Merck’s blockbuster cancer immunotherapy Keytruda just delivered its first $8 billion quarter, but the pharmaceutical giant faces a critical deadline. With patent protection expiring in 2028, the company is racing to cut costs and diversify beyond its flagship product.
Major midday stock movements include Super Micro Computer’s 7% drop after revenue forecast cuts and quantum computing stocks surging on potential government investment. Hexcel hits 52-week high while Southwest Airlines falls despite surprise profit.
Technology stocks experienced significant midday volatility, with Super Micro Computer slumping 7% after reportedly cutting its fiscal first-quarter revenue forecast to approximately $5 billion from previous estimates of $6 billion to $7 billion. Meanwhile, quantum computing shares surged following a Wall Street Journal report indicating the Trump administration is in talks to acquire equity stakes in several quantum computing companies. According to the analysis, Rigetti Computing gained 11%, while IonQ advanced 10% and Quantum Computing rose 8%.
Quantum computing stocks surged Thursday following reports of potential U.S. government investment in the sector. Meanwhile, mixed earnings results created wide divergences among major companies in premarket trading.
Quantum computing stocks experienced significant premarket gains Thursday following reports that the U.S. government is considering equity investments in several quantum computing firms, according to Wall Street Journal coverage. IonQ and Quantum Computing shares reportedly rose nearly 9%, while Rigetti Computing gained approximately 8% as investors reacted to the potential government backing in this emerging technology sector.
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Major financial institutions including JPMorgan Chase and Goldman Sachs report strong quarterly earnings, while General Motors faces electric vehicle charges. Rare earth miners surge on supply chain developments as several companies announce strategic moves affecting pre-market trading.
Pre-market trading activity shows significant movement across multiple sectors as companies report quarterly earnings and announce strategic developments. Financial heavyweights including JPMorgan Chase and Goldman Sachs lead the early session following better-than-expected results, while General Motors faces pressure from electric vehicle strategy changes and rare earth miners continue their rally on supply chain developments.
