— Merck's stock rose about 1.7% after being upgraded to buy from neutral by Bank of America.
Analysts cited the company's consistent revenue upside, as well as the substantial progress it has made strengthening its cancer drug Keytruda's position and softening the impact of when it goes off patent— Shares of the pharma giant were down about 1.4% after being downgraded by Bank of America to neutral from buy. Among the reasons for the call was the uncertainty over the magnitude of the revenue decline for its Covid drugs, Comirnaty and Paxlovid.
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Stocks making the biggest moves midday: Tesla, Wynn, Traeger, Amazon and moreThese are the stocks posting the largest moves in midday trading.
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Stocks edge higher as darker forecasts loomWorld stocks inched higher, European bond yields dropped and the dollar held firm in light trading on Monday following warnings from the International Monetary Fund's managing director that a third of the world will fall into recession in 2023. Same headline since Biden took office. The life of a young Iranian named MohammadBoroughani is in danger in the prison of the mullahs' regime. Who’s doing these dark forecasts? My guess, people who want billionaires to remain tax free.
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