Markets
markets

IQVIA leads S&P 500 on strong Q2 earnings, better-than-expected guidance

IQVIA is leading the S&P 500 in early trading after the provider of clinical research services to the pharmaceutical industry posted stronger-than-expected Q2 earnings and offered full-year sales guidance that was higher than the Street expected.

Shortly before 10:30 a.m. ET, the stock was on track for its best day since March 2020, when the market priced in a surge in sales related to outbreak of Covid.

It’s a much-needed rally for a stock that’s been something of a dog over the last year, falling 35% over the last 12 months compared to a 13% gain for the S&P 500.

It’s a much-needed rally for a stock that’s been something of a dog over the last year, falling 35% over the last 12 months compared to a 13% gain for the S&P 500.

More Markets

See all Markets
markets

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.