMMARY WITH WARNINGS
Zepbound® (ZEHP-bownd) is an injectable prescription medicine used with a reduced-calorie diet and increased physical activity to help adults with:

obesity, or some adults with overweight who also have weight-related medical problems, to lose excess body weight and keep the weight off. moderate-to-severe obstructive sleep apnea (OSA) and obesity to improve their OSA. Zepbound contains tirzepatide and should not be used with other tirzepatide-containing products or any GLP-1 receptor agonist medicines. It is not known if Zepbound is safe and effective for use in children.

Warnings - Zepbound may cause tumors in the thyroid, including thyroid cancer. Watch for possible symptoms, such as a lump or swelling in the neck, hoarseness, trouble swallowing, or shortness of breath. If you have any of these symptoms, tell your healthcare provider.

Do not use Zepbound if you or any of your family have ever had a type of thyroid cancer called medullary thyroid carcinoma (MTC). Do not use Zepbound if you have Multiple Endocrine Neoplasia syndrome type 2 (MEN 2). Do not use Zepbound if you have had a serious allergic reaction to tirzepatide or any of the ingredients in Zepbound. KwikPen®: Do not share your KwikPen with other people, even if the pen needle has been changed. You may give other people a serious infection or get a serious infection from them.

Zepbound may cause serious side effects, including:

Severe stomach problems. Stomach problems, sometimes severe, have been reported in people who use Zepbound. Tell your healthcare provider if you have stomach problems that are severe or will not go away.

Dehydration leading to kidney problems. Diarrhea, nausea, and vomiting may cause a loss of fluids (dehydration), which may cause kidney problems. It is important for you to drink fluids to help reduce your chance of dehydration. Tell your healthcare provider right away if you have nausea, vomiting, or diarrhea that does not go away.

Gallbladder problems. Gallbladder problems have happened in some people who use Zepbound. Tell your healthcare provider right away if you get symptoms of gallbladder problems, which may include pain in your upper stomach (abdomen), fever, yellowing of skin or eyes (jaundice), or clay-colored stools.

Inflammation of the pancreas (pancreatitis). Stop using Zepbound and call your healthcare provider right away if you have severe pain in your stomach area (abdomen) that will not go away, with or without nausea or vomiting. You may feel the pain from your abdomen to your back.

Serious allergic reactions. Stop using Zepbound and get medical help right away if you have any symptoms of a serious allergic reaction, including swelling of your face, lips, tongue or throat, problems breathing or swallowing, severe rash or itching, fainting or feeling dizzy, or very rapid heartbeat.

Low blood sugar (hypoglycemia). Your risk for getting low blood sugar may be higher if you use Zepbound with medicines that can cause low blood sugar, such as a sulfonylurea or insulin. Signs and symptoms of low blood sugar may include dizziness or light-headedness, sweating, confusion or drowsiness, headache, blurred vision, slurred speech, shakiness, fast heartbeat, anxiety, irritability, mood changes, hunger, weakness or feeling jittery.

Changes in vision in patients with type 2 diabetes. Tell your healthcare provider if you have changes in vision during treatment with Zepbound.

Food or liquid getting into the lungs during surgery or other procedures that use anesthesia or deep sleepiness (deep sedation). Zepbound may increase the chance of food getting into your lungs during surgery or other procedures. Tell all your healthcare providers that you are taking Zepbound before you are scheduled to have surgery or other procedures.

Common side effects
The most common side effects of Zepbound include nausea, diarrhea, vomiting, constipation, stomach (abdominal) pain, indigestion, injection site reactions, feeling tired, allergic reactions, belching, hair loss, and heartburn. These are not all the possible side effects of Zepbound. Talk to your healthcare provider about any side effect that bothers you or doesn't go away.

Tell your doctor if you have any side effects. You can report side effects at 1-800-FDA-1088 or www.fda.gov/medwatch.

Before using Zepbound

Your healthcare provider should show you how to use Zepbound before you use it for the first time. Talk to your healthcare provider about low blood sugar and how to manage it. Tell your healthcare provider if you are taking medicines to treat diabetes including an insulin or sulfonylurea. If you take birth control pills by mouth, talk to your healthcare provider before you use Zepbound. Birth control pills may not work as well while using Zepbound. Your healthcare provider may recommend another type of birth control for 4 weeks after you start Zepbound and for 4 weeks after each increase in your dose of Zepbound. Review these questions with your healthcare provider: 
❑ Do you have other medical conditions, including problems with your pancreas, or severe problems with your stomach, such as slowed emptying of your stomach (gastroparesis) or problems digesting food?
❑ Do you take diabetes medicines, such as insulin or sulfonylureas?
❑ Do you have a history of diabetic retinopathy?
❑ Are you scheduled to have surgery or other procedures that use anesthesia or deep sleepiness (deep sedation)?
❑ Do you take any other prescription medicines or over-the-counter drugs, vitamins, or herbal supplements?
❑ Are you pregnant, plan to become pregnant, breastfeeding, or plan to breastfeed? Zepbound may harm your unborn baby. Tell your healthcare provider if you become pregnant while using Zepbound. Zepbound may pass into your breast milk. You should talk with your healthcare provider about the best way to feed your baby while using Zepbound.

• Pregnancy Exposure Registry: There will be a pregnancy exposure registry for women who have taken Zepbound during pregnancy. The purpose of this registry is to collect information about the health of you and your baby. Talk to your healthcare provider about how you can take part in this registry, or you may contact Lilly at 1-800-LillyRx (1-800-545-5979).

How to take

Read the Instructions for Use that come with Zepbound. Use Zepbound exactly as your healthcare provider says. Use Zepbound with a reduced-calorie diet and increased physical activity. Inject Zepbound under the skin (subcutaneously) of your stomach (abdomen), thigh, or have another person inject in the back of the upper arm. Do not inject ZEPBOUND into a muscle (intramuscularly) or vein (intravenously). Use Zepbound 1 time each week, at any time of the day. Change (rotate) your injection site with each weekly injection. Do not use the same site for each injection. If you take too much Zepbound, call your healthcare provider, call the Poison Help line at 1-800-222-1222 or go to the nearest hospital emergency room right away.

Zepbound is approved as a 2.5 mg, 5 mg, 7.5 mg, 10 mg, 12.5 mg, and 15 mg injection.

Learn more
Zepbound is a prescription medicine. For more information, call 1-800-LillyRx (1-800-545-5979) or go to www.zepbound.lilly.com.

This summary provides basic information about Zepbound but does not include all information known about this medicine. Read the information that comes with your prescription each time your prescription is filled. This information does not take the place of talking with your healthcare provider. Be sure to talk to your healthcare provider about Zepbound and how to take it. Your healthcare provider is the best person to help you decide if Zepbound is right for you.

ZP CON BS 25FEB2026

About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. P-LLY

Trademarks and Trade Names
All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are referenced in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995), including statements about the supply and access of Zepbound (tirzepatide) as a treatment for adults with obesity or overweight and reflects Lilly's current belief and expectations. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of drug research, development, access, and commercialization. Among other things, there can be no guarantee that future study results will be consistent with the results to date, that Zepbound will receive additional regulatory approvals, or that Lilly will execute its access and other strategies as planned. For further discussion of these and other risks and uncertainties, see Lilly's most recent Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.

©Lilly USA, LLC 2026. All rights reserved.

SOURCE Eli Lilly and Company

Mounjaro is the first and only GIP and GLP-1 receptor agonist proven to lower heart attack, stroke or cardiovascular death risk in adults with type 2 diabetes at high risk for these events – in addition to its established A1C and weight loss benefits

It is estimated that as many as one in three adults in the U.S. with type 2 diabetes have undetected cardiovascular disease1

, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced that the U.S. Food and Drug Administration (FDA) approved Mounjaro (tirzepatide), a dual GIP and GLP-1 hormone receptor agonist, to lower the risk of major adverse cardiovascular (CV) events (MACE), including CV death, non-fatal heart attack, or non-fatal stroke in adults with type 2 diabetes who are at high risk for these events. Mounjaro is already approved as an adjunct to diet and exercise to improve blood sugar in adults and children 10 years of age and older with type 2 diabetes.

"For people with type 2 diabetes, heart disease is the leading cause of death, and Mounjaro – the #1 most prescribed branded type 2 diabetes medicine for adults in the U.S. – now gives them a proven way to lower that risk, adding to the strong foundation it has already built in A1C and weight," said Kenneth Custer, Ph.D., executive vice president and president, Lilly Cardiometabolic Health. "We set a higher bar by testing Mounjaro against a GLP-1 medicine with proven cardiovascular benefit, one that reflects the depth of evidence Lilly continues to build in this field."

The approval was based on results from SURPASS-CVOT, the first cardiovascular outcomes trial comparing two incretin medicines head-to-head rather than against a placebo, and the largest and longest tirzepatide study to date, enrolling more than 13,000 participants across 30 countries over more than four and a half years. In the trial, Mounjaro demonstrated non-inferiority to Trulicity (dulaglutide), a GLP-1 treatment with established cardiovascular benefit, with an 8% lower rate of cardiovascular death, heart attack or stroke (MACE-3). The estimated hazard ratio for time to first MACE was 0.92 (95.3% CI: 0.83, 1.01) for Mounjaro compared to Trulicity (dulaglutide).

"Heart health deserves attention throughout the course of treatment, not just after a serious cardiovascular event," said David A. D'Alessio, M.D., study co-author and director of the Division of Endocrinology and Metabolism at Duke University School of Medicine. "While a large portion of type 2 diabetes care is focused on glucose control, mitigating cardiovascular risk is essential and can be overlooked. This approval gives patients a medicine that reduces the risk of cardiovascular events and supports metabolic health at the same time." 

The safety and tolerability of Mounjaro were generally consistent with its established profile. The most commonly reported adverse events in SURPASS-CVOT for Mounjaro were gastrointestinal-related, generally mild-to-moderate in severity, and occurred primarily during the dose-escalation period. Please see Indications and Safety Summary with Warnings below and full Prescribing Information and Medication Guide.

For more information about Mounjaro, please visit www.Mounjaro.lilly.com.

About Mounjaro (tirzepatide)
Mounjaro (tirzepatide), the #1 prescribed branded type 2 diabetes medicine for adults in the U.S., is an injectable medicine for adults and children 10 years of age and older with type 2 diabetes used along with diet and exercise to improve blood sugar (glucose). In adults with type 2 diabetes who are at high risk for cardiovascular events, Mounjaro is also indicated to lower the risk of major adverse cardiovascular (CV) events (MACE), including CV death, non-fatal heart attack, or non-fatal stroke. As the first and only FDA-approved GIP and GLP-1 receptor agonist, Mounjaro is a single molecule that activates the body's receptors for GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1).

About Trulicity (dulaglutide)
Trulicity is a once-weekly injectable medicine for adults and children 10 years of age and older with type 2 diabetes that is used with diet and exercise to improve blood sugar (glucose). Trulicity is also used in adults with type 2 diabetes to reduce the risk of major cardiovascular events such as death, heart attack, or stroke, in people with established cardiovascular disease or multiple cardiovascular risk factors.

About SURPASS-CVOT
SURPASS-CVOT (Cardiovascular Outcomes Trial; NCT04255433) was an event-driven, randomized, double-blind, parallel group Phase 3 trial evaluating the efficacy and safety of Mounjaro (tirzepatide) compared with Trulicity (dulaglutide) in adults with type 2 diabetes and established atherosclerotic cardiovascular disease (ASCVD), which lasted approximately five years (with a median follow-up of four years). In the trial, 13,299 participants were randomized 1:1 across 640 sites in 30 countries to receive Mounjaro (15 mg or the maximum tolerated dose) or Trulicity (1.5 mg) administered subcutaneously once weekly. The primary objective of the trial was to demonstrate that Mounjaro provided a non-inferior reduction in the risk of major adverse cardiovascular events (MACE-3) — a composite of cardiovascular death, heart attack or stroke — compared to Trulicity. Over a median follow-up of 210.1 weeks, Mounjaro was non-inferior to dulaglutide for reducing the occurrence of MACE-3. Superiority to dulaglutide was not established. Full results from SURPASS-CVOT were published in The New England Journal of Medicine (NEJM). Data from the trial has been included in Mounjaro's product information in the European Union, and regulatory submissions based on the trial are under review in additional markets.

INDICATIONS AND SAFETY SUMMARY WITH WARNINGS 

Mounjaro® (mown-JAHR-OH) is an injectable prescription medicine used along with diet and exercise to improve blood sugar (glucose) in adults and children 10 years of age and older with type 2 diabetes and to reduce the risk of major cardiovascular events such as heart attack, stroke, or death in adults with type 2 diabetes who are at high risk for these events.

It is not known if Mounjaro is safe and effective for use in children under 10 years of age.  Warnings - Mounjaro may cause tumors in the thyroid, including thyroid cancer. Watch for possible symptoms, such as a lump or swelling in the neck, hoarseness, trouble swallowing, or shortness of breath. If you have any of these symptoms, tell your healthcare provider.

Do not use Mounjaro if you or any of your family have ever had a type of thyroid cancer called medullary thyroid carcinoma (MTC). Do not use Mounjaro if you have Multiple Endocrine Neoplasia syndrome type 2 (MEN 2). Do not use Mounjaro if you are allergic to it or any of the ingredients in Mounjaro. Mounjaro may cause serious side effects, including: 

Inflammation of the pancreas (pancreatitis). Stop using Mounjaro and call your healthcare provider right away if you have severe pain in your stomach area (abdomen) that will not go away, with or without nausea or vomiting. Sometimes you may feel the pain from your abdomen to your back. 

Low blood sugar (hypoglycemia). Your risk for getting low blood sugar may be higher if you use Mounjaro with another medicine that can cause low blood sugar, such as a sulfonylurea or insulin. Signs and symptoms of low blood sugar may include dizziness or light-headedness, sweating, confusion or drowsiness, headache, blurred vision, slurred speech, shakiness, fast heartbeat, anxiety, irritability, or mood changes, hunger, weakness and feeling jittery.

Serious allergic reactions. Stop using Mounjaro and get medical help right away if you have any symptoms of a serious allergic reaction, including swelling of your face, lips, tongue or throat, problems breathing or swallowing, severe rash or itching, fainting or feeling dizzy, and very rapid heartbeat. 

Dehydration leading to kidney problems. Diarrhea, nausea, and vomiting may cause a loss of fluids (dehydration), which may cause kidney problems. It is important for you to drink fluids to help reduce your chance of dehydration. Tell your healthcare provider right away if you have nausea, vomiting, or diarrhea that does not go away.

Severe stomach problems. Stomach problems, sometimes severe, have been reported in people who use Mounjaro. Tell your healthcare provider if you have stomach problems that are severe or will not go away. 

Changes in vision. Tell your healthcare provider if you have changes in vision during treatment with Mounjaro.

Gallbladder problems. Gallbladder problems have happened in some people who use Mounjaro. Tell your healthcare provider right away if you get symptoms of gallbladder problems, which may include pain in your upper stomach (abdomen), fever, yellowing of skin or eyes (jaundice), and clay-colored stools.

Food or liquid getting into the lungs during surgery or other procedures that use anesthesia or deep sleepiness (deep sedation). Mounjaro may increase the chance of food getting into your lungs during surgery or other procedures. Tell all your healthcare providers that you are taking Mounjaro before you are scheduled to have surgery or other procedures.

Common side effects
The most common side effects of Mounjaro include nausea, diarrhea, decreased appetite, vomiting, constipation, indigestion, and stomach (abdominal) pain. These are not all the possible side effects of Mounjaro. Talk to your healthcare provider about any side effect that bothers you or doesn't go away. 

Tell your healthcare provider if you have any side effects. You can report side effects at 1-800-FDA-1088 or www.fda.gov/medwatch.

Before using Mounjaro 

Your healthcare provider should show you how to use Mounjaro before you use it for the first time. Talk to your healthcare provider about low blood sugar and how to manage it. If you take birth control pills by mouth, talk to your healthcare provider before you use Mounjaro. Birth control pills may not work as well while using Mounjaro. Your healthcare provider may recommend another type of birth control for 4 weeks after you start Mounjaro and for 4 weeks after each increase in your dose of Mounjaro. Review these questions with your healthcare provider:
❑ Do you have other medical conditions, including problems with your pancreas, or severe problems with your stomach, such as slowed emptying of your stomach (gastroparesis) or problems digesting food?
❑ Do you take other diabetes medicines, such as insulin or sulfonylureas?
❑ Do you have a history of diabetic retinopathy?
❑ Are you scheduled to have surgery or other procedures that use anesthesia or deep sleepiness (deep sedation)?
❑ Are you pregnant, plan to become pregnant, breastfeeding, or plan to breastfeed? It is not known if Mounjaro will harm your unborn baby. Mounjaro may pass into your breast milk.
❑ Do you take any other prescription medicines or over-the-counter drugs, vitamins, or herbal supplements?

How to take 

Read the Instructions for Use that come with Mounjaro. Use Mounjaro exactly as your healthcare provider says. A caregiver may give you Mounjaro injections, or you may self-inject if a healthcare provider determines that it is appropriate. Inject Mounjaro under the skin (subcutaneously) of your stomach (abdomen), thigh, or another person should inject in the back of the upper arm. Do not inject Mounjaro into a muscle (intramuscularly) or vein (intravenously). Use Mounjaro 1 time each week, at any time of the day.   Do not mix insulin and Mounjaro together in the same injection. You may give an injection of Mounjaro and insulin in the same body area (such as your stomach area), but not right next to each other. Change (rotate) your injection site with each weekly injection. Do not use the same site for each injection. If you take too much Mounjaro, call your healthcare provider or Poison Help line at 1-800-222-1222 or go to the nearest hospital emergency room right away. Learn more
Mounjaro is a prescription medicine available as a pre-filled single-dose pen in 2.5 mg, 5 mg, 7.5 mg, 10 mg, 12.5 mg, or 15 mg per 0.5 mL injection. For more information, call 1-800-LillyRX (800-545-5979) or go to www.mounjaro.lilly.com. 

This summary provides basic information about Mounjaro but does not include all information known about this medicine. Read the information that comes with your prescription each time your prescription is filled. This information does not take the place of talking with your healthcare provider. Be sure to talk to your healthcare provider about Mounjaro and how to take it. Your healthcare provider is the best person to help you decide if Mounjaro is right for you.

TR CON BS AUG2026 

Mounjaro® and its delivery device base are registered trademarks owned or licensed by Eli Lilly and Company, its subsidiaries, or affiliates.

INDICATION[S] AND SAFETY SUMMARY WITH WARNINGS  

Trulicity® (Trū-li-si-tee) is for adults and children 10 years of age and older with type 2 diabetes used along with diet and exercise to improve blood sugar (glucose). Trulicity is also used in adults with type 2 diabetes to reduce the risk of major cardiovascular events (problems having to do with the heart and blood vessels) such as death, heart attack, or stroke in people who have heart disease or multiple cardiovascular risk factors.

It is not known if Trulicity is safe and effective to lower blood sugar (glucose) in children under 10 years of age. Trulicity is given through an injection (needle). You take it once a week by injecting it under the skin of your stomach, thigh, or upper arm. Warnings: Trulicity may cause tumors in the thyroid, including thyroid cancer. Watch for possible symptoms, such as a lump or swelling in the neck, trouble swallowing, hoarseness, or shortness of breath. If you have any of these symptoms, tell your healthcare provider.

Do not use Trulicity if you or any of your family have ever had a type of thyroid cancer called medullary thyroid carcinoma (MTC). Do not use Trulicity if you have Multiple Endocrine Neoplasia syndrome type 2 (MEN 2). Do not use Trulicity if you are allergic to dulaglutide or other ingredients in Trulicity. Ask your healthcare provider how to recognize the serious side effects below and what to do if you think you have one: 

Inflammation of the pancreas (pancreatitis). Stop using Trulicity and call your healthcare provider right away if you have severe pain in your stomach area (abdomen) that will not go away, with or without nausea or vomiting. Sometimes, you may feel the pain from your abdomen to your back.

Low blood sugar (hypoglycemia). Your risk for getting low blood sugar may be higher if you use TRULICITY with another medicine that can cause low blood sugar, such as a sulfonylurea or insulin.

Signs and symptoms of low blood sugar may include dizziness or light-headedness, confusion or drowsiness, headache, blurred vision, slurred speech, fast heartbeat, sweating, hunger, shakiness, feeling jittery, weakness, anxiety, irritability, or mood changes.

Serious allergic reactions. Stop using Trulicity and get medical help right away if you have any symptoms of a serious allergic reaction which may include swelling of your face, lips, tongue or throat, problems breathing or swallowing, severe rash or itching, fainting, or feeling dizzy, or very rapid heartbeat.

Dehydration leading to kidney problems. Diarrhea, nausea, and vomiting may cause a loss of fluids (dehydration) which may cause kidney problems. It is important for you to drink fluids to help reduce your chance of dehydration. Tell your healthcare provider right away if you have nausea, vomiting, or diarrhea that does not go away.

Severe stomach problems. Stomach problems, sometimes severe, have been reported in people who use Trulicity. Tell your healthcare provider if you have stomach problems that are severe or will not go away.

Changes in vision. Tell your healthcare provider if you have changes in your eyesight (vision) during treatment with Trulicity.

Gallbladder problems. Gallbladder problems have happened in some people who take Trulicity. Tell your healthcare provider right away if you get symptoms of gallbladder problems, which may include pain in your upper stomach (abdomen), fever, yellowing of skin or eyes (jaundice), clay-colored stools.

Food or liquid getting into the lungs during surgery or other procedures that use anesthesia or deep sleepiness (deep sedation). Trulicity may increase the chance of food getting into your lungs during surgery or other procedures. Tell all your healthcare providers that you are taking Trulicity before you are scheduled to have surgery or other procedures.

Common side effects
The most common side effects of Trulicity include nausea, diarrhea, vomiting, abdominal pain and decreased appetite, indigestion, and fatigue.

These are not all the possible side effects of Trulicity.

Tell your healthcare provider if you have any side effects. You can report side effects at 1-800-FDA-1088 or www.fda.gov/medwatch. 

Before using 

Your healthcare provider should show you how to use Trulicity before you use it for the first time. Before you use Trulicity, talk to your healthcare provider about low blood sugar and how to manage it.  Review these questions with your healthcare provider:
❑ Do you have other medical conditions, including problems with your pancreas, kidneys, liver, or stomach, or have a history of diabetic retinopathy (vision problems related to diabetes)?
❑ Do you take other diabetes medicines, such as insulin or sulfonylureas?
❑ Are you scheduled to have surgery or other procedures that use anesthesia or deep sleepiness (deep sedation)?
❑ Are you pregnant or plan to become pregnant or breastfeeding or plan to breastfeed?
❑ Do you take any other prescription medicines or over-the-counter drugs, vitamins, or herbal supplements?

How to take 

Read the Instructions for Use that come with Trulicity. Use Trulicity exactly as your healthcare provider says. Inject Trulicity under the skin (subcutaneously) of your stomach (abdomen), thigh, or upper arm. Do not inject Trulicity into a muscle (intramuscularly) or vein (intravenously). Do not share your Trulicity pen, syringe, or needles with another person. Do not give Trulicity to other people. If you take too much Trulicity, call your healthcare provider or Poison Helpline at 1-800-222-1222 or go to the nearest hospital emergency room right away. Learn more
Trulicity is a prescription medicine available as a pre-filled single-dose pen in 0.75 mg,1.5 mg, 3 mg, or 4.5 mg per 0.5 mL injection. For more information, call 1-800-LillyRx (1-800-545-5979) or go to www.trulicity.lilly.com. 

This summary provides basic information about Trulicity but does not include all information known about this medicine. Read the information that comes with your prescription each time your prescription is filled. This information does not take the place of talking with your healthcare provider. Be sure to talk to your healthcare provider about Trulicity and how to take it. Your healthcare provider is the best person to help you decide if Trulicity is right for you.

DG CON HL BS 25MAR2026 

Trulicity® and its delivery device base are registered trademarks owned or licensed by Eli Lilly and Company, its subsidiaries, or affiliates.

Endnotes

Fang M, Wang D, Tang O, et al. Subclinical cardiovascular disease in US adults with and without diabetes. J Am Heart Assoc. 2023;12(11): e029083. doi:10.1161/JAHA.122.029083. About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. P-LLY

Trademarks and Trade Names
All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are referenced in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies. 

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about Mounjaro as a treatment for adults with type 2 diabetes and who are at high risk for cardiovascular events and reflects Lilly's current beliefs and expectations. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of drug research, development, and commercialization. Among other things, there is no guarantee that future study results will be consistent with study results to date, that Mounjaro will receive additional regulatory approvals, or that Lilly will execute its strategy as planned. For further discussion of these and other risks and uncertainties that could cause actual results to differ from Lilly's expectations, see Lilly's Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.

CMAT-35000 8/2026 ©Lilly USA, LLC 2026. All rights reserved.

SOURCE Eli Lilly and Company

 At Week 52, Taltz and Zepbound maintained or further improved psoriasis or psoriatic arthritis disease activity from Week 36, when statistically superior improvements versus Taltz alone were observed in the TOGETHER-PsO and TOGETHER-PsA trials

Systemic inflammation and metabolic outcomes continued to improve or were sustained at one year with Taltz and Zepbound compared to Taltz alone in pre-specified, exploratory endpoints

Data from first-of-their-kind studies contribute to the understanding of immunometabolic health

, /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced 52-week results from TOGETHER-PsO and TOGETHER-PsA, two novel open-label Phase 3b clinical trials evaluating the concomitant use of Taltz (ixekizumab) and Zepbound (tirzepatide) compared to Taltz alone in adults with moderate-to-severe plaque psoriasis (PsO) or active psoriatic arthritis (PsA), respectively, and obesity or overweight with at least one additional weight-related comorbid condition. At the previously reported Week 36 primary endpoint, Taltz and Zepbound showed statistically superior improvements in disease activity and metabolic outcomes compared to Taltz alone in both trials. New data show these improvements were maintained or further improved through Week 52, with no new safety concerns identified.

"The primary results from these first-of-their-kind studies were already remarkable, showing that Taltz and Zepbound used together improved outcomes for patients with psoriatic disease and obesity. What's especially exciting now is seeing those improvements further deepened or sustained at one year, across disease activity, inflammation and metabolic outcomes," said Mark Genovese, M.D., senior vice president of Lilly Immunology development. "People living with the cumulative burden of psoriatic disease and obesity are too often treated with separate, disconnected approaches. These data showing durable results across multiple measures support a comprehensive approach that can potentially address immunometabolic health for patients living with these chronic diseases."

Psoriasis and psoriatic arthritis are immune-mediated diseases that are often linked with metabolic dysfunction, including obesity.1,2 In the U.S., approximately 61% of people with psoriasis and 65% of people with psoriatic arthritis also have obesity or overweight with at least one weight-related comorbidity,1,2 which is often associated with poorer treatment outcomes.3-5 At baseline, the mean body mass index (BMI) of participants was 39.2 in TOGETHER-PsO and 37.6 in TOGETHER-PsA.

"Psoriatic disease is often accompanied by obesity or overweight, which can make treatment goals related to the skin and joints harder to reach," said Joseph F. Merola, M.D. MMSc, a Dermatologist, Rheumatologist, President of the Psoriasis and Psoriatic Arthritis Clinics Multicenter Advancement Network (PPACMAN), co-president of the Group for Research and Assessment of Psoriasis and Psoriatic Arthritis (GRAPPA), and President of the Rheumatology-Dermatology Society. "In psoriatic arthritis, the greater improvements in disease activity seen with Taltz and Zepbound in the first month, before clinically meaningful weight loss occurred, continued through one year. In psoriasis, the durability of complete skin clearance at one year represents real, lasting progress for patients. Paired with continued metabolic improvements, these findings show what may be possible when treating psoriatic disease and obesity concurrently."

At Week 52, the following were observed:*

Primary outcome: The primary multi-component outcome continued to improve through Week 52 in each trial. In TOGETHER-PsO, the primary outcome was Psoriasis Area Severity Index (PASI) 100 plus at least 10% weight loss (achieved by 30.6% of patients with Taltz plus Zepbound at Week 52 vs. 4.4% for Taltz alone). In TOGETHER-PsA, the primary outcome was an at least 50% reduction in PsA disease activity based on American College of Rheumatology 50 (ACR50) plus at least 10% weight loss (achieved by 39.2% of patients with Taltz and Zepbound at Week 52 vs. 1.7% for monotherapy). PsO disease activity key secondary outcome: In TOGETHER-PsO, the percentage of patients receiving Taltz and Zepbound who achieved the highest bar of complete skin clearance (PASI 100) was maintained (40.5% at Week 52 vs. 29.1% for Taltz monotherapy). PsA disease activity key secondary outcome: In TOGETHER-PsA, the proportion of patients achieving ACR50 with Taltz and Zepbound further increased (43.7% at Week 52 vs.15.7% for Taltz monotherapy). This builds on the ACR50 improvements with Taltz and Zepbound compared to Taltz alone seen as early as Week 4, before clinically meaningful weight loss was observed. Systemic inflammation: Treatment with Taltz and Zepbound also led to deeper improvements in systemic inflammation over time in both trials, as measured by high-sensitivity C-reactive protein (hsCRP). Metabolic outcomes: Improvements in BMI, blood pressure, glucose, HbA1c, triglycerides, and total cholesterol with Taltz and Zepbound compared to Taltz monotherapy were sustained or further improved. *Week 52 analyses are pre-specified, exploratory objectives without multiplicity control. Comparisons between timepoints are descriptive and not tested or controlled for multiplicity.

Adverse events in participants treated with Taltz and Zepbound together were generally mild to moderate, and the types of adverse events were consistent with the known safety profile of each medicine. In the concomitant treatment arm in both trials, the adverse events reported in ≥5% of participants were nausea, diarrhea, constipation, injection site reactions, vomiting, dizziness and headache.

Taltz is a monoclonal antibody that selectively binds with interleukin 17A (IL-17A) cytokine and inhibits its interaction with the IL-17 receptor. Taltz is the only biologic with data supporting a potential comprehensive treatment approach alongside an incretin therapy for people with psoriasis or psoriatic arthritis who also have obesity or overweight. Zepbound is the only FDA-approved dual GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonist obesity management medication.

Detailed 52-week results from TOGETHER-PsO and TOGETHER-PsA will be presented at future medical meetings and published in peer-reviewed journals.

About the TOGETHER-PsO and TOGETHER-PsA Trials
TOGETHER-PsO (NCT06588283) and TOGETHER-PsA (NCT06588296) are 52-week Phase 3b, randomized, multicenter, assessor-blinded, open-label studies assessing the efficacy and safety of concomitant administration of Taltz and Zepbound compared with Taltz alone in adults with psoriatic disease and obesity or overweight with at least one additional weight-related comorbid condition. TOGETHER-PsO enrolled 274 adults with moderate-to-severe plaque psoriasis, and TOGETHER-PsA enrolled 271 adults with active psoriatic arthritis. Participants were randomized 1:1 to receive either Taltz alone or concomitantly with Zepbound, both administered subcutaneously, and received counseling on a reduced-calorie diet and increased physical activity. The primary objectives at Week 36 are the proportion of participants achieving both PASI 100 and ≥10% weight reduction in TOGETHER-PsO and both ACR50 and ≥10% weight reduction in TOGETHER-PsA. Participants were required to have a BMI ≥30 kg/m², or ≥27 to <30 kg/m² with at least one weight-related comorbidity.

About Taltz (ixekizumab)6
Taltz is a monoclonal antibody that selectively binds with interleukin 17A (IL-17A) cytokine and inhibits its interaction with the IL-17 receptor. IL-17A is a naturally occurring cytokine that is involved in normal inflammatory and immune responses. Taltz inhibits the release of pro-inflammatory cytokines and chemokines. Taltz is approved to treat adults with active psoriatic arthritis and adults and children 6 years and older with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy. Additionally, Taltz is approved for adults with active ankylosing spondylitis, and adults with active non-radiographic axial spondyloarthritis with objective signs of inflammation.

About Zepbound (tirzepatide) injection7
Zepbound (tirzepatide) is the first and only dual GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonist obesity medication. Zepbound tackles an underlying cause of excess weight. It reduces appetite and how much you eat. Zepbound is indicated for adults with obesity, or some adults who are overweight and also have at least one weight-related medical problem, to lose weight and keep it off. Additionally, Zepbound is FDA-approved to treat adults with moderate-to-severe obstructive sleep apnea and obesity. Zepbound should be used with a reduced calorie diet and increased physical activity.

TALTZ INDICATIONS AND SAFETY SUMMARY
Taltz® (tȯl-ts) is an injectable medicine used to treat:

People 6 years of age and older with moderate to severe plaque psoriasis who may benefit from taking injections or pills (systemic therapy) or treatment using ultraviolet or UV light (phototherapy). Adults with active psoriatic arthritis. Adults with active ankylosing spondylitis. Adults with active non-radiographic axial spondyloarthritis with objective signs of inflammation. It is not known if Taltz is safe and effective in children for conditions other than plaque psoriasis or in children under 6 years of age.

Warnings - Taltz affects the immune system. It may increase your risk of infections, some people have had serious infections, including tuberculosis (TB), and infections caused by bacteria, fungi, or viruses that can spread throughout the body. Some people have been hospitalized from these infections. Do not use Taltz if you have any symptoms of infection, unless your doctor tells you to. If you have a symptom after starting Taltz, call your doctor right away.

Your doctor should check you for TB before you start Taltz, and watch you closely for signs of TB during and after treatment with Taltz. If you have TB, or had it in the past, your doctor may treat you for it before you start Taltz.

Do not use Taltz if you have had a serious allergic reaction to ixekizumab or any other ingredient in Taltz, such as: swelling of your eyelids, lips, mouth, tongue or throat, trouble breathing, feeling faint, throat or chest tightness, or skin rash. Get emergency help right away if you have any of these reactions. See the Medication Guide that comes with Taltz for a list of ingredients.

Severe skin reactions that look like eczema can happen during treatment with Taltz from days to months after your first dose and can sometimes lead to hospitalization. Your doctor may temporarily stop treatment with Taltz if you develop severe skin reactions. Tell your doctor if you have any of the following: redness or rash, itching, patches, your skin is dry or feels like leather, blisters or abrasions that ooze or become crusty, small bumps or plaques with scale or crusting.

Crohn's disease or ulcerative colitis (inflammatory bowel disease) can start or get worse with Taltz use. Tell your doctor if you have any of these symptoms or if they get worse: stomach pain, diarrhea, and weight loss.

You should not get live vaccines while taking Taltz. You should get the vaccines you need before you start Taltz.

Common side effects
The most common side effects of Taltz include:

Injection site reactions Nausea Upper respiratory infections Fungal skin infections Tell your doctor if you have any side effects. You can report side effects at 1-800-FDA-1088 or www.fda.gov/medwatch.

Before using
Before you use Taltz, review these questions with your doctor:

Are you being treated for an infection? Do you have an infection that does not go away or keeps coming back? Do you have TB or have you been in close contact with someone with TB? Do you have possible symptoms of an infection such as fever, cough, sores, diarrhea, or other symptoms? Ask your doctor about other possible symptoms. Do you have Crohn's disease or ulcerative colitis? Tell your doctor if:

You need any vaccines or have had one recently. You take prescription or over-the-counter medicines, vitamins, or herbal supplements. You are pregnant or planning to become pregnant. It is not known if Taltz can harm an unborn baby. Pregnancy Exposure Registry: There is a pregnancy registry to collect information about women who are exposed to Taltz during pregnancy. The purpose of this registry is to collect information about the health of you and your baby. If you become pregnant while taking Taltz, you are encouraged to enroll in the pregnancy registry by calling 1-800-284-1695 or by visiting online at http://www.pregnancyregistry.lilly.com. You are breastfeeding or planning to breastfeed. It is not known if Taltz passes into breastmilk. How to take
See the instructions for use that come with Taltz. There you will find information about how to store, prepare, and inject Taltz. Adults may self-inject after receiving training from a healthcare provider.

For children 6 to 17 years of age:

If your child's healthcare provider decides that you may give Taltz injections at home, you should receive training on the right way to prepare and inject Taltz. Do not try to give Taltz to your child until you have been shown how to inject Taltz. Children should not inject themselves with Taltz. You or an adult caregiver should prepare and give Taltz injections to your child. Learn more
Taltz is a prescription medicine available as a 80 mg/mL, 40 mg/0.5mL, 20 mg/0.25mL injection. For more information, call 1-800-545-5979 or go to taltz.lilly.com.

This summary provides basic information about Taltz but does not include all information known about this medicine. Read the information that comes with your prescription each time your prescription is filled. This information does not take the place of talking with your doctor. Be sure to talk to your doctor or other healthcare provider about Taltz and how to take it. Your doctor is the best person to help you decide if Taltz is right for you.

IX CON BS 20AUG2024

ZEPBOUND INDICATIONS AND SAFETY SUMMARY WITH WARNINGS
Zepbound® (ZEHP-bownd) is an injectable prescription medicine used with a reduced-calorie diet and increased physical activity to help adults with:

obesity, or some adults with overweight who also have weight-related medical problems, to lose excess body weight and keep the weight off.  moderate-to-severe obstructive sleep apnea (OSA) and obesity to improve their OSA. Zepbound contains tirzepatide and should not be used with other tirzepatide-containing products or any GLP-1 receptor agonist medicines. It is not known if Zepbound is safe and effective for use in children.

Warnings - Zepbound may cause tumors in the thyroid, including thyroid cancer. Watch for possible symptoms, such as a lump or swelling in the neck, hoarseness, trouble swallowing, or shortness of breath. If you have any of these symptoms, tell your healthcare provider.

Do not use Zepbound if you or any of your family have ever had a type of thyroid cancer called medullary thyroid carcinoma (MTC). Do not use Zepbound if you have Multiple Endocrine Neoplasia syndrome type 2 (MEN 2). Do not use Zepbound if you have had a serious allergic reaction to tirzepatide or any of the ingredients in Zepbound. KwikPen®: Do not share your KwikPen with other people, even if the pen needle has been changed. You may give other people a serious infection or get a serious infection from them.

Zepbound may cause serious side effects, including:
Severe stomach problems. Stomach problems, sometimes severe, have been reported in people who use Zepbound. Tell your healthcare provider if you have stomach problems that are severe or will not go away.

Dehydration leading to kidney problems. Diarrhea, nausea, and vomiting may cause a loss of fluids (dehydration), which may cause kidney problems. It is important for you to drink fluids to help reduce your chance of dehydration. Tell your healthcare provider right away if you have nausea, vomiting, or diarrhea that does not go away.

Gallbladder problems. Gallbladder problems have happened in some people who use Zepbound. Tell your healthcare provider right away if you get symptoms of gallbladder problems, which may include pain in your upper stomach (abdomen), fever, yellowing of skin or eyes (jaundice), or clay-colored stools.

Inflammation of the pancreas (pancreatitis). Stop using Zepbound and call your healthcare provider right away if you have severe pain in your stomach area (abdomen) that will not go away, with or without nausea or vomiting. You may feel the pain from your abdomen to your back.

Serious allergic reactions. Stop using Zepbound and get medical help right away if you have any symptoms of a serious allergic reaction, including swelling of your face, lips, tongue or throat, problems breathing or swallowing, severe rash or itching, fainting or feeling dizzy, or very rapid heartbeat.

Low blood sugar (hypoglycemia). Your risk for getting low blood sugar may be higher if you use Zepbound with medicines that can cause low blood sugar, such as a sulfonylurea or insulin. Signs and symptoms of low blood sugar may include dizziness or light-headedness, sweating, confusion or drowsiness, headache, blurred vision, slurred speech, shakiness, fast heartbeat, anxiety, irritability, mood changes, hunger, weakness or feeling jittery.

Changes in vision in patients with type 2 diabetes. Tell your healthcare provider if you have changes in vision during treatment with Zepbound.

Food or liquid getting into the lungs during surgery or other procedures that use anesthesia or deep sleepiness (deep sedation). Zepbound may increase the chance of food getting into your lungs during surgery or other procedures. Tell all your healthcare providers that you are taking Zepbound before you are scheduled to have surgery or other procedures.

Common side effects
The most common side effects of Zepbound include nausea, diarrhea, vomiting, constipation, stomach (abdominal) pain, indigestion, injection site reactions, feeling tired, allergic reactions, belching, hair loss, and heartburn. These are not all the possible side effects of Zepbound. Talk to your healthcare provider about any side effect that bothers you or doesn't go away.

Tell your doctor if you have any side effects. You can report side effects at 1-800-FDA-1088 or www.fda.gov/medwatch. 

Before using Zepbound 

Your healthcare provider should show you how to use Zepbound before you use it for the first time.  Talk to your healthcare provider about low blood sugar and how to manage it. Tell your healthcare provider if you are taking medicines to treat diabetes including an insulin or sulfonylurea.  If you take birth control pills by mouth, talk to your healthcare provider before you use Zepbound. Birth control pills may not work as well while using Zepbound. Your healthcare provider may recommend another type of birth control for 4 weeks after you start Zepbound and for 4 weeks after each increase in your dose of Zepbound. Review these questions with your healthcare provider: 

❑ Do you have other medical conditions, including problems with your pancreas, or severe problems with your stomach, such as slowed emptying of your stomach (gastroparesis) or problems digesting food?
❑ Do you take diabetes medicines, such as insulin or sulfonylureas?
❑ Do you have a history of diabetic retinopathy?
❑ Are you scheduled to have surgery or other procedures that use anesthesia or deep sleepiness (deep sedation)?
❑ Do you take any other prescription medicines or over-the-counter drugs, vitamins, or herbal supplements?
❑ Are you pregnant, plan to become pregnant, breastfeeding, or plan to breastfeed? Zepbound may harm your unborn baby. Tell your healthcare provider if you become pregnant while using Zepbound. Zepbound may pass into your breast milk. You should talk with your healthcare provider about the best way to feed your baby while using Zepbound.

Pregnancy Exposure Registry: There will be a pregnancy exposure registry for women who have taken Zepbound during pregnancy. The purpose of this registry is to collect information about the health of you and your baby. Talk to your healthcare provider about how you can take part in this registry, or you may contact Lilly at 1-800-LillyRx (1-800-545-5979). How to take 

Read the Instructions for Use that come with Zepbound. Use Zepbound exactly as your healthcare provider says. Use Zepbound with a reduced-calorie diet and increased physical activity. Inject Zepbound under the skin (subcutaneously) of your stomach (abdomen), thigh, or 
have another person inject in the back of the upper arm. Do not inject ZEPBOUND into a muscle (intramuscularly) or vein (intravenously). Use Zepbound 1 time each week, at any time of the day.  Change (rotate) your injection site with each weekly injection. Do not use the same site for each injection. If you take too much Zepbound, call your healthcare provider, call the Poison Help line at 1-800-222-1222 or go to the nearest hospital emergency room right away.

Zepbound is approved as a 2.5 mg, 5 mg, 7.5 mg, 10 mg, 12.5 mg, and 15 mg injection.

Learn more
Zepbound is a prescription medicine. For more information, call 1-800-LillyRx (1-800-545-5979) [or go to www.zepbound.lilly.com].

This summary provides basic information about Zepbound but does not include all information known about this medicine. Read the information that comes with your prescription each time your prescription is filled. This information does not take the place of talking with your healthcare provider. Be sure to talk to your healthcare provider about Zepbound and how to take it. Your healthcare provider is the best person to help you decide if Zepbound is right for you.

ZP CON BS 25FEB2026
Zepbound®, its delivery device base and KwikPen® are registered trademarks owned or licensed by Eli Lilly and Company, its subsidiaries, or affiliates.

About Lilly
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram, and LinkedIn. P-LLY

Trademarks and Trade Names 
All trademarks or trade names referred to in this press release are the property of the company, or, to the extent trademarks or trade names belonging to other companies are references in this press release, the property of their respective owners. Solely for convenience, the trademarks and trade names in this press release are referred to without the ® and ™ symbols, but such references should not be construed as any indicator that the company or, to the extent applicable, their respective owners will not assert, to the fullest extent under applicable law, the company's or their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.

Cautionary Statement Regarding Forward-Looking Statements 
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about Taltz (ixekizumab) as a treatment for moderate to severe plaque psoriasis and active psoriatic arthritis and Zepbound (tirzepatide) as a treatment for adults with obesity or overweight, and potential comprehensive treatment strategies for patients with psoriatic disease and obesity, and reflects Lilly's current beliefs and expectations. However, as with any pharmaceutical product, there are substantial risks and uncertainties in the process of drug research, development and commercialization. Among other things, there is no guarantee that future study results will be consistent with the results to date, or that Lilly will execute its strategies as planned. For further discussion of these and other risks and uncertainties that could cause actual results to differ from Lilly's expectations, see Lilly's Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.

References
1 Armstrong et al, Addressing the Obesity-Psoriasis Connection: Prevalence, Incidence, and Comorbidity Insights from a Large US Population of 19.9 Million (2018-2024). Presented at Maui Derm, 2026.
2 Estimated from a large real-world population of care-seeking adults in the US in 2024, Truveta (data on file). Comorbidities include atherosclerotic cardiovascular disease (ASCVD), type 2 diabetes mellitus (T2DM), dyslipidemia, hypertension, obstructive sleep apnea (OSA).
3 Enos, Clinton W. et al. Comorbid obesity and history of diabetes are independently associated with poorer treatment response to biologics at 6 months: A prospective analysis in Corrona Psoriasis Registry. Journal of the American Academy of Dermatology, Volume 86, Issue 1, 68 - 76.
4 Proft F, et al. Nat Rev Rheumatol. 2026 Feb;22(2):132-144.
5 di Minno MN, et al. Arthritis Care Res (Hoboken). 2013;65(1):141-147. 
6 Taltz. Prescribing Information. Lilly USA, LLC.
7 Zepbound. Prescribing Information. Lilly USA, LLC.

SOURCE Eli Lilly and Company

Key Takeaways Medtronic expects Q1 growth across Cardiovascular, Neuroscience, MedSurg and Diabetes.MDT's Cardiovascular growth may be led by PFA momentum and strength in Cardiac Rhythm Management.MDT's MiniMed launches and sensor integrations are expected to boost Diabetes revenues. Medtronic plc (MDT - Free Report) is slated to report its first-quarter fiscal 2027 results on Sept. 1, before the opening bell.

The Zacks Consensus Estimate for the company’s first-quarter earnings per share (EPS) suggests 10.3% year-over-year growth to $1.39. The estimate has remained constant in the past 60 days. The consensus mark for first-quarter revenues currently stands at $9.47 billion, implying a 10.4% increase over the prior-year period. 

Image Source: Zacks Investment Research

Medtronic has a solid earnings surprise history, beating estimates in each of the past four quarters, with an average surprise of 2.3%.

Image Source: Zacks Investment Research

Q1 Earnings Whispers for MDTPer our proven model, a stock with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, has a higher chance of beating estimates. This is not the case here, as you can see below.

Earnings ESP: Medtronic has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Zacks Rank: The company currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks Rank #1 stocks here.

Factors Likely to Have Shaped MDT’s Q1 PerformanceCardiovascularThe segment is likely to have witnessed a solid performance across both U.S. and international markets. Within this, Cardiac Ablation Solutions (“CAS”) is expected to have remained the key growth driver, supported by momentum in the pulsed field ablation portfolio, which grew 145% in the previous quarter. The launch of the Sphere-9 catheter in Japan may have also strengthened Medtronic’s position in the region. 

The company has also begun the global rollout of Prism-2, its next-generation mapping software, which offers improved navigation through hybrid impedance and magnetic mapping. In June 2026, Medtronic announced strategic investments in two privately held companies focused on the development of intracardiac echocardiography (ICE) catheter technologies, which may have provided an additional boost to revenues. 

Cardiac Rhythm Management may also have contributed, driven by Micra leadless pacemakers, Aurora implantable cardioverter defibrillator (EV-ICD) system and the SelectSecure 3830 lead.

In Structural Heart, revenues are expected to have benefited from continued international strength as well as stabilizing U.S. procedure volumes. Growth in the Symplicity Spyral renal denervation system, guide catheters and balloons, as well as Endovenous growth in Peripheral Vascular Health, may have boosted Coronary & Peripheral Vascular sales.

The Zacks Consensus Estimate implies Cardiovascular revenues will increase 15.2% year over year.

NeuroscienceMedtronic continues to invest across its Neuroscience portfolio to advance pipeline innovation and support long-term growth. Within this, Cranial and Spinal Technologies results in the fiscal first quarter may benefit from the continued adoption of the AiBLE ecosystem, with Core Spine and Neurosurgery also likely contributing to growth. The commercial rollout of the Stealth AXiS surgical system may have further advanced. In June, Medtronic received the CE mark for the ear, nose and throat indications, expanding the platform’s reach.

Neuromodulation performance is expected to have been led by the Inceptiv closed-loop spinal cord stimulator, the Percept RC neurostimulator with BrainSense technology, and Interventional products.

Medtronic completed two acquisitions within this business. The Scientia Vascular acquisition in June adds a portfolio of guidewires and catheters to its existing neurovascular product lineup, while the July acquisition of SPR Therapeutics, Inc. (SPR) expands its ability to serve patients across the pain care continuum.

The Zacks Consensus Estimate expects Neuroscience revenues to grow 10.7% year over year.

Medical Surgical (MedSurg)In the fiscal first quarter, MedSurg performance is expected to have been driven by solid growth in Advanced Energy and Wound Management, alongside higher contribution from the Hugo robotic-assisted surgery system. However, similar to recent trends, continued pressure on U.S. bariatric surgery procedure volumes may have partially offset this growth.

Endoscopy is likely to have been a growth driver, with sales benefiting from strong adoption of Endoflip in the United States and Western Europe, as well as from U.S. market share gains of the Nexpowder hemostasis system. Acute Care and Monitoring may have gained from strength in Nellcor pulse oximetry, respiratory and airways and in perioperative.

The Zacks Consensus Estimate for MedSurg’s revenues suggests a 7.6% year-over-year increase.

DiabetesMiniMed, Medtronic’s diabetes business, completed an initial public offering in March, with approximately 10% of its ownership sold and its shares beginning to trade on the Nasdaq Global Select Market. Medtronic continues to hold approximately 90% ownership in MiniMed.

In the first quarter of fiscal 2027, the business is likely to have witnessed robust international contributions from the continued adoption of the MiniMed 780G Automated Insulin Delivery (AID) system, including the Simplera Sync and Guardian 4 continuous glucose monitoring sensors and Extended Infusion Sets. U.S. momentum may also have continued following the late-2025 launches of the Simplera Sync and Abbott’s Instinct sensors. 

The quarter also saw several key developments. MiniMed announced the commercial availability of MiniMed Flex, its smallest app-controlled insulin pump powered by the advanced SmartGuard algorithm. The system is FDA cleared for people with type 1 diabetes aged 7 years and older, as well as adults aged 18 years and older with insulin-requiring type 2 diabetes and is paired with the Simplera Sync sensor. MiniMed Flex is also now available to Medicare and Medicare Advantage beneficiaries.

MiniMed launched the MiniMed 780G system integrated with Abbott’s Instinct sensor and the MiniMed Go system with the Instinct Go sensor in Europe. Together, these developments are expected to have strongly boosted overall revenues in the quarter.

The Zacks Consensus Estimate suggests Diabetes revenues will grow 15.1% year over year.

MDT Stock Price PerformanceOver the past three months, Medtronic shares have outperformed the industry and the broader Medical sector.

Image Source: Zacks Investment Research

The stock has also fared better than major peers like Boston Scientific (BSX - Free Report) , whose shares fell 2%, while Edward Lifesciences (EW - Free Report) gained 4.8%. Boston Scientific’s second-quarter 2026 revenues and EPS surpassed the Zacks Consensus Estimate by 1.1% and 3.6%, respectively. However, the company lowered its 2026 sales and earnings outlook after slower WATCHMAN demand, U.S. electrophysiology share losses and limited operating leverage weakened near-term visibility. Meanwhile, Edwards’ second-quarter revenues and EPS topped the consensus mark by 2.4% and 6.8%, respectively.

MDT’s ValuationMedtronic trades at a forward five-year Price/Earnings (P/E) of 14.98X, lower than its median of 15.73X and the industry average of 17.74X.

Image Source: Zacks Investment Research

EndnoteMedtronic’s upcoming fiscal first-quarter results are expected to reflect ongoing momentum in CAS, as well as strength in businesses such as Cardiac Rhythm Management and Cranial and Spinal Technologies. At the same time, the company is also advancing its M&A and venture initiatives, targeting higher-growth segments to accelerate innovation.

While current indicators do not point to a strong earnings beat, the company has a consistent earnings surprise history, which is encouraging. Medtronic’s recent stock performance has been impressive, outpacing the key benchmarks and peers. Existing MDT shareholders should consider holding their positions, supported by the company’s attractive valuation.  

Key Takeaways Medtronic's Cardiovascular business grew 9.3% organically in fiscal 2026, led by strong rhythm growth.MDT's Hypertension momentum builds as Symplicity Spyral gains access and procedures double after the NCD.Medtronic faces tariff costs and currency risks, with fiscal 2027 guidance signalling a revenue drag. Medtronic plc (MDT - Free Report) is well-poised for growth in the upcoming quarters due to strong momentum in its Cardiovascular businesses, both in the United States and internationally. In Neuroscience, the company is investing across the portfolio to advance pipeline innovation and long-term growth. Medtronic’s Hypertension business could benefit from a large unmet need as renal denervation moves into broader use. Yet, macroeconomic pressures and adverse foreign exchange impacts may weigh on the company’s results.

Over the past year, this Zacks Rank #3 (Hold) stock has gained 0.1% against the industry’s 23.1% decline and the S&P 500 composite’s 20.2% rise.

The renowned medical device company has a market capitalization of $116.67 billion. Medtronic has an earnings yield of 6.5% compared with the industry’s yield of 2.6%. MDT’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 2.3%.

Let’s delve deeper.

Tailwinds for MDTMarket Share Gain Within Cardiovascular to Continue: Medtronic is expanding its global foothold within the Cardiovascular business. Fiscal 2026 Cardiovascular revenues grew 9.3% organically, while fourth-quarter revenues rose 10.1% organically, led by 18.2% growth in Cardiac Rhythm & Heart Failure. Cardiac Ablation Solutions delivered 78% growth, including 124% growth in the United States, and gained 8 U.S. share points.

Cardiac Rhythm Management grew in the mid-single digits, supported by Micra, the SelectSecure 3830 lead, Aurora EV-ICD and OmniaSecure. Peripheral Vascular Health also benefits from the full market release of Liberant mechanical thrombectomy and Neuroguard IEP carotid stenting. These platforms support continued share capture across several cardiovascular categories, while fiscal 2027 commentary calls for Cardiovascular performance broadly in line with fiscal 2026.

Image Source: Zacks Investment Research

Neuroscience Portfolio Shows Growth Prospects: Medtronic’s Neuroscience portfolio remains broad, with growth opportunities across Cranial & Spinal Technologies, Specialty Therapies and Neuromodulation. Fiscal 2026 Neuroscience revenues rose 3.1% organically, and fourth-quarter growth was 3% organically, led by 6% growth in international markets. Within CST, Core Spine grew 6% in the fourth quarter, supported by ModuleX expansion and distributor conversions.

Stealth AXiS secured FDA clearance for spine, cranial and ENT indications and CE Mark for spine and cranial indications, which broadens the platform’s contribution to AiBLE. Specialty Therapies grew 3.4% organically in the fourth quarter, while Neurovascular rose 6% as hemorrhagic products advanced 11% with Neuroguard and Artisse adoption. In Pelvic Health, Altaviva is gaining traction, with active implanters up threefold sequentially and patients treated up 2.5 times. In Neuromodulation, SPR Therapeutics and ViaVerte expand Medtronic’s reach into chronic pain therapies and BVNA.

Hypertension, A New Focus Area: Medtronic’s Hypertension business is entering a broader commercial ramp-up through the Symplicity Spyral renal denervation procedure. The final Medicare National Coverage Determination enabled broader access, and procedure momentum improved after reimbursement clarity. Management noted that average weekly procedures doubled after the NCD, and Symplicity is now annualizing at $100 million.

The company estimates roughly 18 million people in the United States live with uncontrolled hypertension despite multiple medications. Long-term data in more than 2,000 patients showed sustained mean systolic BP reductions of 13.3 millimeters of mercury in ambulatory settings and 18.1 millimeters of mercury in office settings in three years. This evidence, combined with expanding reimbursement and patient demand, supports management’s view that renal denervation can become a multi-billion-dollar opportunity over time.

Downsides for MDTMacroeconomic Issues Hamper Market Growth: Medtronic’s operations remain vulnerable to cost inflation, reimbursement constraints, geopolitical disruption and changing global trade policies. Tariffs impacted the business by 80 basis points (bps) in the fourth quarter of fiscal 2026 after a 110 bps impact in the third quarter. For fiscal 2027, management expects tariff impact on the cost of goods sold (COGS) of approximately $250 million, up $65 million year over year, with no government refund assumed.

Exposure to Currency Movement: Medtronic generates a large portion of sales internationally, leaving reported results sensitive to exchange rates. Foreign exchange added $819 million to fiscal 2026 revenues, but fiscal 2027 guidance assumes a neutral to $100 million revenue drag.

MDT Stock Estimate TrendThe Zacks Consensus Estimate for Medtronic’s fiscal 2027 earnings per share (EPS) has remained constant at $5.94 in the past 30 days.

The consensus estimate for the company’s fiscal 2027 revenues is pegged at $38.64 billion, implying a 6.3% increase from the year-ago reported number.

Key PicksSome better-ranked stocks in the broader medical space are Globus Medical (GMED - Free Report) , Veracyte (VCYT - Free Report) and Teleflex (TFX - Free Report) .

Globus Medical has an earnings yield of 5.8% compared to the industry’s negative 1.7% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 27.9%. GMED shares have rallied 35.1% against the industry’s 3.5% decline over the past year.

GMED sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Veracyte, sporting a Zacks Rank #1, has an earnings yield of 4.6% against the industry’s negative 1.7% yield. Shares of the company have risen 47.8% against the industry’s 3.5% plunge. VCYT’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 41.8%. 

Teleflex, carrying a Zacks Rank #2 (Buy), has an estimated long-term earnings growth rate of 20.7% compared with the industry’s 12.8% growth. Its earnings beat estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 3.2%. TFX shares have rallied 9.9% against the industry’s 3.5% fall over the past year.

Beacon Pointe Advisors LLC trimmed its stake in shares of Union Pacific Corporation (NYSE:UNP – Free Report) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,545 shares of the railroad operator’s stock after selling 1,780 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Union Pacific were worth $13,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of UNP. Tucker Asset Management LLC bought a new position in Union Pacific in the 4th quarter worth $25,000. SWAN Capital LLC boosted its stake in shares of Union Pacific by 2,575.0% during the 4th quarter. SWAN Capital LLC now owns 107 shares of the railroad operator’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. Wiser Advisor Group LLC purchased a new position in shares of Union Pacific during the second quarter valued at about $30,000. Scarborough Advisors LLC bought a new position in Union Pacific in the first quarter worth about $27,000. Finally, Cornerstone Financial Management LLC purchased a new stake in Union Pacific in the fourth quarter worth about $27,000. Institutional investors own 80.38% of the company’s stock.

More Union Pacific News Here are the key news stories impacting Union Pacific this week:

Positive Sentiment: New analyst coverage adds support: Erste Group Bank AG initiated coverage of Union Pacific with a “buy” rating, signaling confidence in the railroad’s valuation and outlook. Erste Group Bank coverage Positive Sentiment: Dividend and earnings backdrop remains favorable: Union Pacific is being highlighted as a dividend-growth railroad, and recent quarterly results showed earnings and revenue above analyst expectations, with revenue up year over year. These factors reinforce the company’s appeal to income and quality-focused investors. Dividend-paying railroad stocks Neutral Sentiment: Merger application advances: Union Pacific and Norfolk Southern submitted expanded customer protections to the Surface Transportation Board, including broader eligibility for committed gateway pricing. The proposed terms could improve the prospects for approval of the first single-line transcontinental railroad network, although the transaction remains subject to a lengthy regulatory review. Union Pacific and Norfolk Southern merger protections Neutral Sentiment: Management will address investors: CEO Jim Vena and CFO Jennifer Hamann are scheduled to participate in a Bernstein Research fireside chat on September 1. Investors may look for updates on merger strategy, rail efficiency and operating trends. Union Pacific Bernstein fireside chat Negative Sentiment: Regulatory and efficiency risks remain: The companies continue defending the merger against opponents’ challenges, while new analysis describes Union Pacific as facing a fresh test of rail efficiency. Any tougher STB scrutiny or evidence of operational weaknesses could temper merger-driven optimism. Merger application regulatory review Wall Street Analyst Weigh In Several research analysts have recently issued reports on UNP shares. Bank of America increased their target price on Union Pacific from $301.00 to $334.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Wells Fargo & Company reissued an “overweight” rating and set a $335.00 price objective (up from $315.00) on shares of Union Pacific in a research report on Friday, July 24th. Erste Group Bank assumed coverage on shares of Union Pacific in a report on Thursday. They set a “buy” rating on the stock. Stephens upgraded shares of Union Pacific to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Benchmark boosted their price objective on shares of Union Pacific from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $320.89. Check Out Our Latest Research Report on Union Pacific

Union Pacific Stock Performance UNP stock opened at $307.82 on Friday. The stock’s 50 day simple moving average is $291.07 and its 200 day simple moving average is $269.81. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 1.40. Union Pacific Corporation has a 12-month low of $210.84 and a 12-month high of $315.99. The stock has a market capitalization of $182.87 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 3.12 and a beta of 0.96.

Union Pacific (NYSE:UNP – Get Free Report) last posted its earnings results on Thursday, July 23rd. The railroad operator reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.15. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.72 billion. Union Pacific had a return on equity of 38.46% and a net margin of 28.85%.The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.03 EPS. As a group, research analysts forecast that Union Pacific Corporation will post 13.01 earnings per share for the current fiscal year.

Union Pacific Increases Dividend The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 31st will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Union Pacific’s previous quarterly dividend of $1.38. This represents a $5.68 annualized dividend and a dividend yield of 1.8%. Union Pacific’s dividend payout ratio is presently 44.70%.

Insiders Place Their Bets In related news, EVP Eric J. Gehringer sold 2,991 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $263.96, for a total transaction of $789,504.36. Following the transaction, the executive vice president owned 43,012 shares in the company, valued at $11,353,447.52. This represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is currently owned by company insiders.

Union Pacific Profile (Free Report)

Union Pacific Corporation (NYSE: UNP) is one of the largest freight railroad companies in the United States. Its principal operating subsidiary, Union Pacific Railroad, has roots that trace back to the Pacific Railway Act of 1862 and the construction of the first transcontinental rail link completed in 1869. The company is headquartered in Omaha, Nebraska, and operates as a holding company for rail transportation and related services.

Union Pacific’s core business is the movement of freight by rail across an extensive rail network serving the western two‑thirds of the United States.

Read More Five stocks we like better than Union Pacific 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude? Okta Stock Surges 29%—Is $200 the Next Stop? Want to see what other hedge funds are holding UNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Union Pacific Corporation (NYSE:UNP – Free Report).

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Shares of HDFC Bank, India's largest private sector lender, rose 2.5% Monday before paring gains, after Chief Executive Sashidhar Jagdishan made a surprise announcement about exiting the bank after the end of his term in October.

Analysts believe that the successor's profile could offer the bank re-rating potential, especially as the stock has been battered since the start of the year. As per LSEG data, shares of HDFC have tanked 27% since the start of the year compared with an 8% drop of the benchmark Nifty 50 index.

The next chief executive will need to accelerate growth, improve deposit mobilization and returns, and rebuild confidence around governance and senior-management stability, global brokerage Nomura said in a report on Sunday.

"A credible successor could become a meaningful rerating catalyst," it said but added that the stock would "remain under pressure in the near term" until there is clarity on the next chief executive and the direction in which he will steer the bank.

This is the second time this year that the bank has been embroiled in a leadership crisis. In March, the bank's part-time chair Atanu Chakraborty resigned after flagging governance and ethical concerns within the institution.

"Despite persuasion, Mr. Jagdishan reiterated his decision to not seek reappointment," HDFC said in a release on Saturday, adding it will "fast-track the process for selection and appointment of his successor."

Succession planKaizad Bharucha, the deputy managing director of the bank, is the most likely internal choice to replace Jagdishan, Citi and Jefferies said in their latest reports.

Some of the other candidates named in the Jefferies report on Monday include Anup Bagchi, CEO ICICI Pru Life; Paresh Sukthankar, former deputy MD at HDFC Bank; Vibha Padalkar, chief executive of HDFC Life; and Amitabh Chaudhry, CEO, Axis Bank.

Jefferies, which continues to have a buy rating on HDFC Bank, said that the uncertainty over leadership "can lift cost of equity, leading to lower valuation" but said that after the share drop earlier this year the "risk-reward is balanced," at a price-to-book ratio of 1.5 times.

Citi in its report on Sunday said that the new CEO needs to demonstrate strategic competence to deliver a credible path to scale up net interest margins and return on assets and a decisive growth trajectory with market share gain.

During Jagdishan's tenure, HDFC Bank completed a $40 billion takeover of the country's largest mortgage lender, the synergies from which are yet to be fully realized, as per analysts.

, /CNW/ -- Royal Bank of Canada (TSX: RY) (NYSE: RY) announced today that its board of directors has declared a quarterly common share dividend of $1.76 per share, payable on or after November 24, 2026, to common shareholders of record at the close of business on October 26, 2026.

The board also declared a dividend for the following Non-Cumulative First Preferred Shares, payable on or after November 24, 2026, to shareholders of record at the close of business on October 26, 2026.

Series BO of $0.3678125 per share The board also declared dividends for the following Non-Cumulative First Preferred Shares, payable on or after November 24, 2026, to shareholders of record at the close of business on November 17, 2026.

Series BW of $33.49 per share For further information, please contact:

Investor Contact:
Asim Imran, Investor Relations, [email protected], 416-955-7804

Media Contact:
Heather Colquhoun, Financial Communications, [email protected], 437-994-5044

SOURCE Royal Bank of Canada

VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?Royal Bank Of Canada NYSE: RY reported record third-quarter earnings of CAD 6 billion, up 11% from a year earlier, as broad-based revenue growth across its banking, wealth management and capital-markets businesses supported profitability.

Diluted earnings per share were CAD 4.23, while adjusted diluted EPS was CAD 4.28, also up 11% year over year. Chief Executive Officer Dave McKay said revenue rose 9%, supported by client activity, a diversified business mix and a favorable market backdrop. The bank generated adjusted operating leverage of 2.4% and reported an adjusted efficiency ratio of 52%.

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BitMine’s Ethereum Bet Is Only Part of the StoryRBC’s return on equity was 17.9%, while its Common Equity Tier 1 capital ratio remained at 13.5%. The bank generated 80 basis points of capital internally during the quarter and deployed 85 basis points through business growth, dividends and share repurchases. RBC repurchased 5.6 million shares for approximately CAD 1.6 billion during the period.

Growth Across Major Businesses Personal Banking produced CAD 1.9 billion of earnings, with Canadian personal-banking net income down 1% year over year. Revenue reached a record and increased 4%, while net interest income rose 5%. Excluding the effect of lower purchase price adjustments related to RBC’s acquisition of HSBC Bank Canada, personal-banking net interest income increased 8%, driven by 4% loan growth and higher margins.

3 High-Risk Stocks That Soared in 2025 But Can Still Fly HigherMcKay said sequential mortgage growth reached 1.8%, the strongest level since the HSBC Canada acquisition. Credit-card balances increased 7% from the prior year, while the combined total of average retail deposits and mutual-fund assets under administration increased 8%, or CAD 47 billion. RBC also cited record new-account acquisition at its Avion Rewards program.

Commercial Banking reported record net income of CAD 936 million, up 12% from a year earlier. Revenue increased 5%, driven mainly by higher volumes and margins. Deposits rose 9% year over year and 6% sequentially, while loans increased 4% year over year and 1% sequentially. The segment’s loan-to-deposit ratio improved three percentage points to 58%.

Commercial Banking Group Head Sean Amato-Gauci said loan growth accelerated during the quarter, with July representing the business’s strongest monthly growth in a year. He cited activity in agriculture, healthcare, the public sector and certain real-estate categories. He also said RBC’s HSBC client-retention trends were below the attrition levels modeled during due diligence.

Capital Markets and Wealth Set Records Capital Markets posted record net income of CAD 1.5 billion, up 16% from the prior year, with record pre-provision, pre-tax earnings of CAD 2 billion. Global markets revenue increased 11%, supported by equities trading and non-trading and financing portfolios, partly offset by weaker rates-trading activity amid muted client demand.

Corporate and investment-banking revenue rose 16%, including a 23% gain in investment-banking revenue. McKay said higher origination and merger-and-acquisition activity contributed to RBC’s market share reaching 2.1% over the past 12 months. Lending and transaction-banking revenue rose 10%, helped by loan and deposit growth.

Group Head of Capital Markets Derek Neldner said the artificial-intelligence capital-expenditure cycle is creating opportunities across technology, data centers, power, energy and critical minerals. He said RBC is using lending relationships to support investment banking, transaction banking, trading and wealth-management activity.

Wealth Management earned CAD 1.4 billion, up 32% year over year, as revenue reached a record and the segment’s pre-tax margin rose four percentage points to 29.3%. Non-interest income grew 16%, supported by market appreciation, positive net sales, new assets and increased transaction activity. Canadian and U.S. wealth-management assets under administration increased 20% and 14%, respectively.

RBC Direct Investing benefited from nearly 40% year-over-year growth in trading volumes. Group Head of Wealth Management and Insurance Neil McLaughlin said the bank does not expect a required step-up in investment spending to sustain current growth, noting that technology and artificial-intelligence initiatives are being funded within the existing investment envelope.

Transaction Banking and U.S. Expansion RBC said it is building a global transaction-banking business intended to provide an integrated offering for commercial and wholesale clients operating across borders. McKay said the effort will combine the bank’s existing technology platforms and enable a more focused global go-to-market strategy.

Neldner said RBC expects to make organizational changes over the next 60 to 90 days while seeking to avoid disrupting momentum in existing businesses. The bank plans to introduce performance indicators over time to track the broader transaction-banking initiative.

In the United States, City National Bank earned $184 million during the quarter, supported by 8% loan growth and 5% deposit growth. RBC said its U.S. region efficiency ratio improved to 75% year to date, closer to its target in the low-70% range. McKay said the company sees substantial organic growth opportunities at City National, including expansion into the Southeast and potentially Texas, as well as product cross-selling to wealth clients.

Credit Trends and Outlook Chief Risk Officer Graeme Hepworth said RBC retained elevated weightings to downside scenarios in its provisioning process because of geopolitical tensions and uncertain trade policy. The bank recorded CAD 21 million, or one basis point, of provisions on performing loans.

Provisions on impaired loans were 35 basis points, up one basis point from the prior quarter. Gross impaired loans rose CAD 353 million, led by Capital Markets and Wealth Management, partly offset by lower impaired loans in Commercial Banking. RBC took an additional CAD 120 million provision related to a previously impaired utility-sector borrower because of increased uncertainty surrounding resolution of that exposure.

Hepworth said retail-credit indicators were showing signs of stabilization, though delinquencies in unsecured products, particularly credit cards, remained elevated. RBC expects full-year 2026 provisions on impaired loans to remain within its previously guided range.

Looking ahead, RBC reiterated its full-year targets. It said all-bank net interest income excluding trading was up 7% year to date and remained on track for its mid-single-digit growth guidance. The bank expects Canadian banking margins to be relatively stable in the fourth quarter, as structural tailwinds are offset by competition for mortgages and term deposits. RBC also continues to expect positive all-bank operating leverage for the full year.

About Royal Bank Of Canada (NYSE:RY)Royal Bank of Canada NYSE: RY is a diversified financial services company and one of Canada's largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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