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By Staff Reporters
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The two tech giants posted earnings that showed they’re both on solid footing, despite investors’ concerns that growth would slow to a trickle. For Alphabet, Google search advertising revenue grew again after a quarter in the red. And Microsoft’s all-important cloud division posted better-than-expected sales. Both companies stated AI could impact their businesses, but they differed in their predictions: Microsoft characterized AI as a much more disruptive force than Google did.
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Get ready for earnings calls from pharmaceutical companies: Eli Lilly, AstraZeneca, AbbVie, and more quarterly calls this week. Investors will watch AbbVie’s sales numbers, as Amgen introduced the first biosimilar version of AbbVie’s blockbuster arthritis drug, Humira, in January. In its last call, AbbVie executives said they expected to lose $7.9 billion in Humira sales in 2023
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Here’s where the indexes ended yesterday.
- The S&P 500 Index was down 15.64 points (0.4%) at 4055.99; the Dow Jones industrial average was down 228.96 (0.7%) at 33,301.87; the NASDAQ Composite was up 55.19 (0.5%) at 11,854.35.
- The 10-year Treasury yield was up about 4 basis points at 3.439%.
- CBOE’s Volatility Index was up 0.17 at 18.84.
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Filed under: "Advisors Only", "Doctors Only", Alerts Sign-Up, Drugs and Pharma, Ethics, Experts Invited, Health Economics, Health Insurance, Investing, LifeStyle | Tagged: AbbVie, AMGEN, CBOE, crude, DJIA, DOW, Eli Lilly, gold, humira, NASDAQ, oil, S&P 500, Treasury yields, VIX |
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