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The announcement follows a slew of price cuts from analysts after the company’s second-quarter outlook disappointed Wall Street.

US CPI data released yesterday showed inflation slightly lower than expected, boosting US stock markets and risk-on sentiment.

The deal is worth up to $2.2 billion, including more than $200 million in upfront and near-term payments.

Septerna CEO Jeffrey Finer said that the collaboration allows the company to create multiple oral medicines and provides the operational flexibility and resources to advance its portfolio of other GPCR-targeted programmes.

Electronic components distributor Avnet (NASDAQGS:AVT) met Wall Street’s revenue expectations in Q1 CY2025, but sales fell by 6% year on year to $5.32 billion. On the other hand, next quarter’s revenue guidance of $5.3 billion was less impressive, coming in 0.9% below analysts’ estimates. Its non-GAAP profit of $0.84 per share was 17.4% above analysts’ consensus estimates.

The Port of Los Angeles, one of the largest import gateways in the U.S., has issued a warning that the recent reduction in tariffs on Chinese goods may not be enough to reverse the declining cargo volume.

Leading data storage manufacturer Western Digital (NASDAQ: WDC) reported Q1 CY2025 results topping the market’s revenue expectations, but sales fell by 33.6% year on year to $2.29 billion. The company expects next quarter’s revenue to be around $2.45 billion, close to analysts’ estimates. Its non-GAAP profit of $1.36 per share was 22.7% above analysts’ consensus estimates.

Innovative Eyewear shares surge premarket after narrower-than-expected loss and strong growth in smart glasses product lines

Real estate services firm Newmark (NASDAQ:NMRK) beat Wall Street’s revenue expectations in Q1 CY2025, with sales up 21.8% year on year to $665.5 million. The company expects the full year’s revenue to be around $3 billion, close to analysts’ estimates. Its non-GAAP profit of $0.21 per share was 12.9% above analysts’ consensus estimates.

Power transmission and fluid power solutions provider Gates Corporation (NYSE:GTES) reported Q1 CY2025 results exceeding the market’s revenue expectations, but sales fell by 1.7% year on year to $847.6 million. Its non-GAAP profit of $0.36 per share was 8.9% above analysts’ consensus estimates.

Amazon's AWS and HUMAIN partner to invest $5 billion for AI Zone in Saudi Arabia, aiming to advance AI leadership goals and expand global demand.

The AUD/USD price analysis indicates solid wage growth in Australia.

Cisco unveils collaborations and initiatives related to AI advancements, including partnerships with BlackRock, Microsoft, NVIDIA, xAI, GE Vernova, and NextEra Energy.

Specialty construction contractor company EMCOR (NYSE:EME) reported Q1 CY2025 results exceeding the market’s revenue expectations, with sales up 12.7% year on year to $3.87 billion. The company’s full-year revenue guidance of $16.5 billion at the midpoint came in 0.8% above analysts’ estimates. Its non-GAAP profit of $5.26 per share was 13.7% above analysts’ consensus estimates.

Environmental and industrial services company Clean Harbors (NYSE:CLH) met Wall Street’s revenue expectations in Q1 CY2025, with sales up 4% year on year to $1.43 billion. Its non-GAAP profit of $1.09 per share was 3.3% above analysts’ consensus estimates.

Welding equipment manufacturer Lincoln Electric (NASDAQ:LECO) reported Q1 CY2025 results topping the market’s revenue expectations, with sales up 2.4% year on year to $1 billion. Its non-GAAP profit of $2.16 per share was 3.4% below analysts’ consensus estimates.

Peter Schiff has warned that without the implementation of high tariffs, the only path to reduce trade deficit is through dollar decline.

Specialty food company Lancaster Colony (NASDAQ:LANC) missed Wall Street’s revenue expectations in Q1 CY2025, with sales falling 2.9% year on year to $457.8 million. Its non-GAAP profit of $1.54 per share was 2.3% below analysts’ consensus estimates.