cnbc_topnews

Novo Nordisk shares dive 9% after heart medicine fails trial

📰 source: cnbc_topnews · 💼 business

novo nordisk shares dropped as much as 10% on friday after a late-stage trial for its heart drug ziltivekimab failed to reduce major adverse cardiovascular events compared to placebo. the study of over 6,300 patients with atherosclerotic cardiovascular disease, chronic kidney disease and elevated inflammation missed its primary endpoint. overall mortality was unchanged, though serious infections were more common with the drug.

chief scientific officer martin holst lange said the result doesn't change the company's strategic commitment to cardiovascular disease. analysts at jefferies and citi called the selloff disproportionate, but jefferies noted it removes one of novo's more credible non-obesity growth opportunities. shares were down 7.4% in copenhagen and 8.6% in premarket ads, turning negative for the year, coming into friday they were already down 7% year-to-date and about 70% off mid-2024 peak. the failure adds pressure as novo counts on pipeline including wegovy pill and cagrisema to compete with eli lilly, with q2 earnings due next week.

why it matters: failed heart drug removes a key non-obesity growth option, deepening novo's reliance on obesity meds and competitive pressure vs lilly.

source: cnbc_topnews
sentiment: -0.80 · impact: 0.70

Surprise fall in US jobs last month as slow summer continues

📰 source: bbc_business · 💼 business us jobs fell by 23,000 last month, against forecasts for an 80,000 gain, with the bureau of labor statistics also revising down may and june payrolls by a combined 103,000. the unemployment rate still dipped to 4.1% from 4.2%, as labor

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

📰 source: cnbc_topnews · 💼 business homes sold for less than their asking price in 38 of the 50 largest u.s. housing markets in june, per redfin. the biggest discounts hit florida and texas: miami and west palm beach averaged nearly 5% below asking, while houston, austin, tampa, dallas, san antonio,

China is gaining ground in AI. But the U.S. still has a major advantage

📰 source: cnbc_topnews · 💼 business hugging face ceo clément delangue told cnbc china is clearly dominating on open models and could start dominating at the frontier by end of this year or next. chinese models are closing the gap with u.s. frontier systems despite limited access to cutting-edge compute. beijing-based

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

📰 source: bbc_business · 💼 business rwe will abandon its offshore wind projects in the us after accepting a $1.2bn payout from the department of the interior. the german energy firm said it will reinvest the money into gas projects, including $900m for an lng export terminal in louisiana. rwe will

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects