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During this earnings season, Wall Street investors have been paying attention to stocks generating buzz in different sectors. Diversifying investments across the 11 sectors within the S&P 500 index could help weather short-term market volatility.
Amgen stock (NASDAQ NASDAQ : AMGN) has seen a solid 9% rise in a week, outperforming the broader S&P500 index, up 1.5%. The recent rise can be attributed to the progress with its weight-loss drug — MariTide and its upbeat Q1 results reported last week.
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Amgen (AMGN) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Former FDA Commissioner Dr. Scott Gottlieb joins 'Squawk Box' to discuss Amgen's new injectable weight loss drugs, how it takes a different approach from other weight loss drugs like Wegovy and Mounjaro, state of the obesity drug market, and more.
"The Dow® [adds a stock] if the company has an excellent reputation, demonstrates sustained growth, and is of interest to a large number of investors. Sector representation.is also a consideration.”–DowJones&Co. The highest-yield 10 stocks are May's Dogs of the Dow: HD, KO, AMGN, JNJ, CSCO, IBM, CVX, DOW, MMM, and VZ. They now average a 4.17% annual yield, as prices. Thirty Dow stocks represent nine of eleven sectors. DowJones tracks utilities as a separate index and omits real estate. Broker top-ten target-estimated May net-gains ranged 17.6%-38%, topped by INTC 5/1/24.
Amgen's shares surged after management's earnings call comments about the phase 2 trial of obesity candidate MariTide. These comments and previous phase 2 data point to the increasing possibility of Amgen becoming a real contender in the rapidly expanding obesity market. MariTide would be a good start for Amgen but additional solutions may be required to remain relevant in the obesity market in the long run.
The pharmaceutical sector mainstay published its first-quarter results. These beat on both the top and bottom lines.
Amgen (AMGN) beats first-quarter 2024 estimates for earnings and sales. Amgen is "very encouraged" by interim data from the phase II study on obesity candidate MariTide.