Share prices of Mobileye Global (NASDAQ: MBLY) are on a tear since they made their debut (again) late in 2022. Parent company Intel (NASDAQ: INTC) spun off some of its stake in the autonomous vehicle chip designer into a publicly traded company to raise much-needed cash last year, but it said it still owns 94% of the company. Intel's own tires have been blown out, and there's no immediate relief in sight. Read More...
Reuters
Roche warns 2023 profits will fall on $5 billion COVID sales hit
Roche warned on Thursday profits will decline in 2023 as falling demand for its COVID-19 therapy and diagnostics kits will knock sales by over $5 billion, the latest sign that the pharmaceutical industry’s years-long pandemic boost is ebbing. Sales and core earnings per share were expected to decrease at a “low single-digit” percentage this year, the Swiss pharmaceuticals and diagnostics company said in a statement. COVID-related sales, mainly from lab testing and antibody treatment Ronapreve, are seen falling by 5 billion Swiss francs ($5.5 billion) for the full year, it said.
