Jefferies Slashes Ratings on Four Software Stocks Amid AI Concerns
Jefferies downgraded Workday, DocuSign, Monday.com, and Freshworks to Hold due to AI risks hitting app software hard.
NOTRELOAD AI
JPMorgan Slams the Brakes on VF Corp: Vans Recovery Now Looks Years Away
JPMorgan downgrades VF Corp (owner of Vans, The North Face, Timberland) to Underweight with a lower $18 price target, citing slower Vans recovery and weaker future earnings forecasts.
CagriSema Falls Short vs Zepbound in Head-to-Head Trial
Novo’s new obesity shot CagriSema lost a head-to-head battle with Lilly’s tirzepatide. 23% weight loss is strong but not enough to win this round.
FDA Approves BYSANTI (Milsaperidone) for Bipolar I & Schizophrenia
Vanda Pharmaceuticals’ BYSANTI (milsaperidone) receives FDA approval as a new atypical antipsychotic for bipolar I manic/mixed episodes and schizophrenia in adults. Launch expected Q3 2026 with strong patent protection until 2044.
OpenAI Scales Back AI Ambitions: $600 Billion Compute Target by 2030, Eyes $280 Billion
OpenAI scales back its massive compute spending target to ~$600B by 2030 (from earlier $1.4T talk), eyes over $280B revenue, closes in on $100B+ funding round with Nvidia, Amazon, and more.
First Citizens BancShares Eyes Big Acquisition to Jump Over $250 Billion Asset Mark
First Citizens BancShares, fresh off buying Silicon Valley Bank, is hunting for deals like a possible KeyCorp takeover to quickly surpass $250 billion in assets and handle tougher rules with more scale.