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Stock futures are rising after three straight days of declines for major indexes; chip stocks are leading the rebound as volatility in the AI trade persists; several big-name companies reported earnings this morning ahead of Big Tech results tomorrow; Nebius shares are surging on news Nvidia as increased its stake in the Dutch AI infrastructure company; and SpaceX shares are rising after closing lower for the seventh consecutive sessions. Here's what you need to know today.
Novartis AG (NYSE:NVS) reported better-than-expected second-quarter earnings on Tuesday as strong demand for its priority medicines offset the impact of generic competition, while the Swiss drugmaker reaffirmed its full-year 2026 guidance.
Novartis chief executive officer Vas Narasimhan said on Tuesday he plans to stick around for the Swiss drugmaker's next phase of growth, ahead of a series of high-stakes trial data expected for the company in the second half of the year.
Novartis beat market expectations for second-quarter core operating profit on Tuesday. Lower-than-expected costs helped the Swiss drugmaker offset a sharp decline in sales of its top-selling heart failure drug Entresto.
Second-quarter net sales rose 1% at constant currency as growth from some of its top-selling products offset declines for medicines that lost patent protection.
Novartis' second-quarter core operating profit beat market expectations on Tuesday, helped by strong sales of cancer and multiple sclerosis drugs.
While the first quarter showed weaker revenue and earnings, management had already warned that 2026 would begin with significant pressure from generic competition. The key question for traders and investors is whether Novartis' newer medicines are growing quickly enough to offset those losses.
PPH's concentrated 26-stock portfolio delivered 28% returns over one year, while its 2% dividend yield beats IXJ by 50 basis points.
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