Rumors that Amazon.com, Inc. AMZN 0.33% may soon be jumping into the pharmacy business have weighed on drug retailers Walgreens Boots Alliance Inc WBA 2.09% and CVS Health Corp CVS 2.85%. However, pharmacy benefit managers, which serve as middlemen between insurers and pharmaceutical companies, may be hit the hardest by new competition from Amazon.
It’s been a great year for the stock market in 2017, with the S&P 500 up 13.7 percent year to date. However, you wouldn’t know it by looking at oil services stocks, which have been hit hard by persistently low oil prices.
Nvidia Corporation NVDA 5.27% stock jumped 3.2 percent on Tuesday after the company issued two press releases related to Nvidia’s role in two of the highest-growth technology fields in the world — artificial intelligence and autonomous vehicles.
President Donald Trump continued his public spat with the NFL on Tuesday morning when he posted a tweet criticizing the NFL for taking advantage of “massive tax breaks” while also disrespecting the American flag by protesting during the national anthem before games.
Every year, World Wrestling Entertainment, Inc. WWE 0.74%investors and fanatics tune in for the Hell in a Cell pay-per-view event in anticipation of witnessing some memorable moments. This year’s event in Detroit on Oct. 8 did not disappoint, with CEO Vince McMahon’s own son providing the highlight of the night.
Earnings season is coming fast for capital markets stocks, and Bank of America analyst Michael Carrier has re-positioned several of his stock ratings ahead of what he sees as a decent overall quarter. According to Carrier, trends in the third quarter were mixed and included rising markets and short-term interest rates, but also relatively low volume and a weaker dollar.
Big bank earnings season is once again right around the corner, with Morgan Stanley MS 0.12% and Goldman Sachs Group Inc GS 0.27% set to report on Oct. 17.
DexCom, Inc. DXCM 0.71% shares got hammered Sept. 28 when rival Abbott Laboratories ABT 1.17% received FDA approval for its FreeStyle Libre flash glucose monitoring system. Investors see Abbott’s new system as a lower-priced alternative to DexCom’s continuous glucose monitoring, and shares plummeted 36 percent following the news.
Last week, Leerink analyst David Larsen said that it’s only a matter of time before Amazon.com, Inc. AMZN 0.33% takes the plunge into the pharmacy business and that Amazon could be selling prescription drugs within two years’ time. On Monday, Bernstein analyst Lance Wilkes said Amazon investors may not need to wait two years.
Puerto Rico bonds took a huge hit last week when President Trump suggested the U.S. government may eliminate the nation’s debt in wake of its ongoing financial crisis.